Live streams are gaining relevance when it comes to marketing and sales. They have lots of potential: not only can brand awareness be boosted, but sales can too. Discover here which options are available for live stream B2B marketing.
The booming format of live streaming: nothing is more genuine
Live streaming is a growing market. In the third quarter of 2020, live streaming portals like Twitch or YouTube achieved a playback time of nearly 7.5 billion hours, according to streamlabs. This is an increase of just under 92 per cent compared to the previous year. A large share of these hours continues to involve gaming offers, but more and more topic-specific channels and live streams are appearing which having nothing to do with gaming or e-sports.
Whether cooking or painting, DIY tutorials or talk shows – there is really nothing that doesn’t exist. The Covid mandates accelerated this boom in diversity. Live streaming is genuine and more personal, giving participants the possibility to directly interact with one another. And it is this direct contact to users that makes this format so interesting for marketing too.
Live stream shopping: how to turn digital experiences into sales
If you would like to know what kind of potential can be found in live stream shopping, you should take a look at China. Back in 2019, the Far East registered about 134 million online buyers via live stream shopping formats. According to a survey by eMarketer (German), this will possibly be more than 400 million persons by the year 2025, who watch product presentations via live streams and can buy them directly with a click. When it comes to social commerce, Germany is still far behind, but experts forecast huge growth opportunities in this area. More than 40 per cent of B2B companies see e-commerce via social media as a relevant factor.
As a result, more and more companies are banking on live stream shopping to present products, to start up a dialogue and interact with customers, to answer questions and to close deals. The interaction in real time is like a real marketplace – the viewer is inspired to actively take part. Particularly in the B2C segment, companies like to work together with influencers or celebrities to make the stream an entertaining experience. And this option is also open to the B2B segment.
How live streaming can take the B2B industry even further
Live streams are an outstanding way to market your own content. According to findstack.com, 80 per cent of live stream viewers prefer to look at a brand through the stream than reading the blog. Generally speaking, the video format is suitable for communicating the complex workings of a product in an understandable way. Unlike the expensive and elaborate production of professional commercials, live streaming is free of charge with a Facebook Live, Instagram or Periscope account. Another advantage of live streaming is that questions from viewers can be directly answered and focus can be placed on what is most important – for precisely meeting the needs of the target group.
What’s more, live streaming is possible in many different situations and for a diverse range of marketing intentions – from live streams broadcasted from trade shows to product presentations and training offers to career days for winning over talents. Exclusive insights into the company’s departments, which are normally not accessible to the wider public, can pique interest and promote the company at the same time.
On top of this is the option to sponsor other live streams which match up well with your own company. For instance, the appearance of the company logo in the field of view helps to reinforce brand awareness.