Let’s say you conduct a content audit on your competitors and see that they’re having success with live video, but you haven’t really tried live video yet. What might you do?
- Give up – they’ve already won the space, and it’s doubtful you can catch up at this point.
- Immediately start doing live video on every channel to take back your audience.
- Test out live video on different channels, and see how your audience responds.
Explanation: The correct answer is ‘Test out live video on different channels, and see how your audience responds.’ When competitors are experiencing success with a particular content format like live video, it presents an opportunity for your brand to explore and potentially leverage the same strategy. However, rather than immediately saturating all channels with live video content or conceding defeat, a strategic approach involves testing the waters to gauge audience interest and response. By experimenting with live video on different channels, you can assess its effectiveness, suitability, and resonance with your audience. Paying attention to metrics such as engagement rates, viewer retention, comments, and feedback will provide valuable insights into whether live video aligns with your brand’s objectives and resonates with your target audience. This iterative approach allows you to gather data, refine your strategy based on audience preferences and behaviors, and optimize your content efforts over time. Ultimately, testing live video on various channels empowers you to make informed decisions, tailor your content strategy to meet audience needs, and capitalize on emerging opportunities in the competitive landscape, ensuring that your brand remains relevant, engaging, and competitive in the ever-evolving digital ecosystem. Therefore, the selected answer advocates for a strategic and data-driven approach to exploring new content formats, enabling brands to adapt and thrive amidst changing market dynamics and competitive pressures.
