Live stream shopping, a growing trend is being extensively leveraged in eCommerce for sales, marketing, branding, and much more. B2C and B2B eCommerce brands are leveraging this technology to connect with their audiences to increase sales and build brand awareness. In recent years, internet accessibility has increased and online paywalls have become more secure. Hence Live video shopping coupled with changing customer shopping behaviors has led to the rapid growth of eCommerce.
Live Shopping business model has proven to be a success because it accommodates buyers by giving them the ability to shop from the comfort of their homes. It has also resulted in a reduction in overhead costs since it no longer requires businesses to maintain a brick-and-mortar store. Hence more and more D2C brands have begun to integrate live online shopping into their sales and marketing strategies as a tactic to improve their revenues and the perception of their brands.
Our goal in this blog is to walk you through everything you need to know about live commerce. Before diving into how to apply live-streaming shopping solutions to your business, we will explain just what it is and why you should use it.
Live video shopping is an innovative tactic for online selling with several advantages.
Live commerce is the usage of live video streaming technology that allows consumers to purchase listed items during a live stream shopping show.
Businesses have only just begun realizing the advantages of live online shopping. Using this content medium in sales, marketing, and branding can help you to connect with your audience in ways that text, images, and other static content cannot.
Let’s briefly examine some of the notable benefits of live stream shopping.
Did you know that 80 percent of customers would prefer to watch a brand’s live shopping show than read a blog post? Live streaming shopping is more engaging because it gives viewers the impression of being a part of more personal conversations with brands.
The real-time aspect of live video shopping can help your buyers feel the brick-and-mortar buying experience rather than watching a heavily edited pre-recorded video.
When a live stream shopping show is broadcast, it generates a sense of “fear of missing out.” Viewers don’t want to miss out, therefore they’re more inclined to focus their attention on products that won’t be accessible later.
There are still some consumers who like to buy products in person by visiting brick-and-mortar stores. Often, pictures and descriptions do not accurately portray the quality of a product, which causes some people to feel doubtful about products.
Apparels, jewelry, shoes, etc are some of the major products that consumers like to buy in person because photos can make it difficult to really see the fit, fabric, and quality. Consumers, on the other hand, get a better sense of products when hosts or influencers wear items in real-time and demonstrate the benefits.
During the COVID-19 lockdown, these benefits have been particularly useful for shoppers who prefer to shop in person without going through a website or app.
Customers may have more in-depth conversations with brands and interact with other customers through live stream shopping. Livestream eCommerce is better than merely surfing online because of the customization aspect. Rather than conversing with chatbots on a website, buyers prefer to have things sold to them by humans.
- Easy to Adopt
For leveraging a live shopping platform, there’s no need for any technical know-how whatsoever with such an intuitive platform host needs to just simply download the broadcaster app and start selling live.
Because Livestream e-commerce has so many possible applications, it’s critical to figure out which best practices are most appropriate to yours. That’s why we’ve put together a list of live commerce best practices. Let’s have a look at them.
- Build Up Excitement
Building anticipation for a live stream shopping show is a fantastic approach to ensure that customers turn up. Make postings leading up to your live shopping show to tease the announcement of a new product or product line. Make your live shopping show’s material feel like insider information that your viewers won’t be able to refuse.
Influencers can play a major part in live online shopping. Use collaborations strategically so that you can leverage the popularity and influence of such public figures.
Make sure that the influencers you choose share your brand values and a target audience.
- Involve the Audience
Keep audiences engaged in your live shopping show in order to keep your viewership up and to make more meaningful connections.
Using a live stream shopping platform like Channelize.io that supports a chat feature is a great way to get the audience engaged. You can also be interactive by asking your viewers questions or performing other interactive activities. Channelize.io also offers pre-built integration for Shopify. Now Shopify owners of all sizes can install our “Live Shopping & Video Streams” Plugin and go live.
If you want to know more about live commerce or want to get started, do not hesitate to contact us at [email protected]. We would be happy to help you with everything you aim for.