Bring positive values to product and users with live stream
Value creation is the core of successful product development. Without positive values, users have no reason to engage, invest their time or money, or develop loyalty toward your product. This is why it is crucial to thoroughly understand your target users, their pain points, and desires, and align your product to address those aspects effectively. By consistently delivering value, you will not only attract and retain users, but you will also encourage them to think positively about your product. This will create opportunities for your product growth and success.
One of the ways of creating and delivering more value to your product is using live stream technology. We will see several aspects of live stream that can bring value to your product and user.
Live stream aspects which can bring positive values to your product and user
1. User-generated live stream as an additional way for enhancing user conversion in your product
A single live stream broadcaster is good to enhance user conversion in a product that doesn’t involve user-generated content. However, when building a product that creates a user-generated content ecosystem, such as social media, online marketplaces, or online entertainment platforms, incorporating live streaming as an additional channel to facilitate user-generated content can be highly advantageous for enhancing user conversion. User-generated live streams have the potential to attract new users to your product. By allowing users to create and share their own live streams, your product can obtain the creativity, diversity, and unique perspectives of its user base.
2. Live product launches can boost audience excitement and expectation feeling toward your product
You don’t want to publicly announce a product and only a few people notice the launch. Moreover, they don’t feel anything about your product. You want many people to notice your product and make them feel as excited as you are towards the launch. The most effective way to announce your product is by hosting a live product launch. It can build excitement and anticipation feelings toward your product. People will most likely to watch the product launch from start to end when it is in a live format compared to the regular product launch video because they sense an active community and engagement when they’re watching a product launch in a live format.
3. Live format drives real-time engagement and interaction
The regular video format has limited options beyond playing, pausing, or stopping the video. It doesn’t encourage the user’s activeness and participation and only offers content to watch. Using the live format can capture attention and offer additional ways of including the user’s activeness and participation in the live content. Users can actively participate, comment, ask questions, and react to the content being streamed. The interaction and engagement involved throughout the live stream, lead the audience to be more likely to remember your product and share the experiences with others.
4. Live interaction between users builds user trust and credibility in virtual space
The lack of trust and credibility is a significant challenge in the online space. Users are often skeptical about the authenticity and reliability of online content and the intentions of others. Live streaming allows participants to engage in real-time interactions, reducing user skepticism by providing direct, immediate, and face-to-face interaction similar to real life. Features like a webcam, microphone, and screen sharing are designed to humanize online interaction and strengthen the trust between participants. This reason makes the users will more likely trust to a product that is presented live compared to static and pre-recorded presentation products.
5. The need for bringing live information and real-time report to the users
Some users have needs for immediate information and often, those needs are time-sensitive and have a sense of urgency. Imagine the users need to know about their current health condition because of feeling a sudden sickness or they want to know the live reporting status of some accidents. The immediate information is a value which hard to deliver with static and pre-recorded information because it lacks real-time perception. Live stream answers this by providing value to deliver immediate and live information to the users.
Whether your product is centered around live streaming or not, the continuous growth of live streaming technology can be an invaluable opportunity to enhance your product’s value. By utilizing this technology, you can incorporate live stream capabilities into your existing product, thereby expanding its value, and potential in a more positive way.