When I was a child, I learned about brands and new products only through television commercials. There were no DVR's, and the luxury of fast forwarding through commercials was only a distant dream, which was thankfully realized during my lifetime. With the advent and proliferation of social media, consumers now have access to endless and more innovative ways of being reached by marketers. It's almost impossible to keep up with the constantly changing landscape of mobile apps and social media platforms, but there's a new player on the block and it's huge. Earlier this year, Twitter purchased an app called "Periscope" for a reported price of almost $100 million. The app was launched for iOS in late March and became available on Android in late May, with over 1 million users registered in the first 10 days.
Periscope enables users to share and view live video broadcasts from their mobile phones. The mobile based app differs from typical web-based videos because the content is streamed in real-time, allowing for a more raw and unpolished feel. More importantly, there's a strong interactive component of Periscope which allows followers and potential purchasers of a company's products or services to provide running commentary and instant "likes" in the form of a heart icon, all from the comfort of the tiny device in their hands. The main advantage of Periscope is that it's tied to Twitter, thus companies who already have a Twitter account for branding purposes have an instantly built-in audience and followers from the get go. All videos posted to Periscope automatically link up to the owner's Twitter account, eliminating the legwork of building up buzz and an audience.
So far, brands like Applebee's, Red Bull, DKNY, Adidas, Taco Bell and the New York Yankees have jumped on the bandwagon. In late April, Target used Periscope to tease its LILLY PULITZER line, an effort that helped fuel consumer recognition and demand. The result? Ninety percent of the collection sold out in a few days. Even the CEO of T-Mobile streamed his morning jog through Central Park, watched by a set of curious eyes. Periscope has a map and geo tagging features, allowing brand owners to see how many people are using the app in a particular place at any given moment.
While such features may seem stalkerish from a personal standpoint, they allow hyper-marketing in a way that hasn't been possible before. Since inception, well-known brands have utilized the marketing capacity of Periscope in creative ways such as: (1) streaming live Q&A sessions to humanize the brand and allow consumer input; (2) customer education; (3) celebrity take-overs and endorsements; (4) product launches and announcements; (5) behind the scenes footage, like factory tours and interviews; and (6) VIP access to exclusive events like fashion shows and backstage model antics. The general consensus is that viewers come to Periscope to see something different and unrehearsed, something fresh and even unpolished. As a result, brand owners will likely lose followers and traction if the content posted seems rehearsed or staged.
Some have questioned the marketing value of Periscope, particularly since the content posted remains visible only for 24 hours. After that, not even the account owner can access it. However, such limited visibility puts more pressure on marketers and companies to create fresh and creative content that will keep people talking about a product or service long after the video is gone. This is good on a multitude of levels. Brand owners can alert followers that a video will be posted by Tweeting about upcoming Periscopes a few days in advance to create hype and reach a wide-audience. Of course, there are some downsides to any new social media platform, such as creating new outlets for piracy and infringement. Such intellectual property fears have already manifested when the pay-per-view Floyd Mayweather, Jr. vs. Manny Pacquiao fight was widely pirated through streams of varying quality on Periscope.
If your brand is not yet on Periscope, you may want to consider if it should be. In the social and somewhat voyeuristic world in which we live, consumers are always looking for new and exciting ways to see things. Periscope is the latest lens through which your brand's marketing message and products can reach the masses, and in a rather unique way.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
