Since the emergence of social media, marketers have fantasized about the next big thing to hit the industry. New platforms, features, devices and applications have entered the ring to compete for the attention of marketers. While all have been harnessed for their potential, nothing has peaked the interest of marketers like 360° video and live video streaming.
This new form of storytelling has led users and businesses alike to plunge headfirst in exploring the potential and features these innovations offer. Brands like Red Bull, Adidas, GoPro and the New York Times have already begun implementing 360° video by releasing videos on YouTube to showcase their products and news events. Buzzfeed has been one of the leading media platforms to utilize the live video streaming feature to release breaking news, explore cultural rituals, and even to live stream kittens sleeping in a box. See below.
The current conversation about the future of video marketing through 360° and live stream video is polarized. Many professionals argue that these new technologies and devices are critical for brands to boost their connection with audiences; others believe that it inspires and produces lazy, rushed, ineffective content.
While 360° and live stream video offer marketing potential for businesses, it also possesses great potential for backfire.
The benefits of both 360° and live stream video include an immersive environment, transparency of products and services through unedited, unscripted content, and engagement with an audience in real time. However, factors to consider when using 360° and live stream video include which platforms support this new technology, what is the reach potential, engagement of the targeted audience, and the efficacy of produced content.
When considering the integration of these advanced video marketing tactics serious research must be conducted to decide whether this medium will benefit your business.
- Will it place your product or service in the best light?
- Is this level of transparency necessary for your brand?
- Do you have the appropriate physical and human capital to produce quality content for this media?
Although research is beneficial when predicting an outcome, it does not guarantee the success or failure of a project. The most sure-fire way to gauge if 360° video and live stream is the right move for a marketing plan is to take a chance.
Will your business try live streaming video this year?