The COVID pandemic changed the face of the world overnight. As everybody was locked in their respective houses, they resorted to the internet for almost everything. This opened up endless possibilities for online businesses around the globe, especially for e-commerce.
The various e-commerce brands and companies opted for technologically-advanced solutions for boosting their sales. The most widely used and accepted trend was Live Streaming Commerce.
Live stream commerce or Live stream shopping was successful in capturing audiences and converting them into long-term customers. But what is live commerce? Let’s find out.
Going by the past figures, in 2019, Singles’ Day has resulted in shipping over 1.66 billion parcels Alibaba sold over $38 billion of products. Collectively, this adds up to $9.4 billion in sales.
It is often argued that live stream commerce is not well adapted to the countries except for China. That might be true, but at the same time, it is undeniable that live shopping has the potential of being utilized in other western countries like the USA as well.
Benefits of Live Online Shopping
Live streaming commerce is a tried-and-tested method that helps in generating sales and increase the profit margin. The following are some of the benefits of live commerce:
Trust and Credibility
Even on a general basis, people trust videos more than they trust a static image. If we apply the same logic in shopping, people put their faith more in videos. When product demonstration is done in an informative manner, viewers are ready to grab that product as they feel satisfied by a visual demonstration. This makes viewers trust your products and your brand.
Likewise, a simple image might not be convincing enough to convert a viewer into a potential buyer. At the same time, when live streaming is held to demonstrate, showcase, or launch various products or services in real-time, people feel a connection with a host and a brand. This further nudges them into making a sale, thereby increasing the profits.
Reach and Engagement
Reach and engagement levels are important factors, irrespective of a brand or type of business. If an e-commerce brand is unable to gather and keep its targeted audience hooked to its products or services, it would certainly fail to make profits.
The best way to generate reach and engagement can be through live commerce. Even a simple conversation between a host can spark a connection that can attract more viewers.
Additionally adding fun elements like conducting a Q&A session, inviting an industry expert, running live polls, or offering flash sales or discounts can further make the whole live stream more interactive and engaging.
How to Successfully Establish Live Commerce for your E-commerce Website
While live commerce might sound enticing, it needs to be done in a certain way that it helps you gain more customers and accelerate sales. You can take the following pointers for reference:
Understand your Target Audience
Before you start making content for your live stream, it is necessary to research your audience. This can be done by understanding your products, the value it adds, and for whom it is intended. This can differ according to gender or age group. Such basic information can go a long way in determining your marketing strategy. Once you are familiar with your targeted audience’s demographics, you can alter your live streams accordingly. It is crucial to give the audience what they want to see and buy.
Introduce Q&A Sessions
Besides introducing and showcasing the products, a live stream can also have other components like a Q&A session. Often, it is seen that when the customer’s doubts or queries are solved, they are more inclined towards purchasing a product in question.
As the name suggests, simulcasting is the simultaneous casting of a live stream on different platforms. This helps you reach a greater number of viewers as you are streaming on multiple channels at the same time. For instance, you can stream via your live streaming e-commerce platform and at the same time, you can stream on other social channels.
Influencer or celebrity collaboration
Inviting an influencer or a celebrity to your stream can help you create a buzz for your Brand. People love to hear and see such influencers and what’s better can be inviting them for a product launch, demonstration, or an informative session.
Channelize.io live streaming commerce solution can help you build your brand or upgrade your brand. Our solution can help you reach a greater audience, promote your brand, increase your brand awareness, and ultimately meet your sales goal.
If you are a Shopify owner you can install our Live Stream Plugin for Shopify and video stream effortlessly.
You can get in touch with us at firstname.lastname@example.org and understand our solution in depth.