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SHOULD BRANDS CONSIDER LIVE SHOPPING IN 2023?

Over the last past 10 years we have seen livestreaming evolve from corporate webcasting to gaming and now a solution for consumers to buy directly through live interactive shopping.


Now more than ever consumers feel better connected to the brands they shop with, with up to 60% of shoppers who have tried livestream shopping say it has improved their experience.



Live shopping is still in the very early stages of being a worthy sales channel (particularly in the west) and, according to Shopify, it is estimated to reach $25 billion by 2023.


Despite the high projections, brands are still moving into next year teasing with the idea on whether they should go live or not. Perhaps some of the reasons why livestreaming is still sidelined could be down to what we call “The three C’s”.


  • Cost

  • Consistency

  • Conversions


So let's talk about these quickly:


COST


To go back a bit…. Live shopping is something we are used to seeing on TV via QVC and HSN. Perhaps that is the reason why we associate high production costs to live shopping.


It is often believed that in order to go live you would need to acquire a studio, a bunch of cameras and a team of engineers, producers and directors in order to have a successful show.


The question: ‘How much do you think production is going to cost us?’ is one that is asked a lot and the answer can be quite simple.


Thanks to social media and the advancement in technology that our mobile phones possess, the way we view our content has changed. More now than ever we want to have seamless experiences via our mobile devices. So why complicate the production process?


Most people are going to be watching on a mobile device so why not shoot from a mobile device? Grab the camera on your mobile phone and a ring light and, quite simply, you are good to go!



Our interactive live streaming solution is completely optimised for mobile technology, meaning that the journey from viewer to buyer has never been easier. Your audience can easily navigate within the live shopping event, and most importantly, connect with your brand within a social environment.




CONSISTENCY


This is a question I get asked all of the time. If you think going live once is going to have a big impact on your conversions then you are going to be really disappointed.


Bare with me on this… For those of us that were obsessed with Game of Thrones, we would often set boundaries within our life to ensure that no one disturbed us for the hour when the program was on. We knew what time, where we could watch and who we wanted to talk to as soon as the show finished. So, we changed our lifestyle to make sure we could watch it first. We did not miss out.


The same goes for livestream shopping. Setting up a regular schedule can help consumers change their habits so they can be regular shoppers on your shows. Whether your viewers are looking for the best deals, or having their questions answered about your product, consistency can be the key.


We have found that when brands stick to a regular schedule, their consumer base reacts with a high volume of viewers which of course can lead to conversions.


So be more like Game of Thrones and set your time and stick to it! It does not have to be once a week. Sometimes going live once a month for a “pay-day show” can also work. The key is to be consistent and stick to the schedule!




CONVERSIONS


How do we convert? I wish I could give you a scientific answer on how to force consumers to buy every single product on your live shopping show. What I can do is give you some suggestions that have helped:


  • Education will be the most important tool to start with. Show your consumers how to shop and where they can click on their favourite products.

  • Utiltise gamification techniques such as discounts or prizes during the show. This also makes the show fun to watch and engages with your audience.

  • Treat the consumers like a community. People want to feel they are a part of something and live shopping can have a real impact here. This encourages people to come back and participate in your next shopping experience.

  • Drive traffic from your social channels! Utilise your social media to show your audience where they can watch the livestream!





To summarise, going live has never been easier. Within our technology ambassadors of your company or creators you work with can go live using their mobile phone from anywhere in the world.


Live shopping can be an authentic experience for your consumers which will help drive engagement and traffic to your side, optimising on the opportunity to get to know your customers better.



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