Live Commerce: How ECommerce Businesses Can Benefit From Live Video Streaming
Over the past years, the internet has become accessible, and online payment has been secure. These technological advancements and online shopping have led to the growth of Ecommerce businesses. Ecommerce businesses have proved to be successful because it gives the flexibility for the users to shop from the comfort of their home. It also made selling products easier for businesses.
Ecommerce businesses have started integrating live video streaming as a marketing strategy to increase sales and create brand awareness. Live streaming the product of the Ecommerce business is the next big thing in future. It gives the ability for a consumer to buy a product of their choice from a video.
What is Live Commerce?
Live Commerce is live streaming of ecommerce businesses and is used for increasing sales, brand awareness, and other marketing purposes. Live Commerce leverage the power of video content to sell the product and makes shopping a lot more convenient and personalized.
Benefits of Live Commerce
Increases Engagement
More people like to watch videos from a brand rather than reading a blog. Live streaming makes viewers feel like they are more connected with the brand. When a video is being live-streamed, it creates fear of missing out (FOMO), so it urges viewers to buy the product.
It gives you feel like real-time shopping experience
In recent times, many people like to shop online, but some people prefer to buy products in person. Some people firmly believe that pictures don’t show the quality of the product. With live video streaming of the product and person using the product in the video and showing multiple views of the product will give a better idea for consumers
Easily Affordable.
It is possible to live stream video with mobile or tablet. You can live stream video on different social media, and it is better to have an independent video streaming platform to stream video to the consumers. All you need to do is pay money to a video streaming platform provider to build a video streaming platform. With the live streaming app or website and with the product set, you can start streaming immediately.
Helps in reaching customers effectively.
Livestreaming the products engage the audience in ecommerce in the most effective way with different media content formats like video, images, audio, and live chats.
Increases sales and conversion
Live streaming ecommerce gives the consumer to connect with the product on a more personal level. Showing the demo of the product and different views of the product will make users buy the product.
Who can use Live Commerce?
Any business that follows an e-commerce model and sells products online can use live commerce. E-commerce websites like Amazon and Alibaba have incorporated the live streaming feature where sellers can show the product. Video player comes with a link directed to the product and other live chat features where views can interact.
Businesses running an independent ecommerce site can also incorporate live video streaming facilities into the website with the help of a video streaming platform provider. Companies can live stream on different social media sites. Live streaming on your website gives complete control over the video rather than streaming on social media sites.
Uses of Live streaming in ecommerce
There are many ways live streaming is used in ecommerce. Now, let’s look into common uses of live streaming in Ecommerce
Influencer Marketing
Influencer marketing is the one way where ecommerce brands promote their product through famous public figures like actors and sports persons etc according to the target audience. Live video streaming with influencers boost video engagement twice. Businesses partner with influence post images and video using the product. Use influencers to unbox the product and co-host live streams with influencers on your platform. This helps build brand image and will also influence the user to buy the product.
Live auctions
Online auctions have been popular in recent years, but due to Covid 19, online live auctions have been so popular. Live auctions have connected all bidders around the world who have been unable to attend the auction physically. Real-time live auctions may put pressure on bidders and urge them to buy the product, resulting in increased sales.
Live Events
Live streaming of ecommerce events like a product launch, fashion shows, limited-edition releases, and other major events allows the guest to attend online who cannot be present in person. This will enable users to buy the product in real-time during live events.
Strategies for making the most using Live Streaming Ecommerce
Create excitement and join hands with influencer
Making posts like a teaser for your live streaming video for a product launch or some exciting news will ensure that enough audience is present for live streaming.
Make sure that you choose an influencer related to your brand so that you both share a target audience. It helps increase the brand image and following of the business.
Keep the audience engaged and give offers.
Create engaging video content so that users stick up with the video until the end and will create a connection between user and brand. Use a live streaming platform that comes with live chat features to get in touch with consumers. It is better to give some offers and promo codes for the user for attending the live sessions as it may help in increasing online sales.
Conclusion
Live streaming of the Ecommerce business is growing at present. Any business should take the benefit of live streaming to scale up the business to the next level by increasing sales and brand image.
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