Between the first quarter of 2018 and the first quarter of 2019, the trends in video streaming or online video platform went up. The information represents itself: conventional television is slowly fading and live streaming media is doing extremely well. Millennials, teenagers, and children are leaving the old methods behind and switching to online streaming options like YouTube, Netflix, Hulu, and many more. The youth voices for the internet for both entertainment and news. The video streaming platforms trend has many enterprises, nonprofits, businesses, and other companies finding and executing live video streaming solutions.
How to Choose The Video Streaming Solutions to Expand Your Business
Creating Trust, Building Credibility
Video streaming solutions assist in creating and building credibility and trust. When your videos are refined and presented well, they leave it leaves a permanent brand impression in the audience’s minds. This grows credibility and trust.
More Brand Awareness and Conversions
A major portion of your audience is uninterested in focusing on huge quantities of text. Video streaming solutions offer the same expertise in a more attractive way which is likely to hold the attention. Online video streaming platforms create brand awareness by creating a good word out there. If the audience likes what they’re looking at, it expands conversions and further increases your ROI.
The type of category of your business is immaterial. When you create entertainment content on your live video streaming solutions or you’re a marketer. For example, webinars on a video streaming solution are an excellent way to cut short the distance between sellers and buyers.
Important Steps For Selecting The Right Video Streaming Solution For Your Business
Listed below are some steps on how to choose online video streaming solutions for your business. We will discuss on how to carry out the following options:
- Carry Out a Competitive Analysis
- Make a Product Requirement Document
- Ascertain Product Requirement Disqualifiers
- Make a Price Comparison
- Recognize the MVPs
- Think about Your Workflow
- Select your Streaming Solution
When you consider these pointers, you will have the vision and understanding you require to opt for the best video streaming solution.
Step 1 – Carry Out a Competitive Analysis
The very first step in making a wise, informed choice is a full data comparison. In such a case, you will have to compare probable live video streaming solutions.
Go online on Google and carry out some quick searches on the video streaming industry. In the top results, read about the websites, review blogs about the leading live streaming solutions.
The questions which you should be raising are:
- What kind of equipment do you need to begin live streaming?
- What is the bandwidth that lives streaming uses?
- What are the top-rated live streaming platforms?
- What does a live streaming platform offer my business?
Getting a better understanding of these live streaming domains will be useful in your decision-making process.
Step 2: Make a Product Requirement Document
Make a list of the important features of the video streaming solutions which would assist you in getting to your goals. Sit with other team members and discuss what the ideal live stream would appear like for your business.
What would be going on on the screen? What is the number of cameras you would be using? Would you be utilizing animations, a green screen, or titles?
Note down these essential features and conduct research on them. For example, animations, green screens and titles are generally managed at the encoder level. For this purpose, you would be using live streaming software such as OBS Studio or Wirecast or hardware like Teradek.
Here are some aspects you should consider:
- Security features
- Monetization alternatives
- Video API access meant for integrations
- White-label or Customized branding
You don’t require a virtual video platform with every single feature at your reach. You only require the features which are essential for your business hosting needs.
Step 3: Ascertain Product Requirement Disqualifiers
After taking into consideration must-have features, you must also think of disqualifying features.
For example, you might want to find and that serves your market directly. If you have very fixed, custom requirements which cannot be met unless a provider gives you customized solutions.
There are many aspects that may put OTT video providers disqualified from being thought of. You may require an all-inclusive free trial. You will be making a large buy, so it is essential to be able to try the platform out before executing.
Maintain this list with the list of essential features and base your evaluation of each online video platform on these benchmarks.
Step 4 – Recognize the MVPs
Making the most of your return on investment is a standard requirement in the business world. This is the reason you have to recognize the MVP.
An MVP is also known as the minimum viable product. This means that it is a product that attains the most with the minimum.
When choosing a live streaming solution for your business, an MVP will consist of all the features you require to reach your goals and a decent price tag.
Step 5 – Think About your Workflow
A streaming solution may fulfill all the criteria off your list of needed features and adapt to your budget, it is important to ensure it is resilient to your workflow.
Workflows differ a lot based on how you create your live streams. For example, are you functioning with one camera or several? Are you employing an engineer to merge your live streams in real-time or are you providing unedited videos to the encoder directly?
All of this will impact the kind of features you require. At the present point, it is likely that you will have a good sense of what video platforms feel and appear like and how you can use them.
This is the time to think of using every live streaming platform in relation to the real-life work situation and focus on your requirements.
Step 6 – Select your Streaming Solution
By this time, you will have got enough information to make an informed selection. Cover the lists you have made and think of making use of the free trials from the best choices.
There are many awesome platforms available, but the one best suited for your business will rely on what you want to achieve. If broadcasting is the primary service your business offers, you should not take a lot of time to carry out this decision. You should also learn how to build a video streaming website.
It is a good possibility to make a platform switch if the first choice does not match your requirements. This method should assist you in hitting the target on the first shot.
Selecting a video streaming solution can be puzzling, it doesn’t really have to be. You can now create a video streaming website easily too. With an easy, aligned process like the one planned above, evaluating options by determining your requirements can be comparatively straightforward. It’s not about which platform has the finest features, it’s about searching and finding a streaming solution that assists your business to reach its goals.