For a number of brands from different industries, the market is evolving and so are the marketing techniques. Most brands are now targeting the millennials and Gen Z, which implies that they have to advertise in ways that would entice the younger generations. To achieve this, an increasing number of brands are choosing one live streaming platform or the other. Live streaming currently happens to be one of the best ways to market any product or service among a target audience.
What makes video content the best way to advertise in the first place?
It is no secret that videos are more attractive than text and are more likely to attract the target audience. An engaging video can therefore attract more views and make them watch the entire video. Moreover, the human brain is capable of processing visual content 60,000 times faster than it can process text. This means that while generating video content, a brand can cram much more information into it without burdening the viewers. Similarly, the viewers would be more likely to acquire and retain the information that the video offers.
How can live streaming benefit a business?
Undoubtedly, any marketing technique would gain popularity only when it actually helps businesses to increase their revenues significantly. Considering the current trends, this is certainly the case for live streaming. There are several benefits that a business can reap through live streaming videos.
- Engaging: The most important factor that makes live streaming a better choice than uploading a pre-recorded video is that it is more engaging. When the viewers watch any event in real-time, they can experience a feeling of actually being there. Thus, a live stream would have a far greater impact on the viewers compared to regular videos.
- Building connections: A brand can connect with its target audience very well through live streams. It is a great way to strike up conversations and hold Q&A sessions with them. Thus, the brands are able to create better connections with their customers and get an idea of what exactly they seek.
- Easy production: Unlike regular videos, live streams are rather easy to produce and broadcast. While producing a pre-recorded video, a brand has to be more accurate about the details. Not only does the shooting quality have to be good, but the videos also require editing. On the other hand, the whole concept of live streaming is based on being more natural and spontaneous. There is space for errors and no need for any editing.
- Affordable: It is easy to incorporate live streaming into the marketing operations of a brand. Most of the leading social media platforms offer the option of free live streaming. The brands can also avail other related professional services at reasonable prices. This makes online video streaming a low-cost option.
- Multiple channels: Several channels have emerged as potential platforms for live streaming. As various platforms have different times of viewers, businesses can choose a channel that would take their live stream to the target audience. This diversity enhances the marketing efficiency.
- Large audience: Many of the popular live streaming platforms, especially the social media platforms have a global audience. This gives the brands greater exposure compared to the traditional ways of advertising.
- Good conversion rate: Videos have shown excellent conversion rate on multiple platforms. In fact, 71% of the marketers surveyed in a study reported that among the various marketing techniques, videos work the best. A majority of the customers are more likely to purchase a product or service once they have seen a video about it.
- Real-time management: The brands can track the performance of their live stream videos in real-time. This allows them to make necessary adjustments to the content while the stream is still on. In case of pre-recorded videos, they would have to wait a while before they get the results and can make adjustments only in the next video.
Therefore, a live streaming platform is indeed one of the best places for a brand to market themselves. From a gaining large audience base to being able to engage effectively with them, the benefits are plenty.
How are the leading brands optimising these opportunities?
While it is true that live streaming videos do not require to be as polished and perfect as pre-recorded videos, there are ways to enhance their effects. The leading brands are using their live streaming opportunities to the fullest through excellent strategies. Some of these are:
- Generating curiosity: It takes little effort to keep the viewers hooked to a video when they are already curious about the content. This is why several of the brands that have good marketing strategies come up with innovative ideas for their videos. This alone attracts the views and makes them wait and watch the entire video.
- Informing the audience beforehand: Unlike pre-recorded videos, live-streamed events take place in real-time. Thus, it would be very beneficial if the target audience is aware of it beforehand. It would ensure that a significantly larger number of viewers as when the brands spend some effort in hyping up the viewers before the live stream.
- Keeping it flexible: It is of course good to have a strategy and a plan in mind. However, a brand should be able to adapt to the situation and make changes to its strategy. For instance, often the majority of the audience wants to talk about something else other than the key topic of the discussion. The brand may then consider switching to the topic that would interest the audience.
- Showing some care: As live streaming helps to build a closer connection with the audience, it is a great way to show them that the brand really cares for them. This relies on the approach and tonality of the brand in the video. Making the target audience believe in the brand can boost sales.
When done right online video streaming is undoubtedly the best marketing solution for most businesses and organisations. It doesn’t seem like this would become an obsolete marketing technique any time soon.