Just earlier this week Twitter had announced it had signed up with 16 networks including The Verge, Live Nation, Bloomberg Media and Buzzfeed to promote its new live streaming service. Airing live tv shows, concerts and sports 24/7 on people’s phones and on their computers. Through its new streaming service, it hopes it bring in new advertisers, raise revenue and draw in new users. But what does it mean for consumers and marketers?
After shutting down Vine and Twitter music, Twitter Live-Stream comes as a bit of a surprise, but it does make sense following Facebook and Youtube’s ventures into live-streaming and the nature of the website. Twitter is in my opinion one of the better sites to host live streams, they’re well known for having people “live tweeting” events or shows as they occur, sharing their thoughts and reacts.
So being able to view the show and comment simultaneously is a great way to engage watchers with the show. Additionally, in the past live tweeting creates new interest in show or event, but also draws attention away from Twitter as people leave the site to see what others were tweeting about. But having the live-stream hosted on Twitter allows them to stay on the site and still be engaged with the show, in what Jeremy Liew of Lightspeed Venture Partners calls “ambient digital video.”
Prior to the announcements of the 16 new live streaming networks, Twitter trialled it’s new streaming service, through a live coverage of the 2016 Presidential Election in tandem with Buzzfeed, drawing in 7.7 million unique viewers. More details on that by Variety here.
So clearly it’s beneficial for many brands and Twitter to continue pursuing live streaming and for consumers it represents an exciting new outlet for users to engage in with twitter.
So what can marketers do with Twitters up-coming streaming platform?
Naturally, for the sports, music and tv shows, they can promote their content on the live streaming service and expand the reach of their content and engage with their viewers. It stands to serve as a way for brands to interact with their fans in a closer and more intimate manner, as the content is being streamed actors of a show can live-tweet as the show is running and interact with their fans. This also causes a chain reaction of word of mouth, as one person views the content and tweets about the show it’ll lead into their followers to watch and view the show and so forth. So twitter live stream can be a lucrative opportunities for shows to promote their content, and the 24/7 live stream enables viewers to catch up on anything they might miss.
So what about industries that wouldn’t have anything to live stream?
One of the hardest ways to advertise products for marketers is through live-streams or videos without being obtrusive. People enjoy being able to watch continuous streams of their shows or videos (as evident by Netflix) without being interrupted by ads or anything else of the like. Even a small banner across the bottom of the video is considered annoying.
So what can marketers and Twitter do?
- Run ads between shows
- Rather than interrupt shows in the middle, marketers can run ads at the end of an episode or event. Similar to Spotify, where they run ads at the end of a song, but this can potentially interrupt a persons continuous stream of a show and have a negative reaction instead.
- Product placement
- Not always everyone’s favourite methods, but it has proven to work. Marketers can employ a method similar to what podcasts use, where in the middle of the show they can stop for a second mention their sponsors and be on their way.
- Have influencers tweet products relevant to show or event
- Companies can employ influencers to tweet about products as they’re watching the live stream. maybe a show makes reference to a product such as McDonalds, then a McDonalds social media representative can pop into the live-stream and comment about grabbing a Maccas. It’s less intrusive than the other two methods and can bring about interactions between viewers and companies.
As of yet Twitter hasn’t announced how they will implement ads or if there will be ads, but companies should be prepared to implement in ads into Twitters live-streaming service.
So, Twitter’s new live streaming service presents multiple opportunities for consumers and marketers of the like. It aims to combine two internet cultures (live streaming and live tweeting) into one cohesive site, to engage companies and brands with their fans alike. And allows marketers to promote their product to consumers in a new manner.
So what else do you think Twitter can do with their live stream service, and how can marketers use the service to their advantage, and would you yourself be willing to give the service a shot?
As always comment below!