Streaming live is an excellent way for businesses and brands to interact with their audience. It can include speakers in the education industry, gym trainers, and personal brands.
The paper uses a multi-method approach to investigate the impact of live streaming on consumer purchasing intentions. The results show that expertise, post-sales services, and bargaining power mediate the influence of online influencers on consumer purchasing intentions.
Increased sales
Live streaming has become a popular hobby, marketing tool, and career path for content creators. Globally, 548 billion hours were spent on mobile live-streaming apps in 2020. More and more people are connecting with their audiences virtually, from esports to cooking classes to video games and even live-streaming town hall meetings.
Live-streaming allows a business or event to reach an audience that may not be able to attend in person for various reasons, including geographic location, age, or medical limitations. In addition, allowing an audience to participate in a live stream is engaging for viewers, leading to increased retention and engagement. It makes a live stream more likely to lead to a sale.
For example, a fashion brand that hosts a live stream for its latest collections can sell its products directly to consumers through the platform. It helps reduce costs and can help maximize profits.
Interacting with a live audience through a voice channel also allows businesses to create a more personalized and engaging experience, increasing the perceived value of their products and brand. It, in turn, can lead to higher customer satisfaction and loyalty.
Increased customer satisfaction
Live streaming is a real-time video platform like Agora.io where customers can watch content or products. It enables businesses to create unique customer engagement experiences, which can help them attract more potential buyers. Live streaming can also improve customer satisfaction by allowing customers to interact with broadcasters and other viewers. For example, live streaming lets customers ask questions, vote, donate, and buy products.
Unlike traditional e-commerce websites, live streaming enables businesses to connect with their customers more naturally and engagingly. In addition, it can increase the number of sales and customer retention. Some brands are even using live streaming to promote their products.
Consumers can use live streaming to purchase products from merchants and receive after-sales services from streamers. This online shopping form is called live-streaming commerce (LSC). In LSC, consumers communicate with streamers directly and make decisions about their purchases using the information they receive from the streamer.
Increased employee engagement
With today’s technology, live streams can be interactive. People can watch, chat, like, contribute, ask questions, vote, and donate, all in real-time. It creates a more dynamic experience for viewers and can boost engagement levels.
A live streaming platform can also be used for internal communication. It can allow employees to comment on leadership announcements or discuss issues affecting a particular department or company. This type of upward communication can make it easier for leaders to address concerns and ensure everyone is on the same page.
Livestreaming can also be used for education and training. For example, a business could stream a virtual cooking class to teach employees how to prepare a dish or product. It can help them improve employee productivity and retention while boosting brand awareness.
Similarly, healthcare organizations can broadcast surgery and procedures via live streaming. It allows doctors to connect with patients and the general public more personally and can help them answer questions from viewers in real time. It can be beneficial during health crises, such as the COVID-19 pandemic. Lastly, live streaming can be used to broadcast significant public events. It can allow public officials and political candidates to interact with their audience more naturally, increasing their credibility.
Increased customer retention
Unlike traditional on-demand video content, live streaming allows users to interact with the brand. It also provides a better customer experience. It will enable the audience to ask questions, participate in polls, or engage with the brand in real-time. It can lead to higher engagement rates and more brand loyalty.
The live-streaming market has grown exponentially over the last decade. It’s now a global industry that is expected to grow even more. Technology is gaining popularity as people seek more personalized and engaging experiences. It includes everything from livestream e-commerce to virtual reality concerts.
Public officials and politicians have also used live streaming to conduct town halls. It allows them to connect with the public more personally and gives them a sense of empowerment. Additionally, the audience can interact with the speaker by asking questions, which helps increase credibility and trust.
Finally, live streaming has been a powerful tool in music. It has allowed artists to bypass the record labels and broadcast their music directly to their fans. It has recently led to some of the most popular musical hits, including those recorded in a teenager’s bedroom using cheap equipment.
