95% of Brand Execs Will Prioritize Live Video in 2018
On February 6 2018, Elon Musk had his Tesla Roadster with its dummy driver, Starman, launched into space.
Two months later, the live video of the Roadster’s journey is still being watched-- 400 pairs of eyes are following Starman through space at this very moment.
With this level of engagement possible, it’s easy to see why brand executives are focusing in on live video this year. A study released today by Brandlive and IBM Cloud Video found that nearly 95% of brand and retail executives say live video will be an important part of their marketing strategy in 2018.
The current push to provide a personalized and unique experience for your potential customers is not lost on marketers. Customers are increasingly ignoring traditional ads, whose blatant sales motive and total lack of human interaction make them easy to disregard. Many of those looking to optimize their digital advertising budgets are looking to live video as a cost-effective approach that also promises a high ROI. Live video offers the greatest benefit for customer and employee engagement, with 59.5% saying it brings a human element to digital marketing, 56.9% saying it engages consumers better than social media and 43.1% reporting that viewing time has increased.
It’s not just about drawing consumer eyes, though-- using live video to train salespeople and associates is one of the top use cases for ROI, the study found. There’s no doubt that live video means elevated engagement levels, and using it in-company to provide more personalized training and foster human connections is likely to improve employee performance. In the past year, about half of the executives said they had used live video to train retail associates, salespeople and customer service representatives.
Research by Magisto showed that in in 2017, companies were are on target to spend $135 billion on online video, almost 2x as much as they planned to spend on TV spots and 1.5x the $83 billion planned for digital ads. "It's not enough to just use live video somewhere in your enterprise, it's becoming more like 'how many use cases can you find to apply live video' in your company," Fritz Brumder, Brandlive CEO and co-founder, said in a statement.
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