Live streaming is now a vital marketing strategy for brands and businesses to reach a wider audience and interact with their clients in real time. The emergence of live streaming services started in the 1990s, but not until about a decade before it started gaining widespread popularity and usage, thanks to social media platforms.
Many social media platforms, including Facebook Watch, YouTube, LinkedIn, Twitter, Twitch, Instagram, and Tiktok, have streaming services for their users. High-quality streaming platforms like Vimeo, DaCast, and IBM cloud video also offer streaming services.
Interestingly, these streaming platforms are creating a booming means that brands and businesses have started leveraging to take their business to the next level. In a post on Livestream, a digital manager asserts that when brands do not live stream shows or events, they are missing a great opportunity that their competitors will leverage. Also, data.ai, in a post, predicts that ‘consumers will use about 548 billion on live streaming in top social apps in 2022’.
Can you now see the value of live-streaming events for your brands? If you are still wondering why your brand needs to live stream on streaming platforms, check out the top 3 vital reasons below.
Three reasons why your brands need to stream on streaming platforms
- It Increases your Brand’s Awareness and Audience Reach
When you schedule a live event or broadcast, most streaming platforms notify your followers about it. Some live streaming apps even inform your followers or subscribers when the event is live. Just to let you know, while your followers are aware, some share, like, and even comment in anticipation of this event. With this, some of their followers also see this event on their timelines and get interested.
In the same vein, most streaming platforms promote live broadcasts or videos rather than video-on-demand or content. They also make your live broadcast available in the live feed when you are live. Most times, any account can stumble on this to join the show.
For instance, when you leverage live streaming on Twitter space, you get multiple followers before the end of the space. It is also the same routine on YouTube, as you tend to get more subscribers before the show end.
Without a doubt, these social media streaming platforms have the audience your brand needs and can give your brand a wider reach. Facebook has about 2.7 billion active users, YouTube 2 billion active users, Instagram 1.15 billion active users, and LinkedIn 766 million active users, all monthly.
Quick fact: Do you know that 82% of people prefer streaming live video from a brand to their social media posts, according to a survey?
- Live Streaming on Streaming Platforms Creates a Strong Bond Between your Brand and Your Customers
Like the content you post, creating a live stream allows you to sell your brand. It will enable you to show the authenticity and benefits of the products or services you market. Streaming platforms make it easy for you to have real-time communication with your clients.
It includes facial expressions, interactions through the comment section, and sometimes verbally. You can also get others customers who have benefited from your brands to be on your shows. From here, new or old customers ask questions about what you offer and give feedback on your products. You can even unbox new products live, tell what goes on behind the scene, and improvements you have made.
Importantly, you get to lessen their fears and persuade them about how your products and services stand out!
Quick fact: 94% of video marketers believe that creating videos for your brands helps customers better understand your services or products. (Source)
- Live Streaming is more Cost-effective than Standard Video Ads
While live streaming may look stressful, the results and cost of hosting one outweigh the stress. The creation of digital ads is pricey and might require the services of a professional marketing agency to create a standard video. If your brand chooses the DIY method, it will still cost more. The cost might arises from buying camera lenses.
However, with the free live streaming services offered on Facebook and YouTube or other free streaming platforms, a well-lit room with a good background might be all you need.
Quick fact: Do you know brands can charge people to watch their live stream? (Source)
You can Also Buy Facebook Live Stream Viewers to stand out instantly.
Conclusion
You have seen the tremendous opportunities brands benefit from live streaming. Grand View Research predicts that the live stream market will be worth about 184.3 billion by 2027. Will your brand be a beneficiary?