The Influence of Live Streaming on Future Marketing

The popularity of live streaming has exploded in recent years.

According to the Pew Research Center, 61 percent of young adults in the United States prefer to watch TV via streaming video. This report points to video marketing’s future potential.

Marketing sectors need to update their business and management skills to compete in today’s highly competitive and expanding marketing industry. For example, there is digitalspotlight.com which can give assistance in developing and implementing online marketing strategies.

Video streaming may improve a company’s efficiency. For example, the agricultural industry may benefit from using drones to survey land and monitor crops. 

Live streaming has become so effective that many entertainment industries use video streaming for marketing their products.

Below are some of the most constructive ways live streaming may impact the future of digital marketing.

 

Online user experience

User experience (UX) provides relevant and meaningful experiences to users. This process involves features including usability and function.

Relevant issues include whether streaming UX changes are necessary for groups such as older customers. While streaming video initially attracted younger audiences, it is now increasing in popularity among older consumers.

The Marketing & Advertising Global Network (MAGNET) reported that 46 percent of the consumer population subscribes to two or more Over the Top (OTT) services. OTT refers to streaming services providing content via the internet.

The trend above indicates that the pay-TV subscription may decline in the United States.

One way to examine live streaming is the evolution of live television. Live TV became popular due to its ability to provide viewers with accessible, informative, and updated content.

The Pew Research Center reported that cable and satellite TV subscriptions have decreased significantly since 2015.

Live-streaming video can provide a similar UX to consumers as cord-cutting rates increase.

Digital marketers can weave video streaming into their content marketing to maximize the full potential of the continuous transmission of video.

 

Content vs. experience

Is the expression “content is king” accurate? It is undeniable that quality video content is crucial for marketing success.   

However, online companies should not overlook the significance of UX.

For instance, how accessible is streamed content? Do current and potential customers have a pleasurable viewing experience?   

Generally, a correlation may exist between the overall value of live-streamed video and the perceived value of content and UX.

Hence, digital marketing must provide companies’ target market with a positive experience watching videos.

 

Five benefits of real-time analytics

Real-time streaming video analytics allow digital marketers to gauge their live streams’ success as they transpire.

Here are some potential benefits of real-time analytics of live-streamed marketing content:

 

1. Increases business agility

According to the Agile Business Consortium, a company’s agility involves how quickly the company can adapt to market changes, creating working solutions.

Business agility differs from fast decision-making since it also involves your company’s tactical and strategic business goals.

Making quick decisions can be advantageous. However, it may not necessarily improve your company’s marketing through video.

 

2. Faster and better decisions

Real-time analytics provide feedback about the live-streamed video, helping your company make faster and better decisions about your online business.

For instance, as your pace of business increases through streamed video, your business will need to make faster decisions. Real-time analytics can help!

 

3. Act on short-term industry changes

Your online company may be in an industry that experiences rapid market fluctuations. Real-time analytics can provide valuable data to help your business thrive in highly-competitive industries.

For example, companies must be aware of rapid changes in customer trends and market demand. Such knowledge can help your business respond to these changes.

 

4. Detect and fix operational issues quickly

Real-time data on video feeds can help improve business operations. Such feedback may provide benefits like determining the effectiveness of particular streamed content.

 

5. Improve customer service

How important is customer service? Consider that many consumers buy products or services from a company simply due to their reputation for good customer service.

Immediate feedback from transmitted videos can help improve customer service. Your company can receive valuable insights into your customers’ needs, preferences, and pain points.

You can then address such issues more effectively and efficiently.

 

Personalize UX for online marketing

Online retailers can use real-time data from video feeds to provide new and better customer experiences.

For example, web-based businesses can use customer feedback from streamed content to customize the company website or online advertising. The changes can be as fundamental as color schemes.    

 

Customer behavior

A 2021 study published in Frontiers in Psychology examined the effects of live streaming features on customers’ purchase decisions in international e-commerce.

The researchers showed that live streaming and customers’ purchase decisions were consistent with previous studies on domestic e-commerce.

Moreover, the researchers hypothesized that video streams could subtly affect customers’ perceptions, increasing individuals’ overall perceived value.

Meanwhile, customers’ overall perceived uncertainty can negatively affect their purchase intention.

The study’s results suggest the potential of video streaming to increase or decrease an individual’s intention to purchase online goods or services.

 

Wrap up

The three factors mentioned above may impact digital marketing’s development through streaming video.

The increasing popularity of live-streaming apps like Facebook Live and YouTube Live highlight the potential of continuously-transmitted video to shape online marketing. It is not just today’s video – it’s the future!