Live Stream Marketing is the use of video content created, distributed, and viewed in real-time to promote and market a company’s products or services.
Livestream video is an in-demand and versatile tool that provides your audiences an avenue to directly interact and have a clearer window into your business.
Live streaming can now be done in a variety of ways, with options that tailor fits to your brand. Each platform, like Facebook Live Marketing, Instagram Live Streaming, and Youtube Live Streaming, offer slightly different features and opportunities to better target different audiences.
Viewers can interact live by posting comments that appear beside the live stream. Live stream marketing tools and software also help businesses record and broadcast live event feeds over the internet. It is cost effective, engaging, and authentic, thus appealing to a much wider audience potential.
Live video marketing, or live streaming, is changing the way brands interact with their audiences. A live video, being it as more authentic and instant, immediately attracts and piques the interest of the viewers.
The use of live streaming marketing dates back almost three decades ago, when a garage band named Severe Tire Damage live streamed their performance. Of course, it wasn’t the best quality, but it was the maiden voyage of live streaming that defines today’s current practice. A remarkable progress was then recorded from the first record of live streaming, with a live streamed baseball game in 1995 and President Bill Clinton taking part in a webcast in 1999. Afterwhich, a more enhanced live streaming technology has invaded the market in 2016.
Today, video content has become an indispensable and go-to option for businesses, and live streaming digital marketing has become a necessary tool for brands to reach and engage their customers. It quickly became a brand’s key component in social media and digital marketing initiatives, especially with the on-going pandemic that limits physical interaction and highlights the significance of virtual interaction to reach and connect with people.
The age of technology is bringing us tremendous opportunities for the consumers’ mind and behavior to grow and explore. The dynamics played in the growing economic pressure and increasing competition in the marketplace causes the shift in the consumers’ mindset. Today, people have greater access to information with just their devices. Information can be derived anywhere, and the more information they receive, the more they become more conscious and particular in the products, services, and ideas they consume.
The following are some of significant statistics about live streaming:
The use of live streaming in digital marketing is a significant factor in narrating your brand story, building relationships with your target audience, and growing and maintaining a loyal fan and/or customer base. Capitalizing on the advancement of streaming video marketing, like Facebook and Instagram live allows businesses to convey relevant messages to the target audience at the right time, in real time.
Here are some of the benefits of using live video marketing for your business:
A new study from the ABI Research forecasts that 91 million subscribers will utilize live streaming by 2024- this is a wide live streaming market size that has the potential to be reached. The proliferation of the internet and other tech advancements has paved the way for the customers to consume online content whenever and wherever they are. With live streaming, you can invite as many people as you like to attend and engage with your online event. Live stream marketing makes your content even more accessible to your target audience, and even to your potential audience.
Video content is a more enticing content to most consumers these days as evidenced by a report published by HubSpot that 82% of audiences prefer to watch live video over standard social media posts. This is an opportunity for businesses to curate more relevant and relatable stories delivered through videos, particularly on a live broadcast marketing. Live streaming leverages your brand’s story and connects you more on a personal level with your consumers.
An study by Vimeo & New York Magazine points out that the most-watched live streams have to do with news coverage (56%), while concerts and live conference tie in second (43%). These types of events have the potential to immediately gather significant feedback from their audiences, allowing them to repurpose the live video content in a plethora of ways. Live streaming marketing is usually equipped with chat boxes and emoji reactions which gives your audience a direct opportunity to engage in a discourse about the ongoing virtual event.
Compared to other produced and edited video content materials, producing a Facebook live marketing or live video marketing in general is incredibly cheaper—most of the time it is free. Reduced cost equates to increased revenues, and the resources you are supposed to spend for live streaming marketing can be allocated to other activities that further grow and promote your products. This is the more reason for businesses to take part in the live streaming phenomenon since it is forecasted to reach a size of $184.3 billion by 2027, according to a report by the Global Video Streaming Market.
A HubSpot data points out that it takes approximately 2 hours to write a 500-word blog post and anything between 4-8 hours to produce a 1,500-2,000-word article, while video productions like vlogs could usually take 2-3 hours to create and edit. Imagine how tedious it can be, especially if you have a deadline to beat. But doing Facebook live marketing, or any live streaming marketing for that matter just usually takes you 4 minutes to produce. Given the right tools and equipment, live stream marketing is convenient, easy to use, and takes less time to produce.
