As technology continuously changes and consumers find new ways to engage with the companies and brands they love, marketers are tasked with the increasing demand of staying on top of their game. The rise in social media platforms means businesses must find new ways to market to consumers and keep them engaged, which is no simple feat considering our attention spans have been reduced to a mere eight seconds.
Because content has been and always will be king, it is crucial for marketers to ensure they are always utilizing the most up-to-date and engaging practices possible when it comes to reaching customers and promoting a brand. The advancement of technology over the past decade has changed the way content is presented to consumers; gone are the days of companies being restricted to print ads, or a 30 second commercial on the television or radio. The growing popularity of social media and the invention of high-speed, wireless internet has given way to digital marketing and ushered in a new form of marketing that is quickly becoming an effective method of connecting consumers with brands: live streaming.
The global video streaming market is expected to reach $124.57 billion before 2025, making it one of the most valuable vehicles for marketers when it comes to brand promotion. Live video marketing has capitalized on the streaming movement and has managed to make its own impact within the industry. Based on a study by Vimeo: Over 80% of audiences prefer to view a live video from a brand over social media posts; enjoyment of a video leads to an increase in sales intent by 97%.
Facebook vs. Instagram for Streaming Marketing
Two of the biggest names when it comes to social media are Facebook and Instagram and they have both proved to be a valuable resource when it comes to streaming marketing. While the platforms share a few similarities:
- Both notify users that a brand they follow is initiating a live broadcast;
- Both track and display the number of viewers in real-time and allow for comments to be made for viewers, allowing the host to interact with the audience.
The biggest difference is in the availability of a live post after the broadcast has ended. Facebook has the capability of saving and sharing a video at the end of the broadcast, giving fans the chance to save, share, and re-watch at a later date. When broadcasting via Instagram, the video is only available for 24 hours. While the video is more permanently available on Facebook, Instagram’s notification system prioritizes live streaming notifications and the limited viewing time may create a sense of urgency for followers, increasing the chances that they will tune in to the broadcast.
Best Live Streaming Marketing Practices for Facebook
- Utilize the save feature- Because Facebook saves any live broadcast, it is important to put the file to use even after the video has ended. Sharing the video on a business page will allow users to go back and watch it as many times as they’d like.
- Share on other mediums- Your saved video can be repurposed and shared on another website or page.
- 15-20 minutes is the sweet spot- A study by BuzzSumo found that engagement rates of Facebook live videos increased around 15 minutes into the video.
- Review video metrics- It’s no secret that Facebook is great at collecting data and it’s no different when it comes to video metrics. Utilizing the built-in video performance tools on Facebook will help businesses better understand their audiences.
Best Live Streaming Marketing Practices for Instagram
- Hype audiences before going live- Since Instagram’s live videos are only available for 24 hours after the broadcast is complete, it is important to make sure audiences are ready. Advertise a broadcast with posts a few weeks and days prior to going live.
- Utilize the limited viewing time- The limited viewing time for a live broadcast doesn’t necessarily have to be a bad thing. Capitalize on this feature by creating a sense of urgency with followers and promote a limited offer to pull on an audience’s FOMO.
- Extend your audience reach with the “Add A Friend” feature- One of the coolest features of the Instagram live video is that it has the capability to add additional people to the live stream broadcast, allowing businesses to access a whole new network of followers.
Utilizing Live Video Marketing for Your Business
Grand Openings and Live Events
Get followers excited about a live event, or promote the opening of a new business by live streaming. This will give followers who may not be able to attend the event live the chance to still be part of the action and keep them connected to the business.
Give followers the chance to know some of their favorite people by hosting a live stream interview with a celebrity or industry leader. Followers will have a unique opportunity to ask questions and learn more about the people they follow daily.
Behind the scenes tours
Many followers of brands love getting the chance to get a behind the scenes look at how business is run. Going live to provide an in-depth look at how a company conducts day-to-day business is a great marketing opportunity that will help followers feel more connected to their favorite brands.
Influencer marketing is quickly becoming one of the top ways that companies’ market to consumers and build their brands. Allowing a popular influencer to take over a company live stream is a great way to promote a new product and reach new groups of followers.
The use of affiliate marketing for takeovers is the perfect option for businesses who may be new to influencer marketing and takeovers, only requiring payment to influencers when a sale occurs via an affiliate link.
How to Use Live Streaming for Influencer Marketing
The rapid rise in popularity of influencer marketing has given companies a new way to meet the growing demand of providing an exceptional customer experience to their audiences. Influencer marketing is a valuable resource for creating content used for ads and promotions.
Pairing a strong influencer with a live stream may seem like a daunting task, but taking the time to establish an influencer marketing strategy is well worth it, as the industry is projected to become a $10 billion industry by 2020.
It is imperative that before launching a live stream with an influencer, a business is ready to track the data available after the broadcast. This will help analyze the ROI and effectiveness of the influencer. With the help of a customized plan, companies have everything they need to successfully manage and track streaming marketing campaigns led by influencers, easily find the perfect influencer to promote a brand and track views and participation of a broadcast. Check out our influencer marketing software to help you find an influencer that fits your needs.