Live Streaming : how to mix entertainment and sales?
People are constantly looking for entertainment. At work or at home, they scroll through their phones for several hours mainly on social networks and e-commerce sites to shop online.
Shopping is a hobby for most consumers, so it would be interesting to know how to mix entertainment with shopping! Plus, according to a survey of Klarna, 1 in 4 people prefer to shop online. Merchants are therefore well advised to find a tool to combine the fun of social networks with online shopping. Live commerce is a new sales channel for digital brands: this is also known as Live Streaming.
Brands that are used to offering video content to their community on social networks, will naturally have more convenience with live streaming!
Now find out how and on which platforms to broadcast live streaming!
What are the differences between Live Shopping and Live Streaming?
Live streaming consists in broadcasting a live audio or video stream. A practice that has quickly spread on platforms such as Youtube, Facebook Live, Instagram or Twitch. More than 30% of companies have been using the Youtube platform in 2021. Unlike live streaming, Live Me Up live shopping can be broadcasted directly on your own website. Live shopping is not similar to teleshopping : during a teleshopping, buyers will waste time calling or going to a site to place an order. In live shopping users can add a product to the shopping cart from the live video in one click. The purchase is easy, in one click, without losing the entertainment!
The added bonus of live shopping : your customers can watch replays at any time of the day or night. Live events and replays' performances can be analysed in a dashboard, for you to understand the impact of each live show and replay and improve. Live Me Up is a SaaS live shopping platform that allows digital brands to put their e-commerce site at the heart of their acquisition strategy. But how does live streaming allow you to boost your sales?
Benefits of live selling
Several studies have been carried out to find out more about the Live Streaming market.
Here are some figures:
- The US live streaming market is estimated to be worth $35 billion by 2024.
- In China, live streaming market has grown from $3 billion to $171 billion in 3 months.
- Fashion and apparel account for 36% of live shopping events.
- 17% of US consumers often watch influencers' live streams.
- 60% of shoppers who have tried live shopping said it improved their shopping experience.
How can Live Streaming help you boost your sales ?
Live streaming turns your website into your own social network, which increase the rate of engagement of your visitors thanks to the content of the site.
The biggest brands have already gone live streaming like Leroy Merlin. The brand partnered with an influencer to highlight its products. For these brands, there is no doubt that live stream is the revival of e-commerce thanks to the spontaneity that responds well to the need for authenticity for a privileged community. The live shopping event can indeed be perceived as a special event that not everyone will have the chance to attend.
Live streaming also creates a sense of urgency among consumers which speeds up the buying process.
Who can take part in your Live Streaming ?
Thanks to the broadcasting of your digital events, you no longer have any location requirements and you can now invite professionals, experts, ambassadors and influencers from all over the world!
An influencer's involvement will always have the positive effect of entertaining the community while creating envy for the product showcased, as well as the rush to buy.
With live shopping, users can add a product to the shopping cart from a live video in one click. Live me up gives all your customers an extra reason to come to your website, shortening the buying process.
When should you broadcast your Live Streaming ?
You will have a better audience and a high rate of engagement for lives broadcast weekly at lunchtime, between 12 and 2pm, and in the evening from 6pm.
Broadcasting a live show requires time, and it is not always easy to launch it in the middle of the week. However, with a live shopping app such as live me up, you can sponsor replays on weekend to increase your engagement rate if your customers have more time to watch them at that time.
Which industries are eligible for Live Streaming ?
Live streaming boosts your business
Whatever your field of activity, you can start broadcasting live streams :
Live shopping is accessible to all. However a service can be more complicated to dispay in live than a product for example. All e-commerce companies can use live shopping to increase their sales. Thanks to live streaming shopping, your audience will be able to add the product to their shopping cart in a single click and place the order right afterwards, since the live shopping takes place directly on your website.
How does french fashion brand L'Autre Mode use live streaming to boost its sales ?
L'Autre Mode is a women's ready-to-wear brand that starts its business by promoting its various collections on the Facebook platform through live streaming. Its audience strongly appreciates this format but Facebook no longer matched its needs because it had limitations for sales for example.
The brand quickly wanted to find another solution like on-site live shopping. Indeed, the highlighting of product sheets directly in the live stream and the ability for its community to add items to the shopping cart in a single click was a great feature.
One of their live event attracted people and got more than 40 validated shopping carts during the live, an incredible conversion rate that the brand did not achieve with its previous strategy on Facebook.
Using Live Streaming: a winning strategy ?
Live streaming is a real phenomenon in China, and the practice is starting to spread more and more in the United States, India and also in France!
Livestream has a strong impact thanks to attractive and above all dynamic content. A content that can feed your website and your social networks and save you additional creation time. Live stream must be thought like an event that must be prepared in advance, but from live to live, you will see that you will be more and more at ease.
You'll spend less time getting prepared and the live sessions will be funnier, as you will be able to focus on interacting with your community.
Finally, once your live shows are over, your replays will continue to work for you by combining entertainment and passive sales!
With Live me up, get 30 days free to boost your business with Live Shopping.