Live video content continues to increase in popularity. In fact, leading platforms in the gaming sector amassed approximately 7.2 billion hours of watched content in the third quarter of 2022 along. This is only one of the many sectors today making use of this communication channel.
Marketing managers and directors are recognizing the importance of this marketing channel today, as they reported in 2022 that they expected 40 percent of the marketing events that took part in during that year would be virtual events. How can a business benefit from live streaming?
Increase Audience Size
When a person holds a live event, they are often restricted by the size of the venue. People who live far away might choose not to attend because they don’t want to drive that far. These are only two of several reasons a live event is limited in terms of the audience size.
Live streaming eliminates this barrier because any number of people can take part. In fact, people across the globe can participate if they want to. Capacity limitations become a thing of the past, so the event host can invite as many people as they would like to.
Furthermore, the live stream can be taped for those people who cannot attend the live event due to other commitments. They won’t have to miss out on the information shared as they can watch the taped version at their convenience.
Content Format Options
Business owners often assume that they must have a person speaking, either on video or through audio, for a live stream. However, this stream can include many other types of content. Text, live chat, and pictures are all options. The choice of platform may play a role in which formats may be used, so keep this in mind when choosing a provider to work with.
Live streams can also be formatted as on-demand content. Business owners often find their live stream brings in new visitors long after the original event is over when they repurpose it. Consider live streaming with guests so they can also share the event on their site as on-demand content. This may help bring new visitors to both businesses.
Live streaming allows for interaction and engagement with viewers. This level of engagement and interaction isn’t available with other platforms and marketing strategies, so businesses should live stream as often as possible.
When live streaming on social media, the business can immediately respond to viewer comments. Viewers can also interact with each other, which helps to create a connection between the presenter and all viewers taking part in the event. Once others learn that they can interact with the business through the live stream, they will want to take part in future events.
This provides viewers with a communication channel that many businesses don’t offer. The presenter can talk with the viewers to learn more about them and what they want and expect from the company. This feedback can be used to help the company improve.
Establish a Sense of Urgency
The business owner can use the live stream to create a sense of urgency in the viewer. For example, the business may limit the number of live streams it does and tell people they will miss out if they don’t take part in the event.
The company might also offer a special that is only good during the event. People who watch a taped version of the live stream miss out on this special deal. When they do, they will feel a sense of urgency when it comes to taking part in the next live event. They don’t want to miss out again.
Easy and Convenient
Live streaming is so easy that even the average person can do it. How many times has a person visited a social media site to see someone on live video? This is not hard to pull off. A person doesn’t need a lot of technical know-how to live stream or have a lot of experience in front of a camera.
However, certain things are needed for a successful live stream, which is why many people turn to a professional to handle the background elements. Doing so ensures the right equipment is used. In addition, a professional will have a strong internet connection, as nothing is worse than a live stream going dark midway through the broadcast. They also have a streaming platform with a good reputation. If they don’t meet these three requirements, they won’t be in business for long.
Measure the Performance
A business owner can measure the success of the performance by seeing how many people take part, how many left before the stream was over, audience engagement, and more. This allows them to make changes in future broadcasts to better meet the needs of viewers.
Internet users watch an average of 17 hours of video content online each week. This shows people like videos. However, a company must ensure the videos it produces generate excitement and encourage people to return in the future. The metrics help them determine if this is the case.
One major benefit of working with a live stream platform is this helps to eliminate distractions that may take away from the viewer’s experience. A person can live stream of YouTube and other sites. However, the stream must compete with ads and other things that can take the viewer’s focus away from the message being delivered in the stream. This isn’t an issue when a dedicated platform is used.
This also eliminates any concerns about competing with similar businesses. A platform might show the company’s live stream right next to an ad from a competitor. By working with a dedicated live stream platform, this is never a concern. The business knows it will get the best return on investment by choosing this option.
Start live streaming today. However, before doing so, have a reliable internet connection in place, the right equipment, a dedicated platform, and more. Having no live stream is better than producing a poorly executed one. This reflects poorly on the business, so avoid this mistake. Consider working with a live stream production company to ensure your stream runs smoothly from start to finish.