Is Implementing Live Technology the Game-Changing Move Your Company has been Waiting For?

These days, technology and business go hand in hand, with nearly every shop or service having a website or social media presence, conforming to SEO web design requirements, and routinely exchanging information. There are, however, many more methods to use the internet and now-commonly available technologies to improve your organisation. Even if you don’t think live streaming is something that would naturally apply to your company, it’s worth looking into the possibilities.

Despite the fact that live streaming has long been a viable and commonly utilised technology, the years 2020 and 2021 were crucial in propelling it into the public. Live streaming provides an immersive way to communicate with others in real-time, from people getting acclimated to conducting meetings using live chat applications to more people taking to platforms to show off their skills. The MasterClass learning site is currently one of the most prestigious streaming platforms. You can learn how to cook from Roy Choi, how to think mathematically from Terence Tao, and much more.

MasterClass launched a weekly free series with Kelly Wearstler, Daniel Negreanu, and Sara Blakely, expanding on its spectrum of streamed learning videos. Going live to immediately impart wisdom and deliver in-the-moment suggestions appeals to consumers, as evidenced by the expert and celeb-packed platform. While many live streams just provide viewers with a real-time viewing experience, others have been able to go a step farther and provide two-way engagement.

This is one of the reasons why Twitch’s creative part, as well as its primary gaming section, has become so popular. People can plan live demonstrations of their crafting or cooking, as well as discuss points with other members of the community. People have become accustomed to communicating through live streams as a result of so many social media firms leaning into live media, such as Instagram live stories or those accessible on YouTube and Facebook.

This condition of affairs has also opened the door to even more tech-savvy live streaming applications for full two-way interactions and immersion. There are live games for blackjack, roulette, baccarat, and several new games including Mega Wheel, Dragon Tiger, and even craps at the Betway live casino. Each one provides live, in-person play at an actual table with a human croupier. There aren’t many other applications of live-streamed, real-time interactions that compare to live casino games right now, but Google is eager to get its foot in the door. The Stadia game streaming platform’s Crowd Choice function is believed to establish polls for YouTube viewers, who then select what happens in the game being watched during the live stream.

Using a live broadcast in your company

You may always use one that someone else has already made popular if you don’t want to build up your own live streaming studio or platform channel for frequent streaming. Because many of them realise how receptive their followers (customers) are to the medium, social media influencers are big on live streaming.

Influencers’ reach and pre-cultivated audiences may be used to boost brand awareness and visibility, develop confidence in products, and generate conversations, as explained in this IMA top-ten. Long-term connections with popular influencers, in fact, can result in long-term, devoted followers switching to your company. That’s why the worldwide influencer marketing platform is expected to increase at a 32 percent compound annual growth rate (CAGR) through 2025.

Another option is to provide a more personal touch by creating your own live feeds that clients may request or obtain access to. You may set up customer-facing live chats to hear about any issues, handle common problems, and even gain ideas for new products or services that you know customers want to pay for, as detailed in this ZDNet article. To operate programmes like this, it’s a good idea to send out an email inviting consumers to participate, and then hold a Zoom live chat where individuals who join meetings don’t have to pay.

There are various strategies to increase eCommerce sales, but live streaming is becoming increasingly popular and effective. Live commerce hasn’t quite taken off in Western countries yet, at least not on a major scale, but if China’s enormous eCommerce market is any indication – which it usually is – it’s the way of the future. Even though it’s really simply the shopping channel but personalised, on social media, and significantly less salesman-like, Chinese live commerce sales are estimated to top $420 billion this year. Taobao Live, Alibaba’s live commerce subsidiary, has essentially nailed the live commerce method, generating $7.5 billion in the first 30 minutes of its Singles’ Day in 2020. So, if you’re curious about how it’s done, have a look.

You may use live streaming in a variety of ways to help your company reach its full potential. A live broadcast could be ideal for you if you want to increase brand trust, get customer feedback, or provide a more immersive, in-the-moment online buying experience.

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