Happy New Year! With the start of 2018, I couldn’t resist to predict the destiny of this year. This time the limelight is on live video streaming that will account for 80% of all internet traffic in the next four years. How exciting right? Check out the slides below for ten revolutionary ways you can use live videos to kickstart your business this year.
Live Video Streaming Industry
The art of making a video has changed tremendously with progressive technologies such as new equipment and software for video production, editing and distribution. It’ll be ignorant to undermine the popularity of live videos in advertising, marketing, event management and visual communication.
In fact, the live video streaming industry is estimated to grow by 39% from 2016 to 2021. The market will grow at a compound annual growth rate (CAGR) of 18.3%. According to a study by livestream, it was calculated that 82% of the participants favored live video on social media and 80% preferred live videos over blog posts.
Social media platforms such as Facebook, LinkedIn and Instagram are whole-heartedly embracing live videos and bringing in creative ways to use this trend. In the slides below, you’ll know how these social websites are making communication more visual and interactive.
Explore: Going Native With Video Marketing
Brands Using Live Videos
With all this happening, only a fool would refrain from using live videos! Some brands are actively making and sharing live videos on the internet. Here are a few examples for your inspiration.
- The online marketplace for hospitality services, Airbnb began using the live and 360 degrees features on Twitter and Periscope, respectively to attract travelers to new destinations.
- Both General Motors and Nissan used live streaming video on Facebook to launch their auto shows and new car models.
- Cosmetics manufacturer Benefit has been making live videos to display its products and to educate consumers with its series ‘Tipsy Tricks’, every Thursday.
- Experian creates live videos to chit chat about finances such as student loans, credit and debt etc. The videos with hashtag #CreditChat are shared on Periscope, Twitter, Snapchat and Facebook Live.
Senior Research Analyst at Business Insider, Dylan Mortensen suggests that there are mainly three ways in which brands are leveraging live streaming videos to connect and engage customers: behind-the-scene footage, product launch and tutorials. Well, most of the live videos display this type of content but I feel that brands are also using the facility to feature real-time events and to conduct interviews with industry professionals and influencers.
Why Invest In Live Videos?
Unlike an image or a blog post, producing a live video is a challenging inbound marketing strategy. Nevertheless, it is an effective way to entice digital customers towards your brand in different and exciting ways. Following are a few reasons why you need to invest your resources in live videos.
According to eMarketer, brands will be seen shifting their advertising budget from television to digital media and specifically focus on live stream videos for ads. So when it comes to pay-per-click, know that still images are a thing of the past.
Although live streaming videos just became popular, brands are already leveraging mid-roll video adverts, micropayments and digital wallets in order to monetize their live streams online. So look at the slides below to explore ten super-amazing ways you can use live videos in 2018.
I understand that small businesses and startups may face challenges regarding finances to make a full-fledged live video and keep up with these trends but the great thing is that there is a lot of lee-way here. You can always start off small and grow big.
Got more ideas for live videos? Share them with us.