The eCommerce industry boom has increased sales capabilities in thousands of different ways. Use this guide to get the best of live shopping.
April 26, 2022
The eCommerce industry boom, since the pandemic, has increased sales capabilities in thousands of different ways. Live shopping is now the new galvanizer. So, how can you drive more revenue to your website with live streaming?
A novel concept taken from an older idea – the Shopping Channel – is this live shopping solution.
This easy format mixed in with social media excitement is the current burner, and when you throw in the weight of Tik-Tok influencers or other media stars as hosts to live events, you have a solid winner on your hands.
If you are looking for some live shopping solutions use cases, Alibaba’s live shopping App Tabao just naturally springs from the ground. Dominating the field, at the moment, is the Chinese market.
But you say to yourself, “Is this just a fad or does live shopping have substance to take the market by storm?” Tabao (mentioned earlier) generated more than 61 billion dollars GMV (Gross Merchandise Volume) in 2020, according to TDinsights. This spurred Amazon to invest in livestream shopping big time in 2021.
According to an emarketer study, live shopping will be a market of 623 billion dollars in 2023. 80% of consumers prefer watching videos about products rather than reading about them. People expect to be entertained today. By next year more than 30% will increase. So, if you are planning to create an ecommerce presence or if you already work with this, you should dive into this amazingly fast growing market.
Just ask yourself this rhetorical question,”How can I use live shopping to generate ecommerce revenue?”
If you haven’t started using live shopping yet, time’s a wasting. Start creating live events and engage people with good content and tools that can provide you with insights, data, audience engagement and customer loyalty. Creating “Lives” is a challenge that you can surmount with some tricks, like good planning and organization . A big tip: you need to listen, ask, interact and just not create ads in a live streaming. The big picture comes when you provide content tailored to your customer and listen to their desires, then making this happen.
People love to be mentioned and honored. They like to be wooed and entertained. The pandemic has created a vacuum of boredom that is being filled with live shopping solutions.
By giving them prizes, they will go crazy. Giving them discount coupons to use in a limited time will increase sales from their desires.
Using a chat like Arena Live Chat, you can enrich your customer profile with their favorite products that you can get from Arena’s Customer Data Platform (CDP).
How does the audience speak about competitor’s products? Using personas and single sign-on you can read more data about them and make wiser decisions about your marketing mix.
The devil is in the details which is what you need to access your ideal customer from the audience.
Make them enjoy the shopping extravaganza your live event is all about and you’ll have a fan for life.
Imagine creating a live event on youtube or facebook. There you need to ask people to enter your website and then “shit happens”. Common sense says that it is impossible 100% of our clicks really become visits. People are fickle and have short attention spans in this go-go world. Also do you want to generate revenue or friction?
Make your website the rising star instead of an external service. Guaranteed that more conversions will happen because people don’t like to change their navigation. On average, people click 22 times until they convert at ecommerce. Hit the nail once to drive sales.
Imagine that you can manage an audience and create personalized offers during your live event, look at comments and, better yet, use what people are chatting about to generate creative things as you do on social media. If your audience is talking about other products, how can you use that to your benefit? What do they like the most about that product? What do they dislike? Ask them questions in real-time, make polls, request reviews, and create some fun with that. Understanding your audience will help you choose the optimum strategy.
People with a buying intention normally have some doubts about prices, size, deadlines, colors. If they are buying, they want to know what they are getting for their money. And, they don’t like surprises because key information has been withheld. You can run a Q&A session to narrow their buying intention. By answering people at your live stream, you avoid them “googling” and becoming disengaged. Let’s be honest, if they google your product or categories, how many competitors will they find? So use the moment to answer objections and make deals.
In the end, it is easy to turn your website into a Youtube or Twitch type presence. With that type of venue, you can manage audiences, get to know your customers, enrich their profiles with preferences, and sell directly without needing to run ads to capture the audience again. Don’t let them leave your live event, on your website, with money in their pockets. Use the moment when you have already acquired that customer in some way because it takes money and time to acquire a customer. Live shopping is bout a shortcut to your clients’ heart and better conversion rates and you can use any white label live shopping software, your live stream, and add Arena Live Chat to generate all those amazing solutions.
Putting Arena’s Live Chat to work to help you convert your live streaming events into revenue generators is easy. With guest influencers engaging the audience, and having the right format for your “lives” can make the experience become a real-time shopping extravaganza.
Adding that dollop of excitement where the audience can ask questions, get answers, and tell their stories will boost your brand at each successive event. Customers will have better experiences, and if there are other attractive products they may make additional purchases while there. An engaged audience that is having fun will shout this out to their fellow netizens and make referrals because of your outstanding products and services.
Live environments are exciting because they have that sense of urgency, freshness, and professionalism. With content being continually refreshed, new products being placed on the carousel, and the host adding to the excitement and fun of the moment, how can you not increase conversions with Live Chat at your event?
You can magnetize new customers’ attention by giving them exclusivity. Personalized service while having an entertaining live shopping experience. Satisfied customers are repeat customers. Expect the crowd to turn out at your next “Live”.
Arena can give you a Live Chat solution right now with no code hassles.You can have it fully operating within minutes on your platform. Did we say it’s free?! Create! Embed! Ready to go!
The world is your oyster when Live shopping is done right.