How Live Streaming for Business Helps to Connect and Convert?

The acceleration of live streaming for business is not a mere trend, it is rather a profound new communication model for businesses and their audiences. Live video streaming has a 37% higher engagement rate than pre-recorded videos.

Despite the growth of TV being watched by the majority of Gen Xers and millennials, only 27% and 34% of them respectively watch videos daily compared to the other aging generations.

The supplementary statistical data give a comprehensive image of streaming on mobile devices representing 548 billion hours just in 2021, demonstrating the leading role these technological advancements have played.

The video streaming industry has experienced a stunning increase of 120% in live streaming from 2021 to 2022, after covid-19 pandemic, which reveals a change in the paradigm of education delivery.

Entrepreneurs these days should be well-informed about the growing popularity of live streaming channels and proficient in this change. Live streaming beyond the name is tactical and not otherwise. In this article, we will focus on how organizations can utilize a live-streaming platform to generate leads, boost sales, and also increase customer loyalty.

Take the journey with us towards the uncharted territories of live streaming capabilities and share vital information with the entrepreneurs that will help them to navigate this dynamic streaming ecosystem.

Why are Live Streaming Platforms so popular?

The appeal of live streaming explains why it has experienced tremendous growth as the reasons listed below. This mix of elements builds a powerful and gripping genre of media consumption that has a lasting appeal and reach to both national and international audiences.

Real-Time Interaction

Unlike pre-recorded content, live streaming enables the interaction between video creators and audience to occur immediately and both- ways.

This promotes a feeling of truthfulness and connection, when the viewers can have their questions answered, respond to the content, and engage in it at the same time.

Authenticity

With live streaming, audiences receive an unmediated and unrefined encounter that they readily relate to and connect with. Viewers love live content because it is raw and authentic, sometimes resulting in a higher level of belief in brands and creators.

Convenience and Accessibility

Live streaming for businesses has experienced immense growth lately because it takes advantage of the wide coverage of fast internet and mobile devices.

With viewers being able to tune in from anywhere, at any time, all they need is their smartphone, tablet, or computer to engage audiences with the content that is their favorite.

Diverse Content

Live streaming content is an inclusive category that covers topics ranging from game playing to entertainment, education, and business. By having a wide variety of content, it inevitably appeals to audiences with different preferences, tastes, and interests.

Community Building

The live streaming of events brings viewers together who have the same interests. Chat messages, polls, and question-and-answer sessions enhance interaction and make people feel together with each other.

Exclusive Content and Events

Brands and live streamers frequently exploit live video streaming services to offer unique content or allow seeing the behind-the-scenes of the event that contributes to the viewer’s desire to be the insider.

Algorithmic Favor

Most social media platforms have the rule to place live content on the top of the algorithm, thus it will get higher visibility and reach than the video shot before. This makes it possible for content creators to get a bigger audience faster and build their fan base up quicker.

Instant Gratification

Live broadcasting brings fast satisfaction to both the content providers and the viewers. Content makers can rapidly learn audience reactions and feedback altogether with viewers being provided with fresh and up-to-date content without having to wait.

Customer Engagement Metrics

Broadcasters usually have on-the-spot analytics of user activities through professional live-streaming platforms including, among others, viewer counts, comments, and shares. By an instant feedback loop, creators can adjust their content to match the taste of the audience and make changes accordingly.

Monetization Opportunities

Live streaming software comes with a multitude of monetization opportunities for content creators such as advertising, sponsorships, subscriptions, donations, and merchandise sales among others. Stream to multiple platforms and monetize your content effectively.

The significant revenue opportunity in this space has also motivated creators to make live streaming their key content strategy.

Benefits of Live Streaming for Business

Online video streaming offers a variety of advantages to businesses whose purpose is to communicate with the audience, increase their engagement, and achieve their marketing efforts.

Through the use of live streaming, businesses can break through and stay connected with their audience as well as achieve their business marketing objectives with more effectiveness. They are described below.

Real-Time Engagement

The interaction that comes with the Livestream platform enables businesses to connect with their audience in real time. This fosters a sense of immediacy and interactivity.

This intimate interaction between you and your customers can bring about a deeper connection, which can lead to brand loyalty.

Wider Reach

The online video streaming feature expands the reach of any business, because, the world viewers can tune in, even if they are not physically present, through an internet connection.

An elevated reach serves the purpose of attracting more customers as well as increasing the recognition of the brand on a worldwide scale.

