In the immensely spread internet space, streaming live content creates real-time engagement and expands business reach. By proactively engaging businesses with their prospects, live video streaming functions as a communication bridge between the enterprise and customers. Live events maximize user participation in quizzes, Q & A, polls which are not possible in the case of offline events.
To maximize the benefits of live streaming, businesses should start tracking each live streaming performance. Live streaming metrics offer a clear report on the performance of the live stream.
Let’s have a look at some of the main live streaming metrics you must start tracking now-
1. Track device viewership metric for improving user experience –
Video streaming in mobiles and OTT devices have become the new normal for the current generation. Knowing the device in which your live video is played can help businesses improve their UI, device compatibility, and streaming quality for a better user experience.
2. Repeat traffic tracking can lead to conversions –
By tracking your live streaming event, it becomes possible to determine whether the traffic is returning for the next event or not. This metric is helpful towards analyzing live streams in which the content is monetized through Pay Per View or sign-ups.
3. Watch time tracking determines the live stream engagement-
The more people like your streams, the longer the watch time. Watch time metric gives information about how long your live stream has been watched. This metric works best towards knowing your potential leads. If a viewer’s watch time is the maximum, undoubtedly, he is interested in your business and has the highest potential to get converted into a lead. Based on the watch time, businesses can categorize events that are successful in generating engagement and events which need rework.
Also read- How to Improve Live Streaming Latency?
4. Track Viewership location for geo-targeting advertising –
Viewership location metrics can be beneficial towards tracking the location of viewers. Location tracking mechanism works on IP addresses and can identify the exact country/city from where the live stream is watched. By this, businesses get to know the location where audiences are interested in services and accordingly pitch in an advertisement campaign for that location.
5. Revenue Tracker to keep a watch on business revenue generation –
Monetizing live streams is essential for businesses to generate revenue. Today in the live media streaming industry subscription-based, advertisement-based, and pay-per-view methods are used to generate revenue. In determining the effectiveness of monetization models, it is necessary to track live stream revenue metrics. It enables businesses to get data of the total revenue generated, sales by location, and each live stream revenue collection.
By referring to the revenue tracker metric, a business can decide the monetization model that suits it the most.
Also read : Why is Live Streaming a Must-have for Marketing?
Benefits of tracking live streaming metrics-
Live streaming metrics give you the report on end to end performance of your live stream. By tracking streaming metrics, businesses are getting to know which type of live streams are creating the highest revenue, engagement and can plan marketing strategies for future live streams accordingly.
Starting from deciding the most profitable monetization model to knowing the annual revenue growth, total numbers of registration, live media streaming attendees and live-streaming analytics has made real-time streaming monitoring far easier and more transparent than ever before.
The ascendancy of live streaming has made businesses capable of reaching globally and elevating the revenue generation flow. By adding analytics to your live streaming business, grab the long-awaited business targets. So how to get started with live stream analytics. There are several live streaming platform providers available in the market, but partnership with a professional enterprise-grade live streaming platform provider like Muvi Live can boost the business performance instantly.
Muvi Live understands the business requirements and offers enterprise-grade secure and fast live streaming services. To expand your live video reach, it allows you to embed your live video to any third-party platform.
Muvi Live makes it way easier for businesses to start their live stream. You just need to share your feed and Muvi converts it into different formats which are delivered to a global audience through a content delivery network.
Muvi Live analytics is dedicated to helping businesses to track their live stream performance and future live video streaming marketing. The advanced analytics supported by Muvi Live includes revenue metrics, Users matrics, content metrics, and user action metrics.
Muvi Live also helps in monetizing live videos and business events with the help of monetization models like Pay Per View, Subscriptions, and Advertisement.
So without further ado, sign up for a 14-day free trial of Muvi Live and start live streaming.