10 Surprising Facebook Live Stats Entrepreneurs Need to Know in 2023

As a small business owner trying to cut through the noise online, you need to leverage every possible advantage when it comes to marketing. One medium that delivers results for SMBs is Facebook Live video.

I‘ve helped dozens of small business clients grow their reach and revenue with live streaming. Based on their success, combined with the latest market research, I can confirm Facebook Live is not just a fad – it‘s here to stay as a pivotal tool for entrepreneurs.

Don‘t just take my word for it. Here are 10 current Facebook Live statistics that surprised even me and demonstrate why you need to incorporate streaming into your content strategy:

1. 75% of Marketers Now Use Facebook Live

When Facebook Live first launched back in 2016, it was a novel new feature that few understood. But the format has caught on rapidly. According to 2022 figures, an incredible 75% of marketers now leverage Facebook Live as part of their social media approach.

Just two years earlier in 2019, that adoption number was only 35%. So usage has essentially doubled in a short period of time. It is clear that Live has moved beyond an experiment and into the mainstream.

Key Takeaway: Don‘t get left behind this crucial format – the majority of your competitors are already embracing it to connect with customers.

2. Brands See 6X More Engagement with Live Video

One consistent data point that keeps coming up regarding Facebook Live is that it drives dramatically higher engagement compared to traditional posts. Specifically, company pages that utilize live videos see an average of six times more interactions per post than those sharing static videos only.

Some of that comes down to the interactive nature of the experience. But it is still an astounding stat that demonstrates the ability of streaming to command attention.

Key Takeaway: If grabbing customers‘ interest and building community around content are priorities, you need to be streaming.

3. Just 1% of Businesses Go Live Daily

Given the enthusiastic adoption of Live among marketers and proven benefits for engagement, you would expect daily usage for brands to be high. Shockingly however, the data shows only 1% of businesses are streaming daily on Facebook.

The more common approach is posting live casually – 25% will create a live video monthly. But to build organic reach over time, frequent and consistent streams are critical. This presents a major area of untapped potential.

Key Takeaway: Committing to an ongoing streaming schedule will give you an advantage on the 99% of brands not going live daily right now.

4. Live Videos See 10X the Comments

One of the pillars of social media is to facilitate audience interaction. So it comes as no surprise that Facebook Live significantly outpaces regular video when it comes to driving comments: Live videos generate over 10X more comments on average.

Viewers recognize company reps are standing by ready to engage with them in real-time during streams. This greatly incentivizes them to ask questions or post reactions where they otherwise wouldn‘t bother on traditional posts.

Key Takeaway: Embrace two-way conversations with customers – it helps humanize your brand and build loyalty.

5. Adoption Surging Among Young Users

While Facebook usage continues to skew older in general, that trend is changing rapidly when it comes to Live video. As of 2022, a full 63% of 18-34 year old Facebook users report watching Live streams. This indicates strong early adoption among the platform‘s younger demographic.

Many millennials and Gen Zers grew up streaming video games or personal events online, so interacting via live video feels second nature to them.

Key Takeaway: Live video represents an opportunity to better resonate with younger audiences in an native format.

6. Viewers Prefer Live for Product Launches

For eCommerce brands announcing new products, Facebook Live has become the medium of choice for customers. Research by Rival IQ shows a full 72% of viewers now prefer live video for virtual product launches rather than pre-recorded presentation.

The sense of excitement, exclusivity and realness of seeing upcoming inventory debuted in real-time is what drives this preference. Savvy SMB e-tailers have embraced live shopping trends from Asia and now use streaming to drive huge spikes in conversion rates.

Key Takeaway: Don‘t just tell customers about your new products – show them in an engaging live reveal event!

7. Gaming Streams Doubled in 2020

While gaming likely does not apply to all small business owners directly, the growth of game streaming still provides some broader industry insights. When the global pandemic sent millions indoors looking for entertainment in 2020, Facebook saw double the viewership for live gaming streams on their platform.

And with gaming influencer culture and eSports having a moment, don‘t be surprised if you see SMBs selling gaming accessories, equipment, or custom gear incorporate streaming into promotions.

Key Takeaway: COVID accelerated live video adoption across entertainment verticals – demonstrating Facebook‘s ability to drive an audience.

8. Wednesdays at 11 AM Sees Peak Engagement

As you begin planning Facebook Live streams to promote your product launches, sales or other announcements, keep the following stat in mind. Sprout Social found Wednesdays at 11 AM local time sees the highest viewer engagement across the board.

So while you can and should stream at whatever times work for your business operations or audience availability, use 11 AM middle of the week as a starting point or benchmark to compare performance.

Key Takeaway: Not all stream times convert equally – track analytics to find your audience‘s sweet spot.

9. 80% Prefer Watching Over Reading

Customer attention spans online get shorter by the year, so it‘s no wonder video content now vastly outpaces text-based alternatives. Exactly 80% of users now say they prefer watching live video over reading blog posts or social updates.

This migration will only continue as video technology improves and streaming becomes second nature even for older demographics.

Key Takeaway: Video adoption is reaching critical mass – transitioning a portion of written or static media offerings to live will soon become a necessity, not a "nice to have."

10. 330% Increase in Live Video Search

The final surprising statistic demonstrates just how quickly public fascination with live video has exploded in recent years. Analysis shows searches around just the phrase "live video" itself have increased 330% on Google since 2016.

Not only are more people streaming on platforms like Facebook, consumers actively want to educate themselves on formats and best practices before joining the craze!

Key Takeaway: Live video interest continues its hockey stick growth trajectory thanks to boosts in creation and consumption.

I hope examining these 10 real-world data points from various reputable studies and benchmarks has opened your eyes to power of streaming.

You simply can no longer ignore this high-impact medium if you want to grab customer attention in a competitive marketplace.

The good news is that Facebook Live represents a free tool to help small businesses strengthen community, demonstrate expertise, promote events or offers and drive website traffic.

Based on the success I‘ve facilitated for SMB clients, combined with adoption trends, Facebook Live will soon become as commonplace for brands as simple text-based posting.

Don‘t allow yourself to get left behind the strategic content curve. Now is the time to formulate a plan of attack and begin incorporating live streams as a pillar of your social and digital activity. Let me know if you need any help brainstorming ideas or best practices – I‘m always happy to offer pro bono advice to small business owners eager to maximize their marketing results!