Marketers seeking to communicate with their customers and online communities are finding that live online video is one of the most effective engagement tools available.
Based on research conducted by Wainhouse in Q4 of 2013, a survey of 1,007 executives found that live video is a catalyst for increased productivity and improved brand image.
Improved live video technology, more powerful and reliable Internet connections, and increased accessibility are all attributed to the increase in popularity and usage of live video.
Data from the survey shows that more than half of organizations surveyed plan to expand their use of video on corporate websites in 2014, and that live video is an effective way to generate sales leads and acquire customers. Coupling the power of live video with social interaction components has the most powerful effect in generating conversions from online conversations.
Live video’s influence on corporate branding and promotion will increase sharply as its popularity grows. An estimated 1.12 billion hours of live online video content was viewed in 2013, and is forecasted to more than double by 2016. Because of the one-to-many nature of live video marketing communications, a single marketing event can draw hundreds or thousands of viewers simultaneously, creating a social environment that can’t exist with pre recorded video.
Research shows that live video is currently most utilized for companies for employee training and executive presentations, but the potential for growth lies in outward facing live video content. Because consumer-facing content is easily shareable, public live video events have the most potential to go viral and stands to create the most value for companies in their video marketing strategy.