If there’s anything that COVID-19 taught us, it might be that our digital space can transcend geography and facilitate impactful connections with just a touch of a finger. LiveStreaming videos is just one of these tools! Even prior to the pandemic, it allows for authenticity that so many people crave in a world full of filters, automation and edited marketing material that often leaves a disingenuous taste in the mouths of consumers. Because of this, many companies have incorporated the LiveStreaming feature in their digital marketing strategy. Is this in your business’s communication plan?
If not, it might be worth considering LiveStreaming’s expected multi-billion dollar worth, insight into market data or analytics, and creation of recyclable content. This feature is not just a trend of 2020, but will also be essential for the new year.
Why you should consider live streaming NOW
With Gen Z spending roughly 10 hours every day engaging with social media, they are the drivers of digital engagement that are most profitable to marketers. So what on social media is captivating enough for them to spend all this time? Gen Z in particular craves authentic, real-time communication with creators, conversations with peers, and discussion forums – all of which occur on social media and can be achieved through the LiveStream feature.
A survey by software company Livestream and New York Magazine shows that 80% of audiences prefer live-streamed videos to blog content. This is not surprising given the perceived authenticity Gen Z associates with live video as opposed to overproduced, edited marketed video content.
With this in mind and because of Gen Z’s estimated $143 billion footprint in U.S. spending, the current $30 billion LiveStreaming industry is projected to reach $70 billion in 2021. With such an economically influential portion of the population dominating internet engagement, there is a great opportunity to create a connection between your brand or product and the audience through the use of their preferred medium: LiveStream.
Benefits to your organization
From a practical standpoint, the videos captured on LiveStream can offer recyclable material to be used for internal promotions or external marketing strategies. Why spend more money on marketing or time editing and priming videos than necessary? Budgets can be tight, and this is a perfect opportunity to save.
LiveStreaming also provides an opportunity to improve brand awareness both through connections built with customers as well as data on the audience that can be analyzed after. This feature can be used to speak with customers directly, promote your business’s mission, give insight into the company culture with a behind-the-scenes glimpse, or thank your biggest fans. Once published, the analytics of who watched, how long he or she was engaged with content, and any reactions posted to your content, will only further your brand awareness.
How do you start using LiveStreaming?
If you are now sold on incorporating this into your business’s digital marketing strategy, here are a few ways you can start using LiveStream now:
- Introduce new products or campaigns: This gives viewers the chance to tune in and interact with real staff in real time
- Hold customer support Q&A sessions: This can build those direct relationships consumers crave, as well as provide insight into where or how your brand might not be hitting targets
- Influencer outreach or endorsements: Having these individuals hold a LiveStream about your brand or product can help you reach wider audiences
- CEO/Leader “takeovers”: These can humanize the brand or put a face to the name
- Use polls frequently: This is fun and interactive for viewers but also gives direct insight into what is working and what is not, allowing you to pivot
With LiveStreaming technology on almost all social media platforms, it’s nearly begging you to utilize it. It is just a click of a button and garners real-time engagement with no fuss over editing required. While it is clear that this should be prioritized in your business’s 2021 marketing strategy, the only question that appears to remain is on which platform you should start!