5 ways live streaming can transform businesses with real-time engagement and growth
By 2027, the global live streaming market is expected to reach $247 billion (Market Research Future). Live streaming is an increasingly popular and valuable tool that allows for businesses to connect with audiences in new and exciting ways. Platforms like Instagram, TikTok, and Twitch make it incredibly easy to broadcast and engage with people in real time. Here are five ways live streaming can be helpful for businesses:
Increased audience reach: Live streaming allows businesses to reach a larger audience by broadcasting their content in real-time to people around the world. Popular social media networks such as Facebook, YouTube, and LinkedIn often integrate live streaming into their platforms. This integration allows businesses to leverage their existing social media presence and followers. These live streams can then be shared, promoted, and discovered through social media channels, amplifying the reach and exposure to a wider audience.
Enhanced engagement and interaction: Live streaming offers an interactive experience, enabling businesses to engage with their audience in real time. Viewers can ask questions, leave comments, and participate in polls or surveys, providing immediate feedback. This fosters a sense of community and strengthens the relationship between the business and its customers. This heightened level of engagement attracts a larger audience and keeps them actively involved throughout the broadcast.
Product demonstrations and launches: Live streaming provides an excellent platform for showcasing and demonstrating products or services. Businesses can use live streams to unveil new products, offer exclusive sneak peeks, or provide in-depth tutorials and demonstrations. This real-time visual engagement can generate excitement, boost product awareness, and ultimately drive sales.
Thought leadership and expertise: Live streaming allows businesses to position themselves as thought leaders in their industry. By hosting live webinars, panel discussions, or Q&A sessions, companies can share valuable insights, industry knowledge, and expertise. This not only builds trust and credibility among the audience but also helps establish the business as a go-to resource for information.
Behind-the-scenes access: Live streaming offers a unique opportunity to provide behind-the-scenes glimpses into the business. By showcasing the people, processes, and day-to-day operations, companies can create a sense of transparency and authenticity. This humanizes the brand and fosters a deeper connection with the audience, leading to increased loyalty and customer advocacy.
These are just a few examples of how live streaming can benefit businesses. The key is to tailor livestream content to align with the company’s goals and target audience and to consistently deliver high-quality, engaging broadcasts.
Exploring the Latest Trends Shaping the Future of Programmatic Advertising
The programmatic advertising industry has seen a surge in growth over the past few years, with the trend showing no signs of slowing down. In 2023, programmatic advertising is projected to reach $113 billion in ad spend, accounting for 85% of all digital display ads. In this article, we will discuss the latest online programmatic industry trends that are shaping the future of digital advertising.
1. Increased Demand for Data-Driven Insights
As advertisers look to make informed decisions and reach the right audience, they are increasingly turning to data-driven insights. The use of data-driven insights helps advertisers understand consumer behavior and optimize their campaigns for maximum impact. In the programmatic space, this trend has resulted in the rise of data management platforms (DMPs) and the use of advanced analytics tools.
2. Growth of Private Marketplaces (PMPs)
Private marketplaces (PMPs) have been gaining traction in recent years as a way for advertisers to access premium inventory in a more controlled and transparent environment. PMPs provide advertisers with the ability to negotiate directly with publishers, allowing for better pricing and more targeted campaigns. This trend is expected to continue as advertisers seek to reach specific audience segments and improve the efficiency of their campaigns.
3. Rise of Connected TV (CTV)
Connected TV (CTV) has emerged as a major player in the programmatic industry, with the number of CTV ad impressions expected to reach 2 trillion by the end of 2022. The growth of CTV is driven by the increasing popularity of streaming services, as well as the growing number of households with smart TVs. Advertisers are taking advantage of this trend by incorporating CTV into their programmatic campaigns, providing them with a way to reach a large and engaged audience.
4. Emergence of In-App Advertising
With the growing number of consumers spending time on mobile devices, in-app advertising has become a crucial part of the programmatic industry. In-app advertising allows advertisers to reach users while they are actively engaged with their mobile devices, providing a more effective way to reach the target audience. This trend is expected to continue, with in-app advertising spending expected to reach $200 billion by 2022.
5. Focus on Privacy and Data Security
As the use of data and technology continues to grow in the programmatic industry, privacy and data security have become a major concern. Advertisers and consumers alike are demanding increased transparency and accountability when it comes to the collection, use, and storage of data. In response, the industry has seen the development of privacy-focused technologies, such as browser-based privacy controls and GDPR-compliant data management solutions.
In conclusion, the online programmatic industry is experiencing rapid growth, driven by the increasing demand for data-driven insights, the growth of private marketplaces, the rise of CTV and in-app advertising, and the focus on privacy and data security. As the industry continues to evolve, advertisers and publishers will need to stay informed and adapt to these trends to remain competitive and successful.
The 5 golden KPI to evaluate your programmatic campaigns
Programmatic ad campaigns allow marketers to pay for the best option to reach large audiences online. By understanding key performance indicators (KPIs), they are able to determine important metrics that provide pertinent data on their campaign.
Media bought through programmatic channels are not as easy to track as set purchases made for mass media. With mass media, it is clear how many times an ad is run because it is based on the initial purchase of ad space. However, programmatic advertising inherently functions differently and so it is crucial to know the KPIs that exist because they serve as benchmarks and data points to maximize your success.
Listed below are 5 golden KPIs to evaluate your programmatic campaigns:
- Clicks. In the world of programmatic advertising, clicks are the one of the most obvious yet crucial performance indicators. They are an uncomplicated performance metric as it is simply measuring the number of clicks your ad receives. While not all clicks may be deliberate, they still remain an indicator of of the digital landscape.
