Subscribe for Ideas

4 ways your business stands to benefit from live-streaming video

When was the last time your business did a live-stream? Be honest…

If you haven’t answered already, then you might be on the fast track towards a dead-end. I get it — not everyone is a natural star on camera. Don’t let a little insecurity stop you from utilizing one of the hottest (and most effective) tools to connect with your audience though.

In these unique times, live-streaming isn’t just recommended, it’s becoming essential for businesses to survive. Once you work up to courage to step into the limelight, you’ll quickly see what the buzz is all about.

You’ll Build Trust With Prospective Buyers

You can buy a lot of things in this world, but trust isn’t one of them. It takes a special mix of time and actions to cultivate correctly. Even then, it can be a bit difficult with a digital curtain pulled between you and your potential buyers.

Technology can’t magically teleport you into a buyer’s living room quite yet, but live-streaming is the next best thing. Adding a video engagement platform to your business plans gives it a boost unlike anything else.

When your followers see you smile, laugh and even stumble over the occasional word or two — it means more than you might think. These interactions show your brand is run by actual people, not so different from your audience themselves — crazy right?

Within a few minutes, your brand perception can go from all business to something warmer and more relatable with live-streaming. Once you build that crucial trust, then you are well on your way to cementing a real connection with your audience.

You’ll Bridge the Gap Between Physical and Digital Worlds

Once upon a time, the physical and digital worlds were quite distant, the former being light-years ahead in terms of impact and importance. Now, they’re more like next-door neighbors, and these days are practically sharing a roof with one another.

Making sure your story flows between the physical and digital brand worlds widens your potential base. The digital world has more eyes, and they are out there looking rain or shine. This increased traffic translates to more revenue once you monetize.

A recent conversation with Vlad Rigenco, founder and CEO of Dood Livestream, helped me understand why bridging this gap is so important. He explained how important it is to own both physical and digital sides of a business, and why having just one or the other just isn’t an option anymore.

Rigenco shared the following: “Businesses that use live-streaming hedge their bets a bit. By having an online presentation of your brand, you increase your accessibility and open another revenue stream once you monetize. Even if you never originally planned to expand to online, some niches like live entertainment have found it crucial in recent times. Your physical store’s traffic might ebb and flow beyond your control, but digital doors never shut. If you are playing smart these days, then you need to have a hand in both the online and physical worlds.”

By bridging this gap through live-streaming sessions, you get more use out of your physical space. You also vastly expand your potential reach by tapping into the digital. When you get a chance to have your cake and eat it like this, you might as well dig in.

You’ll Create an Atmosphere of Real-Time Brand Engagement

One-sided talks between businesses and consumers are on their way out these days. If you lack an outlet for customer interaction, even the best-designed website can feel stale, distant and eerily like a lecture.

Live-streaming is the perfect way to shake things up and deepen engagement. By hosting a real- time conversation you can answer specific questions, share background info, and get to have a little fun with your audience.

When I host live-streaming sessions with my audience, they leave understanding my brand better, and I learn what’s on their mind these days.

This information is as good as gold, and there’s not another medium out there which allows this kind of back and forth to occur so naturally. People crave personalities, interesting stories, and a peek behind the scenes. Live-streaming checks all these boxes and then some.

Believe It or Not, You’ll Reduce a Number of Unforeseen Cost

For all the folks out there concerned about the bottom line you’ll be happy to hear live-streaming will ultimately help it as well. When you take into account all the areas in which it can be implemented, live-streaming is a highly efficient way to cut costs.

Training programs that once took time to coordinate and space to host now only require a stable internet connection. The same information shared, but without the headache of scheduling conflicts or unnecessary commutes.

With product demonstrations and event-hosting the same holds true, but perhaps with even more benefits. Unlike brick-and-mortar spaces, there’s no limit to how many people you can pack into a digital showroom. With events like new product demonstrations, high-value customers who live hours or days away can still be front and center to see what you have to offer.

Live-streaming saves businesses valuable financial resources and time. With those freed up for more pressing concerns, you have more options and room to maneuver.

Commit to a digital strategy now that incorporates live-streaming video, and enjoy having the inside edge on any any comepslow-to-adapt competition. As with any new platform, there’s a learning curve. But once you blast past that, you’ll find yourself with a unique tool essential for any 21st-century business. When you look at the whole picture, you’ll see live-streaming is poised to skyrocket across it for years to come.

 

This article was written by Pia Silva from Forbes and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to legal@industrydive.com.