Live video gives brands an opportunity to interact in real time with customers.
Research shows that live video streaming is overtaking traditional websites, blog content, and video-on-demand as the most dynamic marketing tool available for businesses today.
Whether it’s streaming a product launch, running B2B webinars, offering Q&A sessions, or streaming product reviews, live videos are becoming an established part of a successful marketing strategy.
A recent poll by Livestream found that 80 percent of respondents would rather watch live video from a brand than read about it on a blog or website, and 82 percent prefer live video content to traditional social media posts.
According to Livestream, industries that have most successfully embraced this technology include news media, the concert and live event industry, and universities, yet many others are looking to capitalize on the instant connectivity of live streaming to reach their audience.
Live video is injecting human elements to the market
According to a 2016 report on video marketing statistics, 74 percent of users who watched an explainer video for a product or service went on to buy it while 77 percent of consumers said they had been convinced to purchase a product or service after watching a video. Meanwhile, YouTube reports that consumption of mobile video content is rising 100 percent every year.
Yet the key is the unique appeal of live content. According to research by Tubular Insights, average time spent watching video on mobile devices is 2.8 minutes for traditional video-on-demand (VOD) versus 3.5 minutes for livestreams; on tablets, 4.1 minutes for VOD versus 7.1 minutes for livestreams; and on desktop devices, 2.6 minutes for VOD versus 34.5 minutes for livestreams, suggesting that the interactive nature of live content is the future for businesses looking to hold the attention of audiences.
Industry expert Jeff Bullas explains how leading brands such as Chevrolet, BuzzFeed, UFC, and Dunkin’ Donuts have all had success by providing their customers and audience with such content, pointing to how live video gives firms the opportunity to interact in real time with customers through Q&A sessions, interviews with experts, and live demonstrations of their products.
People buy from people
“Live video helps brands inject an authentic human element into their market, which is often missing in highly produced pre-recorded videos,” Bulla writes. “After all, people want to buy from other people, not faceless corporations.”
The proof is in the success of the firms who are pushing ahead with such technology, and with research by Cisco estimating that video will make up 82 percent of all Internet traffic by 2021, the phenomenon is only likely to grow.