Livestream marketing isn’t new. People and brands have been going live on Facebook, Instagram, and other platforms for some time. What’s new is the importance of making livestream an essential component in your marketing strategy. Here’s why.
The Post-Pandemic Landscape
During the COVID-19 pandemic, when much of life came to a halt, consumers went online. Companies that wanted to survive the global disruption had to follow their consumers and change their business model. Many brands that previously had little to no online presence entered the e-commerce marketplace. In many instances, a brand’s entire operations went online.
Lockdown Adjustments
COVID-19 lockdowns ushered in a new digital reality. Virtual events replaced in-person events. Retailers produced live videos to stay in touch with their consumers. They shared what was going on, how they were coping with the lockdown, and their plans for re-opening.
Google Trends reported that search requests for live streaming increased 300-500% during March 2020. Consumer surveys indicate that the shift toward virtual events and livestream programming will not diminish in a post-COVID world.
The E-Commerce World is Crowded
All of the above factors created a crowded e-commerce marketplace. The competition is fierce. You need to hang on to your current consumer base, grow your digital footprint, and close sales.
Livestream marketing helps you accomplish all three goals.
What is Livestream Marketing?
Livestream is just as it sounds: transmitting live video footage over the internet. Previously, there was a dedicated platform just for live streaming. Today, you can livestream on Facebook, Instagram, Twitter, and other social media platforms.
Livestream marketing is the proactive use of live video to achieve your objectives:
- reach organic consumers
- grow brand loyalty
- expand your digital footprint and
- convert viewers to customers.
Why Should I use Livestream Marketing?
- Going live provides you the opportunity to give an authentic and personal view of your business. You add a voice and face to your brand.
- Live video allows you to create an emotional connection with a live audience that you can’t accomplish with regular video or static content.
- Livestream video is an impactful way to share your brand’s mission. You can talk about your mission-driven purpose and how you strive to bring positive change to the world.
- During a live feed, you can offer sneak peeks at upcoming products, services, events, classes, or book launches.
A live webinar is an example of livestream marketing. It’s a great way to grow brand awareness and establish yourself as a thought leader on topics related to your industry. Allowing your audience to ask questions enables you to go deeper into issues of concern to them.
The Statistics Prove Livestream Marketing is Essential
Are you still wondering whether livestream marketing is worth it? After all, you have many things to do, especially if you’re a small business or solopreneur. And, you’ve already invested time into other digital marketing strategies. Consider these statistics:
- 80% of audiences prefer live video to blog content; 82% prefer live video to social posts. (TechJury)
- Live video grew by 93%, with an average viewing time of 26.4 minutes per episode. (Streaming Media, 2019)
- Ad view for live stream ads has increased by 27% for long-form videos and 20% for short-form videos. (MediaKix)
- According to statistics, roughly 73% of B2B businesses using live video see a positive ROI.
- Livestream marketing increases sales among your target audience by 97% and strengthens brand loyalty by 139%.
- Live broadcasts on LinkedIn receive 24x as many comments.
- In 2018, 60% of viewers conducted online searches while watching a livestream episode. (Neil Patel, 2018)
How Do I Create Livestream Episodes?
Going live can boost you to the top of your competitors. But if done poorly, it can damage your reputation, leaving consumers with a negative perception of your brand and professionalism.
Who is your target audience?
- What are their questions, concerns, interests?
- Where are they? (which social media channels)
What is your goal?
- Reach organic viewers
- Solidify your consumer base
- Introduce new services or products
- Expand your digital footprint
- Put a personal face to your brand
- Establish thought leadership
Be Personal but Polished
Your audience is not expecting a polished performance. Yet, at the same time, you don’t want to adlib. Rehearse ahead of time, but don’t lose your authenticity.
Write a rough script or outline of what you want to say. You can still be spontaneous and show your human side. However, with preparation, you’ll come across as professional and trustworthy.
Be sure you have a strong internet connection.
Check your internet connection, sound, and video equipment. According to research, you’ll start to lose viewers at around the 2-second mark, with an additional 6% bouncing off your feed the longer it takes. (Akamai)
If you’re doing a live webinar, anticipate the questions your audience might have. But don’t be afraid to say that you don’t have the answer.
Mix up Your Livestream Marketing Content
You’ll lose your audience if all your videos sound like advertisements. Try episodes like,
- tutorials on how to help your followers solve problems associated with your industry
- tours of communities or places in the world that resonate with your corporate social responsibility targets
- industry conferences and workshops
- staff outings or special in-office celebrations and events.
How Do I Promote My Livestream Episodes?
You don’t want to go live and see that no one is watching.
- Announce your livestream episode on all your social media channels a week before, the day before, the day of, and right before you go live.
- Post teasers to your social media platforms and website.
- Use your email list, SMS, and other communications tools, such as Whatsapp groups. Preview your topics and guests, if appropriate.
- Be sure the date and time are correct.
- Create an engaging caption to make your live video attractive to the largest possible audience. Be clear about what viewers will see or learn and how they will benefit.
- If you have the budget, create Facebook and Instagram ads. With a small budget, you can reach thousands of potential viewers. Be sure to use video in your ad to attract the largest audience.
What Are the Best Platforms for Livestream Marketing?
You can apply your livestream marketing strategy to most social media platforms, including Facebook, Instagram, LinkedIn, Twitter, and YouTube.
Facebook is the most popular platform for live video. Facebook Live launched in 2016, so the platform has a solid lead in the livestream market. Both Instagram and Facebook have experienced significant increases in the number of viewers watching livestream content.
According to GWI Trends Report 2019, 28% of Facebook users view a livestream platform every month. Instagram’s livestream feature grew by 70% in April 2020. (Business Insider, 2020).
YouTube ranks second behind Google in terms of search traffic. It can serve as a powerful engine to drive your marketing goals.
Periscope is a live streaming app that enables you to broadcast your live video to Twitter. Static tweets are still the norm, but video is slowly dominating Twitter too. Statistics prove that video on Twitter increases your engagement rate by at least 10 percent.
Repurpose and Market Your Livestream
Your live episode may be over, but don’t just let it sit there and get lost in your feed.
- Make small clips of your live video to post as small nuggets on your social media channels or YouTube playlist.
- Post video clips to IGTV, TikTok, Instagram Reels, or Snapchat.
- Transcribe your live video to create blog posts, LinkedIn updates, and Tweets.
Bottom Line
Livestream marketing helps you forge a lasting bond with your consumers. You’ll have difficulty meeting your marketing objectives in today’s world without incorporating live video in your toolbox.
- Be strategic
- Know your target audience
- Be creative and engaging
- Focus on the needs of your consumer audience
- Prepare
- Promote
- Repurpose
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