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“Businesses should leverage the fact that people spend 3x longer watching live video compared to a video that has been pre-recorded. In the modern tech-driven world, brands must use live-streaming video to engage with their customers,” – Forbes.com
Video products represent a modern invention that has fascinated the human mind. The montage of moving pictures is an ideal platform to tell a story, entertain online audiences, and to engage customers. Similarly, social media has emerged as the flagship platform in today’s hyper-connected world, while live streaming of various events represents the cutting edge of Internet-driven media products. Consequently, brands and businesses are exploring the many aspects of using live streaming in a bid to attract more customers and to mark a definitive presence in customer mindscapes. Further, live streaming can help businesses to boost social validity and boost consumer awareness of a brand. In the following paragraphs, we intend to examine some of the techniques that can help businesses to deploy live streaming tactics in the pursuit of commercial targets.
An interesting approach to selling a product is manifest in live streaming the production process. We note that modern customers live and operate in an information-rich society and therefore, commercial organizations can elect to live stream the multiple stages of production. This approach can underline the various quality control methods, the unique origins of a certain product, and the multiple manufacturing and refining techniques that create the end product. Customers may be fascinated by such details and the business can subsequently register an uptick in sales numbers. Additional benefits may accrue when new customers are attracted to the business.
Businesses can deploy live streaming video to attract and ignite customer attention. This technique is useful in modern societies because observers have noted that the growing numbers of online audiences are eroding the customer base of traditional media such as television and radio. Therefore, businesses can harvest significant commercial dividends when they live stream a sponsored event. For instance, a fast food brand or a quick service restaurant can choose live streaming video to promote musical talent through local rock concerts. The broadcast can be fed onto social media handles and brand websites. This chain of events is essentially a marketing strategy that has the potential to attract millions of online viewers. The outcomes of this marketing strategy can include significant numbers of new customers, enhanced brand exposure, and thousands of online conversations that extend the brand’s mileage in cyber space. In addition, businesses can choose to position their brand images in the backdrop of said events to amplify the marketing message.
Contests always attract human attention because modern viewers express inordinate interest in the proceedings and the final outcomes of such projects. Brands and businesses can leverage this aspect of human curiosity and deploy live streaming techniques to attract more customers. For instance, a cosmetics and beauty products manufacturer can elect to live stream certain sections of a beauty pageant wherein, participants are quizzed on their awareness of beauty products. We note that such a project can generate volumes of interest among certain sections of modern audiences, while helping the said manufacturer to gain additional brand mileage. In addition, backstage events and snippets can be live streamed in a bid to whet viewer appetite and to add variety to the broadcast. We note that brands and businesses must script these events carefully so that the outcomes match (and possibly exceed) business expectations.
Businesses that launch new products can use live streaming technology to solicit customer feedback. This technique enables commercial organizations to acquire real time feedback from customers and broadcast these episodes verbatim to online audiences. The novelty in this approach can generate considerable word of mouth publicity and enable customers to gain an appreciation of market feedback. We note that live streaming essentially helps to capture spontaneous customer reactions to new products and therefore, help to impart an authentic flavour to the proceedings. The footage from the live stream can be incorporated into subsequent media products that can fuel future marketing campaigns for said products.
Commercial brands can use live streaming techniques to educate and inform their customers. We note that consumer education is an important aspect of modern commerce because an informed consumer is more likely to generate positive business outcomes. For instance, a consumer electronics manufacturer may live stream certain operating features of its brand new refrigerator product. This action will be highly appreciated by customers because the brand can deploy technical experts and product experts to explain the new features to online audiences. The outcomes can include enlightened customers, higher product sales, fewer product complaints, and deeper customer engagement. In addition, new customers can venture to try the new product directly as an outcome of the live streaming exercise. We note that software manufacturers can deploy similar initiatives when they release new products for use by mainstream customers.
Special offers and limited discounts attract significant volumes of customer attention. Businesses can choose to react to this by live streaming events from multiple retail locations and encouraging customers to avail special offers and time-limited discounts. We note that such a technique will invariably pique customer curiosity and may result in a massive sales surge at said retail destinations. Online word of mouth publicity is likely to amplify the reach and depth of the live streaming event thereby prompting heavy customer traffic. We note that the outcomes may include first time shoppers attracted by the promise of the product and the aforesaid special discounts. Intelligent brands may choose to upsell multiple product lines for the benefit of customers attending the live-streamed events.
Interviews with celebrities can be live-streamed by brands seeking to expand the remit of their business. For instance, a fashion magazine can deploy live streaming techniques to interview celebrities in a bid to heighten its brand quotient. The event can be viewed by social media audiences and therefore attract customer attention to the print and online publications of the said magazine. A regular live streaming feature with major and minor celebrities can help said media product to register fresh customers and to boost its circulation numbers. In addition, the brand reputation of the magazine will likely register an uptick in the afterglow of the live streaming sessions. We note that this technique highlights one of the significant intersections between the real world and the domain of cyber space.
In the preceding paragraphs, we have examined some of the commercial benefits of live streaming techniques. We must note that every brand and business must exert itself to refine and develop these techniques in a bid to creatively exploit the full potential of this unique medium. The on-going advances in technology should aid such creative efforts. Further, marketing departments and business managers may combine their intellects in a bid to gain extra brand mileage based on live streaming mechanisms. A regular live streaming feature may help businesses to gain additional customers because wide swathes of modern customers participate in and follow social media platforms. In addition, we note that businesses can deploy said techniques to connect with their audiences at a deeper level. This can be viewed as an attempt to attract and retain future customers, thus resulting in the expansion of the customer base.
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