In the age of technology, more and more brands are incorporating live video content into their marketing strategy. Let’s take a look at how and why live streaming can benefit marketing efforts, particularly audience potential and conversion rates.
How does live streaming benefit marketing efforts?
Over the past few years, live streaming has seen a significant uptake – be it for video-calling colleagues across the world or hosting video conferences. Not only has live streaming made business communications more streamlined and accessible, but it also simultaneously provides the convenience of virtual communication with the additional benefits of face-to-face interaction.
This technique has long since been utilized by online casino platforms, combining the on-demand nature of online casinos with the social aspects of live gaming. For example, a selection of roulette games at Betfair Casino can be played live, where a real croupier spins a real roulette wheel, which is then live streamed to the real players that have logged into the game. In this sense, incorporating live streaming technology into the virtual realm makes experiences more immersive and personable.
The same applies in digital marketing, where live streaming allows brands to directly engage with their target audiences and introduce a human touch to the brand voice. In turn, this can make the digital marketing efforts more immersive and relatable, which in turn provides the opportunity to better engage audiences, keep their attention, drive traffic directly to targeted sites, streamline the sales funnel, and ultimately increase conversion rates.
Does it really engage audiences and boost conversions?
In the age of instant gratification, it is only logical that consumers prefer media that require minimal input for the maximum payout. In fact, one study reported by New York Magazine found that 80% of consumers prefer watching a live video from a brand, compared to reading a blog post. 82% of consumers also reported preferring live video content to social media posts.
Of course, when we think about live streaming videos, the chances are that you have conjured up images of live posts on platforms like Instagram, TikTok, or Facebook. Though live streaming on these platforms can be beneficial as part of some brands’ digital marketing strategy, as it can make the brand seem more human and relatable, the reality is that this is not always the case.
Instead, those that have more of a formal or serious brand – for example, financial businesses – might adapt their live streaming strategy to better suit their message. This might involve hosting videos on your website – or, most fruitfully, these brands can significantly benefit from hosting webinars. Webinars can be utilized for product demonstrations, tutorials, product launches, and as part of a consumer-centric marketing strategy to teach the audience something meaningful. Though the latter doesn’t obviously encourage sales, it will contribute towards brand authority, cementing you as an expert in the industry.
But, what about reach and conversions? Let’s take a look at the statistics. According to data compiled by HubSpot, 53% of marketers cite webinars as a top-of-the-funnel format, which generates the most high-quality leads. Furthermore, 74% of marketers report webinars as the key to reaching more leads, and 75% believe it widens the reach of the brand. From the audience perspective, 91% of people who attend webinars report their next step is to visit the brand’s website for further information. Overall, 91% of webinar marketers report their campaign generating a successful amount of leads and conversions.