According to eMarketer, US digital video ad spending surged to $10 billion in 2016 and is on track to top $18 billion by 2020. With this type of growth, video is proving itself to be a core part of the marketing toolkit. For many reasons, live video is a format brands should consider.
Adweek reports that live video has 76% better brand recall than other commercials, and according to Facebook, users watch live videos more than three times longer than other types of video content. People also prove to be more engaged when watching live videos, commenting ten times more than they would on regular video content.
Live video enables brands to connect with viewers human-to-human. It allows consumers to participate in brand storytelling, which enhances the customer experience. With such a variety of options to choose from—everything from product tours to red carpet events—there is no shortage of offerings to create a touchpoint with consumers along their paths to purchase.
As marketers continue to learn how to use live video, here are seven tips that should kept in mind:
1. Embrace Authenticity
In the age of social media, authenticity and access have become an expectation—especially when it comes to engaging millennial consumers. But with live video, brands must strike a balance between quality and spontaneity.
According to KZO, 62% of consumers have a negative perception of a brand with a low-quality video experience. (It’s kind of the same way a site visitor feels about a slow or ugly website.)
The best approach? Test. Do a “dress rehearsal” and test the livestream at least twice. Pay close attention to sound quality and lag time between the broadcast and filming.
2. Don’t Over-Target
You want to reach the right audience, but not at the expense of driving brand awareness to new people with great live content. Target demographic segments by choosing publishers that align with your brand objectives, but be broad enough to ensure you’ll get enough reach and ROI from your livestream.
3. Remember Timing is Everything
For live broadcasts, timing is everything. Align the day of the week and the time of the day with your target audience. If you’re trying to reach men ages 25-34, weekdays aren’t your best bet. They’re probably at work.
4. Tap Into Influencers
You know FOMO? That’s why live video works. It makes consumers wish they were there, and it draws them to brands. Celebrities, influencers, and thought leaders enhance this aspect of consumer psychology.
Here are two examples:
- Target’s 2016 live commercial for the Grammy’s is a great example of this. Target aired the music video featuring Gwen Stefani during the show. The retailer organized additional views through Periscope, Facebook Live, and Snapchat, and worked with social influencers Todrick Hall and Meg DeAngelis, who shot behind-the-scenes content and made cameos during the video.
- Honeywell recently aired Honeywell LIVE: The Future of the Supply Chain. The company livestreamed interviews—which focused on new product launches and their vision for the connected supply chain—with Honeywell business leaders in front of a live audience at the Honeywell headquarters.
5. Match Live Ads With Live Content
During the recent broadcast of the musical Hairspray, NBC featured live commercials for Oreo and Toyota. During two commercial breaks, viewers saw behind-the-scenes content run next to traditional commercials via split-screen. The exclusive content ensured the viewers stayed engaged during breaks and watched the commercials.
Think of Spotify: They curate playlists for context, like working out. Show live video to viewers who are in the context to engage with it.
6. Gather Instant Feedback
Live video is a chance to get immediate feedback from consumers. Use surveys at the end of your videos to inform creative, gather insights on your most engaged viewers, and collect data for marketing strategy.
7. Keep Users in the Moment
Attract the right viewers through smart targeting. Place your ads on sites and mobile apps that resonate with the demographic you’re trying to reach. Then, guide these viewers to the next step in the path to purchase with appropriate content that matches their stage in the buyer journey.
With the ViralGains platform, you can host a livestream and use Engagement Cards to keep viewers in the moment and guide them to the next phase of the journey.
Use a platform like ViralGains to host live video and promote additional content at the end of the livestream to drive users further down the sales funnel.
The brands who embrace innovation with new video formats will be the ones who stand out from the crowd and achieve the greatest ROI from their video advertising. Involve consumers in your brand story with authentic content and take advantage of the moment through surveys and re-marketing. With these best practices in place, viewers will remember you when it comes to the point of purchase.
What live video advertising tips do you have? Let us know in the comments.
Special thanks to our Head of Ad Operations, Safaa Lafnoune, for her contribution to this post!