Cost-Effective Marketing

Although it can be quite expensive, video streaming platforms are a cost-effective means for businesses to market their products or services when compared to traditional advertising.

With minimal equipment needs and production costs, businesses are capable of developing interesting content that their audience can relate to, even if it’s quite low-budget.

Authenticity and Transparency

A Live video streaming service provides a platform for businesses to display their genuineness and openness by giving a peek into their real working environment. This very transparency helps to develop customer confidence and separate the business from its competitors.

Instant Feedback and Insights

Social media platforms contain live-streaming features like chat and audience polls that help businesses quickly find out their audience preferences and insights. This immediate feedback is crucial for the development of products, services, and business marketing tools.

Enhanced Engagement and Brand Awareness

Engagement levels could be increased by streaming live, as viewers tend to be more involved in live broadcasts. Such involvement can help grow the firm’s brand awareness and visibility.

Ability to Showcase Products and Demonstrations

Streaming live is becoming a perfect place for enterprises to present products and services in actual operation. It doesn’t matter whether it’s the product launch, tutorial, or live demo, businesses can use live broadcasting to emphasize the characteristics that make their offerings unique.

Opportunities for Collaboration and Partnerships

The live stream service occurs through the collaboration of the business with influencers, industry leaders, and other brands. Through collaboration with other interested parties, organizations can also obtain access to new audiences and broaden their influence even more.

Evergreen Content

Although live streams are broadcast in real-time, they can also be used in creating evergreen content pieces to be used in the future.

They can even turn livestream videos into recorded videos to share, blog posts, social media posts, or email newsletters. Thus, making certain that their content remains relevant for a longer time.

Drive Sales and Conversions

In the end, live broadcasting can be a good tool to drive sales and conversions, when the products or services are presented vividly and emotionally. Whatever way it is happening, through some product demonstrations, special offers, or Q&A sessions, live streaming can motivate viewers to act and purchase something.

Live Streaming for Social Media Streaming Platform

Live streaming is now an important social media tool. Despite, other unique features of social media apps, Live streaming gives companies a multitude of ways to interact with their followers and customers in real time. This is a reflection of the most demanded platforms for broadcasting and well-known strategies for each.

Facebook Live

Facebook Live can be used to broadcast live video content directly onto a user’s Facebook profile or page, reaching out to the audience and also allowing interaction in real-time.

Facebook Live already has more than 2 billion monthly active users which gives lots of different potential audiences for the businesses and Facebook has this internal feature for audience targeting as well.

Content Strategies

Behind-the-Scenes Tours

Provide the viewers with an exclusive glimpse into your business’s activities or events, with a walk-through of the operations and showcasing your business.

Q&A Sessions

Instantaneously engage viewers through direct interaction in real-time to handle their queries and address their concerns to create a strong rapport and involvement.

Product Launches/Demonstrations

Involve a live demonstration or a launch of a new product/service and show off all the features. This will also excite and inform your audience.

Live Interviews

Organize live chats with industry professionals or influencers, providing expert opinions and advice to help customers build relationships with others.

Tutorials or “How-To” Content

Provide dynamic educational materials that support your audience to learn through a step-by-step process or acquire new skills through a hands-on approach.

Instagram Live

Instagram Live is a feature where influencers can do live video streaming and have their audience interact and engage with them in real-time.

Having a greater number than one billion active users monthly, Instagram Live is great for targeting the youth, who are a visually-oriented audience.

Content Strategies

Give your viewers a little behind-the-scenes glimpse into your business or creative work.

Interact with your audience by replying to them in real time.

Spotlight new products and services and engage the audience by allowing them to try them in real-time.

Collaborate with influencers or Instagram users for live interactive sessions.

Teach people or share valuable insights in real life and show them how to do something with the help of tutorials.

YouTube Live

With the YouTube Live platform, one can broadcast videos on their YouTube channel for the subscribers as well as attract new viewers.

The biggest advantage of the YouTube Live platform is that it allows businesses to reach the most dedicated target audience.

Content Strategies

Introduce your products or services by showing the viewer their features in an engaging way.

Give your audience full-fledged tutorials or educational materials that are on topics they usually get interested in.

Have interviews on live shows with industry experts or thought leaders to provide insightful information.

Take the audience to a hidden part of your business or a creative process that involves you and them.

