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Facebook Live for Business: Get a Competitive Advantage

Facebook Live Competitive AdvantageA Fast Company article states that, “Outside of Snapchat, there is no more interesting corner of the social media universe than Facebook Live. Live has been touted as Mark Zuckerberg’s pet project, one he’s “obsessed” with. Some believe Live is the key to Facebook’s future—a resource that will help it compete against broadcast television. Others doubt that Live will ever take off. But no one can deny the potential of live video on a platform that has over 1.71 billion users.”

Whether you believe that Live is competing with TV or that it might never take off, the fact is that it is available today and businesses can use it for a competitive advantage – getting eyes on their page. With all the algorithm updates and changes, Facebook favors content between people on the site. The fact is, a page may have thousands of fans, but less than 20 percent of those fans are going to see any of the page’s posts.

Using Facebook Live for business offers companies the most opportunities to be gained on Facebook. This is a great way to get exposure and reach without paying to play (i.e. paying for advertising on Facebook). By starting a Facebook Live feed on a page, the page’s fans receive notification that the page is live streaming. This is the only way that a page can currently notify all of its fans at once.

Fans need time to tune in, so keep the footage rolling for about 10 minutes before expecting any real engagement. Unlike the short 90 to 120-second videos posted on YouTube, Facebook Live, by its very nature, encourages longer video feeds.

Facebook Live also provides Facebook with something it desperately needed – a dedicated home for video and content original to the site. Early statistics showed that Facebook users watched live streams three times longer than other videos and they commented 10 times more than on a regular video.

In May at the Digital Content NewFronts conference, advertisers were assured that Facebook Live was a game-changing platform. To enforce that moment, Facebook paid 140 publisher and influencers a total of $50 million to create videos for Live. (Now you know where all of that great content came from and who funded it!)

The vision for Facebook Live is to create the next generation of TV on a mobile platform. The video tab allows Facebook users to discover and consume videos.

So, how do businesses take advantage of Facebook Live? Promote that you are going live, plan a pre-party, go behind the scenes and make viewers feel like insiders. Some ideas of what to promote:

  • Broadcast a Celebration, Open House or other Milestone Event – opening a new store, a new model home or celebrating an anniversary?
  • Promote a Contest – this could be a sales contest or a weight loss contest among employees.
  • Offer Expertise through Q&A Sessions
  • Provide an Inside or Behind the Scenes Look at your Business
  • Promote an Upcoming Event and then Broadcast from the Event
  • Tease or Promote an New Product
  • Answer Frequently Asked Questions

Steps to Go Live

  • Click the Live button on the top left of your smartphone.
  • Choose your audience – public, friends, fans, etc.
  • Choose a filter – a Prisma app update lets users pick one of eight Prisma filters to use while live streaming from an iPhone 6S or a 7.
  • Describe your live video.
  • Start the video by tapping Go Live!
  • Keep Broadcasting – remember it might take a minute or two for friends to join you. Broadcast eight to 11 minutes to attract a larger viewing base.
  • Friends and Fans can react and comment, so respond to them.
  • Tap finish to end the video, and then choose to post the video to Facebook, download it to your phone, delete it entirely, etc.

If you are still stumped on how to use Facebook Live as a competitive advantage, call mRELEVANCE at 770-383-3360 to set up an appointment.