The new guide by Instagram on live streaming in the app may also be another factor in your brand outreach and awareness among your IG audience.
Instagram's live guide goes through the basics with ways on how to go live. It has given guidance on scheduling your own broadcast and how co-hosts can further facilitate live chat and engagement.
And Instagram also shows just how Live notifications work, and exactly how one can use this to advantage.

According to Instagram:

"It will notify all your followers or Close Friends depending on the audience you select that you're live, allowing them to join by watching and commenting on your livestream.". Once you are finished with your broadcast, the video will be saved to your archives automatically if you have Live archives enabled in your profile settings before going live, but you can choose to save it into your camera roll or share it as a reel on your profile.

According to Instagram, live streaming gives you a lot of engagement benefits: actual real-time interaction, "a chance for authentic connection" by revealing your personality, and also more content for your IG feed.

Instagram further recommends the following to optimize your use of your IG Live stream:

Content planning: Some days you just want to express your mood. Other days you might have a new song you've been working on or something else that's been in the works. In such times, planning helps you keep focused on what you want to share.
Promote your broadcast beforehand so that followers can set reminders and join you live.
Engage your viewers: Interact with them by responding to comments and questions in real-time for the viewer to feel connected and heard.
Be yourself: Bring out your real self and let your personality shine through. Authenticity fosters more love and deeper connections with the people you love.
To make the feature even more functional, Instagram has also added notes for using extra Live features to amplify an experience, such as filters and effects, fundraisers, and sharing images within a broadcast, among others.

There are some great tips here, and if you're looking at how to drive IG performance during the holiday season, IG Live could be a very useful outlet when done correctly. And with new features added to the process, there are more ways to interact with your fans and followers within a live stream.