For time immemorial, brands have been pondering the question: “what is the best way to reach our target audience?” While there is no cookie-cutter answer to this question, one of the newest and most successful marketing trends is live streaming.
Many brands have begun to develop successful live streaming campaigns in a variety of ways. In this article, we’ll examine some reasons why you may consider creating a compelling live stream strategy and some live streaming ideas that you may consider incorporating into your brand’s marketing approach.
Why Live Streaming?
In this day and age, people tend to prefer quick, direct content that they can absorb and move on with their lives in a short time. While written posts certainly still have their place, live videos accomplish the task of conveying a message in much less time and a more easy-to-digest format. Live video streaming has three critical features that differentiate the practice from other forms of marketing:
1. Intimate Format.
2. Free and Easy.
3. Can be Done from Nearly Anywhere.
Consumers want to know that their questions and concerns are being addressed. A regular live stream campaign shows your customers that you are listening, and it does so in real-time. With simple and straightforward chat features, you can interact with your customers as if you are in the same room, regardless of your location at that time.
What are Some Ideas that Brands are Already Incorporating?
Many brands have developed highly creative and effective live streaming campaigns. A sample list of ideas to incorporate into your live stream strategy is as follows:
1. Streaming Live From an In-Person Event
Many brands have begun utilizing live streaming while at an event. Showing your audience a sneak peek of an in-person event can serve to make absentees wish that they came. In addition, live streaming these events makes those who were present at the event feel like VIPs.
Who Did It:
In 2017, Rihanna raised the bar when she launched her cosmetic line, Fenty Beauty, on Instagram live. Large LED screens formed an octagon and blazed life to the venue with high-impact graphics. After opening remarks, the LED screens lifted 10 feet into the air, revealing a highly interactive environment with multi-layered brand immersion.
2. Live Streaming a Reveal of a New Product
Consumers love to be the first to see something. Providing live stream footage of a new, highly anticipated product is a way that brands are encouraging consumers to frequently check back to the brand’s page, ensuring that they don’t miss anything.
Who Did It:
A classic example of a live streamed product launch is Apple’s unveiling of the latest iPhone 12 line in 2020. Of course, Apple’s launch event, despite being completely virtual, was no disappointment. Apple has long been known for its high-profile events.
3. Combining E-commerce With Live Stream
Just as online shopping transformed retail twenty years ago, live streaming promises to transform e-commerce today.
According to Coresight, live shopping generated $60 billion in global sales in 2019 with U.S. sales accounting for $1 billion of that slice. Chinese buyers have long supported social commerce with a projected sales increase this year to $242 billion dollars, likely to reach half a trillion dollars by 2023.
Who Did It:
Changi Airport had its first seven-week marathon of online sales through iShopChangi during Singapore’s circuit breaker period at the peak of the pandemic.
The campaign also involved live stream sessions with local personalities and huge discount codes for online products. Powered by BeLive Technology, viewers of the live stream could view products through an in-stream catalogue, and make purchases without leaving the live stream.
Whatever service or product you provide, you should strongly consider developing a live stream strategy. The trend of live streaming doesn’t appear to be going anywhere and seems to be growing in popularity. Those who don’t keep up with current trends are doomed to be left behind and outpaced by competitors.
Got ideas for a live streaming strategy with high potential? If your business is ready to make that next move, contact BeLive Technology for a free consultation on having your own live streaming platform.