With the rise of the live-streaming market and the emergence of apps like Periscope, many marketers wonder how it will affect the world and change the way people connect with one another through tech.
The Gartner’s Hype Cycle is dedicated to tracking and analyzing different aspects of technological advances and how likely they are to mature and/or fail. The research brand creates easy to read illustrations estimating the time it takes for each technological advancement before it reaches its “Plateau of Productivity.”
How does periscope compare regarding maturing and reaching its full potential?
Many people might think that Periscope is a long way from its Plateau of Productivity because it was launched only a few years ago, but I believe that Periscope is only 3-5 years away from reaching its true potential. Its relationship with Twitter is a tremendous advantage for the brand in the Live-Steaming space. Twitter has an already established infrastructure and a database of 313 active monthly users that Periscope is already leveraging to grow its platform. Another reason I believe that Periscope will reach it’s full potential soon is because from a marketing perspective, Periscope is simpler and more refined than its competitors. Being that it’s been around longer than it’s competitors, Periscope has had 8 updates to fix functionality and design imperfections. Periscopes ability to recognize that it’s product has flaws and willingness to work with users and developers to overcome these flaws is yet another reason why I believe it will reach it’s full potential soon.
Brands currently using Periscope for Marketing
Gartner also takes in account how much reach and engagement a company has with brands thus it’s imperative we look at companies that are using Periscope and have found great success.
Just a few weeks after Periscopes launch, top brands like Spotify, Red Bull, Coke, IHG and Mountain Dew were already live streaming with their fans. Red Bull for example, rather than promoting their own product, used Periscope to engage with their customers in a way that reflected their brand image. They’ve even used the platform to broadcast their Red Bull Guest House event where they hosted “ultra-exclusive weekend-long party in Miami Beach”. I can’t think of a better event for live streaming!
But that’s just me. What do you think? Do you think Periscope will reach it’s true potential soon or later? Post a comment below and let’s talk about it!