Livestreaming is when media is recorded and broadcast simultaneously, allowing viewers to watch it in real time. Livestream and New York Magazine conducted a survey that found that 82 percent of customers prefer brands using live video over any other medium in their social strategies. The impact of live streaming has only just begun.

Live video is slowly but surely altering the way businesses interact with consumers. At the click of a button, users can look at a product, view a demonstration and decide whether or not they're interested in making a purchase. Viewers reportedly spend longer on live streams compared to regular video, perhaps because no other form of social media allows for such immediate communication.

Most live streams allow users to comment or react with emojis for even further connection. Search Engine Journal did an entire study on live video, using its own audience, and found that there is 178 percent higher engagement when it incorporated live streaming on Facebook videos. If companies aren't using this feature as part of their social media strategy to bring in more traffic, they're missing out on revenue.