5 Proven Ways Live Streaming Supercharges Small Business Growth

In uncertain times, adaptability, creativity, and a little hustle are key ingredients for businesses looking to stay on top of their game. With brands of all kinds finding new opportunities to grow their business online, more people than ever are using live stream video to reach customers, expand services, and accelerate growth. Felicia Alexander, co-founder of fitness company BoxUnion, saw the impact of video quickly when her team launched a live-streaming service earlier this year. “Now we can reach consumers anywhere,” she says. “We already have subscribers across 5 different continents, and the numbers grow every day.” In today’s climate, live streaming for small businesses is an absolute must. But depending on the size of your operation, we know it can seem a little daunting. That’s why we’ve put together this easy guide to show you how to get started and give you fresh ideas on what to stream. Let’s go!

What equipment do I need for live streaming?

The answer runs the gamut: if you’re looking to hop on a quick Instagram live, all you need is your phone or laptop.

If you’re looking to host a super high-quality stream, we recommend utilizing a Vimeo Premium or Enterprise subscription and a camera that fits your budget to really knock it out of the park.

Why small businesses should live stream

If you haven’t dipped your toes into the live stream (get it?) just yet, you might not be convinced that adopting a brand new kind of video marketing is quite worth the trouble. We’re about to challenge that notion. Here are five huge benefits small businesses can unlock with live streaming video:

1. Widen your reach

Let’s talk about your audience. Whether you’re an eCommerce business or a neighborhood bar, you’ve likely needed to find new ways to reach your people this year. Luckily, video gives you the ability to connect with people, wherever they are. That means you can extend your business beyond your local parameters, and begin to build a global audience of fans.

2. Connect with your audience

In the age of social distancing, nothing is as important as staying connected. Live streaming technology keeps communication between you and your customers alive whether it’s for in-store updates, customer feedback, or new product promotions. Live streaming also allows you to provide content that has real value to your customers, all while promoting your brand and increasing your visibility. Pro-tip: Use the live chat feature while you stream to make your audience feel extra involved.

3. Build your brand

There’s a reason why influencers love to live stream. It’s a powerful way to build your brand. Video adds a layer of intimacy and helps personalize your message, and the more you stream and deliver relevant content to your customers, the more likely it is that you’ll be able to position yourself as a thought leader in your industry or niche.

4. Launch new products

A live-streaming platform can help you launch new products or release supplemental content to drive sales and adoption. Got a new product you’re ready to unveil? Hop on a live-stream to build anticipation and drive interaction. Want to provide even more value to your users? Consider storing your live content in a Showcase or OTT channel to allow your people to access it all, anytime. That way, your video content can retain its value long after you go live.

5. Quickly get started

There’s a big misconception that live streaming has to be an expensive investment. Not so! Keeping your setup simple with a phone and internet connection is a perfect starting point to launch a live stream. A little gear never hurt anyone though — for the best newbie set-up, consider a dedicated camera (you can check out our favorite affordable live-stream gear here) and a Premium Vimeo subscription to really keep your content polished, and make sure you can access it later.

Did you know?

In a recent study, 80% of consumers reported they’d rather watch live video from a brand than read a blog.

Live stream ideas for your small business

Convinced? Good. Now let’s flip to the back of the napkin for some fresh ideas on how to stream.

1. Tell your brand story

Jumping into video can seem scary at first. But the easiest place to start is sharing your brand story through video. Customers connect to companies through storytelling, so start by sharing your ethos and background throughout your live streams. Introduce yourself, say hi to your viewers, and share what makes your company special to help strengthen that connection.

2. Connect with others

While we’re all feeling a bit of video-chat fatigue nowadays, live streaming can be a great way to host chats with members of the community, fellow small-business owners, or your customers themselves! Consider finding a micro-influencer or thought leader in your area of expertise and link up with them for an informative live chat that’s easy to get excited about.

3. Teach how to do something

When forced to shut down their in-person bartending, Cathead Distillery partnered with bartenders around the country to produce live how-to cocktail videos using the company’s trademark spirits. The videos broke down each step to help customers make them at home, and encouraged customers to stay engaged with Cathead’s products. If you’ve got a service that’s hard to translate digitally (think food and drink or instructional classes), hop on a live stream to keep people engaged and give them something to do at home.

4. Make it a series

Consistent and up-to-date messaging is critical to building a loyal audience. And while a one-time live stream is all well and good, recurring streams can be a great way to increase loyalty and engagement. Consider setting a specific time and keeping it. That way, your people always know where to find you!

Major must-haves for your small business’ live stream

You’re almost there! Before going live, here’s a quick list to make your streaming debut stand out.

1. Crisp video and audio

To start your streaming sessions, choose a preferred video and audio source. This can be as simple as the smartphone in your pocket or a portable live streaming camera. Just make sure you test it before you go live!

2. An easy-to-use encoder

Encoders convert your video content into a digital format to stream. Software encoders like Vimeo’s live-stream tech helps beginners produce professional-grade live events.

3. A clear destination

Before going live with your next video, be sure you know where your video content will live. Will your customers watch your live-stream video on a dedicated website or will they catch your update on Facebook or Instagram? Make sure you know ahead of time so you can effectively promote your stream, and properly house it when it’s done!

Wrap up: Keep calm and stream on

There’s a lot of pressure these days to stay ahead of the curve or risk going under. More than anything we encourage business owners to embrace experimentation, fail forward, and get some laughs along the way. Your customers and audience will appreciate your efforts. Now get out there and go live!