How Live Video Streaming Can Benefit Different Business Verticals?

“Go LIVE” is the new mantra for success.

Live Streaming Technology is trending at the moment and evolving constantly. In fact, of late its usage has increased by 4 times for branding. No wonder, giants like Twitter, Vimeo, Facebook & many others have already joined the bandwagon.

Thus, this fact is very much evident that live video streaming apps are the big thing in the video industry, with the world moving towards technology evolution and most of us willing to get things done on-the-go.

“74% of marketers & small business owners stated that after using videos they noticed its direct effect on their business. Cisco Inc. avers that by the end of the year 2019, videos will account for 80% of global internet traffic.”

Some Statistics About Live Video Streaming

“Even when you leave all the above statistics aside, can you ready ignore this one? Did you know that the live stream Games of Thrones had more than 3.5 million views and raised around 200,000 comments when it played on Facebook?”GOT

Who needs Live Video Streaming Solutions?

Other than for fun stuff, these apps have gained prominence as a marketing tool as well. As per the stats, actual video content is trending the most right now, so it’ll be a great idea to start your first broadcast. Live streaming video won’t just grab the attention of new clients but will also keep the existing users entertained & informed.

Live Streaming App Can Help Business and Individuals In

  • Capturing more attention
  • Allowing real-time delivery
  • Establishing brand loyalty
  • Render incredible reach

Live Streaming App Utilities for Different business Verticals

Many businesses nowadays are developing their own live video streaming application. This way, they get to serve the audience’s interests and show them the product development & release process. It clear that live video streaming app development is actually a great way to take your business to new heights.

So, let’s find out which fields can work with live streaming and how differently each of them works.

Retail Industry

This is one niche that consists of a huge number of apps, and owing it the fact of it being in the list of most prominent niche, hence the owners need to constantly look for new strategies and ways to attract customer attention and appeal to them so to remain competitive. Knowing how popular live streaming business is, retailers can use it not just for marketing but to enhance sales as well. Enable people to make purchases even while streaming.

  • Educate Remote Team- Educate remote sales representatives prior to sell-in
  • Engage Employees — Ensure your internal communications and meetings are clear, engaging, and timely.
  • Motivate distributors — Efficiently communicate with channel partners, promote incentive programs to increase market share
  • Train retail associates — Connect product experts to retail associates and Deliver critical sales and merchandising information prior to product roll-out.
  • Entice Shoppers — Activate shoppers with online product launches, flash sales, and seasonal promotions.
  • Social Media Engagement — Leverage your endorsers and influencers to activate followers on social media and drive traffic to your owned digital properties.

Real Estate

This is again one industry that can make the most from live video streaming. For the unbeknownst, one of the largest Australia real estate websites, Domain uses Facebook Live for live auction streaming. And why just auction, live streaming can work wonders for real estate display as well, and users won’t require going elsewhere and they can get their queries to resolve regarding insurance, place of residence, taxes, neighbors, etc.

In the arena of Real Estate, marketing largely depends on the visual components, so usage of live streaming with all the visual details provided in real-time serves the purpose very well. Additionally, low costing and ease-of-use of this solution make it very profitable, and with the right approach, it also helps in reducing marketing costs involved.

Logistics

This domain consists of customers concerned about their cargo, whether it is being delivered safe and on-time. Hence, live streaming will prove highly useful herein meeting this task, as the webcam can be installed in the luggage space of the truck, and it’ll stream a video to the user’s smart-device. Besides, users will also be able to monitor the location of their cargo and see if everything is alright.

Meanwhile, live streaming can be beneficial for drivers as well, as they can use the tool to contact the dispatcher or workshop if breakage or accidents occur. Here, the driver will be able to stream a particular part of the track where breakage is located, and the specialist on the other side will consult him in real-time explaining how to fix the damages.

Healthcare

This is again one arena that can benefit tremendously from the live-streaming app, beginning from patient support in real-time, providing patients with analysis results & other indicators, holding training sessions for interns or execute a conference with your colleagues in different regions of the world. Live streaming technology enables the surgeons to conduct surgeries in guidance of offshore panel of doctors. Events can also be recorded & then sent to the users. For instance, a doctor can instruct the patient on medicine regime, and then this conversation can also be stored in the user profile, so they don’t forget to follow these important instructions.

FinTech

Building confidence & partnerships users have never been easier, with live streaming apps at your disposal. Be it any kind of FinTech firm, whether it’s insurance firm, securities trade or stock-trade, the Live streaming tool can be used by the businesses to show something new, to give a peek inside the company, to introduce a new product or service, or to consult regarding financial issues. This move will enhance audience engagement and brand awareness.

News & Media — Advancement in Mobile technologies and live streaming through social changed the way people consume and produce news. News & Media companies were early birds who adopted this revolutionary technology at early stage and today almost every news channel has its own live streaming system. With daily live streaming views now in millions, News & Media industry can better connect with people and get message across in a clear concise manner.

