Many entrepreneurs feel pressured to have a presence on every social platform, which can be an incredible drain on time and resources. And each time those platforms come out with a new feature--Hello, Instagram Stories!--there's added pressure to expand their social media strategy even further to include that new capability.

Given the heavy demands on every entrepreneur's time and attention, it's important to evaluate what your presence on a given platform or use of a new feature will actually help you accomplish. You don't want to "be there, just to be there," but rather, should choose to focus on those platforms and features that get your closer to your goals.

To help figure out the role that Facebook Live streams can play in an entrepreneur or small business owners social strategy, I talked to Nick Cicero, Founder and CEO of Delmondo, a video analytics software platform and creative studio and the official Facebook Media Solutions partner for Live measurement.

1. It's a Great Way To Experiment

While the "on the spot" nature of Live streaming can be intimidating--especially if you're not used to being on camera--it's actually a huge opportunity to have an authentic conversation with your audience and receive real-time feedback.

Whether you're asking questions about your current offerings, soliciting votes from options you're considering, or just measuring emoji reactions to different topics and visuals during your stream, the live interaction with your audience can provide invaluable insights into what your audience likes and loves.

2. It Can Help Increase Your Following

While we know Facebook Live is a great way to create real-time engagement with your existing followers, Cicero says his data shows that it actually helps increase your following, too.

"On average, we see a significant uptick in new followers on a Facebook page after a live stream," says Cicero. As users engage with your live stream, it can trigger notifications to their friends and connections. But more often, users will share a live stream with their entire network when they see it--effectively inviting their friends to engage with and follow your page, something they may never otherwise think to do.

3. It Informs Your Future Facebook Marketing

Cicero says that running a live stream and carefully examining the performance and engagement data, allows you to "glean highly specific and detailed publisher audience data around live viewers and replay viewers, providing invaluable insights insights for future marketing on Facebook."

If you're going to market on Facebook, either through boosted posts or other ads, you might as well promote that content to the most engaged segment of your audience who has already shown that they're willing to show up for you when given the opportunity and engage with your content.

4. It Can Help You Attract Sponsors And Partners

Cicero says brands are usually willing and excited to partner with media companies, and other Pages, that have amassed a decent following and create compelling live content on Facebook.

If you can differentiate yourself and create compelling live streams for your followers, you might be a more attractive partner for a partnership, whether it's for sponsored live streams or something else. With deeper knowledge about your audience, and an engaged group of consumers waiting to interact with you, your page becomes an appealing platform for brands and partners to leverage in their marketing efforts, too.