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Live streaming is the new boss of the digital communications world. From an age of black-and-white TV ads to uninterrupted movie and show streaming, we have now reached the era of real-time broadcast.
This live broadcast is commonly known as live streaming. This streaming allows you to watch events as they unfold, at that very moment. It means that no video is uploaded after it is recorded. The audio and visuals you see are occurring in real-time or near real-time.
It wasn’t enough that the world is becoming a global village, we have now erased any delays between data generation and its consumption!
In this article, we will explore how live-streaming has become an asset for marketing.
Live-Streaming and Marketing
Live streaming has become a feature of almost all major platforms. It would be an understatement to say that the live-streaming trend is picking up.
The global live-streaming market grew from $1.24 billion in 2022 to $1.49 billion in 2023. It’s expected to reach $3.21 billion in 2027. Live-streaming is the third most-watched of online video content.
So, let’s see how brands are utilizing live-streaming for marketing their services:
Brand Awareness
Live streams can help a brand appear more frequently in people’s online feeds. The more a brand shows up, the more chances there are that a person may check what the hype is all about. This in turn can help draw potential users or followers.
Once you have built a brand, raising awareness is what will help you sell your products. A brand that regularly goes live, has higher chances of reaching potential users and converting them into customers.
Audience Engagement
Time is one of the most valuable things one can offer these days. This is one of the reasons why people prefer to stream live videos regularly. Real-time conversation and interaction with audiences are one of the primary ways that brands can build relationships with their customers. Most live-streaming software and platforms have options for viewers to send their comments to the streamer. The streamer can see those comments and respond to them.
This facilitates the feeling of access and transparency with a person instead of just a profit-oriented service for clients.
Identifying and Understanding Audience
As mentioned before, most live-streaming platforms have ways for the streamer and audience to interact with each other. This can be crucial data for businesses. They can keep track of the questions and feedback their audiences send them in real-time. The flow of people on their streams and at what times users interact the most can help brands understand the behavior and preferences of their audience.
Increasing Visibility
From building a brand to engaging audiences, live streams are an excellent way for a brand to become visible. Visibility helps a business be remembered by audiences besides being an excellent modality of content delivery. Even if they may not need their services immediately, they may search for the brand later. Visibility and remembrance are the keys to driving sales and expanding users.
Live-stream e-Commerce
Ultimately, brands wish to promote and sell their services. Live commerce is an excellent result of live streaming which refers to selling services through real-time streams. Viewers can watch someone demonstrate and discuss the different products offered. They can make informed decisions and make purchases by providing payments through the company’s website.
Live commerce has resulted in benefits for major global and local brands for years now. Studies suggest that businesses have broken their annual sales records in a matter of hours through live commerce.
Customer Support
Live streaming software helps service users send their queries to businesses in real time. Businesses can acknowledge and clarify frequently asked questions regarding their products and services. Seeing someone resolve and take care of their needs in a manner as interactive as a live stream, qualifies to be one of the best ways for businesses to offer customer support.
Live Interviews with Industry Experts
Besides building a brand identity, showcasing products, and catering to customer needs, live streams can become an essential medium for establishing a competitive backing for their services. While the markets in different sectors are fertile, the competition remains intense.
To convince people to choose their service from their competitors, a company can no longer just offer showy branding. Consumers are becoming more and more aware of what they buy. Conducting live interviews with experts and professionals who can attest to and explain why your brand’s products are better than others. This can improve trust in your services.
Live Tutorials
Another innovative way that live-streaming helps brands with marketing endeavors is through live demonstrations of a product or service. Similar to acknowledging customer queries, live tutorials engage audiences with the functional advantages and applications of their products.
Businesses can collaborate with influencers and popular people who can live-stream the way they use and how they feel about their products and services.
Conclusion
We thus see that the applications of live streams for marketing are diverse. Businesses cannot skip the potential of live-streaming to capture and retain audiences. Live streaming while becoming progressively accessible can still have technical challenges for businesses. How and which streaming software to utilize live streaming for marketing can be a little confusing.
VideoCrypt offers streaming businesses and content creators a platform where they can live-stream to their audiences at low latency. With customer-centered support and multi DRM solutions for protecting your streaming data, our streaming services are tailored to your needs.
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