Live streaming has potential to be more than novelty
Not too long ago, Twitter was also derided
Madonna is doing it. So are Jamie Oliver, Jimmy F-allon and Arnold Schwarz enegger. Even the new royal baby has gotten in on the act.
In the span of a few months, live streaming — broadcasting video to the w-orld from your smart phone — has gone from obscurity to mainstream. Competing apps Periscope and Meerkat (the former o-wned by Twitter, the lat ter now loosely integrated with Facebook) both allow users to do pretty much the same thing: push a button, alert followers and start streaming live video.
E-ach app has its vir tues and loyal adherents, and I won’t wade into that debate here. However, I think I can shed light on a more pressing question: Do these apps matter for businesses and if so, why?
Early evidence is mixed. In March, the hashtags #fridgeview and #showusyourfridge began trend ing, as a wave of Periscope users rushed to broadcast t-he contents of their re frigerators to the world, which isn’t must-see TV. But increasingly, users are sharing live glimpses of major events — from the B-altimore riots to the May weather-Pacquiao “fight of the century.” Meanwhile, brands such as Red Bull and Mountain Dew are t-esting the waters, reach ing out to followers with live concert videos and behind-the-scenes looks at products.
At Hootsuite, we’ve begun exploring ways to u-se live streaming to con nect with users and customers. Here are some early observations on the apps’ potential: Transparency and com
munity building Once a week, for the past month, I’ve invited the world to a- live Periscope broad cast in my office. So far, thousands of people have t-uned in to ask me ques tions about Hootsuite and the state of social media. At times, the commentary and questions stream by so fast, I can hardly keep up.
This live streaming is valuable primarily for its i-mmediacy. I get unmedi ated, real-time input from customers, stakeholders and people interested in social media. Yes, some commentary is off topic, but most is relevant, even eye-opening.
Meanwhile, viewers get to know me and put a face to the company. There’s a surprising level of connection and trust in a Periscope broadcast. Because the video is live and unedited, with no second takes, there’s nowhere to hide. Admittedly, this kind of vulnerability isn’t for everyone. But for the right person, it’s an excellent way to build rapport with customers and humanize a company.
This same immediacy and authenticity could also prove valuable in a crisis communication scenario. In the event of a product recall, service outage or other crisis, a live-streamed broadcast with running questions and comments from users could go a long way toward reassuring customers their business is valued and the company is in control of the situation.
Marketing and promotion This March, millions of people watched online as Apple unveiled its longanticipated smartwatch at a live event called Spring Forward. As the Apple brain trust realized long ago, a live product launch, w-ith all the unpredictability and drama that go along with it, makes for great marketing.
Spring Forward was a slick broadcast, not a live stream. But with Meerkat and Periscope, startups can tap into some of the s-ame energy and excite ment when unveiling new products or just sharing company news.
A-t Hootsuite, for in stance, our social media m-anager has started offer ing a weekly peek inside our company via Meerkat. H-e tags along each Mon day as new employees are g-iven a tour of our head quarters, from the various company departments to the gym and even the yoga room.
Viewers tune in and comment as he introduces key employees, shows off s-ome of our dozen or so of fice dogs and offers a live, running commentary on life here. Our audience for t-hese tours is in the hun dreds, not the millions. However, live streaming h-as offered a new chan nel to highlight workplace culture and help with our e-fforts to recruit top can didates.
It’s worth pointing out that, not too long ago, Twitter was also derided as a novelty app for sharing updates on food. Today, it’s a- crucial tool for network i-ng, promotion and adver tising, valued at more than $30 billion. The business-use case for Meerkat and Periscope is still evolving, and it’s likely their real value will only become clear in the months and years ahead. But it’s safe to say live streaming won’t be limited to peeks inside refrigerators for long.