Live Video Streaming Marketing

Streaming marketing is all about connecting with your intended demographic by live broadcasting on social media. It is a great way to connect with people, create trust, and get to know the people you serve better. Brands may engage with their target customer more genuinely and directly when they broadcast information in real time.

This type of digital marketing involves broadcasting interactive video material over the internet in real-time. It's a great way to engage your audience because viewers can interact directly with your business by making comments or asking questions during the live stream. You can also use live streaming videos to run promotions, host contests, answer customer questions, and even give exclusive behind-the-scenes looks at your business. Compared to traditional video ads that are pre-recorded or edited, live streaming offers a fresh perspective for viewers. This extra freedom allows you to showcase your products or services in a new and interesting way.

The roots of live streaming marketing go back nearly three decades to a garage band called Severe Tire Damage, which stream their performance. The journey from that first live stream, including a baseball game in 1995 and President Bill Clinton participating in a webcast in 1999, showcased remarkable progress. By 2016, enhanced live streaming technology had taken over the market.

Fast forward to today, and video material has become essential for businesses, with a stream of digital marketing emerging as a crucial tool for brands to connect with and engage their customer. It has become a cornerstone in a brand's social media and digital marketing efforts, especially in the context of the ongoing pandemic, where physical interaction is limited, emphasizing the importance of virtual interaction to reach and connect with people.

In this age of technology, consumers have incredible opportunities to expand their minds and explore new possibilities. The changing dynamics of the economy and the heightened competition in the marketplace are influencing shifts in consumer mindset. Nowadays, people can access a wealth of information right from their devices. As they receive more information, they become more discerning and selective about the products, services, and ideas they choose to engage with.

Check out these key streaming stats that highlight the impact of live-streaming video on the creator economy:

1. In 2021, people collectively spent a whopping 548 billion hours streaming material on mobile devices.
2. Breaking news holds a dominant position across all platforms, constituting 37% of total viewership for video streaming.
3. Live streamers clocked in over 250 million hours of streaming during the first quarter of 2022.
4. By 2023, it's estimated that the US will have 163.4 million video viewers.
5. The gaming stream marketing scene is predicted to attract a whopping 920 million viewers by 2024.
6. The global live-streaming marketing jumped from $1.24 billion in 2022 to $1.49 billion in 2023, growing at a rate of 20.6% annually. Projections suggest the market will hit $3.21 billion by 2027, with a compound annual growth rate (CAGR) of 21.2%

Harnessing the power of live-streaming video marketing platforms like Facebook and Instagram Live empowers businesses to deliver timely and relevant messages directly to their target customer in real time. Here are the advantages of integrating live-streaming video marketing into your business strategy:

The internet's widespread availability allows consumers to access online content at their convenience. With a live stream, you can invite and engage as many people as you want in real-time. This accessibility makes your content more reachable to your target and a potential customer.

Converting your content into a video format, especially through well-planned and advertised broadcasts, increases engagement with your viewers. By turning a standard video broadcast into a customer event, e-commerce businesses not only market products effectively but also strengthen the bond between their brand and customer.

Live stream marketing events provide an immediate avenue for gathering valuable feedback. Features like chat boxes and emoji reactions enable direct engagement during virtual events, fostering real-time discussions.

Producing video content, such as Facebook Live marketing, is notably more cost-effective compared to other produced and edited materials. The reduced cost translates to increased revenues, allowing resources to be redirected to other activities that promote product growth.

Imagine the hassle of meeting tight deadlines with complex production processes. Live streaming marketing, including Facebook, typically takes only about four minutes to produce, given the right tools and equipment. It's a convenient, user-friendly, and time-efficient method.

Stream marketing benefits both the brand and the viewers. It's cost-effective for businesses to produce a stream; viewers can tune in from anywhere globally. The format is particularly accessible to individuals with physical challenges or compromised health who may be hesitant to attend large physical events. A virtual broadcast through live marketing offers comfort and convenience to all stakeholders.

For successful customer engagement through stream marketing, having the right tools and a clear, concise message is crucial.

Bringing live marketing events to your intended demographics virtually goes beyond merely letting them watch on their devices; it makes them feel more connected and valued. Dunkin' Donuts kicked off the DD Summer Soundtrack campaign, stream marketing on a variety of platforms such as Spotify, Snapchat, Instagram, YouTube, Twitter, Vine, Facebook, and Periscope (Twitter Live). The stream aims to connect with its millennial target audience and showcase its iced coffee offerings, so the campaign brought together five concerts featuring different performers in real time.

Hosting a company announcement or launching a new product through streaming is a sophisticated marketing approach to grab the audience's attention and generate interest—for example, Google's inaugural virtual product launch occasion, Google Launch Night In.

In a concise 30-minute virtual-only stream event, Google unveiled its latest products. The stream was then broken down into short product launch films, subsequently shared on the Made by Google YouTube channel.

During the occasion, Google introduced the new flagship phone series, the Pixel 5, along with new Chromecasts and Nest Audio smart speakers. The presentations were delivered through pre-recorded, high-production quality stream videos.

Stream marketing provides a versatile platform for various purposes, and many brands choose to leverage this tool. A noteworthy example is Dreamforce, a monumental annual event hosted by Salesforce that brings its community together to celebrate trailblazers. With millions attending from around the globe to share success stories and exchange tips, Dreamforce stands as a significant event in the business world.

To make the experience accessible to a broader audience, Dreamforce incorporates online streaming. This allows attendees to participate in the product launch event as if they were physically present. The event page provides instructions on maximizing the virtual experience.