Live stream marketing is convenient for both the brand and the audience – lower cost for the business to produce a live stream and the viewers can tune in from anywhere in the world. It is also more accessible even to the physically challenged individuals and with compromised health situations who are wary of joining a large crowd in a physical event. Essentially, a virtual event simulcasted via a live broadcast marketing provides comfort and convenience to all stakeholders.
To effectively connect with the customers through live stream marketing, it is necessary that you are equipped with the right tools and a concise message to convey to the customers. In this section, we will discuss a variety of live stream marketing examples used by different brands that drew more engagement and raised awareness for the business.
Sharing live events to your audience virtually can make them feel more connected and valued. More than just letting the viewers watch the event on their devices, you can allow them to engage and be a part of it. Dunkin’ Donuts launched the campaign DD Summer Soundtrack that was live streamed on multiple channels including Spotify, Snapchat, Instagram, Youtube, Twitter, Vine, Facebook, and Periscope (Twitter Live). Intending to reach its millennial target audience and promote their iced coffee products, the campaign featured five concerts with various performers streamed in real-time.
Live streaming a company announcement or a new product launch is an elegant way to capture the audience’s attention and interest. Chevrolet became the first auto brand to debut its vehicle, the 2017 Chevy Bolt EV using Facebook Live Marketing. The all electric car has gathered a lot of attention with over 56,000 views and nearly 850 comments from the viewers.
Live stream marketing can be done in a plethora of ways and purposes, and some brands choose to utilize this platform by showcasing their expertise through a seminar or online course. Benefit Cosmetics` Tipsy Tricks is live streamed on Facebook once a week and they show viewers tips and tricks on how to apply their products. They also get feedback from the viewers by asking suggestions on what products they want to see used in the tutorial.
A live product demonstration is a sure fire way to boost sales. By depicting how to use the products, viewers and consumers get a glimpse on why they need or want to purchase it. Amazon has launched a live streaming service that features videos from in-house talent highlighting its latest deals, as well as other brands sold on the site. An episode of Amazon Live demonstrated multiple products, including a Kauffman modern accent chair, an Instant Pot, Amazon’s Echo Show, and a smart speaker with a touch screen.
Impress your viewers more by bringing in experts and thought leaders for an interview that answers some of the most curious, fun, and interesting facts about the brand, product, or service. It provides an inside look to the business and offers the viewers another outlet for testimonials and case studies. For instance, British chef Jamie Oliver sat down for a live streaming marketing interview to showcase his recipes and advertise his new cookbook, Veg.
Address your potential and existing customers’ queries through a Q&A session that engages your audience in real-time and humanizes your brand at the same time. It is an effective tactic to generate leads and an incredible engagement booster. LinkedIn hosts a live session with its Head of Google My Business Strategic Partnerships, Maegan Tanner. She discusses relevant information about her topic while answering questions from the audience during the live session. It garnered 260K views.
It is a practice wherein sellers and retailers show their existing and potential customers their products which can be purchased directly from the live video with the help of a live shopping app. A report published by McKinsey Digital reports that apparel and fashion brands account for 36% of live stream shopping events. It is the most common live commerce category followed by beauty (8%), fresh food (7%), consumer electronics (5%), furnishing and home decor (4%), and automobiles (<1%). Iconic American fashion brand Tommy Hilfiger had debuted in 2020 its livestream shopping experience in Europe and North America. It is a step in the brand’s innovative approach to bring its collections closer to consumers regardless of their location.
Influence Marketing is a creative approach on instilling brand’s perception to the consumers. This practice has proven to amass public attention and interest, on top of loads of media attention. Royal Carribean International launched #ComeSeekLive campaign and partnered with young influencers from all over the globe. The campaign combined traditional outdoor advertising with one of its social platforms, Periscope (Twitter Live). This innovative program enabled consumers to interact and participate real-time with influencers on board the cruise line’s high-tech ship while sailing in different locations.
Brands can rake awesome engagement with content they typically wouldn’t have access to, like the behind the scenes videos. It’s an interactive strategy that boosts traffic and a deeper level of engagement. Andrew Rea’s famous Youtube cooking channel, Binging with Babish, has become a live streaming marketing initiative success because of their live behind the scenes footage.
Live product unboxing can be an exciting and interesting experience for both the seller/brand and the viewers/customers. Live streaming for unboxing videos helps generate curiosity for the product, which in turn could translate to brand awareness and increased sales.
