Live stream was primarily the realm of influencers and online gamers. But the COVID-19 pandemic wholly altered the scenario. Live stream suddenly became mainstream within the first few months of the pandemic. Facebook reported that the live stream viewers on its platform increased by 50% from February 2020 to March 2020. Twitch also reported 1.1 billion hours of content watched on its platform in March 2020, almost a 20% increase.
Now, a year since the pandemic started, it is just a matter of time before social distancing norms ease. As people gear up for the new normal, the primary question arises: will the live stream trend continue? This article aims to review the live stream trend and answer this question.
Trending Live Stream Services
The live stream platforms that businesses sought after the most when national lockdowns started with Facebook and Instagram. This is because they are readily available, highly accessible, and free. However, businesses on these platforms may find that by now, the free features are not sufficient.
Businesses that think ahead are already using customizable live stream services to integrate into their own platform or create a new platform. BeLive Technology is one of the few professional services that offer customized live stream technology.
As seen in the snapshot above, BeLive offers a large range of features for various use cases, including live shopping. The best part is the ability to have every individual feature customized to your needs in terms of functionality, user experience, and user interface.
BeLive’s clients are no laughing matter. One of them is Japanese e-commerce giant Rakuten who launched the super app Rakuten LIVE using BeLive’s live streaming development and technology.
The Audience is Cautious about Re-engaging Through In-Person Events
Experts believe that the mass gatherings for sporting events and concerts will most likely not change until Fall 2021. Even if organizers host physical events before that, people would most likely prefer to stay at home.
Gallup’s poll indicates that only 20% of the US population feels comfortable returning to normal activities if the government lifts the restrictions immediately. Under such circumstances, a live event strategy with enhanced virtual experiences will remain ideal to continue engaging with the community.
Live Streams Offer New Avenues for Audience Engagement
The live stream trend is expected to stick around after the pandemic as it offers collaborative experiences to the audience. Viewers can post comments, chats, tweets, and emojis in real-time during a live stream. These interactive elements present opportunities to build a stronger connection with loyal customers and potential leads.
What’s more? Live stream is usually backed by data. By adopting tools and live stream strategy to track audience engagement, brands can capture minute-by-minute data of how viewers engage with their content. This is a potent tool that businesses can use to understand the audience and market-relevant products.
Content Library Can Work as a Compelling Strategy
Live streaming offers multiple windows to impact consumers while they are on their purchase journey. Businesses can adopt real-time live streaming and repurpose the recording into clips or highlights to keep the consumers engaged until the next event.
Companies can also adopt a live stream strategy that captures the audience by offering a complete inside view into the live stream, behind-the-scenes footage, special interviews, featured backstage content, and VIP moments. This compelling strategy allows businesses to keep the audience coming back for more.
Live Streaming Remains and Affordable Way to Scale Up
With the growth in live stream trends, the cost involved in creating virtual events has dropped exponentially as newer technology is geared to support content creation. In recent years, even before the pandemic hit, advanced equipment and high-resolution cameras have become readily accessible to all.
Remote live content production has also contributed to lowering the costs associated with live streaming. Today, live streaming is more cost-effective than ever before, and this cost will only go down in the future. This makes live streaming one of the most affordable avenues for small businesses to connect with the consumers and build a brand.
Opportunity to Learn Consumer Behavior
Live streaming lets businesses experiment with different forms of live content such as conferences, product updates, online sales, and more. As the audience becomes more familiar with live content, businesses can adopt measurement tools to study their target consumer behavior.
The Verdict
Live stream videos are a powerful communication channel as the audience tends to watch videos longer than any other content form. The live stream trend will continue to be a central part of the consumer experience for the foreseeable future. Brands are recommended to improve engagement by adopting a live stream strategy that establishes meaningful connections with existing customers and allows them to discover new leads.
If your business is ready to make that next move, contact BeLive Technology for a free consultation on premium live streaming features.