- Reach. To measure the direct effects of an ad campaign, using reach as a metric can be incredibly helpful. Rather than rely on measuring views, reach is determined per person. Therefore, by combining it with other metrics, it can create a broad understanding of the effects of your programmatic advertising.
- ROAS. Return on ad spend, or ROAS for short, determines gross revenue for the amount of money that is spent on advertising. It works similarly to the concept of Return On Investment (ROI) by illustrating a bigger picture from which to extrapolate information and help to understand the efficiency of your market spending.
- Impressions. As a standard, impressions are a critical metric because they can help you understand how many times a third-party site has displayed an ad. This is a baseline key performance metric that allows better control and maintenance of your ad’s success. It’s important to mention, however, that this does not correlate to the number of times your ad has been seen but simply the amount of times it has shown up in a digital space.
- Conversions. Conversions act as a way to measure the number of times an action has been completed in reaction to an ad display. For example, buying, signing up, and sharing can all act as conversions. One of the most powerful aspects of the conversion metric is that it means that the customer is more likely to interact with that company again as they’ve already shown direct interest.
5 of the largest livestreaming platforms for generating revenue today
Many people enjoy watching live streams because they have the opportunity to not only interact with the creator but also with other viewers. There is a human element to the content creation that is an attractive aspect of livestreaming for many viewers. Livestreaming has grown to be one on the largest online markets for creators and companies to grow and generate revenue. The global influence of social media makes it a powerful way to build relationships with an audience. Companies can livestream from their own channels or use other channels to advertise and establish immediate connection with customers. Influencers are key for many of these organizations to maximize their revenue and reach from livestreaming. Their proximity to viewers allow them to interact in real time with potential customers and promote products either verbally or through written chats.
Here are 5 of the biggest live streaming apps for generating revenue today:
- Twitch. While initially built for gamers, Twitch has grown to be one of the most recognizable names in the world of streaming. Many creators have built huge names for themselves on the platform doing anything from cooking, to music, to playing video games. Depending on how many subscribers they have, streamers can make anywhere from a few dollars a month to thousands.
- YouTube Live. YouTube Live has recently become a phenomenal way for streamers to connect with fans because of the platforms already well established place in the world of video streaming. Many people are already active YouTube users and so the livestreaming aspect of the platform is just an added extension to a product that people are already familiar with. Viewers can donate to streamers affording them an income from the live content they produce.
- Bigo Live. Founded in 2014, Bigo Live is a powerful live streaming app that allows users to stream and interact with other users. You can earn anywhere from a hundred dollars a month to thousands depending on your content and followers. Bigo Live makes use of audience engaging tools such as stickers and gifts that can later be cashed out by the streamer.
- TikTok Live. As one of the largest social media platforms in the world, TikTok affords creators huge opportunities to connect with new audiences. There are specific guidelines that creators must follow to make money on the stream but their livestream feature still exists as a powerful way to gain revenue due to the sheer amount of people on the platform.
- BuzzCast. BuzzCast seeks to establish connection between people through any number of different activities. Broadcasters can receive diamonds from viewers that are then converted to cash. Unlike some of the other streaming services, BuzzCast does not rely on one form of content for creators but rather possesses a huge diversity of popular creation options.
These 5 streaming services are some of the biggest platforms in the world for generating revenue. However, as the market changes so will the competition. New platforms are being created every year and will afford creators and companies new opportunities to cash in on the world of livestreaming. Generating profit on these apps takes consistency and a dedication to the viewers. Despite this, if done correctly it can be a lucrative form of revenue production.
Current Trends in Live Streaming
Live streaming is an ever changing platform that creators use to communicate with their audiences. These streams are constantly developing new standards, audiences constantly expect new unique content, and creators are constantly looking for the best new technology to help them generate their maximum revenue. Since live streaming seems to always be changing, it can be difficult to follow. That is why we are laying out the current active trends in the live streaming community, to help you stay in the loop.
Firstly, it is important to understand the growth of the streaming industry. Between 2019 and 2020, the industry grew by 99%. The following year, the industry experienced 21% growth. This trend in overall growth and development, and consistent increases in revenue is not expected to stop any time soon.
Getting into more specific trends, current audiences are moving away from long stories in live streaming. Enormous numbers of consumers reported to prefer short video content. Platforms like Instagram stories, and TikTok have fully taken advantage of this trend and heavily capitalize on it, dominating the short video content market.
Whether you are interested in learning more about live streaming or not, everyone should be aware of this next trend. Live streamed music is slowly phasing out traditional radio. Whether its creators showing off their playlists, artists releasing new music on live streams, or DJ’s giving a live audience a show, radio stations can not compete with the innovation and versatility of live streaming music. In the next several years, keep an eye out for your favorite radio stations shifting over to live streaming platforms to reach a wider audience.
Radio isn’t the only traditional platform on the decrease. Live television is rapidly losing popularity as well. Many experts believe that live sports will be the first to completely shift over to live streaming platforms. We see it now with many sporting events on ESPN+ and Hulu such as MMA, college sports, and even nationally televised basketball and football games. For many people, this rapid introduction of sports into live streaming platforms has gone unnoticed, so be sure to look out for your favorite programs, and sports to be taken off the air, and added to streaming services.
The last trend I will cover is creator collaboration. Studies definitively show that when creators collaborate in their content, and share the stage, numbers sky rocket. Their combined viewerships and sponsors respond very well to multiple creators working together in their content. This is a trend in live streaming that will be around for a long time as there is a direct correlation from creator content collaboration, and total number of streams and profit.