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Live streaming isn’t a new concept. YouTube, for example, has been featuring live videos for a while now, and Twitch, a live video game streaming platform owned by Amazon, has been around since 2011. A study by Cisco underlines the fact that consumer internet video traffic will reach 80 percent of all consumer Internet traffic in 2019, compared with 64 percent in 2014.
However, the live-streaming industry has recently been growing at an exponential rate since the launch of Periscope and Meerkat. Both launched at the beginning of 2015 and have been gaining more and more users ever since.
Periscope, bought by Twitter in February 2015 for $100 million, is currently the number 1 fastest growing social media network. Both of these platforms allow their users to broadcast live video from their smartphone for free to followers. Anyone can use it, for any purpose, from anywhere in the world.
Brands have jumped on the opportunity that these live-streaming apps provide: the ability to communicate easily with their customers at no cost.
Why are live-streaming apps the next big thing? And how can you apply them to your business communication and marketing strategy? Read on!
1. A brand new market
The live streaming video market still has very few brands utilizing its full potential. Now is the perfect time to invest in these social networks with almost no competition. There is tons of space to display your company’s content and visibility will be much greater than on other platforms.
2. Express yourself
This is a real opportunity to truly connect with your customers and give your brand an identity. It will help you to build trust and humanize your brand thanks to the personal nature of video communication. By allowing people to put a face on a company, your brand will increase engagement and positive opinions.
3. New opportunities
There are many possibilities with this new medium, such as showcasing new products live, filming an event that you host to share it with your followers that couldn’t attend, give a live tutorial on your product, or even a behind the scenes on how your product is made. It is also possible to let your team present itself or ask a celebrity to host a live broadcast for your brand and gain massive attraction form it. The possibilities are almost limitless!
4. Immediate customer engagement
Probably one of the most important things about live streaming. Broadcasting live has advantages such as immediate response and feedback on your products or answering questions from customers. Communicating live with your customers will boost customer engagement and will help you improve your product or service.
5. A new way to share and to target
These apps have a map feature that allows companies to target specific audiences based on their location. It is a very practical way to get your message to your desired audience by choosing a market, topic, and center of interest. With sharing, live streaming is very interesting, especially for small businesses. A company that makes a live video on Periscope that gets retweeted by any person with a large following on Twitter can go very big.
Live streaming can really be the next way companies connect with, engage, and encourage buying from customers. The interaction between companies, brands and customers could experience a big shift, and alter the marketing and communication industry.
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