A significant proportion of video content is increasingly going live. Learn how live streaming can help increase online sales and drive conversions for your eCommerce listings.
Benefits of Live Commerce
Live eCommerce is a winning strategy that combines online shopping, live video, and consumer participation. Consumers benefit from an in-store shopping experience with the convenience and immediacy of online shopping. Live eCommerce covers the entire consumer decision journey, which means impulse buyers are more likely to purchase through it. Live shopping also results in a product return rate that is 40% less than that of more traditional eCommerce channels.
Best Practices When Live Streaming
A successful live-streaming event starts well before the live stream. Promote the event on your social media channels, including shareable links on all your social platforms.
Have your sales representatives include links to your website, reviews, and quick answers to FAQs to help their interactions run efficiently during the live event. What KPIs to measure? Live shopping can record the number of views, the conversion rate, the engagement, and the click rate. Marketing teams can evaluate results in real time and make adjustments on the fly.Â
There is a huge opportunity to build on the live stream momentum. For example, repurpose the content for a highlight reel or add it to your product pages. If done right, viewers will continue to watch your content for years.
70% of sales from live streaming happen after the event, on replay.
Go Beyond the Q&A Format
Unleash your creativity in live streams! Tutorials, for instance, are a fantastic format that can do more than just demonstrate your product or service. They can also serve as a platform for addressing consumer queries, potentially preventing future frustrations. Remember, the more interactive your livestream, the more engaging it becomes. Other exciting online commerce events include fashion shows, holiday celebrations, workshops, seminars, and conferences.Â
Consider hiring an influencer, KOL (Key Opinion Leader), or KOC (Key Opinion Customer) host to bring larger audiences to your live stream.
For more brand-focused live streams, discuss your brand's origins or the behind-the-scenes of the product or service. Compelling storytelling brings a human element to the live retail experience and creates emotional connections for the consumer.Â
Top 4 Live Stream Platforms
Like any marketing campaign, you want to choose the right channel for your brand. Let's breakdown the features of the top four live stream platforms:
YouTube
During a YouTube live shopping event, brands can tag their favorite items in their store, offer exclusive discounts, and add polls to their chat to increase audience engagement. In addition, if you work with third-party platforms like Shopify or Stage TEN, you can connect them to your YouTube shopping account.
Meta (Facebook or Instagram) Live Shopping
When live streaming with Facebook or Instagram, you can go straight from your phone or use a more professional setup with a live streaming software called Live Producer. You can co-broadcast with others from different locations, take live polls, and have live moderation, which allows you to get an instant picture of audience engagement.
Amazon Live
Amazon Livestream uses the Amazon Creator App for desktop, mobile, and Fire TV. In addition, brands become part of the Amazon Brand Registry and have the opportunity to have a product featured in an Amazon-produced live stream or Amazon-featured product. Many live eCommerce events are also sponsored by other larger companies.Â
TikTok Shopping
When TikTok's shopping platform was released in December 2021, it made the top four live-stream channels. One of their newest features is the TikTok shopping API, which allows brands to upload their product catalogs directly. The platform also includes collection ads that are product cards within live streams. This will enable customers to easily shop from the event's listed products in your store.Â
Interested in starting your own live eCommerce?
ReelPaws will be your dedicated agency to plan and develop content for your eCommerce. We utilize the latest video technology, including 4K filming, animation, aerial work, and 3D. With an expert staff boasting thousands of hours filming animals and working with the latest technology, every aspect of our process is designed to create results for you. Check out our services on our website!