The creator economy is continuing to grow at an exponential pace. In Brazil, 55% of the residential online population state they like to watch, listen, or read about film & TV content from influencers, making it the most followed type of content.
Brazil is a country that has the highest consumption of social media in the world and arguably the most successful creators. Some of the most engaging content is being developed by social creators which is why in 2024, social has been shifting from acting as an ancillary tactic to becoming more of the core marketing strategy.
One facet of social that continues to outperform other channels yet is significantly untapped by Marketers is livestreaming influencers. The livestreaming audience is expected to reach 1.41 billion by 2025 , mostly due to the continuing shift of network TV viewership to live video on Instagram, TikTok and YouTube.
Livestream video allows influencers to engage with audiences in real time, without pre-recording and posting their content. Creators leverage the interactivity and immediacy of livestreaming, for greater authenticity and immersive experiences with their followers. Livestreams also create a sense of urgency and exclusivity, encouraging viewers to tune in at specific times to not miss out on content.
Marketers benefit from engagements with livestream influencers such as seamless integration of product showcases, interactive Q&A sessions, collaborations, and behind-the-scenes glimpses. The effectiveness of influencers in general is substantiated by the increase in Ad spending in the Influencer Advertising market in Brazil is forecasted to reach US$458.20m in 2024 by the end of 2024. The market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 10.30%, leading to a projected market volume of US$748.20m by 2029.
And the increasing growth of livestreaming specifically makes this new category much sought after with first to market advantages for many advertisers.
If you’re putting together a marketing strategy for the second half of 2024, here are the top 5 things to consider.
The power of nano-influencers should not be underestimated, as these small but targeted influencer profiles are ideal for promoting small businesses or niche campaigns. But the Macro livestreamer generates the highest scale and influence. And this is a sweet spot for brands to engage.
Followers feel a deeper connection with livestreaming influencers given their authenticity. Brands have an opportunity to reach a better balance of multicultural audiences (the new majority) for even greater authenticity. Brands can advance their DEI efforts by focusing on minority creators. When asked to respond, over 20 % of livestream creators in Brazil belong to underrepresented communities (sample size of ~500).
In general, responsible investment commitments haven’t been defined in Brazil. This need to be changed. There may be limitations in diverse owned media publishers, but Brands can increase their commitments with minority creators and truly support communities. Not only is this the right thing to do but it is also good for Brands’ businesses given higher engagement rates with consumers due to authentic and relatable content driving higher performance / ROI.
When thinking about livestreaming, we typically think video gaming. Twitch is the leading livestreaming platform for gamers, with over 31 million monthly users. However, there are many other platforms including YouTube, Kick, TikTok that offer livestreaming.
While gaming is huge, one of the main drivers of growth in livestreaming is actually non-gaming content, currently accounting for ~40% of all livestreams across 27,000 creators, according to proprietary data. This is due to the fact that the livestream audience is changing and broadening to become more mainstream. Non-gaming content that is increasing in volume include sports, music and ‘just chatting’ channels.
Therefore, livestreaming influencer tactics should be considered as part of the broader video strategy for Brand initiatives. Live video is live video irrespective of what platform it is being consumed.
With AI, brands can create personalized marketing campaigns that adapt and change quickly, revolutionizing how brands promote their products and services. By analyzing data of consumer behavior, preferences, and habits, marketers can gain insights into purchasing habits and interests, emotions, and motivations. Machine learning processes thousands of data points per minute including user engagement, content preferences, audience interests, geographic data and external data such as promotional pricing, and weather with real time optimization and configuration of creative. Brands can resonate deeply with consumers in highly engaged livestreaming channels on a more personal and emotional level.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 25.7% during 2024-2029. The social commerce GMV in Brazil will increase from US$2.58 billion in 2023 to reach US$10.65 billion by 2029.
Up to eight of every ten consumers in Brazil used new digital sales channels such as WhatsApp and social media in 2021. In a survey, ten percent of respondents said they had participated in a live commerce session in the past and, among those, more than half had purchased a product on that occasion. When asked if they were willing to attend a livestream sales event in the future, 88 % of the Brazilians surveyed answered affirmatively.
In 2023, the main platform used by Brazilian consumers to attend live commerce sessions was Instagram. According to the survey, 62 percent of respondents reported using Instagram to fulfil their live commerce needs. In second place was YouTube, as 47 % of respondents said they used the sprawling platform for live shopping over the same period.
Brands have a unique opportunity to engage with consumers in a highly interactive and engaging manner with livestreaming content. Livestream ecommerce can drive exponential new revenue streams for Brazil retailers. For livestream shopping to catch on in the Brazil, brands and platforms need to pay attention to what motivates shoppers. Exclusive discounts are a huge draw, along with games, quizzes, and giveaways. Brands also need to find the right influencers and content for entertainment pulls.
As the livestreaming influencer landscape continues to blossom in 2024, the marketplace will become more fragmented with a growing number of networks, agencies and platforms. As you navigate this dynamic landscape, remember that adaptability is key. By embracing the evolving nature of livestreaming as part of a bigger ecosystem, you will gain an advantage over brands that are continuing to see social as a disparate marketing tactic.
Full version of interview in Portuguese you could find in Meio&Mensagem
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