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How Live Streamed Events in 2023 Propelled Business Growth

Updated: Jan 18

How Live Streamed Events in 2023 Propelled Business Growth

How Live Streamed Events in 2023 Propelled Business Growth

In 2023 we witnessed a shift in the way companies engage with their audience, as live-streamed events emerged as a game-changer in the digital landscape. From product launches and webinars to virtual conferences and interactive Q&A sessions, businesses across various industries leveraged live streaming to foster growth and connectivity. This article explores the transformative impact of live-streamed events on business growth in 2023, supported by key statistics and credible sources.

Expanded Audience Reach

Live-streamed events proved to be a powerful tool for expanding audience reach, transcending geographical boundaries. According to a report by Statista, the global live streaming market saw a 99% increase in viewership during 2023 compared to the previous year. This surge in viewership highlights the effectiveness of live-streamed events in reaching a wider and more diverse audience. solo16 Broadcast has been live streaming events since 2016.

Increased Engagement and Interaction

Live-streamed events facilitated real-time engagement and interaction, creating a more immersive experience for participants. According to a survey conducted by Livestream and New York Magazine, 80% of respondents prefer watching live video from a brand rather than reading a blog. This preference underscores the importance of live streaming in capturing audience attention and fostering meaningful interactions. A live streamed event from StreamWorks allows the viewer to instantly vote in polls, add to word-clouds and ask questions. These can be directly added into the broadcast meaning the viewer feels at the heart of the event.

Boost in Brand Awareness and Recognition

Companies that embraced live-streamed events experienced a notable boost in brand awareness and recognition. A study by Wyzowl found that 74% of businesses reported an increase in brand visibility after incorporating live streaming into their marketing strategies. Live events, whether product launches or behind-the-scenes glimpses, allowed companies to showcase their brand personality and connect with their audience on a more personal level.

Cost-Effective Marketing and Content Creation

Live-streamed events provided a cost-effective alternative for businesses looking to create engaging content. A report by Social Media Examiner revealed that 67% of marketers found live video to be an effective tool for promoting products and services. The real-time nature of live streaming allowed companies to cut down on production costs while delivering authentic and compelling messages to their audience.

Valuable Data for Informed Decision-Making

Live streaming platforms offered robust analytics tools, providing companies with valuable data for informed decision-making. According to a survey by IBM Cloud Video, 72% of businesses use live video analytics to measure success. These analytics not only helped companies understand viewer behaviour but also enabled them to refine their strategies, ensuring future live-streamed events resonated effectively with their audience.

Enhanced Employee Engagement and Internal Communication

Live-streamed events were not limited to external communication; they also played a crucial role in enhancing internal communication and employee engagement. A study by Gallup found that companies with engaged employees outperform their counterparts by 147% in earnings per share. Live streaming internal events, such as town hall meetings and training sessions, fostered a sense of connection and transparency among employees.

The impact of live-streamed events on business growth in 2023 is undeniable, as companies reaped the benefits of expanded audience reach, increased engagement, boosted brand awareness, cost-effective marketing, data-driven decision-making, and enhanced internal communication. As we move in 2024, it's evident that live streaming will continue to be a cornerstone of effective communication strategies, shaping the way businesses connect with their audience and drive sustainable growth.

We provide a wide range of articles on live streaming on our streaming website. These can be seen here.

solo16 Broadcast provide live broadcasting for both the television and corporate sectors.

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