Today, broadcasting of live video to audiences over the internet network has disrupted the TV and entertainment industry. As the new- age video-on-demand and video streaming platforms such as Netflix or Amazon are beating their competitors and completely replacing the old craze for Televisions, the actual content consumption by the users have taken completely a different turn, i.e. shifting from traditional TV mediums to OTT services providers.
In order to squeeze out the utmost potential of this transition, businesses are moving towards live streaming solutions to match the growing demands of end-users and increase their organisational value. Both the OTT and media firms are, no doubt, providing a mutual benefit and giving a new shape altogether to the TV & Video industry.
In getting to know the scope for live streaming, let us walk through some of the benefits that have been known to be the key reasons for replacing the old TV & media industry-
For a long time, many organizations have looked down upon the use of live video streaming platforms because of their cheap quality videos. Nevertheless, the mobile telecommunication industry has gone beyond their capacities to prove their worth in terms of improvising live streaming technology. This has compelled the vloggers and content creators to produce top-class quality videos. Some social media sites such as Twitter have taken care of this factor by increasing security, speed, and limits to assure the live video sessions are unbeatable in terms of quality. This transition has forced the firms to bring in the use of live streaming videos as a crucial promotion medium. Nowadays, some top-notch companies use live streaming videos to connect with audiences globally.
Currently, there are tons of free video live streaming services. Nevertheless, these free services usually have spam ads and pop-ups that irritate viewers. On the other hand, some professional streaming services offer quite affordable plans that are customized to suit the business needs.
Improved scope for customer interaction
One of the best points which make this industry a booming one, is that the viewers can immediately communicate with the influencer. Businesses can ask their audiences to engage live and have an interactive session.
This feature of live interaction gives the feeling of closeness and feeling of connection between the company and their viewers.
Not like many other interactions with your user base, this can be continuous live streaming as long and as private you want can happen. The restrictions, if any, is there, that will only be if you impose on yourself. This proves it the most amazing opportunity of doing marketing worth your time and money.
Embracing video engagement by customer
Availability of the internet has shot up the content and video streaming knowledge to the users. Wider options are available to them now. Almost every customer is loving the idea of getting connected directly with the company from where they buy products and services. Dynamic businesses have this medium as a boon to their organizational development.
Customer is the king
Undoubtedly, there is always in terms of services and support to the customers, that the company can keep a track of its customer success. Using the live streaming services means someone is always available to deliver support immediately. A trustworthy live streaming service always gives you an upper edge in handling the customer queries on the spot without making the customer wait.
Amazing platform to capture unique and engaging content
It is always a delight in knowing that the content is a surprise and can be very exciting to know that we know nothing about what’s next. A brand can get its promotion done in exotic locations, shoot a live event, promote a new product or give a short tour to one’s office.
Audiences love the idea of unpredictable and surprising live videos. This gives them the urge to guess and think more on the company’s next live castings and keeps them engaged for a longer time. Where the content is king, Organizations can take the full benefit of tapping the new customers whom they missed when they used blogging and scripted videos to build their customer base and brand image.
Instant streaming with high quality content
Top businesses make sure their presence is always instant and surprising. They do maximum promotions through liking others’ stories, tweets, podcasts, news stories, product release announcements and other social events. For e.g. if a new product must be launched, quick and will help them to engage the customers at maximum.
Improved Brand exposure
Live streaming does not only showcase your brand image to potential customers but also educate them about your brand and its deliverables. This, in turn, helps the brands to yield amazing opportunities. Not to mention, the new brands will be able to take the earliest opportunities of this platform as they will do a proper research and learn from the established brands and their pitfalls. This way they can tap the market in a better and innovative way.
It has always been a desire to see and have more than what we have. Same with customers. The competition for best content is so neck-to-neck that customers are always looking for something different in every brand and how they can offer the richest content. The urge to offer more value to the customers has forced brands to adopt the live streaming platform services.
Earlier, if the videos were to be added to the website, the webmaster had to add the links of the videos to his websites and then the visitors needed to download the file fully before they could watch it. Now with the dawn of live video streaming, the content immediately starts to play the moment the file starts to download. This also allowed the viewers to rewind and forward the video.
Excellent way to build customer loyalty
The greatest advantage of live video streaming is that it creates a trust with your membership and keeps your viewers loyal. The reason being you getting connected with the audience without any filters and edits, gives scope to customers to trust your brand channel and with authentic customer interaction. This greatly helps the businesses of all levels to create a loyal customer base and the ability to maintain higher retention rates.
ROI Analytics monitoring
To be able to track one’s performance, we need numbers and the graphs to show us the performance. Similarly, the organizations need to know their returns on investment for the various marketing initiatives they invested in. There is a need for analytics and monitoring dashboards that track these metrics. Along with many video live streaming services, there are various options of tracking these metrics like numbers viewed, engagement rate, and number of people shared and subscribed etc.
This analytics data helps you to identify your real customer base and gives you an idea of future strategies that need to be implemented in order to improve the content experience and business revenue.