Live streaming was the most prominent marketing trend in 2022, and it has firmly established itself as a mainstay in the global business landscape by 2024. Digital marketing has evolved as the hottest commodity of modern times, and the notion of video marketing has been selling like hotcakes. Previously, marketing channels were confined to print media and simple Word of Mouth (WOM) advertising. However, since the start of the 21st century, new marketing tactics have emerged. These include Business to Consumer (B2C) and business-to-business (B2B) strategies. Interestingly, the concept of video marketing has provided a significant boost to the B2C strategy for marketers.
In this Article:
What is Video Marketing?
Video marketing means that you choose to present a product or a service using videos on social media and other digital marketing platforms. While social media include social networking platforms like Facebook, YouTube, and TikTok, other digital marketing platforms include podiums like company websites, webinars, and email marketing. We see a lot of influencers and entrepreneurs online, actively running their businesses through an online store and promoting their products using product videos.
Important Stats
The stats also second our stance. According to Wyzowl, a platform that conducts surveys, about 85% of marketers in 2019 agreed that streaming video content is an effective way to gain consumer attention online. The impact of video as a marketing tool has only grown since then: 87% of businesses were using video in 2020, up from 63% in 2017 and 81% in 2018. As of 2024, that number has climbed to an impressive 91%. Interestingly, in 2024, the average user is spending 145 minutes daily watching online videos. Without a doubt, video marketing is gaining significant attention, and you can leverage this strategy using a short promo, a short video, online webinars, or a simple review.
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Convincing Powers of Videos
Another research by Wyzowl suggests that 84% of consumer groups in 2020 claimed they were convinced to buy a product or service after watching video advertisements. This trend has continued to grow, with 88% of consumers in 2024 stating that they’ve been persuaded to make a purchase by watching a brand’s video. The number of digital video viewers in the U.S. alone reached 258 million in 2024. As a result, Wyzowl estimated that 91% of marketing professionals use video marketing as a leading promotional strategy, primarily owing to the satisfactory ROI that video marketing generates for their efforts.
Colorful graphics, engaging animations, appealing characters, and the animated videos’ visually stimulating features help attract customers.
Moreover, incorporating a text to speech reader in your animated videos can further enhance accessibility, providing an alternative for viewers who prefer audio narration, thereby making your content more inclusive and engaging. So, it’s safe to say that exploiting video marketing can effectively develop product growth and product sales.
Video Marketing for Product Development
Now, you might be wondering that video marketing can surely improve sales, but how can it improve product development? Interestingly, video product marketing plays a vital role at every stage of product development:
Finding Customer Demands
The first step in product development is simply analyzing or figuring out what the customer wants, and this involves some brainstorming and a market survey. How live video marketing can help at this stage is relatively straightforward! You can launch a simple promo video or throw in a vague concept of your new product to assess the public’s response. Using that response, you can make the necessary changes according to public preferences.
Analyzing Competitor Strategy
The next step is to realize the significant players in the game and the competitors, and this step only involves a thorough analysis of the competitor strategy. Sometimes, rivalry can play an essential role in gaining public attention. You can launch a marketing video that abstractly answers the various confusions related to their product but does not mention them. In doing so, you could market your product by stating its significant pros.
Beta Testing Stage
Now, this is the ultimate game-changer. Let’s consider running a business of beauty products, and you need to review a new eye cosmetic product you developed. To assess public response, you can launch an unveiling video before rolling it out for sale. You can go live instantly, with your pre-recorded content or in real-time using any third-party app, and answer a few queries from your followers as well. For this, you need a tool to live stream any pre-recorded content on your channel. Realizing the need of the hour, OneStream Live offers a user-friendly solution for live marketing by providing OneStream Studio, pre-recorded, and real-time multistreaming services.
Product Launch
The final step is the product launch phase, where you must work smartly. The unveiling of the product can be done through adequately pre-announced scheduled live video streaming marketing so you can gain maximum audience outreach. Pick the most feasible time for your top buyers and go live while using the product. Alternatively, send in some gift hampers to the audience as well.
Read More: How can Businesses Use Live Streaming to Increase Sales
Conclusion
OneStream Live empowers you to make the most out of your live streams and actively interact with your audience in real time. Whether you want to live stream instantly from the browser using OneStream Studio, go live in real-time using any third-party app, broadcast pre-recorded videos, schedule a playlist of recorded videos, or embed your streams on your company website, OneStream Live is your ultimate marketing partner to enhance your business prospects. The Team Management feature allows you to manage your own team members to collaborate and stream more efficiently. Run through your live stream analytics and formulate your video marketing strategy accordingly. Leverage multistreaming on leading social media like Facebook, YouTube, Instagram, Twitter, and TikTok to make the most comprehensive mark on your target audience. Leave the technicalities to OneStream Live and focus on product development and product videos for marketing for ultimate success.
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