It can be said that livestream is developing as a new form of radio thanks to its ability to reach readers anywhere with the internet. Whether large or small, live video streaming is bringing tangible value ​​to businesses.

How does Livestream create a competitive advantage for businesses?

In the period of 2019 – 2020, social networks exploded in the form of live broadcast videos, and the visual benefits of livestream are continuous closing orders. In other words, livestream has helped digital transformation in just a few hours of live streaming – something business owners always expect to gain from marketing activities.

  • Research from Livestream and New York Magazine shows that 80% of audiences prefer live video over blogs, while 82% prefer watching live video over reading text content.
  • Drive your target audience to action (CTA: call-to-action). For example, videos embedded in emails double or even triple the rate of visits compared to other content links. Nearly 40% of executives call a supplier after watching a video. On top of that, livestream video costs less than TVC, easily guaranteeing a return on investment. Around 73% of B2B businesses use live video to reach their target audience
  • Increase Conversions: The ultimate goal of marketing is to drive sales and conversion rates. Livestream increases sales intent among the target audience by 97% and strengthens brand association by 139%. Those are some of the immediately visible benefits. Video content that is consistently pinned to the top of a landing page can increase conversions by 80% or more, while 64% of users are more likely to buy a product online after watching a video.

Livestream is suitable for all sizes of businesses

SMEs are the businesses that are using livestream to sell the most on Vietnamese social platforms. However, livestream can also be used for a variety of different content for many different sizes of businesses.

For example, from June to October 2019, ACECOOK launched a summer promotion in the form of a lucky draw. With the challenge of making the brand’s campaign transparent and not misleading to customers participating in the dial, SKYPERRY accompanies and proposes a livestream solution on the brand’s official social channel. Thereby creating a cross-communication channel to promote from MT channel to TV and social media.

After 4 months of implementation, SKYPERRY and ACECOOK generated more than 50,000 organic reach per broadcast, 8 times higher than before. At the same time, there are absolutely no negative comments about the brand’s program.

Another case is using livestream combined with influencer marketing. At the end of 2019, Cho Tot brand wants to increase awareness for the Job Search section on the channel by collaborating with Influencers. SKYPERRY has worked with the brand to build a content strategy that incorporates livestreaming into the message delivery process. The agency first selects influencers from different fields to livestream telling their stories about how to recruit employees using the Cho Tot app on social media.

SKYPERRY execute the shooting scenes that are suitable for each of the KOLs’ lifestyles, to emphasize the reliability of the needs and create scenarios with interesting storylines. The campaign brought an average of 30 calls/ 1 KOL livestream, 15000 views/video and 20% registrations via KOL’s comment section.

With the rapid increase in the number of online broadcasting platforms, it is expected that by the end of 2027, the value of this industry will reach 184.3 billion USD.

Here are some forms of livestream businesses can use:

1. Face-to-face interview

In product launching events, the form of direct interviews with experts and passersby speaking about the product helps to increase the prestige level of the business. It also increases brand awareness for both viewers and interviewees

2. Live Q&A

This is a highly effective tactic to share expertise on a topic, generate leads, and increase engagement. A perfect blend of sales, educational and entertaining content at the same time.

3. Promotions/Live Tutorials:

In addition to being easy to organize, a live product video can increase traffic for all goods and services, increasing sales conversions. Including a special offer in a live stream will encourage viewers to take immediate action. This is a popular form today when society is implementing isolation 

4. Direct product launch:

This is an effective form that will increase your sales immediately. Some of the top brands have this tactic, including Apple, Honda, and Google.

5. Online training and learning events

Under the influence of the epidemic, currently, large and small learning and training events also tend to partially or completely shift from offline to online. If the business owns products that need detailed instructions to customers, this form can be developed into long-term training courses in machine use and technology at a lower cost than offline organizations. From personal livestream videos to professional broadcasts of major brands are reaping the benefits of this form of content. With Live Streaming, brands create an intimate connection in real-time with the audience, with the support of media distribution platforms, anywhere can be a broadcast location.

To build a successful livestream will need many complementary factors, in addition to building content that is attractive and consistent with the goals set by the business.