There’s no better time than the present to explore the many opportunities and rich benefits of going live with your video content. In the last year, the Internet has seen an encouraging surge in traffic.
More and more creators turned to various platforms like YouTube, Twitch, Facebook Live, Instagram Live and countless others. Creators learned, in just a short period of time, that when it comes to boosting and marketing their creative content, there’s no other way more practical, affordable and realistic to grow their audiences or brands than going live.
The size of the global streaming market is currently valued at over 42 billion worldwide. The market increased its demand for online streaming and entertainment services since 2020. Video streaming services alone have seen an increase in viewership by more than 10 percent. That means, despite the uncertainty of the times, there’s no uncertainty of the projected growth of the mega potential streaming video will have in the future.
Here are the top five reasons why you should seriously consider live streaming your content:
1. More people prefer live video
It takes time to read through posts and blogs. No matter the word count, ads and blogs are just not as engaging to people as watching a video. 67% of audiences who watched a live stream event, such as a concert, or live streams of brands and services, made purchases.
Audiences enjoy indulging in quality made videos with likable hosts and broadcasters. Unlike edited or scripted videos, live video allows brands, businesses, newscasters, event hosts, worship services and personalities to be flawed and humanized.
2. Real-time engagement with subs and fans
Unlike broadcasted or pre-recorded video, live video broadcasts to a live audience. This allows you to give shout outs to viewers, and answer questions live. It also allows people to see your fallible, human side that they can instantly relate to.
As many live streamers have discovered, audience engagement in real-time enhances audience retention. Streaming through platforms such as Facebook Live, YouTube and Instagram Live puts you in the same space as your viewers. People have active conversations, build trust and create direct communication with comments and discussions that are always teeming with life and energy.
3. It builds your audience and community
Live video allows you to share content for the sole purpose of creating experiences or advertising that wouldn’t work anywhere else. It works kind of like TV, except that your audience has the luxury and convenience of a personal connection with you.
Stats across the board show that 80 percent of viewers would rather watch a live video than reading ads. It also shows that the average time of watching a live video is greater than that of VOD (Video On Demand). These stats prove that people are more likely to watch live stream videos over traditional VOD or broadcasts.
That means the audience is out there, and, whatever your brand or service or event, you can upsurge your subscriber base and grow your community with unlimited potential. Remember, viewers are always likely to share your content with friends, colleagues, websites and other social media platforms throughout the Internet.
4. It’s inexpensive
Livestreaming costs little to nothing to get started. In some cases, all it takes is a camera phone or a webcam and creating an account with a social media platform that’s ideal for your content and brand.
It takes less time to produce a livestream video than it takes to write a 500-word blog post. Whereas a worded blog can take anywhere from two to three hours to write, a five-minute video can only take five minutes to produce! With livestreaming, you skip all of the software and hardware configurations for hosting and allow access to any viewer with just one click. Less expensive means more revenue and that’s a huge perk with live streaming.
5. You can monetize your content
The final and best reason you should consider livestreaming now is monetization. Monetizing video content is the biggest draw to livestreaming.
Even though most social media platforms are free, some, like YouTube and Facebook, have revenue sharing policies. But don’t let this dissuade you from the unlimited potential of profiting from your video content. Livestreaming of content is being called by many marketers a “gold rush” of opportunities.
Monetizing is easy and it generates revenue. The way it works is through paid subscriptions, PPV Method (Pay-Per-View) by charging entry fees, pop up ads over your video, sponsorships by getting a brand to pay you for promoting their product during your live stream broadcast or simply getting support through your audience through donations.
As you can see, going live offers tons of opportunities and advantages to your business, brand, product or service. It can be used as a way to drive traffic to your website, grow your audience and make money. It’s a popular and rapidly developing way to establish your brand and make a name for yourself.
There is no better time than the present to join in on the fun and the potential. So don’t be shy. Get out there and make it happen.