Community Blog The Value of Livestreaming for Your Business

The Value of Livestreaming for Your Business

This short article discusses the increasing demand and value of livestreaming, including examples from the South Korean market.

Livestreaming is an effective way for you, as a business owner, to increase brand awareness and boost sales. You can use it to show your customers how your products or services work in real-time while connecting with them on a deeper level.

Livestreaming also breaks down geographical barriers, enabling customers worldwide to engage with your business and become part of its community.

You might be under the impression that livestreaming comes with a big cost attached, but that isn't always the case. Livestreaming can help you reduce your business' overheads. Think about it. You don't need to pay for a brick and mortar showroom to showcase your items, and more people can attend your events.

You can also use livestreaming to facilitate hybrid gatherings and make your in-person events available for remote attendees to widen your reach. Some businesses also use livestreaming to train new employees - remote or otherwise.

To summarize, livestreaming:

  • Helps you build trust and loyalty with your customers/followers
  • Makes your customers/followers feel like part of your community
  • Enables you to tell your story directly
  • Boosts sales by enabling you to promote your services or products in real-time
  • Provides optimised content that can widen your online reach

A Vital Tool for Sales and Marketing Strategies

Some of the best livestreaming platforms today come with inbuilt API access. This lets you configure your hosting experience by integrating with other apps and programmes your business uses, such as CRMs, encoders, and mixers.

It's easy to evaluate the success of your events too because the majority of livestreaming platforms have analytics dashboards.

You can use analytics to access information relating to the number of event attendees, who engaged and how, and even gain insight into patterns in customer behaviour, enabling you to establish who your audience is and who is missing out on your brand.

The Demand for Livestreaming Is Growing

Livestreaming is one of the fastest-growing industries. “Alibaba Cloud is experiencing a huge demand for livestreaming worldwide,” explains Stone Ni, Country Lead of South Korea, Alibaba Cloud Intelligence.

Alibaba Cloud provides services to 25 regions and has 80 availability zones worldwide. It's the leading public cloud service provider in the Asia Pacific and ranks number three globally, according to Gartner.

Since making its first foray into the South Korean market in 2016, Alibaba Cloud has introduced a number of emerging and established technologies (including livestreaming) to a variety of South Korean customers, ranging from manufacturing firms and logistics companies to retail companies and media/entertainment startups.

Case Study – Building a Livestreaming Platform

One of Alibaba Cloud's newest customers is Lala Station, one of South Korea's leading livestreaming companies. Alibaba Cloud's one-stop e-commerce livestreaming solution is enabling Lala Station to deliver a customised and seamless shopping experience to customers in South Korea and across Southeast Asia.

Lala Station has used Alibaba Cloud's leading infrastructure, including its narrow-bandwidth and high-definition video products, to create its own bespoke global livestreaming platform.

One of the biggest benefits of using Alibaba Cloud to host livestreaming is that it utilises real-time video processing technology, so sudden spikes in traffic don't cause disruption or downtime to the service. This provides growing businesses with peace of mind.

From an end user perspective, Lala Station's new livestreaming platform displays information about a product's features during livestreams and facilitates interactive messaging between viewers and company representatives.

It also provides payment tools and AI-powered real-time multilingual translation with subtitles - a must-have functionality for any international business.

“Lala Station is happy to be able to provide a high quality streaming service to its global customers and shopping audience, thanks to the adoption of Alibaba Cloud's e-commerce livestreaming solution,” says Lala Station's CEO, Lee Cheol-ho.

The best cloud infrastructure services are on hand throughout the onboarding process and provide on-demand customer support when the customer needs it. “With help and expertise from Alibaba Cloud, we hope to expand our reach to shoppers in Southeast Asia and beyond,” Cheol-ho adds.

Alibaba Cloud's livestreaming solution is supported globally by a wide range of content delivery networks from more than 70 countries and regions. Are you ready to start leveraging the value of powerful and cost-effective livestreaming like Lala Station?

Click here to find out more about our livestreaming solution.

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