Run a live event or webinar to increase the engagement of your audience and provide important information and entertainment.

TikTok Live

TikTok Live is a feature of TikTok that allows enterprise users to stream live videos to their fellow TikTok users. This feature is aimed at making the most of the platform’s currently highly engaged and rapidly booming user base.

With over 1 billion monthly active users, TikTok Live is the number-one platform to target the young-aged Gen Z market segments.

Content Strategies

Interact with your audience by answering their questions and by replying to comments in real time.

Provide an audience with the opportunity to witness previously inaccessible areas of your business or creative endeavors.

Give new product or service demonstrations to attract more customers.

Collaborate with other TikTok creators or influencers for joint live sessions on TikTok.

Let your audience get involved with live challenges, interactive games, or quizzes for more fun and thrill.

Using knowledge of the specific features of each platform, businesses can tune in their live-streaming content strategy to cater to this audience and target their business marketing strategy.

Live Video Streaming Going beyond Media

Live broadcasting transcends the sphere of social media, enabling businesses to utilize this universal instrument for multi-fold objectives.

Webinars and Workshops

Live streaming is used for webinars and workshops which are interactive, knowledge transfer, and lead prospect-building.

Companies can provide audiences with valuable and reliable content at the right time, generating engagement and increasing their credibility as industry leaders.

Virtual Events

Companies can use live streaming to communicate various events, including conferences, trade shows, and company get-togethers to the participants in remote locations.

Through live streaming, businesses can thus reach more people and facilitate more meaningful communication even with the hindrance of geographical barriers.

Customer Support and Training

In addition to being used for real-time customer support, live streaming has also been used to provide training sessions.

From resolving technical difficulties to welcoming new customers, enterprises can utilize live video as a prompt response channel to provide a hassle-free experience.

Company-wide Announcements

Through live streaming, organizations can circumvent the issue of people in remote teams missing company-wide announcements and news updates, thanks to personalized communication.

The involvement of live video is likely to bring in a more personal feel to the communications thus augmenting the employees’ engagement and morale.

Educational Content

Livestreaming will be used as a venue to conduct live classes, workshops, and training. Companies can use this interactive real-time session to answer their audience questions and foster an atmosphere of teamwork and collaboration.

Livestream Shopping

Businesses may team up with influencers or present the items in a virtual shopping experience regarded as livestream shopping.

Live streaming offers businesses the chance to interact in real-time by responding to customers’ questions, presenting features of products, and conducting sales promotions through inspiring live streaming.

Generally, business beyond social media live streaming will provide firms with different opportunities to connect with their audience and create engagement and success in business. Businesses can utilize live streaming to intensify their operations and improve their customers’ experience.

Dedicated Streaming Platform

Live streaming platforms go beyond social networks to host particular streaming systems with specialized features and functions designed for professional life-casting requirements.

While social media platforms have live streaming features as part of their broader range of services, live streaming solely dedicated platforms are only committed to delivering the best possible live streaming experience to businesses, organizations, and content creators.

Features of a dedicated streaming platform

• Provide high-definition (HD) or 4K streaming to offer powerful video quality.
• Ensure both RTMP (Real-Time Messaging Protocol) and HLS (HTTP Live Streaming) are supported to play on different devices.
• Stream live broadcasts in the cloud for storage and later use/distribution on-demand.
• Dig deeper into analytics to know the behavior and the demographics of the viewers.
• Make money from the live streams by introducing pay-per-view, subscriptions, or advertising opportunities.
• Add interaction of audience with live chat, polls, and Q&A sessions to the broadcasts.

Target Audience

Evaluate the demography and preferences of your target audience when selecting a platform. Some platforms focus on a broader audience and others are designed to cater to a specific audience, such as gaming, education, or sports.

Scalability

Make sure your platform can make adjustments and be able to handle the increased traffic and demand when your audience grows. In search of features like CDN (Content Delivery Network) and powerful infrastructure able to operate on massive scale live events and continuous streaming load.

Budget

Study the tariff plans on different sites and make an option that suits your budget and needs. Factors like features included in different plans, extra charges for added services, and any long-term commitment or contract should be something to consider.

By making an informed decision based on these factors and selecting the right ‘live streaming’ platform according to their requirements, businesses can leverage the power of live streaming to engage their audience, deliver gripping content, and attain their strategic goals successfully.

