Unless you have been living under a rock, you are aware that 2017 is the year of LIVE video. Every social media platform has their native version and there is no shortage of social media mavens going live on Instagram, or Facebook to promote their brand. My first experience with going live was in October 2016, when Hurricane Matthew made its way to Florida. Concerned friends and family kept ask for a status update while we watched shingles fly off our neighbors’ roof. I decided to show them just how things were going. The power of live media is revolutionary.
The concept of live media is young and still developing but that has not stopped the crowdfunding industry from realizing its potential. Kickstarter launched, Kickstarter Live, its own new live video service, which allows backers and creators to interact in real time. Community engagement is key to success in crowdfunding so introducing live media was a smart move. We can even admire that the service was built with the assistance of Vancouver startup Huzza, which currently is the only service that allows you to have a Facebook Live stream with two hosts without having a verified page. Go Huzza! Aside from engagement, what else could live interaction possibly inspire?
Well, let's go back to my friends and family calling me about Hurricane Matthew. I could explain the strong winds and bending trees while shingles from my neighbors’ roof flew by OR you could witness it for yourself…which would you be more inclined to trust? Now consider you are considering backing a project on Kickstarter but you are investing in an idea, images and carefully crafted words that sell you a vision OR project creators showing you the product and their plans, answering questions live and in real time. Which, would you trust and invest in? Precisely! The hope here for the crowdfunding industry is that live media will provide accountability for the project creators and trust building with the crowd.
Bravo Kickstarter for taking the first step towards bringing more accountability into your projects by allowing backers to send selfies, ask questions, chat, and select rewards, all while interacting with the creator(s). The data on the impact of live media on crowdfunding campaigns will improve as more creators use the tool for it's potential.