E-commerce business owners can attest to the fact that a great marketing strategy is very effective in yielding profit. Keeping up with the times and being abreast of new developments helps to keep e-commerce businesses afloat. Today, technologies like Whisbi can help businesses to surpass their internet revenue potential through online sales conversations powered by video.
In this article, all you need to know about the rapidly growing e-commerce tool that is live video shopping is discussed. But first, what exactly is video shopping?
Live video shopping is an e-commerce technique that presents products to customers through live streaming. With this, customers can buy the products that are being showcased live. Unlike shopping TV and other marketing techniques, this is more engaging and yields faster sales.
Live video shopping is called many other names including live stream shopping, live e-commerce, and live selling. Over the years live-stream shopping has been described many times as the future of retail. This is so because of the many perks this method provides e-commerce businesses, such as highly reduced costs for customers among others.
How it works
Live selling events are usually hosted by someone. Many times, businesses tend to use social media influencers to attract more customers to tune in and patronize them. Sometimes, someone working with the business may also anchor the streaming event. It all depends on the store and what their goals are. The bottom line is that whoever is hosting should be well equipped to sell the product, as well as answer any questions asked live by the audience.
Live video shopping can be done using two major structures:
- One to one: Here, a representative interacts and sells directly to one customer. This is usually reserved for exclusive customers.
- One to many: Here, the anchor interacts with many customers at once, answering their questions and showcasing the product live.
The role of social media in live video shopping
It is safe to say that social media has enhanced the way we do many things, and business practices are not left out in this. For example, many businesses today start and run their entire business operations via Instagram. Live video shopping has also been heavily influenced by social media. Livestream shopping using social media platforms like Facebook, Instagram, YouTube, and TikTok are very effective in driving sales with really high returns on ad spending. Although social media is a great platform to use for video shopping, it is also possible to set this up on your company’s mobile app or by creating a subdomain.
Why businesses should tap into live video shopping
Adding to some of the perks already mentioned, this technology allows your customers to have a one-of-a-kind engaging experience with what you are selling. A business that taps into this properly can gain a wider customer reach as well as showcase its products in an up-close and interactive fashion.
In conclusion, e-commerce stores need to not waste too much time contemplating embracing the Livestream shopping trend. Its numerous advantages, ranging from increased exposure to increased revenue, are sure to propel your business to the next level.