Live streaming industry is full of marquee names. The industry has Facebook Live, Twitter’s Periscope, Instagram Stories and Snapchat. Businesses have lofty expectations on live streaming platforms as they help brands communicate with audiences. Interaction and customer engagement is the formula that brands are faithfully sticking to. And yes, viewers prefer live videos from brands and not just run-of-the-mill social media posts.
To say live streaming is an overnight phenomenon is wrong in many ways. Many industry leaders are convinced that live video streaming is an extension of video marketing. They are also convinced that live streaming lends stability and shape to marketing strategies.
The returns on live video streaming are amazing. Brands do not require any expensive or fancy paraphernalia. They just require an HD camera, a tripod, and a good internet connection. Many popular live streaming platforms are absolutely free. Let’s look at some numbers.
Facebook has more than 2.2 billion active users. Interestingly, Facebook Live has 360 million active users. Periscope has 10 million users while the number of active users is 1.9 million. Of course, its numbers aren’t as impressive as those of Facebook. Let’s now look at Instagram. Instagram Stories has more than 300 million daily active users. Snapchat has an estimated 191 million daily active users. To be upfront, the numbers are overwhelmingly large!
Can brands ignore such numbers? No! Brands should use different live streaming platforms to their advantage and to the fullest.
There is this FOMO – Fear of Missing Out factor which is fast catching up with viewers. To satiate their curiosity and immense anxiety, viewers are tuning into live streaming. More importantly, audiences want to gratify their intellectual curiosity and hence, brands should use live video streaming to educate customers about the benefits and advantages of their product and service offerings.
The infographic below gives a quick insight into why you should consider live video for your business or brand, which platforms to use, and what formats to explore.