Live Stream Ecommerce: The New Ultimate Way to Selling Online
You’ve probably heard of the latest live commerce trend that has been picking up momentum in response to the 2020 pandemic. With more people than ever before tuning in to videos from the comforts of their homes, it’s becoming increasingly important for businesses to tap into the live stream ecommerce market.
If your business is looking to up its online selling game, live stream video shopping is the ultimate way to sell online, as you will see in this article.
What Is Live Stream Video 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 streaming
involves an online platform rather than television broadcasting. This gives
businesses and viewers the flexibility to broadcast any time, anywhere.
Live Commerce Trends
Live stream video shopping has taken up the ecommerce world by storm, with video streaming projected to make up a shocking 82% of content on the internet by 2022, according to Cisco’s Annual Internet Report.
But, that’s not all. Here are a few notable live commerce trends from Cisco’s report that highlight the importance of this growing market:
In 2023, there will be an
estimated 5.7 billion mobile users worldwide. That’s 71% of the population.
In North America, 92% of people
will have access to the internet by 2023.
From 2018-2023, internet users are
predicted to grow from 3.9 billion to 5.3 billion, respectively.
Common Live Stream Platforms for Ecommerce
Almost no corner of a successful online
platform lacks features for live streaming. Instagram, Facebook, YouTube,
Twitter, and even Amazon have stepped up digital marketing features to include
live streaming technology for their users.
While these options are free, businesses hoping to make a true profit online might feel the stifling effects of poor video quality, high latency times, limiting monetization options, and more when using live streams on these social media platforms.
Live Stream Video Shopping Solutions
To maximize the potential of live streaming for ecommerce, the best solution is to use a live streaming service that has customizable, integrated features that give your business the tools it needs to successfully sell online.
An example of a live streaming service would be BeLive Technology. Their white-label service covers building a complete live streaming platform for businesses or integrating their exquisite technology into your existing platform.
Having the right live stream technologies
means that you can:
Incorporate monetization features that allow you to earn more
Increase engagement in your viewers, making them more likely to watch and shop
Improve the quality of your videos, including low latency and high-resolution videos
Customize your channel to your business’s needs, and more
Let’s go over each of these points in
While your live stream can be used to make direct sales from your viewers, you can also use live streaming to create subscription plans, pay-per-view services, and customized ads to make even more sales.
One major perk of using a paid live streaming service is the ability for users to view catalogs and check out products in-stream.
Internet users expect to see videos for the
products they buy, especially if they can’t go in-person to make that decision.
By showing off your products in live videos, they’re more likely to make that
Improve Video Quality
If you’ve ever tried using social media for
your live streams, then you may have been surprised to see major lags and a
video that lacks a crisp, clear resolution. This is because many social media
platforms cap their resolution capacities at a low quality to make it easier to
broadcast on their servers.
In other words, your live stream can
actually do your products harm by displaying products in a low resolution if
you use free social media services for your live stream.
If you go about your marketing strategy
with live stream solutions, however, you can expect to see an increase in sales
due to the high-quality resolution and superior streaming capabilities of
platforms designed with live streaming in mind.
Customize Your Channel
Having your own live stream for ecommerce
means that you control the content coming up on your platform. Compare this to
live streaming on a social media platform, where viewers are exposed to news
feeds, instant messenger, advertisements, logos, content that is determined by
algorithms, and other factors that prevent your viewers from sticking around.
The online world is constantly changing, but one thing remains certain: live stream ecommerce isn’t going anywhere. If your business is ready to make that next move, contact BeLive Technology for a free consultation.
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.