Many businesses hesitate to host an event live stream. Although they understand the benefits of learning how to live stream an event, they are hesitant to alter their marketing plan. Is your brand facing the same dilemma?
Live streams can actually generate just as much profit as events. If your business has yet to live stream your event online, keep reading. Let’s dive into the power and importance of live event streams in your experiential marketing strategy.
Why Host an Event Live Stream?
Valoso has already covered this topic extensively in other blog posts. The benefits of live streaming are clear. Your brand can host an interactive event to a global audience for a significantly lower price than an in-person event.
- Live streams improve brand perception. They brand your company as modern, especially when you take advantage of a mobile live event streaming app like Periscope.
- Live streams boost sales. According to Livestream, 67% of viewers buy a ticket to an event after watching an event live stream.
- Live streams increase interaction. With a regular promotional video, you cannot interact with your audience in real-time. Live streaming opens up this door.
- Live streams are trendy. Following trends can boost almost any brand’s standing. Following the live stream trend and adding your own touch is great for branding.
And finally, live streams can boost profits, both directly and indirectly. Indirect live streaming profits come from a variety of outlets. First of all, live streams open the door to event sponsorships, content syndications, and other business partnerships.
Of course, live streams improve brand perception and recognition. Especially on public platforms like Periscope, they increase your exposure to your target audience.
All of these promotional efforts can lead to increased brand loyalty and more sales for you. By promoting your events in live streams, your audience can be exposed to what you have to offer—then it’s up to them to take action on it.
This aspect of live event marketing is essential to build the foundation to a successful company. But, many businesses don’t understand that live streams can also generate immediate, or direct, profit, just like any other event.
6 Ways to Make Money from Event Live Streaming
Before the event…
1. Sell tickets.
Events can be paid or free, and the same goes for any event live stream. When promoting your upcoming live stream, you can sell paid tickets to the digital event. Platforms like Eventbrite allow you to sell tickets to upcoming events. Make sure to specify in the event description that the ticket is for the live stream, not the actual event.
You can also sell premium tickets, offering free viewership but exclusive behind-the-scenes footage and corresponding worksheets to premium ticket buyers. Furthermore, you can show your event live stream for free for the first 5-10 minutes or so to hook your audience. Then, charge viewers if they choose to continue the live stream.
2. Offer pay-per-view.
Many event live streaming services, such as Cleeng, offer pay-per-view options for the broadcaster. These services also allow you to better target certain demographics to improve viewership. Pay-per-view is similar to ticket selling but does not always require previous reservations to view a live stream.
If you want to better distinguish your event live stream from your actual event, pay-per-view may be the best option for you. Selling subscriptions to regular live streams is another way to generate direct revenue. However, you must produce regular live video content to build a subscription base.
During the event…
3. Sell to viewers.
Instead of promoting your product during the event then waiting for sales after, sell your products directly on live event streaming sites. Give viewers a way to access your product or service for purchasing. Make it easy for them to buy right then and there.
Offer coupons during the live stream and make these coupons available only during the duration of the live stream. During the live stream, you may also want to pause to pause to allow viewers to go make their purchases. Remember, don’t oversell yourself. Focus more on developing your relationship with your audience during any live stream event.
4. Use advertising and affiliate marketing.
Live event streaming on YouTube in particular is an effective way to get affiliate sponsorships. Affiliate partnerships can be developed from existing business relationships. Or, you can find new partners on affiliate marketing platforms and social networks.
Ads are the traditional method of getting quick cash from any video. During your event live stream, you can present ads in return for revenue from advertisers. Make sure the advertisers match your target audience. You could also include this perk—no ads to viewers who purchase a premium ticket!
After the event…
5. Sell the recorded broadcast.
You can continue generating direct cash flow from your live stream even after the event. Consider selling the recorded footage of your event live stream. People who missed the event would be interested in purchasing the live stream at a later date. Or, at your event you can promote the footage to guests in attendance.
If you make your event worth attending, people will want to remember the experience. Of course, be sure to use a live streaming service that can record the footage instead of only streaming it.
6. Stream it more than once.
Even with the same event, you can stream the live footage more than once. Those who were unable to attend the event might enjoy having a recap or after party afterwards. You can re-stream your live video a day or two later, charging half-priced tickets perhaps, to continue generating revenue.
If you have a successful event, you may have more people wishing they had attended. Be sure to create a promotional video after the event to encourage followers who missed the event to attend the live stream at a later date. you Live streams are among the top ten most popular types of events for 2018:
Follow the event live streaming tips above and you will be well on your way to success. A profitable live stream can give a business the extra boost it needs to further its digital marketing campaign.
If you need an extra hand in your event marketing strategy, Valoso is your go-to partner. Our team of professionals are waiting to hear from you, so visit our homepage and fill out the contact form to get in touch!