We have known for some time now that audio and visual content get better marketing results than other types of content. Viewing (and listening) seem to be more widely accepted than written content. It’s easier to translate via subtitles and still convey the same message, and research shows customers expect live video at every step of the buying journey.
To meet this growing demand, brands are discovering new ways to use online tools such as Vimeo, LinkedIn Live, Facebook Live, and Periscope in their marketing stacks. Here’s what stream media involves and why you should consider using it to promote your business.
What is Streaming Media?
[quotes]Streaming is what happens when consumers watch TV or listen to podcasts on internet-connected devices.[/quotes] With streaming, the media file that gets played on the customer’s device is stored remotely and is transmitted a few seconds at a time over the internet.
This gives companies the chance to present new and existing products, create demonstrations or how-to videos, broadcast exhibitions or other events, or collaborate with influencers to amplify their message.
Another widespread use of live streaming is to host a webinar, where the audience can interact with a presenter, ask questions, and dive deep into a specific topic.
Using Streaming Media in Marketing
[quotes]Using live-stream platforms is an almost-free way to drive tons of revenue for your business.[/quotes] The genre has a very large user base, and it continues to grow in popularity, giving you the chance to reach thousands of new customers every day at the click of your mouse.
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SEO Too Expensive, Taking Too Long to Work?
If you find marketing methods like search engine optimization and content development take too much time and money, using live-stream platforms is an excellent way to trim the budget and improve your results.
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Types of Streaming Media
The streaming media revolution means audiences have a range of channels to choose from, but all of these allow you to reach them with your message. Let’s look at the three most popular types of media streaming technology.
OTT Media. Over-the-top (OTT) media is a service that viewers access via the public internet, instead of the closed, private networks that use set-top boxes, cable boxes, or decoders. OTT media reaches viewers through streaming devices and services such as Hulu, Roku, Amazon Fire TV, Apple TV and others. This allows it to bypass the traditional television platforms that usually control and distribute video content.
OTT usually consists of subscription-based video on demand, and viewers can see it on computers, mobile devices, video game consoles, and smart TVs. This tactic enables marketers to provide targeted, individualized content to viewers who watch specific shows based on their recorded areas of interest.
Programmatic Advertising. OTT marketing is made possible on internet-connected TV sets through the use of programmatic ad buying. This is when marketers use digital software and algorithms to buy digital ad placements instead of the long traditional process of getting quotes and negotiating those placements.
Although human input is still needed to plan and optimize the marketing, getting machines to do a large chunk of the marketing work gives you more time to spend on managing your business.
Addressable TV Marketing. While programmatic advertising means you can buy ad placements on a platform according to a prearranged formula – similar to ad spend for Google Ads – addressable TV advertising is the option to show different ads to different households while they are watching the same programming.
This resembles online retargeting, which allows you to deliver personalized ads via TV to your target audience based on their interests, habits, and demographics.
The software tracks and collects information about users from various sources, such as the programs they watch, the devices they use, and their online behavior across devices. [quotesright]The data creates a household profile available to cable operators, OTT providers, and marketers, which allows the serving of specific commercials to specific homes. [/quotesright]
How Streaming Media Marketing Benefits Businesses
Small businesses naturally have smaller marketing budgets than their larger counterparts, which translates into the need to get as much “bang for their buck” as possible. Research by Nielsen shows TV commercials are one of the most trusted forms of advertising, with 68 percent of consumers reporting they took action based on this kind of promotion.
This statistic makes TV commercials an excellent option for small businesses, enabling companies to target audiences more precisely, expand their brand reach, and drive customer engagement. Overall, streaming media is generally more affordable.
[quotes]The immediacy of online video platforms creates a sense of urgency and “now-ness” that text ads lack.[/quotes] The analytics opportunities offered by online marketing strategies provide valuable business intelligence for companies.
All these factors lead to more robust returns, making the process more affordable and more profitable for small and medium-sized businesses.
Why Streaming Media is Key for Your Business
The various forms of streaming media have been growing exponentially over the past few years, with a 330 percent rise in programmatic OTT ad transactions in the U.S. in 2020. Digital video spending on OTT services like Hulu and Roku will grow again this year to reach $14.6 billion by 2023, mainly because of the popularity of video content and OTT viewership in particular.
[quotesright]For business owners looking for a new, budget-friendly way to reach prospective customers, streaming media is an option you shouldn’t overlook. [/quotesright] Include this in your business strategy planning. Make successful marketing one of your goals and objectives and allocate some funds to getting it off the ground as you approach the post-COVID-19 marketplace.
Reources:
- https://marketingland.com/video-marketing-tops-list-of-marketers-priorities-voice-search-ranks-low-266160
- https://www.businessnewsdaily.com/9442-how-to-livestream-advertise-for-business.html
- https://neilpatel.com/blog/live-streaming-importance-2018/
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- https://livestream.com/blog/live-video-strategy-marketing-statistics
- https://www.marketingdive.com/news/what-the-audio-streaming-revolution-means-for-marketers/529870/
- https://medium.com/trapica/the-effect-of-live-streaming-on-digital-marketing-fedcdecce3be
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- https://blog.pixalate.com/connected-tv-ctv-ott-ad-supply-trends-2019 https://www.nielsen.com/us/en/insights/article/2013/just-do-it-consumer-trust-in-advertising-and-willingness-to-ta/
- https://www.emarketer.com/content/us-digital-ad-spending-2019
- https://sparklightadvertising.com/will-your-small-business-benefit-from-commercials/
