Your audience’s media diet is always changing, and your marketing strategy should change with it. Live video has come into its own as a major player in the event marketing business. And it’s easy to see why: live video is the newest expectation of event audiences everywhere. Viewers spend 8X longer with live video than recorded video. And video rewards brands with a 97% increase in intent to buy. As promoters compete for eyeballs in social media newsfeeds, live video is a key differentiator.
Investing in a live video strategy can have real impact on your bottom line. Let’s take a look at what’s driving the growing trend of live video — and why you can’t afford to ignore livestreaming if you want to grow your event.
Audiences Expect Live Video
Live video can have a far-reaching impact on your brand’s performance. This is true whether your customers are individual consumers or executives.
As millennials join the workforce, they expect live events to be accessible. Event marketers can’t afford to isolate this key demographic. By 2020, 46% of the workplace will be digital natives — meaning they grew up using computers and the internet. This expectation isn’t limited to young, entry-level employees. Live video attracts executives as well: 59% of executives would rather watch a video than read text, and 39% of executives call a vendor after viewing a video.
Adding a live video element to your event lets viewers join the conversation from anywhere in the world. Brands like NewsCred and the Paley Center for Media have seen their event hashtag become a trending topic via their conference livestream. Be sure to leverage your hashtag across social platforms to keep your physical and digital audiences in sync.
Today’s Viewers are Tomorrow’s Ticket-Buyers
Streaming your live event isn’t only a best practice, it’s a necessity. A thousand viewers this year could be a 100,000 viewers next year. From small seminars and performances to massive conferences and concerts, you can reach your audience wherever they are.
But for many event marketers, growing online viewership takes a back seat. They’re worried that a livestream will have a negative impact on in-person ticket sales. Why would an attendee come to your venue, when they can stay in and watch at home? These concerns are understandable, but often inaccurate. Contrary to popular belief, livestreaming your event can increase ticket sales.
A reader survey with New York Magazine revealed that 67% of viewers are more likely to buy a ticket to a concert or event after watching a similar event’s live video.
Global fitness phenomenon Tough Mudder started streaming their events in 2012 — and unlocked a formula for growing revenue. “We’re getting millions of people coming to our website every month,” said Jesse Bull, SVP Brand and Creative at Tough Mudder. “We can give those people something beyond a ‘Buy Now’ message,” he added. “[Viewers] can experience that live content, and it really helps drive them down the funnel, ultimately getting that ticket sale. It’s a great marketing approach to be able to add that kind of content to our site.”
Going Live is Easier Than Ever
Live video is a flexible medium, and the technology is always improving. The barrier to entry is lower than ever. You might not be sure how much to budget or what equipment you need, but Livestream can help. Our video Budgeting Guide breaks down the costs of live video and what equipment you’ll need.
The guide outlines different use cases for a changing landscape and real data from our customers. As you begin researching a live video strategy, our guide is a great place to start. With infographics and pricing breakdowns, you’ll be ready to go live in no time.
