Live streaming used to be only an extra marketing edge for companies. But after seeing the massive turnout of YouTube’s E3 (Electronic Entertainment Expo) stream in 2016, companies want to extend their video marketing with live streaming.
No Cuts Enhance Brand Transparency Accessibility
What marketers like about live streaming is that people who do not work for the company are genuinely promoting products and brands. As seen by popular videogamers on YouTube and Twitch, live streaming gives people a raw, unedited reaction and reception of gamers towards a game. People get a sense of how much fun gamers experience through these live playthroughs.
Today, the industry counts transparency and accessibility as important elements in marketing strategies. With the majority of the population made up of skeptic Millennials, companies enlist the help of reliable and personable social media influencers to promote or review their products. This approach lessens the “all spin no substance” perception of Millennials towards advertisements.
Cost Effective Marketing Strategy
On the other hand, hiring influencers can be costly. Online personalities with a hundred thousand followers charge roughly around $1,000 per Instagram post. High profile celebrities like Kim Kardashian West reportedly charges over $250,000 for a single post.
Consumers like to hear from the company themselves from time to time. Live streaming could be the least costly video marketing strategy available. All it takes is a stable internet connection, an app with live streaming features, and a decent phone or camera.
“Insta-famous” beauty brand ColourPop is well-known for announcing product updates and company news via Instagram’s live video feature. Their live streams usually feature people working for the company and who reveal and test new items on themselves.
Known to be one of the first companies to experiment with live streaming, music streaming service Spotify used Periscope to broadcast an impromptu performance of Connor O’Brien of the band Villagers. The stream garnered 1,500 hearts and around 200 replays.
Raw, Unedited Possibilities
Spotify partnered with fellow music streaming service Meerkat in 2015. Using the latter, Spotify was able to broadcast an extensive video coverage of SXSW (South by Southwest) 2015 music festival.
Bigger companies with bigger budget take live streaming to new heights. GE launched #DRONEWEEK, a live coast to coast broadcast on Periscope all done by a camera attached to a drone.
Even pop star Katy Perry made use of the advantages of live streaming. In light of the promotions of her recent album Witness, Katy Perry collaborated with YouTube and held a 96-hour live stream of her day to day activities. The live stream featured the artist going about her activities while meeting various guest stars including Gordon Ramsey, RuPaul, and Anna Kendrick.
The rise of video will not see its end shortly. With the current consumer behaviors and the evolving process of receiving information, video content will remain an effective marketing strategy. For the digitally native Millennials and Gen Z kids, live streaming combines the power of video with the values of transparency and accessibility.