Forrester: How Brands Can Livestream Successfully
There are many reasons live video has become the go-to tool for savvy brand marketers. The technical and financial barriers to entry have fallen, social platforms are prioritizing it in their algorithms, and audiences are attracted to it, according to a report from research group Forrester that shared how brands can livestream successfully.
Live video presents brands with opportunities to interact with customers in real-time and reach audiences that would be otherwise inaccessible. The Forrester report “Prepare to Support Video Livestreaming for Customer Experiences” says brands can livestream successfully and stand out from the competition with well-tested technology.
Live Video Has Become More Accessible
Once costly and challenging to deploy, the democratization of technology means that brands can execute live video easily with a smartphone, or an entry-level camera like the Mevo Plus, livestream’s live event camera. There’s no need for post-production work, reducing the overall cost of the technology. “It’s exciting that we have this canvas now and can lower the cost of video production,” Ryan Sullivan, senior vice president of performance services at media agency Performics, says in the report.
How Brands Can Livestream Successfully
While live video appears to be the latest tool in a marketer’s arsenal, Forrester notes that it’s important to know not just how to do it but how to set yourself up for a successful livestream.
#1 Start Small
Slow and steady wins the race. Instead of diving headfirst into costly equipment, start first with low-cost hardware like a smartphone and external microphone. As you begin to see success, you can invest in more sophisticated, but still easy-to-use, hardware like Livestream’s three-camera kit.
#2 Syndicate Your Live Video
If you already have a following on social media, start broadcasting to your existing audience. Then continue to expand your audience by syndicating your livestreams to other social platforms. You can do that with Livestream by streaming your video across multiple platforms simultaneously.
#3 Triple-Check Your Connectivity
Ensure you have a dedicated and reliable wifi or wired connection that no other device has access to, in order to reduce bandwidth fluctuation during your stream. “Livestream is able to auto adjust bandwidth and change our stream, according to what works best,” says Chad Reese, director of information technology at the Pro Football Hall of Fame. “If you’ve got a good bandwidth you can really pull off some spectacular things.”
Once You’re Doing Live Video Well…
#4 Expand Your Audience
Forrester pointed to Tough Mudder as an example of a brand doing it right. The endurance race events company turned to Livestream with the goal to attract audiences they weren’t able to previously reach. At most events, it broadcasts six feeds from on its own website, as well as a single stream on Facebook. Tough Mudder also promotes events across its social media channels, driving viewers back to its website. Its focused strategy attracted around 14.5 million unique views across Livestream and Facebook in 2016, with a website peak concurrency at 70,000.
#5 Interact with Your Audience in Real-Time
According to Mike Delgado, director of social media for Experian, interaction is really about “listening and figuring out what your community cares about.” The credit reporting agency hosts a live credit chat on Periscope daily, answering questions and giving advice on financial matters. On average, the livestream sees over 3,000 comments and 500 viewers each month.
Final Takeaway from Forrester
Livestreaming video gives brands a unique opportunity to get closer to their customers and interact more authentically with their audiences – now at an even lower price point. However brands still need to put in the legwork when it comes to testing and technology to take their livestreaming experience to the next level.
Learn more about Tough Mudder’s live video strategy in our case study or explore Livestream’s plans to get started.