Video Marketing and Product Development using OneStream Live

Live streaming was the most prominent marketing trend in 2021, and it is expected to become a permanent component of the global business landscape in 2022 and beyond. Digital marketing has evolved as the hottest commodity of modern times, and the notion of video marketing has been selling like hotcakes. Previously marketing channels were confined to print media and simple Word of Mouth (WOM) advertising. However, since the start of the 21st century, new marketing tactics have emerged. These include Business to Consumer (B2C) and Business to Business (B2B) strategies. Interestingly, the concept of video marketing has provided a significant boost to the B2C strategy for marketers.

In This Blog:

• What is Video Marketing?
• Important Stats
• Convincing Powers of Videos
• Video Marketing for Product Development
• Conclusion

What is Video Marketing?

Video marketing means that you choose to present a product or a service using videos on social media and other digital marketing platforms. While social media include social networking platforms like Facebook, YouTube, and TikTok, other digital marketing platforms include podiums like company websites, webinars, and email marketing. We see a lot of influencers and entrepreneurs online, actively running their businesses through an online store and promoting their products using videos.

Important Stats

The stats also second our stance. According to Animoto, an autonomous platform that conducts surveys, about 85% of the marketers in 2019 agreed that video is an effective way to gain consumer attention online. InVideo research suggests that in 2020, the online video consumption increased to 96%, whereby 9 out of 10 viewers identified they preferred watching more videos from brands. Interestingly, in 2022, an average user is expected to spend 100 minutes daily watching online videos. Without a doubt, video marketing is gaining significant attention, and you can leverage this strategy using a short promo, a short video, online webinars, or a simple review.

Convincing Powers of Videos

According to Wyzowl, 84% of the consumer groups in 2020 claimed that they were convinced into buying the product after watching their video advertisement. The number of digital video viewers in the U.S. alone reached 244.4 million in 2020. As a result, Wyzowl estimated 86% of marketing professionals use video marketing as a leading promotional strategy, primarily owing to the satisfactory ROI that video marketing generates for their efforts. So, it’s safe to say that exploiting video marketing can effectively develop product growth and product sales.

Video Marketing for Product Development

Now, you might be wondering that video marketing can surely improve sales, but how can it improve product development? Interestingly, video marketing plays a vital role at every stage of product development:

1. Finding Customer Demands

The first step in product development is simply analyzing or figuring out what the customer wants, and this involves some brainstorming and market survey. How video marketing can help at this stage is relatively straightforward! You can launch a simple promo video or throw a vague concept of your new product to assess the public’s response. Using that response, you can make the necessary changes according to the public preferences.

2. Analyzing Competitor Strategy

The next step is to realize the significant players in the game and the competitors, and this step only involves a thorough analysis of the competitor strategy. Sometimes, rivalry can play an essential role in gaining public attention. You can launch a marketing video that abstractly answers the various confusions related to their product but does not mention them. In doing so, you could market your product by stating its significant pros.

3. Beta Testing Stage

Now, this is the ultimate game-changer. Let’s consider running a business of beauty products, and you need to review a new eye cosmetic product you developed. To assess public response, you can launch an unveiling video before rolling it out for sale. You can go live with your pre-recorded content or in real-time and answer a few queries from your followers as well. For this, you need a tool to live stream any pre-recorded content on your channel. Realizing the need of the hour, OneStream Live offers a user-friendly solution to you by providing pre-recorded and real-time multistreaming services.

4. Product Launch

The final step is the product launch phase, and this is where you need to work smartly. The unveiling of the product can be done through an adequately pre-announced scheduled live stream so you can gain maximum audience outreach. Pick a time you think is most feasible for your top buyers and go live while using the product. Alternatively, send in some gift hampers to the audience as well.

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OneStream is a cloud-based app to live stream your pre-recorded videos to social media. Please let us know your feelings in the comments section. You can also write to us at care@onestream.live