It can be said that live streaming is the new radio. Why? Because this powerful marketing tool meets today’s audiences where they are almost all the time – on the internet. No matter the size of your business, live streaming videos hold tangible benefits for your company.
How Live Content Is Giving Businesses A Competitive Edge
Livestreaming provides a new platform to reach future and existing customers. By going live, companies can boost their engagement, build trusting relationships with their audience, and elevate their image. And since it’s so accessible, making use of this marketing model is practically a no-brainer.
Aside from these benefits, live streaming provides a sense of excitement to the audience. Inviting your community to tune in to the latest live stream video will make your customers feel inclusive and exclusive simultaneously, especially if they are allowed to interact and submit questions.
Why Every Business Should Be Their Own Media Company
Around 2016 Jyske Bank, one of the largest banks in Denmark, used the tagline “the only media company with its own bank” They along with many other organizations like Marriott realized that they could own the media around their brand and even their industry. At the time, the thought (and truth) was that you needed to build an entire TV studio to accomplish such a a task. That is no longer true today.
You might think that live streaming is reserved only for large companies ready to spend their big budgets on videographers, editors, and content creators. But that is where you’d be wrong. Even small businesses can become their own media companies. Media companies like Content Monsta are able to become the media branch of organizations large and small. It’s vital to gain attention and stay top of mind in the crowded world of the web so you can leverage the attention you receive to increase sales. Creating appealing content is going to make consumers want to follow your business and make repeat purchases.
Evidence of the Growth of Live Streams
Livestream videos have taken the world by storm, and here are just a few live streaming stats to prove it:
- In 2019, 87% of businesses used video as a marketing tool (a substantial increase from 63% in 2017 and 81% in 2018)
- Companies that use video enjoy 41% more traffic from searches
- 96% of people say they’ve watched an explainer video to learn more about a product or service
- The key phrase ‘Facebook live stream’ has seen a 330% increase in searches from 2016 to 2018
How Businesses are Taking Advantage of Live Streaming
Live streaming offers numerous opportunities for businesses in virtually any field. From influencer live streams to product demos and competition broadcasts, there are multiple ways to make any business be heard in the world of live streaming. Platforms like YouTube, Twitch, and Mixer have capitalized on the trend of live streaming, which has taken off at an astonishing speed. It is expected that by the end of 2027, the industry’s value will reach $184.3 billion!
Here are just some of our suggestions on how to use live streaming for business:
1. Live Interviews:
If you properly advertise live interviews, create enough buzz around the event, and host it with a big name from your industry, you will surely raise awareness about your brand and draw more customers.
2. Live Q&A:
This is a highly effective tactic to share your expertise on a subject, generate leads, and boost engagement. It is a perfect mix of selling, educating, and entertaining at the same time.
3. Live Promotions/Tutorials:
Aside from being easy to arrange, a live video of a product can increase traffic for all goods and services. It can also increase sales conversions. Including a special offer in a live streaming event will encourage viewers to act immediately.
4. Live Product Launch:
This is an incredible way to increase your sales instantly. Several leading brands have this tactic, including Apple, Honda, and Google.
5. An Educational Virtual Event:
Virtual educational speeches and training are very popular right now. Larger companies are already feeding off the desire to learn. Creating a branded educational event can garner a more diverse demographic than a typical virtual video, draw larger media attention, and fit almost any type of advertisement with educational content.
Remote Live Producer
With live video being so tremendously popular on all social media platforms, including LinkedIn, imagine how much exposure your business can get with live streaming. But what if you don’t have the time, technical skill, or resources to do it? Wouldn’t it be great if you could just sit and focus on your message while someone else manages the production? Enter Remote Live Producer. This is a professional who, among numerous other technical tasks, controls the broadcast, switches the scenes, and even moderates comments while you’re hosting.
Live Streaming: Where to Begin?
Without having a basic knowledge of how live streaming works, getting started can be daunting. Here are some of our best tips on how to successfully streamline your videos:
1. Plan your live stream like any other event:
Put the same thought and attention into your live stream that you would put into any other in-person event of this kind. Specify who your target audience is (does it include an international population? In that case, you’ll have to think about time zones). Then you should decide on the category of your live stream event and create the proper title for it. And lastly, choose the optimal location from which you will broadcast your stream.
2. Choose a Broadcasting Platform:
In order to determine which platform best suits your needs, you should identify the goals you would like to reach with live streaming. For instance, if you’re looking to boost your revenue, YouTube Live is the right choice for you.
3. Choose Equipment:
When it comes to the hardware required for the live stream, some of it is fairly obvious – a camera, for example, or a device with one installed (like a phone or a laptop). If you opt for the phone, make sure to use a tripod, or you’ll risk having a shaky, unprofessional-looking video. Think of sound quality, too. Your camera might have a good microphone, but if your setting has a noisy background, body mics are a better option. An appealing backdrop is a plus, especially if it features your logo.
When looking for a higher production level or multiple guests, this is a critical time to consider the Remote Producer mentioned above. This requires a higher technical approach and understanding of what it takes to pull together multiple remote (or local) cameras.
4. Promote the live stream:
Creating good content is just half the battle. What good is quality content if there’s none to watch it? Make sure to promote your live stream via social media platforms, website banners, email signatures, and email lists.
To Wrap it Up
Live Streaming is now within reach of everyone, from personal broadcasts to more professional broadcasts for business. There is strong evidence to support why each business should approach content creation by becoming their own media company. With Live Streaming an intimate, real-time connection with your audience can be made and with the assistance of remote stream video producers, wherever you are can be your broadcast location.
To learn more about how your company can become its own media outlet, talk to a professional Content Monsta and we can show you how.