Companies selling products are now setting up live-streamed conferences as their primary way of showcasing their products. This is golden because, in the past, not everyone could attend these live streams. Now, it is a whole different story, businesses can set up one and anyone from around the globe can attend the live stream.
In fact, brands are spending around $90 billion on videos in order to live stream.
Consumers from around the globe are now allowed to attend a live stream, so what does this mean for you?
In this article, we will discuss the many benefits that come with selling products on live streams.
Let’s dive right in!
Benefits of selling products on live streams
Time-efficient
Probably the most beneficial thing about selling products on live streams is the amount of time you save. Viewers don’t have to travel, even if they are local. Also, you can reach many people simultaneously without overthinking who will come or not.
This means that you are engaging with people who care about your brand and find your product or service helpful. In short, you communicate with people who are easier to convert and further follow your content.
So when you really think about it, you choose when to start the live stream and when to end it. There is no video editing involved, so if your live stream lasts 30 minutes, then only 30 minutes of your time will be consumed. No other marketing channel can actually do what live streaming does!
Higher audience potential
The best thing about live streaming is that you don’t need to worry about any audience limit. There may be thousands of people joining your live stream, and it won’t really matter. If you were to hold a conference in real life, it might be more of an issue since there is a limit of how many people may join you.
For example, you may see live streams on Facebook, and there are thousands of people joining the live stream, while this may be impossible if you are holding a conference at some room with a maximum capacity of 1000 people. You can see more here about live streaming.
Cost-effective
If you think about it, live streaming is cost-effective in every way possible. In short, it is free and doesn’t require anything from your side except to start and end the live stream. If you are part of a subscribed plan, then that is a different story. Otherwise, all you are using here is your phone or desktop, and the channel you live stream on really depends on you.
Comparatively, going back to traditional marketing, where everybody would meet each other in real life when holding a conference, the costs are much higher. You would need to find the space for presenting your product or service, manually invite people, pay for the area you are using if it doesn’t belong to you, and other costs that may be included.
Let’s not forget that when you are live streaming and presenting a product or service, you are doing this for free as we suppose and closing many people during the stream. Let’s take an example that thousands of people join your stream, and you showcase your product, imagine how many people will contact you to buy your product after. Taking into consideration that you live stream for free.
Reach
When smartphones and laptops didn’t exist, the only way we could reach someone across the globe was through mail or relocating. Facetime, video calling, and texting didn’t exist.
This also counts for selling products an event. Before, the only people who joined the event would be either locals, those from your region, or others who were willing to relocate if they had so much interest. Now, it doesn’t get any easier, you can reach anyone from around the globe without having to do anything complicated except inform them about your live stream.
If you are reaching more people worldwide, then this also means you will find more people interested in your product, which directly affects your revenue.
Easy to use
A huge myth many talk about is that it is difficult for a non-technical person to start live streaming. In fact, live streaming is very easy to set up. The only thing you need is to be connected to the internet and choose the streaming platform you will be using.
For example, if you are live streaming on social media, there really isn’t any technical knowledge you have to know.
Audience interaction
Live streaming gives you face-to-face interaction with your consumers and allows your business to connect at a higher level than ever before. You may effectively tell your brand’s story and showcase the in-depth details of your product.
Businesses that engage in live streaming will usually set up question and answer sessions right after showcasing their product. This gives users a personalized feeling and makes them feel powerful when they are able to get their questions answered.
Mobile streaming
Over five billion users in the world are mobile users. Most users that join live streaming videos are mobile users over desktops since it is much easier to do. Users are carrying their mobiles around everywhere with them.
It’s vital you keep up with the trend and ensure that your audience can easily access your live stream through their smartphones.
Well, we can also consider it the other way for you as well. Live streaming from your mobile can also directly affect the way you sell your products. You have your mobile everywhere you go. Considering that most high-end smartphones now actually have an even better camera than laptops, this is more suitable for you when trying to showcase your product.
Niche-specific
Viewing live streams requires some commitment from your content followers. Simply because they want to make time for you whether it is the right time for them or not. Similarly, live streaming is good because it keeps unwanted people away, directly affecting how you sell your product.
The audience interested in your niche will make time for you and the live stream, which means that anyone who isn’t part of your niche is unlikely to join the live stream. So from here, you know that your participants are the ones who actually care about your business and product.
Allows you to repurpose content
Live videos are a great way of transforming previously existing content into one. Maybe it is some infographic you included in your old blog, a YouTube video you created once, and more. Only the sky’s the limit, and repurposing content is an excellent way of broadening the message you are trying to get across, especially when you are selling a product.
Wrapping it up – why should you live stream?
So, we mentioned the benefits you get when you live stream and sell a product. Live streaming itself creates a sense of excitement for your audience, and it is trying to solve a problem for your audience whenever you are presenting your product. It makes them feel special and included because live streaming gives you a personalized feeling.
Aside from live streaming, you can either use platforms that are focused on live streaming or upload it on YouTube and other social media channels. Maybe someone really wanted to join your stream but was working or had to go somewhere and didn’t have the time. That is okay because once you upload the video, they can still watch it even after. Try giving a reminder on your social media channels that you had a live stream, so the others don’t forget to watch it.
Live streaming itself allows businesses to interact with their audience and promote their brand and products. For example, encouraging your audience to like, share, and comment on your live stream on social media or ask questions during the live stream. Also, guess what? Whenever you are live streaming on social media, these interactions will help increase your brand awareness, which is beneficial for selling products.
That’s about it for this article. You now know what to do and what kind of benefits you will be getting. Hopefully, now you understand how essential live streaming is for your business and product promotion. The only thing that matters now is to turn your mobile on and make sure you have your product next to you because the world is waiting to see what kind of problem it will solve for them!
