Live me Up is perfect for live retail
What Is Live Shopping?
Live shopping gives the opportunity to sell products live by enabling viewers to click on products while they are broadcasted. This allows digital brands but also retail brands to get in touch with customers they have often never met. It also enables to answer questions live, and gives a new impulse to online business which tends to stagnate or even regress (the subject of acquisition costs has become more and more complex).
The question that often comes up is "why would I set up a live stream on my own site whenI can do it on my social networks"? The answer lies in several arguments:
- first of all, social networks do not engage your audience very much. These viewers can often watch your live stream for about 10 seconds, whereas live shows embedded on websites have much longer viewing times: between 10 and 20 minutes, sometimes more depending on the length of the event.
- Then, on your website, you have the possibility to make your audience live a totally immersive experience especially because the viewer has left the social network to come to your site and this latter is the heart of your branding.
- Finally, you won’t have any better way of converting: While the average conversion rate of a website is between 1.45 and 2%, the live shopping conversion rate is about 15% while replays allow a conversion of 5%.
With Live Me Up, you have a detailed dashboard on your performance: this is the advantage of having your own live broadcasting tool!
How does live commerce create value?
Live commerce builds brand awareness
Live commerce is a real trend but it is also a UFO in terms of marketing. Audiences are still curious to discover what is behind this practice: what experience will they have? Are they able to enjoy the event? Do they want to attend the event? Does this private meeting make them feel like a very special guest?
That's why when you launch live shopping, it also contributes to the reputation of your brand as a pioneer, a trendsetter but also as a brand that knows how to create an event around what it has to say and its products. It makes a strong impact, enables the beginning of word of mouth and then inflate your notoriety.
Live commerce stands for better engagement
When you launch your live shopping events, you have at your disposal the products that you will show onthe screen: these are the ones that the moderator will launch live. But you also have a chat in which customers are asked to react. There is an interaction!
And if people are too shy to talk, they can also send an emoji or like products, or they can silently wait for other people's interactivity and add their favorite product in their cart! Plus, what better way to engage people than to stand in front of them and ask them questions! Audiences will rarely leave you alone in the live stream and they will often be tempted to interact with you, because that's human :) So engagement is often much easier to get than from content posted on social networks.
Live commerce encourages impulse buying
Impulse buying is an immediate purchase that we want to make but which was not necessarily planned. This irrepressible desire to buy something is often linked to the notion of pleasure for customers. This purchase is good for the mood! During a live shopping event, the moment is perfectly chosen to make the audience want to give in to temptation. The event itself creates an environment of trustand relaxation, but a good event will also create the urge. Especially because spectators can feel the excitement of others for a product they don't want to miss!
What exactly are people buying?
Sectors that are more profitable than others
Many live shopping platforms claim that any brand can get into this business, which is not true. In fact, your success in live shopping or live sale platforms depends on your marketing strategy, your in-house resources and the way you engage your community.
Indeed, without a communication strategy to announce the live shows (well in advance) and to incite your database to attend them, you will have a low traffic and therefore a low success. Then, you need to animate your shopping lives yourself and/or with a co-host, but you also need a moderator who clicks to show the products to the audience when the live is aired. So you need two or even three people to animate your live.
Finally, if your event is not interesting enough and does not attract an audience, you will not be able to operate a winning strategy on the long term.
Customers don't just buy products
Live shopping customers don't just buy products. First of all, they want to get to know the brand, to get more familiar with the personality of the founders or the employees. Then, they try to understand the background of the brand, its struggles, its inspirations, its vision of the world in a way.
They also want to create a special bond that they will not be able to create with other brands. Live shopping therefore allows brands to support the customer relationship, to work on the brand's memorization and to build, in the end, a long-term loyalty.
A rapidly growing channel
More and more stores are going live
The live shopping market is weighs heavily with an estimated industry worth, by 2023, $600 billion in China, and $25 billion in the US. Knowing that China and the United States have always been great precursors in terms of...everything!
More and more stores are switching to live shopping, especially if they want to decrease the number of products being returned by their customers, increase customer loyalty or give a new boost to their communication. With all the available applications, it is becoming easier and easier to switch to live shopping: trial sessions will also allow you to test without risk.
The Benefits of Live Shopping
Show products from different angles
Beautiful pictures will help you to sell better on your e-shop, but nothing better than 3D to show a product from every angle! But modeling your products in 3D can be expensive and may not do true colors and textures any justice. Thanks to live shopping you can finally show a product from different angles as well as show the real size ratio of the object.
To allow a better understanding of size, color,texture
Live shopping allows you to better capture color, size and shape, but beware: your spotlight must be properly lit to do so! If some live shopping can take place in natural light, others often use several rings of lights to correctly reflect these elements. Be careful and make some tests!
Starting out in live commerce
Getting started with live commerce is easy: download our Shopify app, create your live shopping page and link your product feed. Then start your first live tests, our FAQ will answer all your questions. When your live event is over, analyze your performance as you go along: the first few lives may give you a hard time, and that's normal, but as you go along, the snowball effect starts to take hold.
Which product and audience?
When you are ready to finally launch your live event, you can still wonder about the products and the audience, because one can't go without the other! Indeed, the live event is a mix to be successful, and sometimes you will have to consider whether some specific products need to be advertised to certain audiences only. Are there products that only appeal to certain audiences? What appropriate communication should be launched accordingly? These are all questions that need to be anticipated, and we can help you to do so during a private meeting!