10 Reasons To Use Livestream For Your Business
Updated: Oct 10, 2018
Technology has revolutionized the way we communicate and even do business nowadays. Just think, in the year 1927 we saw the invention of the first television and today, years down the line, it is possible to watch a live event happening in a far distant place.
We live in the age where you can view live content from your mobile phone, tablet, PC and even your smart watch!
Livestreaming is convenient and more accessible than ever before for businesses to expand their reach. Let’s get right to it! If you haven’t already found the magic live streaming can have on your business, let us help you see through the clutter.
Here’s 10 reasons why you should use live stream for your business:
1. Reducing Corporate Travel Costs
Corporate travel costs can stack up really quickly. Airplane costs, hotel, food can easily cut into profit margins. Livestreaming digital content for your remote staff can bring down training costs while getting your team the information they need. Imagine being able to get your team trained faster, in more remote places around the world. How much would that save your bottom line?
2. Expanding Market Reach, Increases Profit
The seminar/workshop industry is an emerging area that will allow you to exponentially expand your reach. Traditionally events were capped at the maximum amount of seating available at the event location. Over selling tickets could lead to seat shortage, and even Fire Marshall woes on event today. Who wants those kinds of problems?
Event space rental is not cheap either. Hotel conference rooms easily run into the thousands depending on room size and hotel brand. See our other post about average hotel costs and return on rental investment. If your event budget cannot accommodate your expected audience, enter LIVESTREAM.
One of our recent clients was able to net an additional $100k in profit, from livestreaming their event! Livestream allowed them to expand their event attendance and increase ticket sales 100x*. We created a fully branded interactive livestream experience and handled all the secure online ticket sales for our client’s livestream portal.
“This is something we never thought was possible, after our last event, livestream changes the way we do business.”
At No 2nd Takes we can provide complete end-to-end solutions to allow your event to inspire, educate as well increase your bottom line.
3. Builds Brand Trust
Trust is very hard to fabricate and usually lives in-between brand principles such as good product and great service. Livesteam is a tool that can help your business build trust with its customers. In one of his recent webinars, Randall Tobein, president of Rocket Social Media, explains that live streaming is a “trust content” that allows their brand to provide face-to-face quality time with their customers and their content.
“Having another touch point with our customers brings us closer in our relationship. Livestream is a gap builder between two interested parties in separate parts of the world. Spending a few minutes (or hours) with your audience helps to build trust brand confidence.”
4. Pulse Of Your Business
The opposite of trust is fear, and Livestream allows Tobein’s audience to address what is commonly known as “FOMO” or Fear Of Missing Out. (add a summary of the quote below in your own words)
“Being able to engage with our audience live, watch their immediate reactions to product launches, news and get immediate feedback is gold to our marketing team and engineers. If we can get ahead of unforeseen pain points and problems by having a presence at GO time, we help to shape the narrative of our product and can also begin working on any unforeseen blindspot. Traditionally this would take us a few weeks, to get feedback and make adjustments, and we are usually responding to the market from a defensive position. We don’t have to miss out on integral feedback. This puts us in the driver’s seat, ahead, where we like to operate.”
5. Convince King
Nothing replaces the value of a physical event but studies show that after viewing branded content, and other livestreams, customers are more likely to want to attend the next physical event. We survey our customers whenever we have events. From our last three seminars, the top three contributing factors that convinced our customers to attend the physical event was (1) value of the educational material (2) the branded online content and (3) watching previous livesteams.
Livestream has an incredible convincing power, as it gives your audience an expectation and sneak peek into what to expect at a physical event. Brand marketers can leverage this newfound knowledge and activate audiences through livestream strategies.
6. Helps Lead Generation
Lead generation is an integral part of any business. While building a livestream platform, you have the ability to create credentialed login and survey your customers for information. After all, if they enjoyed the livestream, wouldn’t it be safe to say they may be interested in more of what they enjoyed? We don’t know that answer, but you should ask them! The great news is now not only can you track who has viewed your live event, but by creating an audience portal, you can reach out to the list of attendees to follow up on their event experience. This attendee list can be used for future mail blasts, cross marketing products and services, and building a network of potential returning customers. When your event is completed, it may be a good habit to follow up on your customer acquisition cost and compare this against your livestream cost.
7. Redundancy, Redundancy, Redundancy
Live streaming provides your business with the opportunity to reach a larger audience at an affordable price point. That is amazing. Not only can we cast your event worldwide, but we also provide archival options. You can archive any of your live streams for future referencing or review for your customers; essential creating a Video on Demand library for your customers. Your livestream library can be free of cost to your customers, or we can setup a credit card payment portal, for a pay-per-view experience. Whether you want to offer a priced package for archival video downloads or unlimited access for a monthly customer fee, we have a solution that will work for you. We will customize your audience’s experience to fit your brand goals.
8. Cable Cutters
Video content has risen to the top of mobile content and preferred digital platforms. The demand for online content is growing at a very high rate. The impact of this shift in online content has even cause industry players to change some of their strategies. After learning that over 55% of Google searches were done from a mobile device; Google recently decided to change it’s SEO analytical search results to prioritize mobile content over traditional websites.
Not only has there been an increase in video content but also how customers are viewing this content is shifting drastically. There will be over 2 million cord cutters by 2019 in the United States alone (homes without paid TV services). Customers will be turning to online video content for their news, education and entertainment. Ask yourself, with so many people turning to online content as their main source of information, can you really afford to not be online?
9. Stand Out
Let’s face it. Each and everyone one of us are unique. Our fingerprints, DNA, and personalities are great reminders of this truth. Your businesses should be a reflection of you. Make a bold statement. Go live! We’ll be short here as this is pretty much self-explanatory. Live streaming content will differentiate you from your competitors. Don’t compete; stand out!
You work hard. Your audience works hard (presumably). Respect their time and yours. Get your content out and get it out now! Don’t put off your great idea or your great product or service for the end of the decade when all your ducks are in a row. We live in a microwave society, attention spans are shortening, people jump from trend to trend, and idea to idea quicker than ever before. Your audience is bombarded everyday by their own priorities, messaging and ads. Sometimes ads from your competitors. Why should you stand on the sideline and wait? Get outside and play with your neighbors. Be seen, be heard, be counted.
There is no denying the fact that live streaming is a game-changer. No longer will you be able to say you never had a chance to build and contribute to something big. We can help you create any size event to fit your budget, and maximize your impact.
The question is will you take advantage of emerging technology and our expertise to impact lives across the world?
Make the call.