Over the last few months, live streaming apps like Meerkat and Periscope have gained a lot of public attention and interest. They are the latest socially-connected apps that let users broadcast live video. The real-time streaming of videos offers a tremendous opportunity to show authenticity, transparency and spread a message far and wide which is what sparked an interest for this article.

So what are these apps all about? Basically, the video is streamed from your smartphone, giving people a live look at what’s happening anywhere at any given time. This growing data-rich live-video stream will provide endless possibilities for advertisers to engage audiences, and see in real-time how that engagement plays out. Instead of analysis based on previous activities, the goal with streaming analytics is to enable near real-time decision making by letting companies react and analyse data as it happens. This article will look at how brands can monetise live-streaming apps, as well as tips on how to run these campaigns successfully.

How to monetise?

There are many ways to monetise live-streaming apps. One is sharing in the earnings that arise from connecting celebrities with their fans. On Meerkat for example, a button appears after a broadcast has ended that allows viewers to give money to the artist or get more information about the topic streamed. For example, at the conclusion of Madonna’s “Ghosttown” music video premiere, Meerkat users could click a button that would send them to iTunes if they wanted to buy her Rebel Heart album. Advertisers already sponsor multiple live events, from annual meetings, sporting events and concerts to new product announcements, so live broadcasting gives another avenue to reach the target audience.

Behind the Scenes and Virtual Attendance

Before thinking about the financial benefits, think about in what ways you could build more meaningful and authentic relationships with your audience online. Gary Vaynerchuk streamed behind the scenes of filming his #AskGaryVee podcast. This was great because viewers could see more of his office and his staff. Similarly, Brian Fanzo streamed what he saw and did at South by Southwest which was an inside perspective for those who couldn’t attend the big event in Austin, Texas. From a data perspective, high level interaction is extremely valuable for both SMEs and large corporations. 

Scheduled interactive content and timing

Another great advantage of live steaming apps is the chance to engage with your audience in an innovative and interactive way. For example, Chris Barrows has started a regular Sunday series called #SundaySocial where he breaks out topics relevant to social media enthusiasts and discusses them with the audience. Do some research on your Twitter audience to find out what times and days they’re most engaged with your posts. For best results, keep track of your analytics on Twitter if you use Periscope and make any changes from there. Big brands are already experimenting on Meerkat as well. The leader board includes Mashable, Fast Company, Red Bull, MTV and Starbucks. Red Bull made a particularly creative use of Meerkat for livestreaming events, broadcasting its Double Pipe snowboarding competition.

Experiment the way to tell the story

Timing and content are an essential part of live streaming apps. However, both Periscope and Meerkat are extremely new and there is no best defined way to use them yet. So this is the perfect time to experiment and see what works best for you and your unique audience. Consider a variety of analytics measures that allow you to make the best decisions and optimise your marketing performance in the future.

Make your broadcast easy to find

When you use live broadcasting apps like Periscope, you’ll have the option to do a private broadcast, share the broadcast on Twitter, and share your location. If you turn Twitter sharing on, then your broadcast will be shared with your Twitter followers in a tweet that follows this structure:

LIVE on #Periscope: [Video Title] [Link to Video].

The broadcast will expire after 24 hours, and anyone who clicks on the link will be redirected to a page encouraging them to check out your broadcasts and download the app. It’s a perfect opportunity for you to find out who your most loyal fans are and speak to them in a language they can understand as well as attract new followers and potential consumers and drive traffic to your business.

To recap, here are a few ways you could use a live broadcasting apps to boost your marketing strategy:

  • Announcing a new product
  • Providing a product demonstration
  • Giving your audience a behind-the-scenes look at an event, tradeshow or conference
  • Hosting an interview or speech

What are your thoughts about live-streaming apps? How would you use it for your business?

 

By Diana Tolockaite, Fast Web Media.

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