Live Streaming: How to Save your Business from COVID-19

Covid 19 has created a huge shift from brick-and-mortar to online. It looks like Covid 19 is here to stay - learn how you can take your business online with live streaming.
Live Streaming: How to Save your Business from COVID-19

Let’s face it. 2020 was not a good year.

The World Health Organisation officially declared COVID-19 a pandemic and life has not been the same since.

No one has escaped feeling the effect of the pandemic but if your business relies on people visiting its physical location, you may feel particularly affected by the pandemic-caused lockdowns and cutdown on physical contact with others.

Sadly, the pandemic is not over yet.

Although hope has arisen with the roll-out of several vaccines against the coronavirus, the pandemic is far from over. Experts say the pandemic may not be over until 2022 and the behavioural changes associated with the pandemic may last years beyond that…

Lockdowns have led to a slowdown of economies around the world, resulting in business closing and unemployment rising. Studies show that 84% of small business owners have been impacted by the slowdown of the economy.

So what can you do to save your business?

Take your business online. The best way to save your business and adapt to the changing environment caused by the pandemic is to go online. More and more consumers are turning online to fulfil their shopping needs and online shopping has increased across almost all product categories.  

This change in consumer behaviour is not for the short-term. The pandemic has accelerated an already ongoing movement of consumers to turn online rather than shop in physical stores. Even grocery shopping is moving online with online sales having grown by 53% in 2020.

This means that moving your business online will not only benefit you now, but will also render you prepared for the digitalised future that lies ahead.

This article will show you how to use Streampal as a platform to launch your business online and make sure you never find yourself in this position again!

Advantages of Live Streaming

There are many advantages to using live streaming for moving your business online. To name a few:

  • Broader audience: Consumers who do not live in close proximity to you can now access your store
  • Cost savings: No need to worry about high costs such as rent for your location
  • Social responsibility: Put your consumer’s and employee’s health and safety first

Moving to live streaming will allow you to connect with people all over the world and increase your exposure like never before.

Traditionally, the live streaming space has been occupied by gamers but 2020 has shown that there are no limits to who can use live streaming. Institutions such as Stockholm University have used live-streaming for events, churches have streamed masses, and the inauguration of America’s 46th president will even by live streamed.

But streaming is not only for large institutions. Yoga teachers, fitness instructors, musicians, content creators are, just to name a few, amongst those who have moved their practices online.

So how do you get started?

Keep reading to find out the quick steps to moving your business online.

Launch your Business

Over-the-top (OTT) platforms enables you to reach a wide audience and offers transparency in knowing who your audience is. If you are unfamiliar with the term OTT platforms, think Netflix. To find out more see here.

Streampal as an OTT platform can allow you to launch your business online through the simple steps outlined below!

Step 1: Signup

Sign up to Streampal by getting in touch with us here or by starting your 14-day free trial. Create your landing page to begin uploading your content.

Step 2: Upload

Step two is to make sure you have content to upload. To live stream your content you need equipment and software.

There are four essentials beginning your journey to live streaming.

First and foremost, you will need a stable internet connection. This is step one to providing high-quality streaming by making sure your stream does not freeze, buffer or suddenly stop.

Secondly, you will need a video and audio source. This includes anything from your smartphone to a professional camera. For streaming purposes your camera should have at least five megapixels to ensure high quality when important elements are visible.

Similar to video, audio sources can range from the built in microphone in your phone or computer to purchasing an external microphone.

You may also choose to invest in extra products to optimise your streaming set up. Depending on your streaming service it may be worth investing in a tripod to mount your device, as well as a ring light to ensure your stream has the optimal lighting for your purposes!

The better the quality of your live stream, the likelier you are to attract potential customers. Try to consider this when beginning your live streaming journey - investing in quality will pay off in the long run!

Step 3: Set your price

Set your own price for your service. There are two main ways you can set your pricing for live streaming; pay-per-view (PPV) and subscription. You can read more about of pricing your video-on-demand services here.

Subscription based pricing allows consumers to pay a monthly price giving them unlimited access to your website and live streams. Subscription based pricing allows you to have a predictable revenue stream each month and reduces the consumer churn rate as consumers are more likely to return to your website.

Pay-per-view pricing allows viewers to watch one piece of video content for a one-off fee. This can be a great way to introduce your content as it in requires a lower commitment than subscribing. Pay-per-view pricing is great for attracting casual content viewers or if you are streaming an exclusive event.

For example if you are a fitness instructor you could:

  • Charge per video (like attending a physical class)
  • Charge a subscription fee (like attending a studio)Once you’ve chosen your preferred pricing method, you can begin customising your landing page!

Step 4: Customise

Time to customize your landing page. Think about what kind of colours you think matches your brand and how you want to portray yourself. To help you along the way, we have created world-class themes for you to inspire and engage your users.

Let your creative juices flow by experimenting with our different colours and visual content without having to worry about any backend coding.

It is important that your landing page is easy for users to navigate. Try to be as clear as possible to help visitors know:

  • Who you are
  • What you are offering
  • Your pricing

This will help potential customers know who you are and what you are doing, making them more likely to interact with your page.

Step 5: Promote & Market

Once you have your customised page now you only need to increase awareness of your site and services. This can be done by broadcasting your message through multiple marketing channels to ensure you reach as many potential customers as possible. This includes broadcasting through channels such as:

  • Social media
  • Email lists
  • Word of mouth
  • Community forms

The goal is to make sure that everyone who might be interested in your service is aware of it. In your broadcasting message include the benefits of using your service to appeal to as many as possible!

Step 6: Collect Payments

Now that you have completed the steps and launched your site, you are ready to go live!

All that is left is to switch on your camera and begin streaming. We wish you good luck and stay healthy!

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