Live shopping plays a vital role in a marketing strategy. When products displayed and mentioned are purchased during a live selling presentation, it might directly lead to sales conversion. Buyers are more compelled to impulse buy because they are not required to leave a live stream. Customers can shop while watching things in action as a result of this.
Live shopping is gradually transforming the way businesses engage with their customers online. The see-now-buy-now attitude is swiftly rewriting retail history, and the live shopping experience is firmly embedded in this philosophy. A live shopping channel is the closest thing to in-person shopping for customers that choose to buy from the comfort of their homes. We already detailed the benefits of live shopping and why you should use it. For now, we will focus on your marketing strategy and the role this type of shopping has to play there.
What better way to grab clients’ attention than something unique that is happening right now and will never happen again? This is what live shopping is all about – the instinct to buy a product when it is presented.
Live shopping in the world of marketing
Live streaming allows companies to visually engage their customers while offering important information, boosting customer mindshare, increasing discussion opportunities, eliciting an immediate response from customers, and ultimately leading to product sales. As a result, promoting your brand to the eyes and ears of potential clients doubles your competitive advantage.
The potential of live selling to attract shoppers by tapping into their inherent curiosity sets it apart from other forms of marketing. And the most irresistible way to entice your customers is to pique their interest.
Real-time videos can be utilized for marketing in a variety of ways, like interviewing specialists in the field or cooperating with key figures in the sector, hosting giveaways and flash sales, launching a product, or just showing how your product works. The only thing that can stop you is your imagination. Live shopping can radically boost customer engagement, customer retention, brand awareness, and brand credibility.
Become an influencer
You can also stream complementing information that can boost your brand image and contribute to brand loyalty using a live stream shopping platform. Developing a reputation as an industry influencer can benefit you and your business in a variety of ways.
For example, a business selling bikes could make a video about dealing with a flat tire. This type of content boosts your authority and, over time, transforms you into an influencer. It`s about giving before receiving, so next time you have access to free information on various topics online, this is why. And this is why you should use it too. Offer value to the people and you will be rewarded.
Targeting specific demographics
It’s also possible to use live shopping programs to target a specific demographic. For example, today’s firms are developing plus-size apparel to appeal to a specific audience, and staging shopping shows to appeal to this demographic can be an efficient strategy to promote your clothing line.
Furthermore, marketers can use live stream shopping to engage with celebrities and influencers to host and encourage body positivity movements. As a result, audiences will choose you over a rival who isn’t explicitly speaking to or targeting them when they can easily recognize your unique selling points.
Brands can interact with targeted demographics much more quickly with livestream shopping, ensuring they provide the correct experience to a specific group of interested customers. Customers who believe brands connect with them on an emotional level are more likely to acquire things and stay loyal to a brand.
Analytics
The success of every event will be at your fingertips with live stream shopping since once your live show is complete, you can obtain crucial metrics relating to commerce and audience engagement. As a result, you’ll be able to observe how effective your live stream show was and how you may improve the effectiveness of your next one.
This will also assist you in determining who your target audience is and what they might expect from you. But there is actually more hidden in this data. You can then create targeted ads for your buying persona, thus generating more revenue, all thanks to the analytics tool.
Conclusion
Businesses benefit from live stream shopping in three ways: it entertains customers, engages them, and educates them about the brand’s items, thereby triggering the sales cycle.
It is expected that live commerce will account for 20% of all eCommerce revenue by the year 2026. That will play a crucial role for brands selling online.
Despite the fact that live stream shopping is still in its infancy (in comparison to other traditional marketing tactics), it is rapidly gaining popularity. Getting a head start with live commerce can help you grow a flourishing community and promote your brand among the competition.
