Social Experiment

The Science of Social Media

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The Secret To Increasing Your Income With Live Streaming–Give Your Audience What They Want!

The noise online…it’s deafening. So many brands, so many products, so many services–how do you get heard in a marketplace with so many competing choices?

There are more than a few marketing experts who will be happy to show you how to sell your wares online. Every one of them has a different approach, each arguing their solution is the only one. And while each approach has its success stories, each also has its failures. Live stream video is no different. For each influencer, there are many who weren’t able to make the transition to successful broadcasting.

But is it the medium? Did live stream videos fail or was it the approach of the salesman? Was there a disconnect between the aspiration to sell and the approach to the sale? When it comes to live streaming, just like social media, there has to be some thought as to what you are selling, and how.

We know live video is more appealing to audiences–80% of online viewers say they would rather watch live video from a brand than read a blog.* Think about it–if you’re a blogger or use a blog in your marketing strategy–80% of those following you or who may want to follow you would rather see you live stream your blog content than post it for them to read.

And even more, 82% say they would rather see live video than a social post.*

So the first thing to do is listen to your community. If they tell you they want live video, like they have with these statistics, believe it’s true and give them what they want. Don’t continue with an approach that no longer works or “always worked in the past.”

Let me give you an example; when I worked for Green Giant we produced beautiful 4 – 7-minute recipe videos we taped in high concept kitchens with a celebrity chef. We housed the videos on our website and on our social media platforms. They were extremely successful for several years, and then something happened–Tasty videos.

Tasty came out with videos a minute long or less, with no concept kitchen, no celebrity chef, none of the glitz and glamour–simply a video showing the ingredients being put into a bowl, cooked, and a final product shot. And our followers started telling us our videos were too long. The market shifted and we had to make massive changes to our strategy. You have to be ready to make those changes when needed.

Then before you begin to stream, take a look at what you’re trying to do with the strategy. Ask yourself this question;

Are you selling something everyone is already familiar with where the customer has to switch, or do you have a product they’ve never purchased or considered before?

Think about it this way. If you’re selling ketchup and you want to convert prospective customers from buying Heinz to buying your brand, you’ll need to overcome their loyalty to “their” brand to convince them to buy from you. It’s a completely different strategy from showing, convincing and converting customers to a product they have no presumptions about.

For instance, Apple selling their iPhone back in 2007. No one had anything like it, there was nothing to compare it to–the pitch was a completely different approach because you weren’t overcoming preconceived notions. You were convincing viewers they couldn’t live without something they were currently living without.

While each of these has it’s obstacles to overcome–those things you must keep in mind, you could approach them the same way. Let me show you what I mean.

First, communicate the state of the product now–what does it look like, how does it work, etc. Or the lack of the product if there is nothing like it on the market.

Then communicate how the new product or service could improve their life–what could the customer gain with your “better product”? How would you improve their life with your product?

Overcoming the emotional investment they have in a product they already purchase must include a compelling argument to switch. Likewise, if it’s a new product, you’ll have to paint an irresistible picture of what it could mean for them.

Finally, show them a new normal with your product or service. What solution would you provide and how would it brighten their life? What would this new world look like?

This pitch is so much more effective via live video than in blog form–providing a platform to include arguments, examples and live Q&A from your audience.

Then finish the live video out with a call to action. What do they need to do? What is their next step?

So what in the world are you waiting for? Your customers are clearing telling you video is the way to go, it’s up to you to use it to convince them your products are what they are looking for.

To learn even more about how to use live stream video to increase your income, visit us at SocialExperiment.net or join our live streaming group, Live Stream Life on Facebook.

*Statistics sourced from LiveStream.com. 

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