The Next Big Shift in Influencer Marketing:- There was a time when video marketing was restricted to companies with big budgets. The amount of money required to implement video marketing and live streaming used to drain marketing budgets like water. The situation has evolved significantly since then. Live video is available to users and businesses alike since the advent of social media platforms.
Growth of Live Streaming
Since 2009, YouTube has tested live streaming on its platform with the support of third-party technology. They developed and launched their own live streaming platform in 2012. After being initially available to select users with 10000+ subscribers, it is now available to everyone. Since then, many new platforms have begun offering live streaming on their platform.
- Periscope (owned by Twitter) was launched in March 2015
- In January 2017, Facebook Live was made available to the users after being launched for selected users in August 2016.
- Twitch, the video game streaming platform saw a 197% growth in their user base in 2017.
The rise in the popularity of live streaming can be attributed to the decline in TV viewership among people who are on social media and the unprecedented easy access to technology. The attention media companies are paying to live streaming makes it a force to be reckoned with.
How Live Streaming is Revolutionizing Marketing
Now more than ever, live streaming is available to all businesses across the globe and users are gravitating towards this format. Social media channels are taking huge strides to improve their live streaming services and making them marketing friendly. Here’s why live streaming will be a game changer in the future:
Access on Multiple Channels:- Earlier, YouTube used to be at the forefront of the live streaming space. Today, Instagram Live and Facebook Live offer neck to neck competition. Going live is possible at almost zero cost so it can easily fit into marketing budgets. There are many options for users and businesses to choose from when deciding to go live.
Cost-effective:- Live streaming is now offered by all major social media platforms like YouTube, Facebook, Instagram and Twitter. Today, both the software and hardware required for the task is minimal which reduces the cost of going live. Users can now stream directly from their computers and mobile phones at any time and from anywhere.
Also Read:- Influencer Marketing Trends in 2020
Impact of Live Streaming on Influencer Marketing
Live streaming has had a major impact on influencer marketing ever since its inception. Influencer marketing has reached a point where social media channels are populated with sponsored content involving influencers. In such a scenario, live streaming offers a fresh avenue to collaborate with influencers for a campaign.
Live streaming with popular influencers gives the audience a new way to engage with their favourite celebrities. It adds a sense of anticipation and excitement which increases engagement levels more than pre-recorded videos. Moreover, live streams add a layer of transparency to the campaign as viewers get a chance to engage with the brand and influencers in an open conversation.
There are many brands who have successfully used influencer live streams for excellent results in terms of brand awareness and engagement levels. Some of the stellar examples include:
Make-a-wish:- The Netherlands branch of Make-a-Wish collaborated with gaming vlogger Yarashy for a live telethon. In a 24-hour YouTube Live Video, the stream reached 6 million people and raised 10000 euros for the organization. This example is special unique it demonstrates how nonprofits can benefit from influencer live streaming.
Nestle Drumstick:- Nestle used an already trending topic #FirstDayOfSummer and featured Drumstick in their Periscope live streams throughout the day. They collaborated with influencers stream their favourite summer activities while enjoying a Drumstick. This campaign is a good example of how brands can tap multiple influencers to go live for a single campaign.
Embrace Live Streaming
Live streaming brings with itself an exciting space for all involved. Many brands are successfully using live streaming to promote their products and events. It is an engaging way for brands to reach their target audience before their competition. It is prudent that brands leverage this opportunity and establish themselves. Live streaming is the next big avenue in influencer marketing because it thrives on authenticity and creativity which are the pillars of influencer marketing.