Livestreaming from a GoPro: an easy way to boost ROI for your business
It won’t be a surprise to hear that today’s market is very competitive. Businesses are constantly searching for new ways to reach their audience and marketers strive to improve their content strategies for the same reason. However, if you run a business you also need to be conscious of two things: time and money. So, naturally, you have to ask yourself the following question: is it worth investing time and money to include livestreaming in your marketing mix? Our answer is yes! And in this article we will explain the benefits of live video streaming to Facebook using the LIVE4 GoPro app and how this tactic may improve your ROI from live events and business in general.
A few words about ROI
First of all, let’s understand what ROI is.
ROI, meaning return on investment, is a common ratio that evaluates the efficiency of your investment(s). It is estimated by dividing your net profit by the cost of your investment. This ratio enables you to gauge the profitability of many things in your business like equipment investment, pricing policies and even marketing strategy. Even though estimating marketing techniques’ value may seem tricky, the ROI from it is still quite a real thing.
How can businesses make money from live streaming?
There are multiple ways to ensure financial profit from livestreaming. In general, these can either be direct methods, such as pay-per-view or subscription options; or indirect methods, which usually are far less obvious.
Some of the most popular indirect methods for monetizing broadcasts include the placing of ads at the bottom of a stream, sponsored brand placement during a live session and revenue paid proportional to a website’s traffic.
However, not many people understand that live-streaming isn’t just a single use good, but a powerful marketing tool for generating long-term recurring sales. As we’ve already mentioned, livestreaming is a perfect technique for improving your business’ ROI, and here is what the stats say about it:
Livestreaming captures about ⅔ of global internet traffic – with this number expected to jump to 80% by the end of 2020
73% of b2b businesses report positive effects on their ROI from video content in marketing campaigns
Live video frequently leads to better conversions on retail websites
Companies using video get 41% more web traffic from searches
Native video uploads to Facebook have 10 times the reach of shared links on Youtube or any other streaming platform
Up to 80% of people are already watching live streams on Facebook regularly
However, you may now be asking how do you encourage your audience to watch a live session? Where should you stream to for your campaign to have the greatest impact? We’ve got the answers!
Which platform for livestreaming should you use or why LIVE4 recommends Facebook
You won’t be the first person to expect sales by the end of one month of marketing. However, keep in mind that this isn’t the case for most businesses. ROI takes time and a number of repetitive activities before you’ll notice the effect of your marketing.
Now that you’ve decided to include live streaming in your content plan, you may spend a long time choosing an appropriate platform for that. But why not make your life easier and just share it on Facebook? Here’s our few reasons why you should consider it for your broadcasts based on the experience and observations.
First of all, one undeniable thing that Facebook has, is reach. There are more than one billion active Facebook users from around the world, which means millions of potential viewers. It makes Facebook one of the best platforms for advertising, personal branding or building your brand’s presence. By using live video content you can reach tons of people and generate more traffic to your page or website.
Another reason why it is so good - no need to draw and grow your audience on a separate platform! One billion users are already there, which means it’s easier to advertise your stream within it.
Facebook always notifies all your followers and friends that your live has started, and even if they logged in after the end of it, they are going to see it in their feed and have access to it.
As for users’ behaviour, Facebook Live videos generate 3x times more audience engagement and on top of that, people spend 3x more time watching lives than regular videos!
After the live session, you can easily archive the stream on your page and continue getting views.
So how do you actually grow ROI from livestreaming?
Of course, it may be hard to picture the influence of livestreaming on your revenue stream initially. So for better understanding, imagine your business is selling tickets to a live event but also broadcasts it online. According to statistics, digital audiences of webinar-style livestreams are usually 20-70x times the size of real-live event audiences. This means that livestreaming taps into the vast viewership available online and extends your reach well beyond what was possible before.
Another proven fact is that almost 70% of people who watched a broadcast may purchase a ticket to a similar event in the future. And then this 70% may buy a ticket for the next real-time event. In other words, it is “snowball success”. And on top of that, get another pleasant bonus: promote your event even after you finish live streaming. Make full use of your old stream’s new views and convert them from one-time events to recurring sales and marketing tools. Watch your old content recruit new viewers for future streaming events!
And last but not least, when choosing a LIVE4 subscription, you only pay a small monthly fee and for that you can stream all you want! There are no additional payments for content posted to Facebook groups, pages or private accounts. Viewers can continually revisit old events at no added cost to you, so streams keep paying market access dividends while you pay nothing more! Plus, by allowing your viewers to watch live streams for free on Facebook, you will automatically reach out to even more people than if you charged per view.
Why choose LIVE4 for streaming to Facebook?
LIVE4 is the only solution in the market that enables livestreaming to Facebook from the widest range of GoPro cameras. No other app can offer that at the moment! Paying only for your subscriptions, at no added cost you can stream your live videos to public business pages and/or groups! Also, GoPro camera is a perfect option either you want to broadcast extreme activities or just a static picture. Although it’s prices vary, you still can find a relatively inexpensive alternative to regular webcams. Choosing a GoPro camera for livestreaming delivers a professional result as it has better quality than any existing webcam.
We are continuously working on app stability improvements and trying our best to ensure that all the important moments you stream are recorded and delivered to your viewers. If you have questions, concerns or ideas how to make LIVE4 better, do not hesitate to contact us at firstname.lastname@example.org or join the discussion at our facebook community page.