Whether or not you’ve actually used live streaming to promote your business before, there are plenty of reasons why you should start using it as a way to increase your revenue.
- Videos, and live videos in specific, are taking over as the most engaging types of content, making them something of a goldmine if used correctly.
- To capitalize on your live streaming, you need a certain amount of preparation and equipment to produce quality content.
- Any business can stand to increase their bottom line through live streaming; it’s just a matter of leveraging your following into a steady income.
Not only have live videos proven to be the most engaging form of content on the internet, they’re also incredibly easy on the budget. With as little as a decent smart phone (to start with), some preparation, and a social media platform, you can increase your audience engagement, grow your reach, and improve your sales.
But to really capitalize on your live stream content, you may require a more sophisticated approach and set of tools. Here’s what you need to do to get started.
Offer Value To Your Audience
Live streaming is easy, which also means that anybody with a camera and a social media account can do it. If you’re going to capitalize on your videos, you’ll first need to make your content stand out from the rest and entice your audience by offering some value.
This can be something as simple as a behind-the-scenes look into your business operations, or something as elaborate as an interview with your industry’s top leaders.
Whatever you choose to go with, make sure you’re offering the type of value that will interest you target audience. For example, if you’re a digital marketing agency, you can offer your viewers training videos on specific industry topics.
Other ways to attract an audience is to live stream from exciting events, host Q&A’s, or even conduct giveaways during a live broadcast.
When in doubt, ask your audience what type of content they would like to see most and listen to their suggestions. This way, you get to engage with your audience and give them the information they directly asked for.
Don’t Underestimate The Importance Of Preparation
Regardless of how elaborate or simple of an approach you take, you’ll still need to put in a certain amount of preparation if you want to create engaging and valuable content.
Live streams should be natural and improvisational – but only to a degree. Truthfully, you can’t expect to just wing it and come up with a video that your audience would pay to watch.
Even if you consider yourself a genius with a camera, it’s helpful to have at least a basic game plan for what the video is going to cover. If there are multiple people involved, make sure they’re on the same page before getting started.
Think outside of the box, but don’t worry, your live stream doesn’t need to be overly sophisticated or clever to attract attention.
Use The Right Equipment
You may not need much to do a basic live stream, but an elaborate approach can actually require a fair amount of technology and equipment. For starters, you’ll need a decent camera and a computer with a fast internet connection.
You’ll also need to invest in a tripod to keep your video steady, as well as a microphone to record better quality audio than your smartphone alone can allow.
Depending on your budget and approach, you may also invest in live streaming software to elevate your video production even further with features such as multiple camera integration and lots of added control in terms of audio and visual effects.
Likewise, depending on your level of ambition, you can choose to go with a simple social media platform to broadcast your live stream, or invest in a white label service to brand your content and feature it on your own website.
Ways To Generate Money
All of this effort only leads you to the final challenge – generating an increase in your income. The good news is, once you garner a following, there are many ways you can approach making money through your live streams.
Running advertisements is a simple and advantageous approach, since many viewers prefer free content with advertisements over subscription-based models. But that doesn’t mean the latter won’t work for your business – in reality, a combination of approaches is often the winning method.
Other methods include, pay-per-view videos, sponsorships from other brands, and crowdfunding for donations through your live streams; all of which can also be combined with the above-mentioned strategies to enhance your chances of success.
Final Thoughts
We hope these tips help you generate engagement as well as some extra income for your business through live streaming. As with any digital marketing approach, it’s important to analyze the success or failure of your live streaming efforts and use that information to further evolve your approach over time.
Remember to go into the process prepared with a plan, and make use of the right equipment if you want to achieve professional-grade results. When using live streams to generate money, you may choose from a variety of methods, or combine them for a synergistic effect.