Livestream shopping, also known as just “live shopping,” is a marketing technique in which a host, typically an influencer or celebrity, advertises a product live on camera.
It is comparable to home shopping TV shows where a person explains how to use a product, but here, as the name implies, all interactions between the host and the audience are entirely live.
What is live shopping?
Livestream buying differs from conventional internet purchasing because it is unfiltered and involves the live audience and host interaction. In contrast to traditional internet shopping, viewers can comment or ask questions, and the host or hosts can respond while they demonstrate or evaluate a product.
Gamified content, such as promotions and freebies, is frequently provided to the viewers during these live streams, but only for a limited time. This method of Livestream buying is particularly effective since it emphasizes the sense of urgency brought on by scarcity or restricted availability.
Furthermore, the dread of missing out on a potential bargain increases with the size of the audience watching.
The Benefits of Live Shopping
Still, are you not sold on the idea of live shopping?
Take a look at five of the most significant benefits of live shopping for your business:
Simply put, there is too much stuff available. Your potential clients are constantly inundated with emails, adverts, and new brands.
How can marketers keep their audience interested in light of declining attention spans and an increase in demand for individualized experiences? If nothing else, the rising popularity of live shopping shows that consumers are eager for novel experiences.
In addition, compared to other types of material, video content has better engagement rates. Consider this: People are twice as likely to share videos with friends compared to different kinds of material. Live shopping also allows your customers to communicate with you in real time. These elements all help to increase engagement rates and, consequently, sales.
Quickly Generates Massive Sales
You may expose your product to hundreds or even thousands of individuals in just a few minutes if you effectively publicize your live shopping event. In addition, once they start enjoying themselves, your viewers might invite others to join in.
Here is an illustration to help you understand the potential of live retail:
A celebrity jeweler sold $120,000 of gold-colored vacuum sealers on the video-buying site NTWRK in just five seconds in 2020.
You did read that correctly.
If live shopping is done correctly, there will be no turning back.
Builds Brand Awareness
Get in front of your target audience to effectively increase brand awareness. And live shopping networks will assist you in doing that.
Additionally, the participatory aspect of live streams dramatically improves the chance your audience will remember you. Additionally, having a celebrity or influencer conduct your live shopping event can significantly increase customer popularity and brand recognition for your company.
Encourages Impulse Buying
Live shopping differs from eCommerce in that it gives the impression that the buyer is a part of something significant.
Customers frequently buy something they didn’t intend to maintain this sense of belonging.
People who suffer from FOMO (fear of missing out) are more likely to make impulsive purchases (FOMO). A live shopping experience may cause viewers to experience FOMO in the following ways:
- They observe numerous viewers of the live show making purchases.
- The goods may only be on sale while the live event continues.
- It’s being promoted by someone they truly look up to.
Long story short, live shopping is deeply rooted in feelings of urgency and excitement, which paves the way for a fun shopping experience and, thus, more sales.
Can Put Underperforming Products in the Spotlight
Do you have things that are just gathering dust in your storage space? Live shopping events have the power to turn underwhelming goods into bestsellers.
Determine the most likely causes of the product’s failure to sell.
Is the price too high?
Is using it too complicated?
Live feeds can then be used to give it the push it needs in that regard.
And that isn’t all.
Sales can be increased by stating that the products are new and that online viewers might be the first to use them. Because of this, prospective customers will perceive themselves as trendsetters.
Who wouldn’t enjoy that, too?
How to build a successful live shopping campaign
Live shopping videos require more than just lighting, camera, and activity to succeed. Yes, it would help if you had the appropriate tools (such as a smartphone, tripod, and superb lighting) and shopping sources.
But it also necessitates taking the right actions to ensure the event’s success. Remember when organizing your first (or subsequent) live-stream shopping event.
1. Use a likable influencer.
Working with a famous, approachable, genuine influencer is wise if you represent a brand. Because people are more trustworthy than “brands,” consumers prefer to interact with them. Develop a relationship with your audience before using someone from your firm if you decide to do so.
