3 reasons why companies should rely on live streaming
In the video age, in which TV and video streaming services have the highest user numbers according to the BVDW, companies should exploit all the medium’s possibilities. Live streaming not only increases reach – it also demonstrates transparency, customer proximity and a willingness to innovate.
Every day we use streaming services like Netflix, YouTube & Co., the TV program comes into the house via IP-TV and when we surf the net, videos are omnipresent on social media platforms – and: they cast a magical spell over us. Companies are taking advantage of the fact that moving image content attracts the attention of users and customers and are already busy producing image videos, commercials or organizing internal qualification programs as webinars. But in addition to on-demand video content, live videos also bring many benefits. Here are three reasons why and with which content companies should approach their customers by means of immediate real-time transmission of videos:
1. Live streaming increases transparency and reach.
Transparency builds trust, because it always signals: we have nothing to hide. In large companies and institutions, however, there are processes that remain closed to consumers because they are denied access. Where previously only press releases or short video snippets were available in the daily news, with a live stream the entire event can be transparently traced. This was the case, for example, with the election of the new CDU party leader – which could now suddenly be followed live by anyone via video streaming.
Fast food giant McDonalds, which is often under criticism, provided insights into the company in a mammoth 12-hour project. In the moderated „Live@McDonald’s“ program, myths and rumors were to be dispelled and viewers were given a tour of a branch’s kitchen. Additional offers on the company’s website, such as an ingredient check, were promoted in the video, which was broadcast via Facebook and in fast-food restaurants. Clever: by doing so, McDonalds not only achieved the transparency aspect, but also gained reach!
Content that can be provided via live stream can, of course, also be found in the field of corporate communications. By holding a live press conference – such as the annual general meeting or annual press conferences – a company can conveniently ensure that all relevant media representatives and stakeholders can participate – no matter where they happen to be. Lufthansa Technik AG, the technical service provider of the major corporation Deutsche Lufthansa AG, uses live streaming for efficient internal communication with its employees, who are spread across 50 locations worldwide.
2. Customer acquisition and retention through live streaming
It is not only the increased credibility created by transparency that influences the company’s image – innovative communication channels paint the picture of a tech-savvy, digital company for customers and partners. This is particularly advantageous when it comes to reaching a young target group. It is therefore particularly worthwhile, for example, to play live streaming content on the social media platforms where the intended target groups spend time anyway. Here, companies can convince and win new customers.
Dialog is then an important tool for customer loyalty – which can also be realized and used easily and efficiently with live streams. During the video, viewers can provide feedback via comments, which can then serve as the basis for a discussion forum. In addition, call-to-actions can also be played out during the live stream; for example, data can be requested for participation in a competition or subscription to a newsletter.
At an event like the About You Awards, where the social media stars were crowned, live streaming was almost a must for precisely these reasons. Fans were even able to follow the red carpet event live from the Bavaria Film Studios.
3. Earning money with live streaming
Live streams entail many opportunities for use, with which money can still be earned even after the first live broadcast. This means that live streaming content not only expands the participant base in the short term, but can also be monetized afterwards as VoD offerings. The VDZ Tech Summit videos – once played as a live stream – are now available as individual videos in a pay-per-view variant, for example.
Primary media companies such as TV broadcasters are also extending their offerings to the web – in addition to the media library, where shows are made available via VoD, many broadcasters show their current programming as a live stream on the Internet. The teleshopping channel Juwelo.tv multiplies this even further by allowing viewers to participate in live shopping auctions on its website and via app.
Conclusion: Live streaming is not only a (technically) simple way to reach as many customers and partners as possible, it also offers the opportunity for interaction. Because companies can present themselves transparently and innovatively, live streams increase their credibility and polish up the company image. The clever recycling of content additionally flushes money into the coffers.