Despite being an ill-fated year, 2020 has been the turning point for the video streaming domain.
While static content consumption reached new levels, we were brought closer to the concept of live streaming, used by businesses to stay connected with the audience, even during the pandemic. Moreover, the unassailable penetration of the internet and relevant technological advancements also played a pivotal role in helping businesses improve video accessibility, outreach, and quality.
Subsequently, we did see a bump in the live streaming indulgences in 2020 and are expecting the trend to continue or even escalate beyond expectations in 2021. Besides, based on recently released study reports, almost 80 percent of the global clientele are fixated on live videos and prefer the same over reading static blogs.
Not just that, keeping the post-pandemic era in mind, live streams are expected to comprise 82 percent of the entire online traffic, by the end of 2022.
If these do not look convincing enough to you, we shall be discussing every aspect of business-focused live streaming in the subsequent sections, whilst gauging its relevance to the business landscape in 2021 and even beyond.
Reasons why Investing Time and Money in Live Streaming Makes Sense
Going live isn’t as tricky as it might sound. While certain brands feel obligated to present an illustrious picture during live video streaming, it should tread more on the lines of organic engagement. Besides, with almost 80 percent of the global firms still at the inception stage with digital transformation, live streaming might be a far-fetched concept to incorporate.
As much as these conventional opinions make sense, businesses in 2021 are looking to cut costs more than anything else. This is why it makes sense to invest in live streaming as a reliable and affordable marketing tool that comes without exorbitant overhead costs. Here are some of the more tangible reasons to take up live streaming in 2021;
It wouldn’t be wrong to assume that customer buying habits have changed quite a bit in the post-pandemic era. As per the current scenario, the audience now prefers unfiltered conversations with the brand. Therefore, instead of spending time and financial resources on producing a polished video, streaming an unadulterated life video is expected to be more convincing to the customers.
Real Business Engagement
Brands like Louis Vuitton were the first few names to pitch forth the concept of live streaming for countering the adversities of the pandemic. Subsequently, they revealed the 2020 summer collection online, in concert with a retail app. Therefore, it can be inferred that if you have a eureka moment or rather a sudden, sharp idea that could bring in engagement, a live video is the best way to project the same as it cuts out the waiting period.
Better Brand Awareness
Every brand has a certain message that it feels is important for the viewers to know. While static content and curated videos have their place in the brand awareness segment, a live video takes your efforts and projections to a richer marketing medium. As a brand, streaming live video allows you to ascertain the number of individuals that are currently feeling connected with your message. Besides, as live streaming is a real-time initiative, it allows the brand to be more interactive with the audience, thereby facilitating a two-way communication street.
Not just that, as a business, you can turn your employee into a potential star by projecting him or her as the brand face for live videos. Honing the on-screen personality of a brand face makes the company more approachable as customers then know whom to associate with in case of queries.
While social media marketers can readily rely on the platform-centric tool for broadcasting, you can opt for a wide range of streaming selections to cater to a more diversified audience base.
Live streaming is as easy as it gets. While social media marketers can readily rely on the platform-centric tool for broadcasting, you can opt for a wide range of streaming selections to cater to a more diversified audience base. Then again, the nature and method of live streaming are at the brand’s discretion.
While certain companies use online tools and studio-based platforms to convert viewership into recurring revenue by supporting co-streaming, browser sessions, and holistic social coverage, a handful of brands also prefer streaming content via the best IPTV platforms and services.
This approach allows individuals to stream and view the content directly from the internet onto the television screens, provided there are reliable and secured streaming devices available. Brands often use these IPTV platforms for setting up ‘Linear Live’ Streaming campaigns.
Besides, live streaming can also be approached as an interview, which then boosts interaction and amplifies brand exposure, via multi-streaming.
Unlike on-demand and curated videos, live videos can be far more innovative in terms of content generation. For instance, as a brand, you can stream a live video to initiate a Q&A session in real-time, which eventually works as a brilliant engagement booster. Besides, live sessions can also help build tighter connections with the audience as they start feeling a part of the brand’s extended family.
Besides, as a business, you can opt for live product launches, showcase behind-the-scenes footage, or offer a curiosity-building sneak peek into a brick-and-mortar launch. Therefore, live streaming comes with almost infinite potential for brands to make a lasting impression on the users, either to hype a product, promote an event, or simply forge relationships.
Vertical-Independent Marketing with Live Streaming
As a brand reliant on live streaming, you must be aware of the possibilities that are only expected to amplify from here. Moreover, the threats associated with the covid-19 pandemic aren’t expected to dissipate anytime soon, which offers time, bandwidth, and precedent to create an air-tight and consistent live streaming campaign.
Live streaming has the potential to amplify eCommerce sales as customers prefer:
- Watching live product demonstrations
- Feeling the adrenaline rush associated with a new launch
- Credible social media marketing with influencers using products in real-time
At present, we haven’t even leveraged one percent of the live streaming potential there is, especially for brands dealing in products and services. Be it organizing a live educational event to draw media attention or streaming an offline event during the era of social distancing, the possibilities are almost endless when it comes to using live video streaming as a business resource in 2021 and beyond.