“Most of the content 10 years ago was text, and then photos, and now it’s quickly becoming videos. I just think that we’re going to be in a world a few years from now where the vast majority of the content that people consume online will be video”
Visual information transmitted to our brain is processed 60,000X faster than text. So it is hardly surprising that 51.9% of marketing professionals worldwide state that video is the content with the best ROI. Live streaming video increases online engagement and interaction with your audience in real time. Real-time video allows brands to instantly provide reliable, transparent, and honest content to their consumers.
The impact of online video
According to Dr. James McQuivey of Forrester Research the value of a one minute video is equal to 1.8 Million Words (that’s around 3,600 pages of web content!). By backwards engineering this, we see that a Content Manager would need around 5 months to write enough to have the same impact as a one minute video!
The growth of online video
More than 100 Million Internet users watch online video each day and 90% of online shoppers said they find video helpful in making shopping and buying decisions. Moreover, buyers who view video are 1.81 times more likely to purchase than non-viewers. In general 85% of website visitors are more likely to buy a product on an online retail site after watching a video, and 26% looked for more information about the subject of the video.
An onsite video should offer customers real value, be informative, engaging and entertaining. Vidyard advise that 74% of brands said that video content produces better conversions than any other form of content. According to Facebook, video is 152% more engaging than posting a text and image status update.
The emergence of influencers
Today YouTube Stars are more popular than Mainstream Celebrities. The video platform has captured the minds of today’s internet users. Influencers have significant impact on a particular demographic with content focused around niche interests. A prime example is Felix Kjellberg who has reached 44 million subscribers on Youtube and has an Oprah effect on the video games that he reviews. He is now considered one of the 30 most influential people on the internet by Time magazine.
Measuring the live streaming video engagement
♦ 1275 years of video watched every day on Youtube
♦ 40 years of video watched every day on Periscope
♦ Monthly Active Users: Youtube has 1 billion and Periscope has 2 million
♦ 15% of companies that use Twitter are already using Periscope
♦ 93% of consumers see real time help as being beneficial during their online customer journey
♦ Facebook state that live video engagement is 3 times higher than recorded video.
The biggest challenge for live streaming video engagement is that in order to really benefit from broadcasting, companies need to have a significantly sized audience at the exact moment of broadcast (which typically lasts a couple of hours). Whisbi on Air is the only live video solution that audiences can tune in to at anytime during the broadcast.
If you enjoyed this post then you might be interested in reading about how retailers can sell more with live video.