Welcome to the Topic “The statistics around live streaming and how it can help your business”
Are you curious about live streaming and its potential impact on your business? You’re not alone. According to recent statistics, live streaming is growing in popularity at an alarming rate. By 2021, it’s expected that over 80% of internet users will watch video content online. So what does that mean for your business?
It’s time to start thinking about how you can use streaming to reach your target audience and grow your bottom line. Ready to learn more? Keep reading for some helpful insights into the world of live streaming and how it can help your business.
Live streaming business benefits:
Some apparent benefits that live streaming offers to all businesses are:
You Can Build Trust With Prospective Buyers
Technology cannot teleport you into a buyer’s room, but live-streaming can do that. Adding a video engagement to your business and marketing plans gives it a significant boost that no other thing can provide.
When your subscribers see you laughing or stumbling over the occasional word, it means much more than you think. These simple-looking interactions represent your brand in front of the real users.
Within a couple of minutes, your brand reputation will be boosted, and the overall experience will become more relatable to users through live-streaming. Once you build that vital trust, then you can easily make a real connection with your target audience.
You Can Close The Gap Between Physical And Digital Worlds
A few decades ago, there was a lot of difference between the physical and digital worlds. However, that’s not the case today. In fact, both have become next-door neighbors, and to some extent, we can say that both are sharing a roof.
Businesses who are already using live-streaming hedge their moves a little bit. By having an online presence of your brand, you can easily increase your accessibility and explore other income streams. Even if you have never planned to expand your business to the online world, some general niches like live entertainment will need it in these times.
Your physical store’s visitors might ebb and flow beyond your expectations, but digital doors are always open for businesses. And you might be ruling both the digital and physical worlds.
Creates Real-Time Brand Engagement
Live-streaming is ideal for changing traditional ways and deepening your engagement with your target market. By hosting an engaging conversation with users, you can answer their questions, share background details, and have some fun with them.
You need to remember that no other medium offers this facility. Moreover, users crave personalities exciting stories and like to take a peek behind the scenes. Live- streaming provides all these features to you.
Reduces Unforeseen Cost
For all those who are more concerned about taxes more than anything will be glad to know that live-streaming will help you in this case. When you consider all the areas where you can implement it, live-streaming will be a highly efficient way to reduce your business expenses.
Training programs for business are always time-consuming and cost you some bucks, but that won’t be the case if you use live streaming. With this medium, you will only need coordination, some space to host, and a reliable internet connection—no need to deal with the scheduling headache, conflicts, and unnecessary commutes.
Similarly, when you arrange events through live streaming, there’s no limit to how many users you can pack in your conference room. With events like a product launch, your premium customers who live far or near can attend the event without any glitches and enjoy the show. In simple words, Live-streaming saves businesses massive resources and time as well.
Key Stat about Live Streaming
1. The Live Streaming Market is Worth Billions
According to the Research and Markets via PR Newswire, it is estimated that by the end of 2021, the live streaming market will reach over $71.05 billion. That’s massive numbers and growth considering that back in 2015, the market was standing at $30.29 billion.
Perhaps the biggest benefit of live streaming that you will not find in others is the ability to skip advertisements, and you can access content on-demand content apart from watching them in real-time.
2. Esports Drives Live Streaming
Around 54% of live streamers stream gaming and Esports content. But do you know what others do?
Around 17% of users like to stream music, sports, and entertainment, whereas around 6% stream their daily life events. Similarly, about 9% of streamers publish professional content, and 14% stream other topics.
The same report revealed that around 78% of those 24 years old are inclined towards gaming. On the other hand, users that are 45 years old and higher prefer watching entertainment more than any other thing.
Similarly, young mates stream as a hobby, whereas older folks like to stream because they want to establish their own brand.
3. The Biggest Platforms for Live Streaming
Do you know that Twitch is one of the biggest platforms you can use to stream your content live. Besides, you will be surprised to know that Twitch receives around 30 million visitors daily.
Moreover, half of its audience includes users aged between 18 and 34. Around 21% of Twitch users are aged between 13 to 17 years old. Averagely, its views are over 2.5 million at a given time.
4. Covid-19 has Significantly Affected Video Marketers
According to Wyzowl, the COVID pandemic affected the video marketing plans of about 39% of businesses. But 74% of businesses said that this pandemic has made them more likely to use video in their marketing plans.
5. Most of Us Find New Video Content Through Word of Mouth
According to Nielsen, most of us find new video content, including live-streaming, through family members, friends, and word of mouth.
When it comes to video ads, 47% of users said they view new shows on TV, while around 32% find new content while seeing movies. Whereas 36% of users stated that they learn about new movies and TV shows online and through social media.
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