We have previously written an article about different ways of using live streaming video for businesses. Now let us talk about live streaming as one of the trendiest online developments nowadays. Everyone is using it whether it is on a personal or a business level. We see live streaming on social media such as Facebook and Twitter, but there are also some leading brands, which are implementing live video on their websites, to connect with their audience in real time and improve their online customer engagement.
Adidas has been driving live streaming video innovation last year with its digital marketing campaigns. In March 2016, just a day after Twitter unveiled Periscope, Adidas Football streamed live video of Real Madrid star James Rodriguez signing a contract extension with the brand, under the hashtag #ThereWillBeHaters. Also in March, the sportswear company used Twitter’s group direct message feature for its #ThereWillBeHaters campaign, letting fans have a private group conversation with footballer Karim Benzema.
Even though this technological innovation has been giving real life a digital conception, it remains one of the most misunderstood technologies out there. We have detected 6 of the biggest misconceptions that people have regarding live streaming and will show you why these misconceptions are in fact nothing but myths that people tell themselves whenever a big innovation is bound to change our way of doing things.
Myth number 1: LIVE STREAMING FOR BUSINESS IS EXPENSIVE
This first misconception bases the issue on expenses, which is not the case because social media offers free live streaming for businesses. The problem that you would have as a business live streaming on social media is that you would be focusing only on the audience that is online during your stream.
However, if a brand would like to reach audiences beyond social media platforms, they would need to look at implementing live streaming video also on their website or landing page. This way, brands would be able to engage better with their entire web audience and what is more, they would be able to redirect web traffic from their other online marketing campaigns straight to this real time brand experience.
Myth number 2: LIVE STREAMING DECREASES ATTENDANCE AT EVENTS
A lot of business worry that promoting the live stream of their event would directly affect the number of attendees. For that, many would say that live streaming only makes sense for big events such as big concerts or product launches.
What these businesses fail to see is that live streaming is a great way to expand your number of attendees. And you can generate a wider reach without creating limits for yourself. What affects attendance is not live streaming but the quality of the content provided during the event. That being said, someone watching a stream of a live event is more likely to attend the following year thanks to the quality of the content. If that person did not have the option to watch the event on live stream they would be more likely to sit it out next year. If we look at the Cochella music festival in 2011, the tickets sold out in a couple of months. In 2012, due to the live streaming of the festival in 2011, the tickets sold out in a matter of 3 hours.
“30% of people who watch a livestream of an event will attend the same event in person the following year” Digitell
“In 2015, Salesforce’s Dreamforce Conference reached 75x the number of people who attended in person via video. With 160,000 registered attendees that mean they reached 12 million individuals via video — individuals who are now more likely to attend the next conference in person. In fact, live streaming might be most appealing to small events with an attendance cap, so you can maintain an intimate experience while reaching a broad audience. “Eventbrite
Myth number 3: LIVE STREAMING VIEWER RATE IS LOW
This myth states that no one will watch a live stream. The secret of viewer rate hides within creative strategies and the content of the event and not the fact that people do not watch live streaming. You can increase viewing rate by providing real time interaction with the audience with Q&As or developing a teaser campaign previous to the live stream products or services and to improve your brand's online engagement.
“According to Facebook Live, users watch live video 3x longer and comment 10x more than recorded footage” Eventbrite
Myth number 4: LIVE STREAMING REQUIRES BIG INVESTMENT IN TECHNOLOGY AND MULTIMEDIA
Some people are told that it is crucial to have a camera and a computer on hand to be able to live stream… FALSE. You can easily use a smart phone for both filming and streaming but you are required to have an Internet connection that´s for sure. The purpose of live streaming is to engage with your customers in real time and increase the number of engaged viewers and average time spent on your website or landing page, but also to build your brand awareness and form commitment online.
Live streaming video removes the barrier for communication between a brand and the customer. It brings the possibility of one-to-one face-to-face conversation online.
Myth number 5: WITH LIVE STREAMING YOU LOSE COPYRIGHTS AND CONTENT OF THE VIDEO
If you are familiar with live streaming video, or use it for your business on social media platforms, you know well enough that there is no way you can lose anything. You can save the videos and use them later on to enrich your content marketing. They are great for social media sharing!
Myth number 6: ONLINE LIVE VIDEO STREAMING HAS RESTRICTED AUDIENCE
Another misconception in the making stating that live streaming has a restricted target. But nowadays, almost everyone has Internet access (around 80%, www.internetworldstats.com/stats) to it whether it is through phone, tablet or computer. Depending on the content you are streaming and your audience, live streaming can reach everyone.
One of the biggest live streaming news of the moment:
Amazon has paid $ 50 millions to have the exclusivity to live stream 10 NFL games for its prime viewers. The main purpose is to attract more customers into paying for the prime amazon membership.
This strategic move will also be able to place personalized product advertisement during the games depending on the viewers ‘purchase history thanks to Amazon’s client database. Hence, this push promo will increase online purchase orders.
To sum up, live streaming basically provides clients with the same service in store and online in order to exceed client´s expectations. Live-streaming video is about connecting with your audience in real-time. It defies traditional marketing limitations and it gives brands the capability to reach hundreds of people with just one presenter. It is safe to say that the future of live-streaming video success belongs to brands that will embrace the conversation and show their human side.