07 Jul Livestream Shopping – Everything You Need To Know About It: The Ultimate Guide
Summary
Livestream shopping is the latest trend to sweep the internet. It allows shoppers to see and buy products in real-time as the seller demonstrates them. This can be a great way to find unique items you might not find elsewhere or get a closer look at products before buying them.
LIVESTREAM SHOPPING REPORT 2022
Plus, with the number of online buyers purchasing from live stream shopping only continuing to increase, it’s quickly become one of the easiest ways for brands to stand out from the competition and increase their sales. In this guide, we will teach you everything you need to know about live stream shopping, including how it works, what benefits it offers, and some tips on how to make the most of it for your business. Let’s get started!
What Is Livestream Shopping?
Livestream shopping flow by Bloomberg.com
As we mentioned, Livestream shopping is a type of online shopping where the customer can watch a live video of the seller demonstrating products. Customers can purchase the products directly from the live stream, often at a discount.
This is different from traditional online shopping because it offers customers a more personal experience. They can see the product in real-time and ask the seller questions about it before making a purchase. With the social commerce market already valued at $89 billion, it’s no wonder why brands are moving towards this type of shopping experience over traditional methods.
How Does Livestream Shopping Work?
Live shopping on instagram (by Business 2 Community)
Livestream shopping is relatively simple. First, the seller will start a live stream on a platform like Facebook, YouTube, or Instagram and can either be a customer of the company, an influencer, or an employee. Next, they’ll begin demonstrating the products, often focusing on one particular item.
As they demonstrate the product, they will talk about its features and benefits, as well as any special deals or discounts that are available. Customers can then purchase the product directly from the live stream, usually through a link that the seller provides.
Some sellers choose an alternative route, such as featuring behind-the-scenes of the company, doing a Q&A session, or even just talking to the customers to get to know them better. Regardless of your route, Livestream shopping is a great way to connect with your target audience and boost sales.
What Are The Benefits Of Livestream Shopping?
Now that we’ve answered the question “what is Livestream shopping?” it’s time to discuss the benefits. Livestream shopping offers a number of advantages for both shoppers and businesses, which is why it’s become such a popular trend.
Some of the top benefits of Livestream shopping include:
Allows customers to see products in real-time before making a purchase
This is one of the most significant advantages of Livestream shopping. Customers can see the product in action and ask the seller questions about it before making a decision. This helps build trust between the customer and the seller, which is essential for any successful business. For example, if you sell clothing, the customer can see how the clothing looks on a real person and get a better idea of the fit, quality, and style before purchasing it.
Offers a more personal shopping experience
As we mentioned, Livestream shopping offers a more personal shopping experience than traditional online shopping. Customers can connect with the seller on a personal level and get to know them before making a purchase. This helps to create a loyal customer base that will likely make repeat purchases in the future.
Creates A Sense Of Urgency
For businesses, one of the benefits of Livestream shopping is that it creates a sense of urgency. Customers are more likely to make a purchase when they feel like they need to act fast. For example, as sellers announce deals and discounts during the live stream, customers are more likely to make a purchase then and there instead of putting it off until later.
How To Create Value With Your Livestream
Now that we’ve gone over the benefits of Livestream shopping let’s talk about how you can create value with your own livestreams.
Cater To Your Target Audience
The first step is to cater to your target audience. When planning your live stream, think about what your target audience would want to see. What type of products are they interested in? What questions do they have?
By catering to your target audience, you’ll be able to create a Livestream that is more likely to convert viewers into customers.
Be Authentic To Your Brand Image
It’s also important to be authentic to your brand image. Your live stream should reflect the values and personality of your brand. This will help you to build trust with your audience and make them more likely to purchase from you in the future.
Think about how you can incorporate your brand’s story into the live stream. For example, if you’re a sustainable fashion brand, you could talk about the ethical and sustainable practices that you use to produce your clothing.
Make It interactive
Amazon Live: livestream shopping
Another important tip is to make your live stream interactive. This means including your audience in the live stream as much as possible. You can do this by taking questions from viewers, giving them a behind-the-scenes look at your business, or even giving them the opportunity to win prizes.
The more interactive you can make your live stream, the more engaged your audience will be. And the more engaged your audience is, the more likely they are to make a purchase from you.
Try Different Livestreaming Platforms
There are a number of platforms out there that you can use to live stream your products, so it’s important to find the one that works best for you and your business. For example, why not try out TikTok instead of Instagram? Understanding where your target audience hangs out will help you narrow down what platforms will work the best for you.
Experiment With Different Dates And Times
Finally, don’t be afraid to experiment with different dates and times for your live stream. You might find that certain days or times are more successful than others. It’s important to experiment and find what works best for you and your business.
Conclusion
Livestream shopping is a great way to increase sales and conversion rates for your business. As one of the most popular eCommerce trends, it’s essential to understand how to create value with your own livestreams.
If you want to create an unforgettable live stream shopping experience for your customers, look no further than The Influencer Marketing Factory. We are experts in this field and can help you create a livestream that leaves a lasting impression on your viewers. Contact us today to see how our agency can help level-up your brand.