At the live video social streaming summit in New York, streaming enthusiast Al Roker made the point that live video social streaming is here to stay and suggested there should be a B2B company in this space. Much of the focus to date has been on B2C companies such as Periscope, Meerkat and Younow, and who will win the race for consumer adoption. We thought it was timely to use Al’s thoughtful insight to assess the reasons for a B2B live video social streaming solution.
The age-old question in marketing is whether to “build, borrow or buy.” We see this debate played out time and again in the social media and digital landscape as new technology and companies emerge. We’re at the stage now where live video social streaming has enough adoption where it’s not a fad, but rather a new form of communication that requires analysis and developing a strategy for how to utilize it that fits with ones goals and objectives as a company, short and long-term. Companies need to decide whether to “build” similar functionality on their “owned channels,” or to “borrow” such functionality by using these platforms as a marketing channel. Below are some topics rights holders and brands should consider as it relates to their live video social streaming strategy to determine whether to integrate such solutions and/or utilize a third party site like Periscope.
Control: Content Rights and Disrupting the Disruptors: Rights holders in sports, music, events and media entertainment are challenged by Periscope etc. as their rights can be undercut by consumers getting access to content directly through these new channels. The Mayweather-Pacquiao fight being the highest profiled example with HBO seeing live streams of their pay per view broadcast being streamed on these channels, along with streams coming from in venue at the fight. A B2B solution addresses this concern as rights holders can integrate this technology into their own experiences (apps, websites) to channel this behavior into their own environment. If the content and experience is compelling enough, consumers will follow, and the rights holder will have a stronger argument (the legal issues require another article) to suggest their content should not be on other channels if they offer it via their own experience.
Content Marketing: Companies like Spredfast, Olapic and others are seeing great success at channeling and repurposing UGC content from existing social platforms to use in content marketing. Live social streaming is the next frontier. B2B integration allows one to own, control and potentially monetize this UGC content.
Audience Engagement Drives Traffic: By bringing this live social streaming technology into your experience, users will be both accessing your content and contributing content which they’re promoting to their social network, helping drive engagement and traffic to your community.
Repurposing the Content Across Screens: By channeling live streams, companies can repurpose this content onto other channels across their owned websites and social media, share them via LED screens in venue to add to the in-person experience and in broadcast TV if it’s a media company.
More Camera Angles for Producers: By channeling live social streaming, media companies can add more “camera” angles to supplement their official production.
Monetization: In addition to possibly monetizing the content generated from live video social streaming, a B2B solution empowers businesses to brand the experience via a web player, in venue screens and through promotions executed in their channel versus using a third party company which is monetizing these experiences.
Data: Integrating this technology enables companies greater access and insight into the data.
It’s clear that B2C platforms are getting trials and traction, and the marketplace is maturing enough where strategists are beginning to realize it’s time to think long regarding live video social sharing, and determine whether such behavior is something to integrate into their own experiences. It’s a smart move to look to see how you can integrate it into yours.
Aaron Earls is a serial entrepreneur & co-founder of NMS (the first acquisition in the social media industry in 2007)