How do you measure the impact of live streaming on your brand awareness and loyalty?

1 Define your goals

Before you start measuring, you need to define what you want to achieve with your live streaming. Do you want to increase your reach, engagement, conversions, retention, or advocacy? Depending on your goals, you'll need to track different metrics and use different tools. For example, if you want to boost your reach, you'll need to monitor your views, impressions, and shares. If you want to improve your engagement, you'll need to look at your comments, reactions, and watch time.

2 Choose your platforms

The next step is to choose the platforms that best suit your live streaming goals and audience. There are many options to choose from, such as YouTube, Facebook, Instagram, Twitch, LinkedIn, and more. Each platform has its own features, analytics, and best practices. You'll need to understand how each platform works, what kind of content performs well, and how to optimize your live streams for maximum impact. You'll also need to decide whether to use one platform or multiple platforms for your live streaming strategy.

3 Use analytics tools

Once you've chosen your platforms, you'll need to use the analytics tools provided by them to measure your live streaming performance. Most platforms offer basic metrics such as views, impressions, reach, watch time, comments, reactions, and shares. These metrics can help you understand how many people watched your live stream, how long they stayed, how they interacted, and how they spread the word. Some platforms also offer more advanced metrics such as peak live viewers, average live viewers, playbacks, and retention rate. These metrics can help you understand how your live stream captured and maintained your audience's attention.

4 Track conversions

Besides the analytics tools provided by the platforms, you'll also need to track the conversions that resulted from your live streaming. Conversions are the actions that you want your viewers to take after watching your live stream, such as signing up for your newsletter, downloading your ebook, buying your product, or joining your community. To track conversions, you'll need to use tools such as Google Analytics, UTM codes, landing pages, and lead magnets. These tools can help you measure how many viewers clicked on your links, visited your website, and completed your desired actions.

5 Collect feedback

Another way to measure the impact of live streaming on your brand awareness and loyalty is to collect feedback from your viewers. Feedback can help you understand how your viewers perceived your live stream, what they liked and disliked, what they learned, and what they want to see more of. You can collect feedback in various ways, such as surveys, polls, quizzes, emails, and social media. You can also use tools such as Net Promoter Score (NPS) and Customer Satisfaction Score (CSAT) to measure how likely your viewers are to recommend your brand or to buy from you again.

6 Compare and improve

The final step is to compare your live streaming results with your goals and benchmarks. You'll need to analyze the data and feedback that you collected and identify the strengths and weaknesses of your live streaming strategy. You'll also need to compare your live streaming performance with your competitors and industry standards. This will help you understand how you stand out from the crowd and what you can do better. Based on your findings, you'll need to make adjustments and improvements to your live streaming content, format, frequency, promotion, and interaction.