Social media has changed the way we live, eat, travel and shop, but most importantly, how we market our products. Social media is becoming increasingly accessible via the smartphone; you can check Facebook or Instagram to get the latest news or trends. However, how to utilize social media to reach its maximum potential to drive revenue, becomes many marketers’ biggest focus.
According to the eMarketer report, “the social network ad revenue worldwide is about $32.91 billion in 2016. For 2017, the value will rise to $41 billion. Total social networks ad spending is increasing by 24.4% in 2017.”
In China specifically, Sina Weibo, as the number one social media platform, is leading the market with 36% annual increase in revenue. Among all the social media platform activities, short, live streaming video is most popular. We call this kind of video “zhi bo” in Chinese. “Zhi bo” was first popularized in Korea. It was a big success when it was first launched. Many young people were live video streaming when they were eating in a restaurant, with food they wanted to share, or out playing with friends in social situations. These kinds of live video streaming platforms also enable the viewers to directly communicate with the hosts, by typing on your phone or computer and the hosts will able to see all the conversations.
Now the concept is well adopted by the Chinese, and we also added more features to the “zhi bo” platforms. For example, you can send some “gifts” virtually or vote coins for the host that you like the most. Some small business entities like to hire these “Internet Celebrities” who have lots of followers to represent their brand and promote their products during the video. This is when Internet live short video streaming can lead to business revenues. Some “Internet Celebrities” are estimated to have advertising value of over a million dollars, so it could be a costly investment for companies to hire them to represent their brands, but potentially it has a very high return on investment.
Although “zhi bo” is still a very new concept to the older generation in Asia, there is no doubt that it is a trend in the future. “Zhi bo” can be easily accessed on mobile apps. (Of course in the USA this concept is also growing in popularity with live streaming services like Periscope and Facebook Live.)
Chinese Naming Tip: “Zhi Bo” was definitely one of the hottest terms in China 2016. For that reason, zhibo.club has already been registered and is no longer available. However, there are still many opportunities to create great names that incorporate the Zhi Bo concept. For example, yulezhibo.club, means entertainment live video streaming. Wanggouzhibo.club, means online shopping live video streaming. Dianyouzhibo.club, means computer game live video streaming (like what you might see on Twitch.tv). You get the idea. Also, since “zb” is the abbreviation for zhibo, if you’d prefer shorter names, you could also pick yulezb.club, wanggouzb.club, dianyouzb.club, etc.
Live streaming is big in China and growing throughout the world, so a “Zhi Bo” domain name may be a good start.