Live streaming’s popularity has skyrocketed in recent years. The Pew Research Center reported that 61% of young adults in the United States mostly use streaming video to watch TV. Such statistics indicate the future potential of video marketing.
Today’s marketing sector requires business and management skills to compete in a highly competitive and rapidly expanding industry. For instance, technology and the web in particular have greatly disrupted “business as usual.”
Marketers can leverage live streaming’s influence on industries like entertainment and even sports betting.
This article will discuss several of the potential ways streaming video can create an impact on the future of marketing.
The primary reasons live streaming epitomizes the future of marketing include:
Mobile-Friendly Live Streaming
Smartphone ownership has increased in past years. In addition, people are also relying on their mobile devices more. The Pew Research Center reported that 15% of U.S. adults are smartphone-only internet users (2021)
This situation provides an opportunity for a wide range of new live-streaming applications for smartphones. For instance, companies can share high-quality streaming videos through the 5th-generation mobile network (5G).
This technology allows potential customers to view streaming videos from virtually anywhere. They can use their mobile phones or tablets, for example.
Other technologies like ultra-high definition (UHD) video can provide crisper video for mobile devices.
Video Monetization
As video and live streaming, in particular, increase in popularity, your company must find ways to monetize video outputs. For example, if your business is broadcasting a live event, you can earn revenue through ticket sales.
It may be surprising how many ways your company can use video monetization. Sources like professional streaming services can help guide your company.
For instance, you can charge people to watch live events like they’d pay for tickets at a movie theater or live concert. Some options include pay-per-view (PPV) and monthly subscriptions.
More Marketing Flexibility
Companies can certainly use uploaded online videos effectively, such as online ads. Live streaming, on the other hand, provides companies with more flexibility and innovation.
Here are some examples. Your company can offer unique themes or live events through streaming video.
It can also live stream customer reactions, such as unboxing videos. Such live videos provide an immersive experience for potential customers.
One way to perceive these dynamics is video as a “window” into your company.
Analytics Tracking
You can get this feature from different sources, including some video streaming services. These tools can provide insights about a streaming platform that may benefit your marketing strategies.
For example, such information can provide key information about the viewers and their video-watching habits. It’s an excellent reason to consider professional streaming services since you can get such perks.
For instance, let’s say your company is planning a live event. Analytics dashboards and tracking tools can analyze the event’s outcome.
Your marketing team can then determine how to adjust and improve your marketing strategies accordingly.
Your company can review several key metrics, including these viewer stats:
- Numbers
- Engagement
- Behaviors
Your business can then pinpoint its customer profile and determine who’s most likely to watch its live videos. For instance, what are the demographics of your “average” customer?
Increased Accessibility for Potential Customers
Today, many people prefer to watch videos than read blogs. People often prefer to read information from digital devices like PCs, tablets, and smartphones. Ebooks have greatly replaced traditional paper books.
In addition, live streaming has become increasingly popular as watching videos can be more interactive than reading a book, for instance. In addition, many social networks have rolled out live-streaming platforms like Facebook Live.
This phenomenon provides companies with a potentially effective way to reach their target market through streaming video. An example is interacting with potential customers through social media platforms.
Social marketing through real-time videos may result in more leads and sales.
Live streaming boosts people’s accessibility. For example, internet users can share their daily lives. People can access content anywhere and anytime with a device.
Collect Valuable Marketing Data
Companies need to learn about their target market so they can develop more effective marketing strategies and campaigns.
Video streaming provides an effective way that companies can learn more about their customers. Who are they? What do they want? How are they most likely to consume video content?
Your company can collect such information by allowing customers to provide feedback connected to streaming videos. Comments, response videos, and surveys are just some ways they can interact with your company.
Reach a Bigger Audience
While video streaming makes content more accessible to potential customers, it also makes it easier for companies to reach a larger audience.
Technology advances during the past few decades have made it easier for companies to reach global consumers. The internet, mobile devices, and video streaming are ways companies can reach their target audience.
In addition, marketing tools continue to evolve in the digital age. In the past, email marketing campaigns functioned as one of the most effective ways to reach a large online audience.
However, spam mail and phishing scams have greatly changed this situation. Today, live streaming supplies companies with one of the most effective ways to reach a wide audience.
Video marketing provides an impactful manner for companies to use target marketing. This approach can reach people and most likely encourage them to purchase your products.
Conclusion
Live streaming video will undoubtedly play a prominent role in future marketing tools. It provides potential customers with a dynamic, interactive, and fun way to communicate with your market.
Your company needs to learn more about using streaming video to interact with your current and potential customers. Research and experiment to find the best ways your business can weave live videos into its tapestry of effective marketing strategies.
References
1. About 6 in 10 young adults in the U.S. primarily use online streaming to watch TV
2. Mobile fact sheet
