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How Businesses Can Use Live Streaming To Their Advantage?

Young woman live streaming at home

How Businesses Can Use Live Streaming To Their Advantage?

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Live streaming has been around for a long. But only recently have businesses started making use of this innovative and cost-effective technology to gain a foothold in the entrepreneurial realm. Live streaming is more than a marketing ploy. It’s a tried and tested way to reach a wider customer base without having to spend a fortune on lead generation techniques.

Also, the popularity of live streaming has further been vindicated by the unprecedented popularity of platforms like YouTube, Twitch, and Facebook and their curated live streaming services. As per reports, the entire streaming industry, precisely live streaming, is expected to reach a market valuation of almost $184.3 billion by the end of 2027.

Live Streaming In The Post-Pandemic Era

Businesses during and after Covid19 were physically dissociated from the customers. Still, a majority of them were digitally connected to the social media followers, prospective leads, and existing clients via social media platforms. This is when businesses started taking live streaming seriously as it allowed them to keep the customers updated regarding the latest launches and in-house activities.

Still, live streaming, as a business-centric tool is in its infancy and it would still take a lot of practice on the part of the organizations to perfect the same. In the subsequent sections, we talk about 10 of the best strategies to accommodate and use live streaming as an essential and productive entrepreneurial resource:

1. Start With Live Interviews

If you are considering live streaming for the first time, it is better to start slow and concentrate only on live interviews. Businesses with a decent amount of social media following and online exposure can start broadcasting live interviews for boosting interactions and expanding brand exposure.

Moreover, live interviews aren’t restricted to the social platform and dedicated streaming platforms. Instead, as a business, you can broadcast the live interviews over cable TV and other channels of relevance that show live content.

Besides, the advent of streaming devices and IPTV services has also made live interviews a lucrative proposition for most businesses. Even customers with restricted social media identity can be reached as most smart TVs and streaming devices have a big collection of amazing apps and IPTV services for viewing live broadcasts and therefore, live interviews

2. Follow Up With Q&As

The impact of ‘Ask me anything’ sessions cannot be undermined. Best deployed by YouTubers and social media influencers, Q&A sessions are some of the best ways to use live streaming to your advantage.

As a business, conducting a weekly Q&A session can have a massive impact on the customers and prospective leads. Interactions are a given but what works best is the solidarity that comes riding on the escalated brand identity.

Plus, it is a great start to drive engagement as customers actually put forth what they have in mind. Also, lead generation is obvious and this trick even helps a brand create lasting relationships with the audience.

3. Product Tutorials

The post-pandemic era seems to be focused more on trust-building. For businesses, this approach is best envisioned via product tutorials and organic promotions where they end up talking about the product in real-time, whilst enlisting every aspect, highs, and even the lows.

Live streaming is prevalent in 2021, owing to the emergence of Live TV apps like FuboTV, Google TV, and more. This is why product tutorials as a live streaming strategy are becoming all the more popular, as it is now easier to reach a wider audience base, with minimal effort and investment.

Also, tutorials and live promotions are effective at improving sales conversion, whilst offering ample reusable material as pre-recorded social media content.

4. Product Launches

Reputed brands like Honda, Apple, Google, and Gucci have already resorted to Live product launches. An effective way to bring products out in the open, a live launch is the best technique to gain traction for a business.

Live product launches, clubbed with a flash sale or a product demonstration, are impactful resources that a business can use to make a lasting impression.

Plus, a real-time launch works miraculously well, both as an offline and online tactic to build tremendous levels of user engagement.

5. BTS And More

Brands that spend time streaming Behind-the-Scene footage of their workplace are expected to reach a bigger audience base, especially in the post-pandemic era. In 2021, most customers rely on brands that they trust, and BTS footage a good way for the brands to build the same.

Also, live BTS footage works better as compared to the pre-recorded and doctored ones, owing to the real-time audience connectivity. This live streaming strategy is also a good way to show the benevolence of a business set up with the owners acknowledging the R&D teams and recognizing the human faces behind the brand in general.

6. Sneak Peaks

Live streaming can be an effective strategy to build brand-centric hype. For instance, if a certain brand is planning to launch a product in near future, it can use live streaming to talk about an essential feature without disclosing the product. Multiple live streams during the course of a month or week, all hinting towards a specific product is a good way to boost traffic and conversions.

7. Educational Videos

A path less taken, educational videos are hard to create but offer exceptional outreach to a specific brand. Live product tutorials, service dissections, and virtual training sessions are excellent customer appeasing approaches that brands can take to make a lasting impression.

If you are seeking inspiration for setting up something similar, take note of Satya Nadella’s keynotes, which are known to attract several viewers for Microsoft’s already successful YouTube channel.

8. Offline Event Streaming

It seems that the pandemic is all set to reappear. However, businesses have braced themselves for a testing situation like this and all are geared up to take the covid19, head-on.

Still, the pandemic in its prime is expected to minimize free-willed movements, making businesses rely on restricted offline gatherings, in case the event demands physical demonstrations. Live streaming can be handy even in this case, as businesses can always stream offline content for making an impression in front of the online clientele.

Also, this strategy helps create a buzz around the brand whilst supporting community growth and rewarding interactions.

9. Competition Broadcasting

Businesses can get inventive and plan on conducting live events and competitions. While this often calls for an initial investment and ingenious ideation, the end results are a lot more productive for the concerned businesses.

This approach readily amplifies the views and increases the social craze concerning the brand.

10. Influencer Marketing

As a business, you can consider handing over the reins of your account to an influencer, owing to their popularity and social media reach. These influencers do the heavy lifting for the brand and drive massive traffic via boosted live streams, offer projections, and other ingenious hacks.

Conclusion

Each of these strategies to use live streaming for an added advantage is expected to pay rich dividends, provided the brand uses them carefully and with unmatched precision. Moreover, with close to 3.96 billion users being active in social media and several others using streaming devices and services to view live TV, live broadcasting seems to be the next big thing for most businesses, when post-pandemic marketing campaigns are concerned.

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