The Benefits of Live Streaming.
In the audio / video world, one of the biggest trends over the past few years has been the explosion of live streaming. When streaming online first became popular it was almost entirely associated with Twitch.tv and video games. Over the past few years YouTube and FaceBook Live have really brought live video content into the spotlight. What was once reserved primarily for big time sporting events is now available to anyone with an internet connection.
The accessibility of high quality live streaming brings big benefits to companies. They now have a new, highly effective tool with which to improve everything from customer engagement to employee training. Let’s take a closer look at why live streaming is an effective tool for almost any business.
“80% of consumers would rather watch live video than read a blog.”
Live streams get noticed.
There’s something enticing about live video. It’s more interesting than pre-recorded content. A study by FaceBook Live showed that viewers spend 3X longer watching live content, and engage with that content 10X more often when compared to pre-recorded video. Armed with that knowledge platforms like Facebook, Youtube and Instagram promote live content to the top of their users feeds. The result is more attention for your streams, than on your usual content.
Put a face to your business.
Live events come with a certain amount of risk, and therefore vulnerability. There are no re-takes. If you stumble, you stumble. If you have to stop and think, you stop and think. Live streams show that your business is made up of real people that your viewers can relate to. It makes you more likeable. The more likeable you are, the more likely your viewers are to convert and take action after the stream.
“Viewers are willing to spend 3x longer watch live video compared to pre-recorded video”
Interactivity increases engagement and makes your viewers feel valued.
Unlike other forms of content, live streaming can be interactive. Your viewers can raise questions or concerns and you can respond to them immediately. There is a back and forth that you don’t get in other places. This makes your customers feel heard. They feel like they’re important because you’re taking the time to deal with them directly. A result of this is a high rate of engagement. Your viewers feel included, and are more likely to comment, or post to social media about you and your stream.
Your stream is a limited time offer.
One of the best ways to influence someone to take action is to give them a limited time to do it. This is called scarcity and it’s used on us every day. How many times have you heard “save 50% if you buy within the next 24 hours” or “only 1 left in stock”. As soon as we think we might not be able to do something, we want to do it more. The same concept applies to your stream. It’s happening on this day, at this time. People will worry that if they don’t watch your stream, they may miss out on some valuable information. The FOMO (fear of missing out) is real.
“After watching a live video, 67% of viewers are more likely to buy a ticket to an event.”
You’re reaching the right people.
If people tune into your stream, you know that they’ve made the decision to stop what they were doing and watch. They’re participating when you want them to, not when they want to. This is a big deal. It means that they already see value in what you’re going to say, and will give you more of their attention. This is why streams are viewed 3X longer than pre-recorded video. You’re reaching the right people, and they’ll be more receptive to your message.
You’re saving money.
Companies spend huge sums of money holding conferences every year. They rent out massive event halls, and fly in their employees from around the world. That costs a lot of money. On top of that, the travel time on either end of the conference eats into their employees productivity. Instead of holding a big, in-person event, you could stream the event in front of a small audience, or no audience at all. Your employees can tune in and participate in the stream from the comfort of their own home, or office. This frees up cash to spend on building your business In other ways.
You can reach more people.
Finally, streaming an event live increases your potential audience from the number of people you can fit into a room, to anyone on the planet who’s interested in what you have to say. An internet connection is all that’s needed to participate. Even if you’re streaming a private event, there will always be those who can’t attend in person. With streaming, no one is left out.
