How Live Streaming On Social Media Can Grow Your Business
Live streaming is becoming more and more prevalent in business these days, as businesses migrate toward a model which is much more heavily steeped in the usage of social media. Setting up a live stream to benefit your business is taking on much more importance these days because of the variety of ways that a business can improve on its daily operations and become more profitable.
Conference calls can be very expensive to arrange, whereas live streaming for business can put all the important players in a single room, even if they’re not physically present. By making extensive use of live streaming, a company can significantly reduce its travel budget, and save those funds for more important business usages. Here are five of the most important ways that live streaming can be a big help to businesses of today, and how your business can take advantage of these live streaming techniques to get a leg up on the competition.
Marketing budget can be trimmed
One of the many benefits of live streaming is that it will allow you to trim your marketing budget, and for companies which have had difficulty keeping that marketing budget in line, this can be a real godsend. Many businesses rely on an international staff in order to have their products marketed globally, and live streaming can be a crucial factor in reducing travel and expense budgets for such international efforts. The logistics of getting a number of sales and marketing personnel together in one place can be exhausting as well as very expensive to arrange for. With live streaming, this is a problem of the past, and something you no longer have to worry about.
Greater customer engagement
Live streaming can be a huge factor in allowing a company’s clients to feel a much greater connection with your company. With the marketplace being crowded by hundreds if not thousands of companies all struggling to gain traction in the same market, the ones which can rise above the crowd are those which can offer a personal connection to loyal customers. One example of this is in the area of a call center or help desk, where businesses are now shifting from an automated helpdesk to one which is founded on live streaming.
Customers who formerly were frustrated by having to deal with an impersonal response system, can now talk to a live person to have their issues heard and dealt with. This makes people feel much more as though their voices are being heard and that they matter to the company. By providing your customers with a real tangible connection to your brand, you can significantly strengthen your connection with them, increasing the likelihood that they will become repeat customers in the future. It’s also fairly inexpensive to establish a live stream, so your bottom line is not impacted for the business. All parties involved come out way ahead.
More regular progress reports
You can have much more regular progress reports when you’ve set up live streaming for your business, especially since progress reports can then be made without all the important persons involved, actually being present in the room. That makes it much easier for you to stay abreast of what’s happening in your business, including keeping up with all the latest trends that may be happening.
There’s also no excuse for reports not being finished on time in a live streaming environment. Instead of consistently having to tolerate late reports, and creating a corporate environment of mistrust, another huge benefit of live streaming is that it brings transparency to the process. When a company spends money on a project, they don’t have to worry about the progress of that project, but can get immediate feedback through live streaming.
Product launches are another excellent vehicle for live streaming, with your company no longer needing to throw a big public presentation which costs a ton of money to announce the launching of a new product. It also is very effective at eliminating the middleman between you and your customers, because you can provide a very personal touch in launching the product directly to the customers through live streaming.
It may be more fun to have a big launch party and enjoy all the hoopla that goes with it, but if your bottom line is going to be impacted heavily by a traditional product launch, you may want to consider live streaming as a more effective technique. Bypassing the press and going straight to the customer, will give all your clients a much greater feel of connection with your company, and it will help to break down any barriers which may exist. It also shows customers that their approval is important to your company.
Direct communication with customers
Live streaming can provide a wonderful opportunity for direct communication with your customers on an informal basis, and one which gives a face to your company, which is an invaluable marketing and advertising tool. People always relate much better to other people than they do to cold, faceless corporations, and any direct communications you can arrange through live streaming will go a long way toward establishing better customer relationships. Customers will see that the people who are selling products to them are regular people just like they are, with a sense of humor and with the ability to poke fun at themselves when it’s appropriate.
Making the shift toward live streaming can be an extremely important move for a company, because not only will you save money by doing it, but chances are your revenues will increase as well. By reaching a far larger audience of people and spending less money, your company will be able to reinvest some of that excess market spend on enhancements to your actual products. There are even more benefits beyond these which have been mentioned above which are associated with live streaming, and once your company becomes involved in it, you’ll be able to add some additional benefits which you have personally experienced.