How Entrepreneurs Can Capitalize on the Streaming Boom
When you’re an entrepreneur, you have the freedom to pursue any tools necessary to build a profitable business. Among those tools is streaming, the ability to send video across the internet live or on-demand.
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Convenient Promotion
One of the reasons streaming has become so popular is because of its convenience. On-demand video gives consumers a lot more control over how and when they watch entertainment. It’s relatively easy to make, requiring only a camera (attached to most smartphones) and some basic editing software. Content can then be posted on your site, through a video-sharing site, or through social media.
On social media, a lot of entrepreneurs and established businesses rely on live streaming to promote their brand. Even if live-streamed, a lot of social media and video-sharing sites store them to be watched later by other viewers. Some sectors of the online business landscape, like iGaming, rely on stream audience interaction for their business model. For example, blackjack games at Paddy’s are streamed live to an audience who are there to play, with a host controlling the game and interacting with them. In other business models, going live and/or creating video content can help promote your latest venture while providing another avenue for customer outreach.
Video content can include announcements for upcoming events related to your business, how-to content/industry pointers, and demonstrations of how a product/service works. Live streams can also be used to provide interactive customer servicing or address feedback you’re receiving in real-time. By creating video content, you can also leverage video SEO, a form of SEO explained by Semrush here, that can help you rank higher with search engines.
Know Your Customers
Streaming or regularly posting video content is a great way to get to know your customers. Figuring out your average customer is an important part of starting any new business venture, as it’ll inform your marketing strategy in the future. Fortunately, getting in touch with your customers is easier than ever thanks to the internet and the many ways they can communicate with businesses they buy from.
Posting video content is one of the best ways to speak directly to your audience. During streams, you can field questions live and implement other interactive activities like polls. If the video isn’t live, there will still be a comments section attached to most video-hosting sites. Through that, viewers can let you know how they feel and discuss among themselves. In each case, they’ll provide market research for free and let you know how you are doing.
If the video is attached to a social media profile, you can build a community that’s oriented around your business or the wider industry. Some entrepreneurs prefer to build a community via social media before officially launching their business venture when they know there’s an audience waiting for them. Forbes has interviewed many entrepreneurs who focus on building a positive community that adds value to those who take part in it.
Source: Pexels
Until a new and game-changing technology emerges, video streaming is the best and most beneficial way for businesses to interact with their customer base. It’s also viable no matter the size of the business, so it’s great for start-ups and entrepreneurs who don’t have the capital for a marketing budget. Instead, it’s possible to drum up interest in you and your business with nothing but a free social media account online.
