How about reaching your audience anytime and anywhere as a business with the help of event live streaming services?
Your audience can remotely attend your events, and with that, you will also unlock a wide room for attracting more consumers to your business. OTT live streaming lets you achieve it and gives ample benefits to your business, no matter if you are a small business or a full-fledged enterprise. However, before moving to the benefits, we want to inform you with some interesting facts about the live streaming industry.
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Interesting Live streaming statistics
- The live streaming industry is expected to reach $416.84 billion by 2030, with a CAGR of 21.5%.
- Leading live streaming platforms registered 7.2 Billion hours of content watched in the third quarter of 2022.
- Multi-streaming platforms are going to be the future.
- Businesses can increase by nearly 50% revenue using live streaming services.
- Videos on the landing page drive 80% more conversions to businesses.
The world is moving towards video format, and if your business stays behind the curve, you will lose hold in the competitive market. Let us move to the top ways live streaming benefits your business so that you can plan a live streaming strategy for your business.
Crucial Ways to Use OTT live streaming
The exponential growth and revenue of the businesses using live streaming services are evidential. It is the reason why businesses are using live streaming platforms. But do you know why?
Here are the top ways OTT live streaming platforms are benefiting businesses and can deliver the same to your business also.
Live product announcements and launches
Have you noticed the smartphone industry? They build hype using live streaming platforms to build the hype. Users stay tuned to their product announcements and also join the live events when the phones are launched. Later live streaming also lets them deliver live sales numbers when the product is available for sale.
Your business can apply the same principle. Announce the launch through live event video streaming services and let the users market your announcements. It will grow your final launch event consumer base, and this will deliver massive sales and revenue to your business.
Live educational events
Another great advantage for your business is live informational and educational events. With the consumer base, businesses also have to focus on multiple other parameters to keep their business sustainable. And if you are a business that also believes in spreading education and information to the world, live streaming can deliver you ample benefits.
Your business can target any demographics and spread your educational videos live to the users. It draws a lot of media attention.
Live organization environment showcase
Sometimes it is important to showcase behind the scenes of your organization. Maybe your organization’s infrastructure tour or how critical you take security and quality. Live streaming behind the scenes of your company will deliver you multiple advantages. These include:
- Wide audience coverage
- Building a sense of community showing users are part of the company
- Introducing the experts working in your organization to showcase your expertise
- Work environment and infrastructure of your company to let users trust more on your organized and healthy system
Streaming offline events
Is it a seminar going on in your organization where the world’s leading experts have joined? And you have limited space for the audience, which is why you cannot let all your users join the event. The answer here is live events streaming services.
With OTT streaming platforms, you can host offline events and parallel broadcast them live to all users. No matter if it is in thousands or millions. In India, the IPL final was watched by nearly 20 million people.
Not only cricket but majority of the sports like Football, Basketball, and more, have shifted to sports live streaming. In fact, you can maximize the revenue from broadcasting the offline event.
Live questions and answering
Social media is a great place to add polls. Your consumers can vote or drop their questions right on your posts. However, responding to all of them is impossible for a giant business. However, it can be achieved from live questions and answering broadcasts.
From social media platforms, you can shortlist the most asked questions and answers. Now once you have your list of Questions ready, you can set up a live QA session where you read the questions of the users and answer them live in front of millions of users. The benefits include:
- An effective strategy to generate lead
- A significant boost in engagement from the consumers
- Better connections with the customers
Interviews with industry experts
Creating a buzz with the interviews is a great way to showcase the professionalism of your businesses. Now the podcasts business has completely shifted to live events streaming platforms. You can connect with industry experts and educate your consumers with shared insights.
Live interviews boost interaction from your audience with the added buttons where customers can follow the profile you are interviewing. Further, you showcase the expertise you hold with your consumers building stronger trust and reliability in their minds.
Advantages of OTT Live Streaming
High-Quality Streaming
OTT platforms offer high-definition (HD) and even 4K streaming options, providing viewers with a superior visual experience compared to traditional broadcast channels.
Multi-Platform Accessibility
OTT streaming services are easily accessible across various devices, including smartphones, tablets, smart TVs, gaming consoles, and computers. This flexibility allows users to watch content on their preferred device anytime and anywhere.
Personalization and Recommendation
Streaming content on the basis of personalized recommendations, such as user preferences and habits is one of the key features you get via OTT. This enables users to discover new content focused on their interests, enhancing their overall engagement and satisfaction.
Interactive Features
Interactive features, such as live chat, QnA and audience participation are widely preferred on live streaming platforms. These features enable viewers to engage with the content, interact with other viewers, and provide real-time feedback.
Monetization Opportunities
OTT platforms offer various monetization models, including subscriptions, pay-per-view events, advertising, and more. This provides content creators and providers with multiple revenue streams, making it an attractive distribution channel.
Ending Words
When you opt for live streaming services, you unlock privacy and security for your business by avoiding illegal streaming or recording. Further, you can showcase multiple options to your consumers to interact with your businesses through a buy, follow, or support button.
As a business, you must take advantage of OTT live streaming platforms and services to achieve cost-effectiveness. No doubt, the future is a video format, and live streaming will be the essential tool for businesses to generate massive revenue, consumer base, and growth.
