Is LiveStreaming E-Commerce The Future Of Online Shopping?
With the rise of livestreaming, it is possible for brands to be more accessible and to draw attention to their products.
By: Sociallybuzz, Inc
With the new Live Shopping Instagram feature, brands can easily sell their products by just going live to describe what the product is all about while interacting with their viewers.
Livestreaming e-commerce has given people a chance to get a personalized experience with a brand beyond just looking at what they post online.
Livestreaming e-commerce is a new way of shopping that offers an interactive experience and a way to chat with other people watching a livestreaming event. Consumers can shop from their favorite brands and even get deals by live-chatting with them, using social media platforms to their full potential.
Consumers are turning to livestreaming for their shopping needs because it has many advantages over other ways of shopping.
For example, it provides an interactive experience where consumers can chat about products or services and get deals and discounts in real-time.
Livestreaming also allows shoppers to see products virtually and interact with the brand representatives themselves.
While livestreaming has many advantages, it does have some downsides that may affect buyers' decisions on which way of shopping to choose.
One downside is that livestreaming events cannot be held at the time of day that is convenient for all customers.
That's not a much of a deal killer since users can still view playback when they are online.
REASONS TO START MARKETING YOUR SERVICE OR PRODUCTS USING LIVESTREAMING
Higher Conversion Rate: Data curated by "Alibaba" shows that the conversion rate of "Taobao Live" content is 32%; Meaning that for every 1,000,000 Livestream viewers, 320,000 items are added to the shopping cart.
More Reach: The Facebook/Youtube live feature will showcase your live video offerings to relevant users who are more likely to connect with you. Promoting your product this way helps in reaching more customers.
More views and followers: We received seven times more views than expected and a 25% increase in our TikTok follower count after running a Live shopping even using TikTok(Walmart told Techcrunch).
Easy Sales: A couple of social streaming Apps makes buying decision easy and faster. When presenting a product or service to your audience, you can confidently trigger a clickable "Call To Action" that users can click while watching your presentation.
Partnering with Influencers makes the purchase more efficient: In May 2016, Maybelline sold 10,000 lipsticks in 2 hours through Livestreaming by partnering with an influencer, Angelabay, on Meipai.