With the number of digital marketing tools and opportunities that companies have at their disposal, plenty of businesses still tend to wonder whether they should start investing in live video content in the first place. After all, many businesses, don’t see the difference between live video content on any other type of video content, that is aimed at achieving the same goals, however, that’s not quite the case because live video content is a lot more engaging for audiences across the board, and companies can get a lot of benefits from investing in this type of content.
Audience preference
According to research, around 80% of consumers prefer to watch live video content, compared to any other type of content, including social media, written content, and more. Through this type of video content, companies can motivate their target audiences to take action, whether that’s going to be to take the next step in the buying journey or to finally convert. That means live video content is incredibly effective in getting companies to motivate their consumers to take action, and according to research around 40% of consumers take action after watching live video content. Additionally, this type of content is a lot more cost-effective for companies to make, which means that the return on investment (ROI) companies get is a lot higher compared to other types of content where companies have to invest a lot more time, effort, and money to make and distribute it. Over 70% of companies that use live video content to research target audiences have reported increased positive results from their return on investment.
Conversions
Another benefit that companies can get from investing in live video content is increasing their conversion rates. The main goal that most companies have when they are investing in different types of digital marketing strategies is to increase sales and conversions with their customers. According to research, live video content, and specifically using live video content in marketing efforts, can help companies increase their sales, and more specifically the sales intent with the target audience by over 95%, while also generating more brand awareness and loyalty. These are incredible benefits that companies can get even from the first live video content that they decide to create and distribute.
Use
Finally, companies also get the benefit of using their live video content to generate immediate results during the broadcast, as well as using the same content once the stream is over by repurposing the video content in different forms. For example, companies can take snippets of their live streams to create new shorter videos that they can share across social media platforms, or repurpose the lifestream as a fresh piece of video content for their websites and generate even more positive results because nearly 70% of consumers have stated that they are a lot more likely to make a purchase from a company after they have watched a video.