Education

Education industry already using live classes concept to stream activities and lessons from classroom, so that any participants who are not able to be in the classroom can still learn. Several education institutes across the globe using video streaming on commercial level to broadcast live lessons. Live streaming offers close-up demonstrations and highly visual material. Live streaming applications in education usually allow interactivity from the viewers, which establish more connected experience, with the addition of comments and live questions.

“Are you looking for ways to boost engagement? If your answer is in affirmative, then do give a thought to live video streaming solutions. After all, no better way to interact with your audience in real-time.”

How Live video streaming apps can help you in connecting with your user-base and boost engagement.

Share Live Events:

Your audience will feel more connected to your business when you share live events with them. The purpose here is not just to show the event, but enabling them to be a part of it. However, as you do so, keep few things in mind:

  • Create stories for them. After all, they’ll certainly be bored if they just see what’s happening at just one location. So, instead be your audience’s eyes & ears by walking around to show them the entire event.
  • Give attention to comments as well, and reply whenever possible. Why not ask the viewers themselves about what part of the event they are keen to see & whom they are eager to meet? Sure to bind the audience.
  • Product Releases, Mostly during events, information regarding new product releases and some important news is shared. So, make your audience a part of these unique moments.

Host Interviews:

Increase user engagement by offering personal ideas & opinions to an audience. Like you can conduct short live interviews with clients & employees. This way you can also show the human side of your company to your audience.

Keep in Mind:

  • During these sessions, your brand must not be promoted too much.
  • Offer fresh content to your audience while also keep the core aspect of your business a part of this video.
  • Acknowledge your audience & do reply to their comments
  • Probe viewers for any concerns, questions, suggestions, etc.
  • You can also let the audience ask questions & then pick the ones that interest you the most.

Make your audience feel a part:

Even though your audience can’t exactly see how you create your products/services. Still, via live video streaming solutions, why not show them what really goes in the making, starting from concept to product completion. Thus, the viewers will get a glimpse about what’s involved in the brand building.

Usually, users only get to see the final result, however, a step in between is a story of value and it is certain to increase their engagement with your brand.

For instance, a social media website company can give a glimpse of a video shoot, where the videos are created for the social media content.

Conduct Training with Live Streaming:

Users are most keen to learn more when they find the content interesting. So, don’t let this opportunity to become your audience’s go-to reference for a specific topic pass by. For instance, if yours is a beauty products brand, then you can make a video on your phone (maybe can use a tripod for the purpose) to demonstrate to your audience how a particular product, say a face massager has to be used.

No matter this technique may appear amateur and has an informal touch, but trust me, this kind of content attracts major engagement for the users. Viewers applaud this kind of stream because it is more genuine as compared to a scripted one.

Apart from demonstrating the step-by-step process, you can also use this stream to simply discuss a topic you are knowledgeable about and also entertain the queries of the viewers.

While doing so, ensure:

  • The training sessions should be ongoing, like schedule them daily or weekly.
  • Allow your viewers to ask questions & reply to their queries.

Give a shot to Q&A Sessions:

Stay ensured that users always like the idea of being allowed to express their concerns or areas of interest to the brand they are using. Hence, organization of a Q&A session will certainly boost engagement as the viewers will love the fact that you value their opinions.

Things to Keep in Mind:

  • Select a specific topic for Q&A as that work more than letting users ask random questions.
  • Mention user’s name who asked the question.
  • Entertain interesting questions that will provide value to the viewers.
  • Ignore comments from trolls/abusive users.

What kind of behaviours will drive User Engagement?

In order to succeed in the arena of Live Streaming videos, it is first important on your part to understand what behaviours will drive engagement.

  • Control: As discussed above, Live streaming will serve as a tool for your business that allows your users to interact & be a part of the show. Like the users may comment on the broadcast and by responding to them, the broadcaster can keep them attuned.
  • Stay exclusive: The live streaming video content is unique in which only the ones connected will be able to interact.
  • Offer recognition: Many people like being recognized and as the viewers of live streams are not anonymous, so the broadcaster should call the individual viewers by their names or the user ID.
  • Curiosity: As human beings, we are all curious creates and are keen to explore new things. And with Live streaming, you can offer content to users that they otherwise may not see.

Final Word:

Today a number of businesses have begun using live broadcast and the number will only grow in the near future. A report by Tubular states that between January to June in 2017, there was an increase of 200,000 + active users in Facebook’s real-time streaming activity, whereas the YouTube streaming increased by 80% in real-time.

Hence, it is clear that this trend is here to stay and it will only reap benefits to your business if you invest in live streaming technology. However to have strong live streaming strategy your must partner with an experienced video streaming solution provider company that can turn your idea in to reality.

How Live Video Streaming Can Benefit Different Business Verticals? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Publication date: 
08/10/2018 - 10:36
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