Digital marketing has spent much of the past decade looking to social media for the latest trends in cool content. So, it should come as no surprise that the popularity of live video streaming has grabbed the attention and imagination of marketers worldwide.Live video streaming or livestreaming involves broadcasting video content on the internet in real time. The idea of streaming video on the web for promotional purposes is not entirely new; businesses have been using webcasting to share key events with wider audiences online for a number of years.
But the game changer has been the recent explosion in dedicated live streaming app such as Facebook Live, Youtube Live, Periscope, Meerkat, Younow, Twitch and many more are giving millions of users worldwide opportunity to broadcast live to the world at the touch of a button. And millions are watching.
It is this level of popularity which has grabbed the attention of the marketing industry, speeding up the on-going shift in advertising spend away from television towards digital video. A recent poll of US marketers found 41% are keen to trial live video streaming as a content platform. One-fifth of US media decision-makers have already allocated budget to advertise around livestream content in the next 6 months.
So why the buzz?
Livestreaming is proving a hit on social media because it is immediate, it is personal and it feels authentic. In a world where people expect much video content to be heavily staged and layered with CGI effects, livestreaming feels stripped back and more real. The popularity can be compared to the viewing figure peaks seen for a big live sporting event or a major live news broadcast. People love watching live content.
That buzz has created a rush of demand to advertise around livestream content, hiking prices way up above comparable online display rates. On the other side of the coin, the close association with livestream has helped social media overtake dedicated video services as the preferred platform for digital video campaigns – according to Trusted Media Brands, 65% of US marketers would rather use Facebook and Twitter than Youtube. With that kind of pulling power, you cannot afford not to be in on livestream.
The power of livestream is not just about the size of the audience. According to research from Brandlive, a specialist livestream SaaS consultancy, 79% of US-based retail executives feel that live video streaming helps to create more authentic interactions than other forms of digital media, adding a ‘human’ element. Not only does the sense of immediacy and authenticity attract large audiences, it helps to establish trust in a brand and positive interaction.
In the same survey, just under a third of respondents cited the fact that livestream offers real-time feedback from customers. The ‘live’ aspect creates the conditions for a genuine conversation with an audience of thousands, as everyone can log their thoughts and reactions there and then. And while the ‘live’ element carries much of the power of the format, and content produced can of course be recorded to be reused again, helping to drive traffic to websites where archives are hosted.
If you are looking to keep up with the latest trends with your digital marketing campaigns, Position2 has the expertise and industry insights to provide the support you need!