Product launching is a vital stage for any product development & go-live process. Your product launch has a significant contribution in determining how good the positioning of your product will be in the marketplace and the impact it will have on your target audience. Many a time, market players tend to struggle with making a product launch successful and reach the targeted range of audience. But, what many of them are yet to know is, the power of live streaming that can make product launch a huge success. Wondering how? Read on to know how to boost your product launch with live streaming.
Tips to Boost Your Product Launch with Live Streaming
Live streaming is no longer limited to sports & entertainment, but has become a marketing tool/strategy to launch products, promote features & updates, convey brand values, and whatnot! Statistics show that 86% of the businesses use video as a marketing tool, while 24% of the video marketers said they used videos for the first time in 2020. And now you will know how you can boost your product launch with live streaming.
1. Target the Right Platform with Large Audience Base
The most important step to get started with live streaming your product launch is- finding the right platform. Based on the type of your product, target audience demographics, and other multiple factors, you need to pick out the most suitable platform to live stream your product launch. You can simply follow these simple steps-
Find out the category of your product- SaaS/ gaming/ e-commerce/e-learning/ any other.
Define the target audience- their age, location, and other demographics.
Be well-aware of similar product launches that had been live streamed, what was the result, what was the audience response to it etc.
Based on your research, find a platform with a large base of audience. The platform with the largest base of audience may vary based on the type of product and live stream. For instance, if it’s a general broadcast related to product launch, you can opt for Facebook, Twitter, Instagram along with your own white label live streaming platform. If your product launch event is categorized as a strict business event then LinkedIn can be a good fit too, and so on.
2. Stream on Multiple Platforms Simultaneously
Your product launch is the first scope of creating an impactful impression and it is the first step towards marketing your product. No matter which platform fits your product launch event the most, you must live stream your product launch on multiple platforms simultaneously. This not only helps you in reaching a wider audience on diverse platforms, but also lets you utilize the features/advantages of the various platforms. Let’s have a look at some of the pros & cons of various live streaming platforms-
A Quality Live Streaming Platform
- Buffer free live streaming for global audience
- DVR-enabled live streaming to offer flexibility to watch to the users
- HLS link generation to let the viewers stream across multiple players, devices, and platforms
- Multiple monetization models that you may need for other exclusive live streaming events following your product launch
- Recording & sharing live stream across multiple platforms
- Analytics & reports on every live stream event
- You need to go through the process of launching your live streaming platform. However, with a sound live streaming platform like Muvi Live, it’s just a matter of a few days without requiring any coding/technical processes.
- It is free and hence cuts down your cost
- It’s the largest social media platform with 2.85 billion monthly active users worldwide
- People are more likely to watch video over Facebook than other social media platforms. Statistics say that 8 billion video views take place on Facebook daily, while 1 out of 5 Facebook videos is a live video
- No support for technical issues during live streaming such as buffering, blurry videos and other glitches
- Not so effective if you have audience from different time zones
- Opportunity to target your audience as well as stakeholders and business players that may come to your help
- Scope to grow your overall network through live streaming
- Apt to target investors, or stakeholders, business players etc.
- Lack of competitive benefits
- No proper tools
- Free to use
- Easy to target audience from diverse demographics
- The instagram live shows disappear after 24 hours
- More generic audience and not that suitable for niche product launching
- Twitter’s periscope supports 360 videos
- Suitable to target audience for diverse product launching
- Not a good fit for professional streaming of product launch
- Simple user interface
- Viewers can access the videos even after the live stream is over
- Free of cost
- Good in terms of SEO
- Lack of tools to live stream product launching
- Not enough to provide you with the required result from live streaming your product launch
- Not a good fit for professional & niche product launching
Similarly, every live streaming platform has pros and cons, but, on the upside, you must utilize all these platforms to optimize the reach of your product launch live streaming.
Pro Tip: Always go for a quality live streaming platform like Muvi Live, that will be dedicated to accommodate your every requirement. Furthermore, such a live streaming platform will also let you share your live stream across all the social media platforms simultaneously for the optimum reach.
3. Consider Interactive Live Stream
An interactive live streaming implies better viewer engagement that in turn helps in achieving higher conversion from the product launch itself. A few tips that always work-
- Ratings & comments to let the viewers give their feedback/opinion/reviews etc.
- Simple user login & authentication on your live streaming platform so that even more viewers can watch and engage
- You can also engage your viewers in Q & A, and other interactive sessions during the live stream
- You can offer early bird offer/discounts for the selected live stream viewers
Also Read: How to Earn from Live Streaming?
4. DVR-Enabled Live Stream for Product Launch
No matter how well-planned your live streaming is to target the largest audience from different time zones, there are always chances that many of your audience may miss out on important parts of your live stream. The solution is- DVR enabled live streaming so that the viewers can easily pause, rewind, and replay live streaming on any platform/ third party player.
It is highly recommended that you analyze every live stream event for product launch to have a detailed understanding of what you need to work on to make it even more effective. Always go for a live streaming platform that offers analytics & reports to let you have insights on important parameters such as user interaction/engagement rates, drop off rates, buffering time, viewers’ attention span etc.
Live streaming has become a popular means of boosting various product launches and marketing, business owners are opting for it at an increasing rate. As the competition has become quite strict, you must adopt a top-rated live streaming platform to make the most out of it and look for more exclusive solutions to keep you ahead of the competition.
Muvi Live, the enterprise-grade live streaming platform, gives you a compact solution for all the above mentioned factors making your live streaming easier, profitable and more effective than ever. Take a 14-day free trial today to know more (no credit card needed)!