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Is Livestreaming The Right Move for Your Business?

It’s not enough to just create a Facebook page for your business today. You also need to continuously create content to actively engage with your audience. Livestreaming helps you create content and interact with your audience without sacrificing too much of your time and finances.

But how do you know if you’re ready to start livestreaming for your business and what you should put on video? Here are a few ideas on how you can use livestreaming for brand growth.

What Livestreaming Can Bring to Your Business

Even before the pandemic, the live video industry had already been predicted to reach an estimated worth of more than $70 billion by 2021. And with 1200% more shares than photos and text updates on social media recently, this valuation for live video is being proven true so far.

molly-mahoney-prepared-performerThe Prepared Performer and Camera Confidence coach Molly Mahoney swears by the benefits of livestreaming. She started her coaching career with a failed launch. But when she started livestreaming consistently, she gained a steady following, eventually leading her to create a successful live video course. She was able to achieve a seven-figure income in 2019 and is continuing to help people with their livestreaming journey despite challenges brought on by the pandemic.

Learn more about Molly’s journey in this blog post.

Ubersuggest creator and analytics expert Neill Patel believes that livestreaming can help businesses financially grow at practically no cost.

He said:

One of the main reasons you should care about live stream is simply due to its huge user base and growing popularity.

The potential to reach thousands (or more) of new customers with the click of a button is becoming a reality.

When tactics like search engine optimization and content marketing are taking up too much time and money, you need a new outlet to drive traffic.

Using live-stream platforms is a nearly free way to drive tons of revenue for your business.

Social media expert and coach Brian Kramer said livestreaming is a “key marketing and communications tool that helps brands reach their online audience.”

Livestreaming isn’t just about increasing social media growth anymore. Venturing into this marketing strategy brings a host of benefits to a business such as:

  • Increasing brand awareness
  • Establishing business authenticity
  • Building trust in your brand
  • Saving on time, cost, and effort
  • Creating deeper relationships with your audience

What To Consider Before Starting

The live video industry has been slowly dominating the marketing world and now is the best time to join the fray. However, there are certain factors you need to consider before fully immersing in livestreaming.

Remember, every successful endeavor needs proper planning and to create a solid livestreaming plan, you need to assess your needs first.

Cost and Resources

livestreaming-for-business-resourcesLivestreaming is a cost-effective marketing strategy, which is great for small businesses and entrepreneurs on a low budget. But you’ll still need encounter some expenses, especially if you want to come up with a professional-looking show.

Facebook Live doesn’t charge extra for going live on the platform but you may need to pay a monthly or annual fee if you subscribe to a third-party tool. Naive Facebook or YouTube live apps don’t offer much in terms of features to boost your business’ branding.

One such third-party tool is BeLive, a Facebook Solutions Partner that helps you create impressive broadcasts with absolute ease. Decide which package suits your needs best and start using the features for your livestreams.

Meanwhile, OBS is a free livestreaming software that you can download and use on your own. But, it’s a highly technical tool, requiring a bit of time to understand and use. If you’re not a very techy person, this software may overwhelm you.

Whether you use a free or paid livestreaming software for your shows, make sure you’re prepared to learn and use them for maximum results.

You should also consider the gear you need to start a livestream. Some of the basic equipment you need are:

  • Reliable laptop with a working webcam and microphone
  • Strong internet connection

Using BeLive, you can go live right away with just these. But once you get the hang of livestreaming, and you want to upgrade your setup, you may also need:

Your Audience

Another aspect to consider for livestreaming is your audience. Find out what their pain points are and address those when you go live.

You may already have a list of topics to use for your shows but are they interesting enough to hold your target audience’s attention for an extended period of time?

Ask yourself these questions when you work on your content plan:

  • What problems do my viewers have?
  • What are the most common questions asked by my target audience?
  • Can I answer their questions?
  • What solutions can I offer to their problems

Try searching on Reddit or Quora for common or popular questions.

Once you find the answers to these questions then creating a content plan that’s interesting and relevant to your audience will be easier for you to do.

Your Capabilities

livestreaming-for-business-capabilitiesWanting to do something is one thing, but actually doing it is an entirely different thing altogether. If you want to go live for your business, you need to make sure you have the proper equipment for it. Another thing you need to assess are your team’s talents and capabilities to take on such a huge project.

If you’re just planning for a one-off broadcast, that won’t bring in much results. You may need a few weeks and several consistent shows before results for livestreaming to start manifesting. It takes patience and investment.

Creating a live content strategy needs talent and attention. So does hosting a live show. You may have to hire someone or pick from your existing staff to help you out. The good news though is that writing and public speaking skills can be taught and learned. Seek out trainings to build your confidence on camera.

The Role of Social Media Marketing in Rebuilding the Economy

The world faced a lot of challenges in recent months, most especially the global economy. Nevertheless, small businesses still tried to stay afloat despite facing issues in various areas.

Luckily, livestreaming is already here and it’s not just here to stay. It will grow and evolve to help your business grow and succeed despite the challenges

Have you tried livestreaming for your business? Do you see its potential as a tool to grow your business?

Try going live with BeLive now and enjoy the benefits of livestreaming for your business!

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