2. Make the event entertaining.
No one logged in to see protracted advertising. People will leave the stream faster than you can blink if you come across as being overly commercial. Create a conversation starter plan with enlightening advice and entertaining ideas. For instance, if you sell baby clothes, arrange a fashion show for the little ones.
3. Offer an exclusive deal.
Turning your live stream into a VIP shopping experience can draw viewers quickly. FOMO is real, especially if there’s a chance to see the debut of a brand-new item or collection. People will tune in more frequently if you inject an “event” into live shopping. It works best when you give it a sense of urgency and a unique discount.
4. Be spontaneous with flash sales.
Hosting sporadic flash sales on live feeds is the ultimate “watch me closely” tactic. It keeps fans alert and carefully monitors your stream to ensure they don’t miss out. To be notified anytime you go live; they’ll even click the notification button, increasing viewership and revenue. Make discount codes to distribute only during the live stream.
5. Co-host with other creators
There are two methods to do this: either you use another influencer’s audience because they have more followers than you, or you collaborate with a business or influencer with a similar following to increase viewing.
In any case, ensure the other creative will agree to collaborate by offering them something in return. The guest host may choose a favorite product from your brand to highlight or introduce a fresh product they have tried and tested (like a testimonial).
6. Provide a product tutorial or DIY session
This works best if you have a product that buyers can either use in various ways or don’t know how to use. Brands frequently share advice on how to apply cosmetics and accessories in the fashion and beauty industries. This demonstrates the high caliber of the product and gives customers assurance that they can use it.
How Can You Get Started with Live Shopping?
Now that you’ve seen live shopping and why it’s a goldmine for business owners, you probably want to know how to get started.
Let’s find out.
You will require the following to hold a live shopping session:
A host or presenter, a platform to hold the session on, a product or service to promote, and an audience. Additionally, it could take some trial and error to figure out which products you should highlight during a live session.
Identifying the stage of your product’s life cycle is an excellent place to start. Do you want to increase sales of your best-selling item, get user feedback on a novel offering, or improve a struggling product?
Considering your short-term objectives, select the products you want to highlight. The next thing you need to do is decide who will present the live session.
You or a team member can host the session if using your product requires some technical knowledge.
As a result, you’ll have an advantage because you can best respond to your product questions. On the other side, you can work with an influencer to increase your company’s exposure. Celebrity endorsement benefits are nothing new and should be taken advantage of.
Let’s look at an illustration:
In May 2020, Tommy Hilfiger held its first-ever Livestream shopping event. The firm invited Swiss model Manuela Fray and other distinguished guests to host the event. This ensured they received widespread attention and had a successful debut.
And finally, if you want to go all out, you can combine the best of both worlds and have an influencer backed by a shopping assistant host the event. In the next section, we’ll touch upon the last two points — live shopping platforms and building an audience. Keep reading.
Live shopping events require a lot of organization, even though they are spontaneous and in the moment. Since there are no retakes or editing, there is no space for error.
Because of this, it’s a good idea to plan and practice the entire session in advance. Determine if you’ll host a lengthy live stream or a brief one.
Next, choose how the event will be organized.
Will there be product demonstrations? Will there be a Q&A?
Additionally, will the products’ display period be restricted in some way?
Or will customers who buy during a specific window receive coupons?
Remember — no approach is wrong. It’s all about finding out which one is more right for you.
In any case, live shopping brings great anticipation and spontaneity, nurturing a sense of connection that you wouldn’t find in traditional online retail.
Whether this is your first or thirty-first live-streaming shopping event doesn’t matter. Every single one should seem mandatory.
Otherwise, your thoughts and engagement will be ambiguous. Create a plan much like you would for a blog. For each live stream, add content ideas to your schedule, focusing on the themes, products, and interactions you’ll have with your audience.
More individuals are likely to watch your buying experience if it is fun and engaging. Always keep in mind that providing shoppable content is all about your audience. To make your streams more enticing, research their hobbies and tie them in.
All the best to you!