People’s lives changed in more ways than one during the pandemic. Most of us were cut off from being able to do the things we enjoyed due to quarantine. This led to a large proportion of sports and entertainment fans to look for other ways to connect with their passion.
This is where the growth of the live events industry came into play. In a pre-covid world, most of the action happened in the physical world and any digital and streaming components were not considered enthusiastically or simply lacked creativity, resulting in ineffective audience engagement.
But of course, that’s all in the past now.
Here’s the current status:
Research has shown that close to three-quarters (74%) of marketers say that the impact of Covid-19 has made them more likely to use video in their advertising activity.
Advertisers across the world realized the power of live streaming and were forced to get their creative juices flowing and offer virtual components to reach their audience. One of the biggest benefits of this was that now it was possible to broaden engagement on a worldwide scale, instead of just focusing on in-person events.
When advertisers join hands with innovation, the possibilities are endless. A few brands, including Adobe, HBO, and Virgin, have created some compelling virtual content that unleashed the power of video to better connect with audiences in new creatively charged ways.
In these changing times, adapting is of utmost importance for any industry. It is clear that in a world where instant gratification has become an expectation, having a live video strategy is no longer just a novelty, but it is beginning to become an essential tool in the marketing stack.
Taking a deeper dive into the secret behind the growing popularity of live streams, here are 3 insights:
One factor behind the growth of video live streaming is enhanced technology, leading to improved experiences for viewers. For example, the Phoenix Suns basketball team teamed up with BlueJeans to provide an interactive “second screen” experience that provided new ways for fans to watch and engage with their favorite team and brands across the NBA. Using polls, chat interactions, “hand raises'' and other platform features during games, the live content included interviews with NBA legends and insiders, contests, and promotions for the Suns and its partner brands.
Brings fans and brands together
Livestreaming enhances advertising by building connections with fans, introducing a touch of humor, and creating a hybrid model that also uses physical elements such as billboards and live event activations. Livestreaming also has a high potential of successfully showcasing a product launch.
Enhances the shoppable experience
Brands are also using live video streaming to make the e-commerce experience more dynamic and entertaining for shoppers. In the UK, sports brand Ellesse launched a live-streamed shoppable TikTok concert featuring the musician Zara Larsson. This attracted the Gen Z and millennial crowd on a grand level.
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