Examples of Well-known Streaming Platforms

Dacast

Dacast specializes in delivering high-class streaming services with cloud recording and advanced analytics which can be applied to different market areas; thus, broadcasts of live events can be of top-class quality while audience insights are rich and comprehensive.

IBM Cloud Video Streaming

This IBM video streaming high-end solution supports multiple bitrates streaming for the best video quality transmission and secured content delivery, which are ideal for businesses that need more advanced video needs.

Brightcove

Brightcove distinguishes itself with adaptive bitrate streaming, real-time analytics, and seamless integration features so enterprises can provide personalized and engaging on-demand video content.

Vimeo Livestream

Vimeo Livestream is an uncomplicated platform that is known for its well-ordered nature, adjustable features, and monetization tools, so it is an excellent choice for companies seeking a user-friendly live streaming solution.

Twitch (for gaming content)

Twitch offers commercial ones for players, including the live chat and channel subscription which helped in the creation of an immersive experience for enthusiastic gamers. Platforms like Twitch are emerging markets due to their popularity.

LinkedIn Live (for professional audiences)

Through the LinkedIn platform, LinkedIn Live broadcasts messages targeted to professional networks in the field while providing an exclusive way for industry-related message transmission.

Grow Your Existing Business by Implementing Live Streaming

You can use live streaming to make your current business stronger from different angles.

E-commerce

Showcase your products in live demonstrations, offer unique coupons, and host live shopping events to generate engagement and sales.

Education & Training

Involve students with live courses, workshops, and demonstrations, which will facilitate real-time interaction and ultimately create an atmosphere of community.

Entertainment

Generate a loyal audience through live concerts, gaming streams, or showcases that may be appealing to brands to sponsor and expand your reach.

Fitness & Wellness

Centre your offerings on your local clientele, yet go global with live workout classes or online consultations for those who need a personalized approach and motivation.

Customer Support

Ensure customer satisfaction by offering live troubleshooting and technical assistance, this way helping customers to find solutions immediately and reaffirming the brand.

Professional Services

Extend your client base by offering live consultations, coaching sessions, or Q&A ones with the main purpose of showing expertise and establishing trust relying on live interactions.

Media & Publishing

Bring dynamism into your content by having live interviews, discussions, or book readings, which will therefore construct engagement with the target audience and foster intimacy.

Travel & Hospitality

Moreover, bring your offerings to prospective customers through virtual tours, memorable experiences, or events, and encourage them to come back for more with adequately immersive previews.

Searching out the Best Development Team for Your Live Streaming App

There are many things to consider when choosing the best social media app development team for your live-streaming application but consider the following key aspects.

Expertise in Live Streaming Technologies

The team should have had a good knowledge of the basic live streaming protocols such as RTMP, WebRTC, and HLS(HTTP Live Streaming), allowing a smooth streaming experience on multiple streaming devices and platforms.

Cloud Infrastructure Management

Require expertise in cloud platforms including AWS, Google Cloud Platform, and Azure since these are the backbone of scalability, reliability, and efficient content delivery.

Security and Data Protection

Prefer developers who prioritize strong security techniques to protect user data and content so that issues such as unauthorized access, data breaches, and data privacy vulnerabilities are minimized.

Development Experience

Assess the team’s experience building quality live streaming apps showcased in their portfolio, reference, and successful projects.

Communication and Collaboration

Decide on a team with a sure information flow and a history of teamwork, showing consistency, response, and unity during the creation period.

Following the above-given specifications, Appkodes, a versatile social media app development company, is undoubtedly the optimal solution for social media app development.

Backed by proficiency in, live-streaming technologies, cloud-native application development, security, and data protection, Appkodes is proof of the implementation of an app that answers clients’ requirements.

On the other hand, we provide the communication and collaboration through which the development process is done smoothly and successfully. What else does an ideal partner to create your live streaming app project need?

Conclusion

Live streaming, on the other hand, has truly revolutionized the way business happens on social media, finding a unique way to engage live audiences and bring growth. Ranging from product demonstrations, customer service feedback, hosting events, and extending the reach, this is just the tip of the iceberg.

Along with the ever-changing nature of video marketing, getting the most out of live streaming is becoming ever so pivotal to entrepreneurs who want to stay competitive.

Through the use of this versatile form and the help of expert online streaming platforms like Dacast, IBM Video Streaming, and others, it has become possible for business organizations to build relationships with their audience, improve brand visibility and at the same time find new doors for success in the live streaming niche.