How E-commerce Businesses Can Improve Sales with Live Streaming
If there’s one thing we’ve learnt from the COVID19 pandemic, it’s that online shopping is inevitable. This is both good and bad news for e-commerce businesses. The good news is that there will be more potential customers. The bad news is that more businesses are looking to pivot to the online realm, which means more competition. Following this, e-commerce businesses have begun to integrate live video commerce into their marketing strategies to improve their sales and the perception of their brands.
What is Live Shopping?
Have you ever watched a QVC show demonstrating the functionality, appearance, and qualities of a product on TV? The live commerce trend uses a similar method for broadcasting services and products to viewers across the world.
The main difference is that live shopping is done on a live streaming platform rather than television broadcasting. This gives businesses and viewers the flexibility to broadcast any time, anywhere.
Benefits of Live Streaming for E-commerce
Live streaming is highly beneficial for e-commerce businesses due to a number of reasons:
Customers can see your products up close.
What makes live shopping stand out from normal online shopping is its real-time element. Similar to shopping in a store, live shopping lets viewers see the products from more angles through live stream video.
Additionally, live streaming shows raw and unedited products, as opposed to e-commerce platforms that might make edits to the product images.
It establishes trust and authenticity.
Live shopping is much more engaging because it makes viewers feel like they are part of more intimate discussions with brands.
The real-time nature of live streaming can help your viewers feel like they are on a video chat with a friend rather than watching a heavily edited pre-recorded video.
When a video is being streamed live, it creates a bit of “FOMO.”. Viewers don’t want to miss out and are likely to direct their attention to a video that may not be available at a later time. This essentially grows your audience, too.
Tips for Making the Most of Live Streaming E-commerce
Involve the Audience
Most live streaming platforms have live chat. Use it! Respond to the questions that are sent in, interact with your viewers’ comments and feedback. This makes your audience feel valued and can convert into paying customers.
Get Influencers or KOLs in
We live in the golden age of influencers. However, this doesn’t mean you should engage any popular influencer. Your influencer should be closely associated with the product you are promoting and aligns with your brand’s core values.
Live video shopping is the future, so if you’re ready to plan ahead, now is the time to get started.
Is your business looking for a flexible live streaming solution with a quick turnaround? BeLive Technology covers a wide variety of solutions for any industry. Contact BeLive Technology now.
BeLive has been a key player in the live streaming industry since 2014 with offices in Singapore and Vietnam. We developed and ran our own live streaming mobile application, which is how we know what is best for you.