Increase your brand’s customer engagement by live streaming a game show or a contest/competition. Hosting live contests on different platforms gives the brand a dedicated audience, wherein they can also promote the products indirectly. One example of this was when The Hobbit: The Desolation of Smaug held a live video Q&A with Peter Jackson (The Woobox Video Contest). The fans were asked to submit a video of themselves asking Jackson a question and then submit its YouTube URL of their video question beforehand. Jackson replied to the fans’ questions during the Facebook live stream. Once the video was submitted, the user is shown a “thank you” page and the video is placed into the gallery.
Share to your customers how a certain product is created through live video marketing. Get them more invested in the brand by giving them a glimpse and overview of its development process. Audi, a German car maker, has offered enthusiasts to go behind the scenes and explore its production site in Inglostadt.
Live streams of virtual tours inspire people, especially those who are stuck at home. It gives them pleasure and ideas on what to see and expect about a certain place. For instance, AirBNB now has listings for virtual tours or online experiences of places like Taj Mahal, Los Angeles Night Sky, and Harry Potter London to help local tourist guides and entice tourists to physically visit the locations in the future. Virtual tours are also common among real estate companies to allow for online site visits.
Live Streaming Marketing is taking over the internet at full speed. Before you proceed in delivering a live streamed content to your customers, here are some best practices to ensure your audiences’ high engagement and awareness of your brand.
Make sure you are using the appropriate and best tools and software, hardware (your microphone, camera, other devices), and stable internet connection for a successful live broadcast marketing. Consider using high quality equipment recommended by experts so it can produce smooth and high resolution streams. If you want to restream on multiple platforms or provide unique interaction points to your audience, you can utilize a live streaming software that offers the features you need.
Decide on a platform that works best for your kind of business and target audience. Facebook live marketing and Instagram live are usually the go-to platforms and best place to experiment if you are just starting out. See where you have the most followers and curate content that best interests them.
Twitch live is the leading live streaming platform for video gamers, so if you are targeting gamers, this is your right platform. YouTube Live offers the additional benefit of being searchable on YouTube and Google. It is a good option if you are trying to reach potential customers who aren’t following you. Other platforms you can choose from are LinkedIn Live (for professionals and corporations, especially B2B), TikTok Live (platform geared toward virality, usually for Gen Z market), and Mixcloud for audio creators.
You can go live at any time but it is highly recommended to promote it in advance so you can ensure attendance from customers. You may do this by creating a series of promotional social media posts and stories, boosting posts and stories, and encouraging your stakeholders to repost your promo posts.
You don’t want to experience a hiccup or glitch in your live stream that’s why it’s an absolute must to test-run all your equipment before every live broadcast. Always make sure to have a backup plan ready just in case.
One of the most important things to keep in mind while live streaming is to keep the high engagement and energy of your viewers. Interact with them as much as possible without losing track of the topic. Real-time interaction can be a game changer for your business/brand, so as much as possible, ask questions to your audience, address their questions, give them proper greetings, encourage them to share experience, or prepare an ice breaker/game to keep the fun going.
When planning your live stream, define your goal and lay out the tactics to maximize the results. You don’t need an entire script for the live stream, but a proper outline or bullet points will help you be spontaneous in your discussion and talk. Good planning is crucial to any activities like live streaming, but also learn to be flexible enough when something needs to be changed in an instant.
Why did you do your live stream in the first place? Be sure to have a defined goal- whether it is to encourage them to purchase, raise awareness, make a donation, or product recognition. You should reference your goal throughout your live stream and be sure to include a call-to-action afterwards. Direct them to your socials, streaming platforms, website, among others. You may also promote upcoming events or merchandise if you ever have one.
The live streaming marketing trend continues to grow by leaps and bounds, and if the forecasts are accurate, it will serve as a great business and economic accelerator in the years to come. With its engaging nature of format coupled by the global pandemics, live streaming has shifted the way brands and customers engage and interact. It’s easy, reliable, convenient, diverse, and cost-effective – it has the power to massively increase your customer base and audience reach in no time. It is the prime time to highly consider including live streaming in your brand and business’ marketing plans – unless you want to skip out on the huge traffic numbers, ability to create a buzz, and influence purchasing power of your audience.
Want to learn more? Contact us at email@example.com