Salesforce's success in expanding its conference to include over 2,000 sessions can be attributed to its effective use of social media tactics. Event planners employ hashtags to encourage user-generated content (UGC) and comments, fostering a sense of community engagement. The entire audience is encouraged to use the designated hashtag, amplifying the interactive and participatory nature of the gathering.

Enhance your audience's experience by bringing in experts and thought leaders for engaging interviews that delve into the most curious, fun, and interesting aspects of your brand, product, or service. This not only provides an insider's view of the business but also serves as an additional avenue for testimonials and case studies.

For instance, the Estée Lauder group of companies has seamlessly integrated the live shopping feature into its diverse portfolio. During the stream, renowned celebrities, accomplished makeup artists, and dermatologists guide customers through their products, offering valuable insights.

These events are considered credible sources of information, assisting consumers in their decision-making process and creating a more informed and engaged audience.

Connect with your potential and existing customers by addressing their queries through a live Q&A session. This real-time interaction not only humanizes your brand but is also an effective tactic for generating leads and boosting engagement. A great example is LinkedIn, which hosted a live session featuring Maegan Tanner, the Head of Google My Business Strategic Partnerships. During the session, she shared valuable insights on her topic and responded to audience questions, creating an interactive and engaging experience.

Live shopping involves sellers and retailers showcasing their products to both existing and potential customers, who can make direct purchases through a stream video using a live shopping app. Fresh Market, for example, leverages streaming technology to bring its unique in-store experience to the online realm. In early 2022, the company conducted its inaugural stream event from its newly renovated company store. The fully managed stream surpassed industry averages, achieving a three-fold increase in brand click-through rates and an eight-fold boost in engagement rates.

Influence Marketing is a creative strategy focused on ingraining a brand's perception in the minds of consumers. This approach has demonstrated its ability to garner public attention and generate substantial media interest. An excellent example is Royal Caribbean International, which initiated the #ComeSeekLive campaign and collaborated with young influencers worldwide.

Brands can achieve remarkable engagement by sharing content that provides a unique behind-the-scenes perspective, content that they wouldn't typically showcase. This interactive strategy not only boosts traffic but also fosters a deeper level of engagement. Take Warby Parker as an example; they spotlighted two of their locations. The Nob Hill store created a parody of 90s sitcom theme song intros, while the Grand Rapids team paid tribute to the Real Housewives franchise. The teams walked around the store in both instances, showcasing the brand's eyewear. This behind-the-scenes content serves as both engaging material and an opportunity, and the concept can be adapted beyond a storefront to recreate similar ideas in an office setting.

Engaging in live unboxing is a thrilling and captivating experience for both the seller/brand and the viewers/customers. Utilizing live streaming for unboxing videos creates a sense of curiosity around the items, ultimately contributing to increased brand awareness and sales. Take, for instance, a streaming video from UrAvgConsumer featuring the new Beats Studio Buds. This content seamlessly combines an unboxing experience with a review of a popular product, making it both interactive and informative.

Boost your brand's customer engagement by live-streaming a game show or a contest/competition. Hosting contests on various platforms creates a dedicated audience and offers an indirect way to promote products. A great example is The Hobbit: The Desolation of Smaug, which organized a video Q&A with Peter Jackson using the Woobox Video Contest.

Fans were encouraged to submit a video asking Jackson a question and provide the YouTube URL of their video question in advance. Jackson then responded to the fans' questions during the Facebook stream. After submitting the video, users were directed to a "thank you" page, and their videos were featured in the gallery.

Deepen your customers' connection with your brand by using video marketing to showcase how a particular product is created. Provide them with an insider's look and an overview of the development process. Audi, the German carmaker, took this approach by inviting enthusiasts to go behind the scenes and explore its production site in Ingolstadt. This type of content not only engages customers but also gives them a more profound understanding and appreciation of the brand's craftsmanship.

Virtual tours through live streaming inspire, particularly for those stuck at home, offering pleasure and ideas about what to see and expect from a particular place. For example, Airbnb has expanded its offerings to include virtual tours or online experiences of places such as the Los Angeles Night Sky and Harry Potter London. This not only helps support local tourist guides but also serves as a way to entice future physical visits to these locations. Additionally, real estate companies commonly use virtual tours to enable online site visits for potential buyers.

A product demonstration is a guaranteed method to enhance marketing sales. Showing viewers how to use the products gives them insights into why they might need or want to purchase. Amazon has embraced this strategy by introducing a streaming service that showcases videos from in-house talent, spotlighting the latest deals and other brands available on the platform. This approach not only informs consumers about the products but also adds an interactive element, potentially driving increased sales.

The live streaming marketing trend is exploding, and if estimates are correct, it will be a huge boon to businesses in the future years. Live streaming has altered how marketers and customers communicate because of its compelling style and the global shift induced by the epidemic. It is straightforward, dependable, convenient, diverse, and affordable, providing a rapid option to drastically grow your consumer base and reach a larger audience. Unless you are happy with missing out on the tremendous traffic statistics, attention, and potential that live streaming delivers, now is the time to carefully consider including it in your brand's and business marketing strategies.

Now that we've got a better grasp of what live stream video involves let's dive into some key benefits for your digital marketing strategy.

• It's cost-effective. Live streaming is a fantastic tool for businesses that are just starting out and don't have a massive marketing budget. You can get started with minimal costs as it requires no special equipment.

• It reaches a large audience quickly. Live streaming is an ideal way to spread your message far and wide! Your content can be seen by thousands or even millions of potential customers worldwide within minutes, thanks to live streaming global reach.

• It enhances customer engagement. Live streaming enables direct interaction with viewers, allowing you to answer their questions in real time. This makes it an incredibly effective tool for building personal customer relationships.