Trends help you stay updated and relevant in the market. If you want your business to outshine the crowd, you should know what is new in digital marketing. While there are several hottest things, we will focus on live shopping.
By using live streaming, a Shopify ecommerce development company can help you advertise your products, engage with views, and draw more buyers. But what fueled this idea? It is the rising trend among buyers “see-now-buy-now.”
A reliable digital marketing agency can help you create a live-streaming event for customers to buy your products. However, as a retail owner, you should know how it will benefit your business. As an experienced ecommerce marketing agency, we will sail you through this trend. First, let us begin with the basics.
What is live shopping?
Live shopping is similar to traditional home shopping networks, but with a difference. They used to stream on the TV. Today, live shopping events are streamable on smartphones using websites and online platforms like Facebook and Instagram.
The first event of live-streaming took place around five years ago in China. That was the mark of the live-commerce market. So, it means Chinese retailers and buyers are ahead of this form of commerce shopping. And China alone accounts for over 10% of live commerce in the e-commerce sector.
In short, live shopping offers an engaging experience to consumers. It is way more impactful than clicking and adding items to your cart. If you still need convincing, scroll below. We have listed some advantages for your business.
Top advantages of investing in live shopping
Here are the top advantages of live shopping for your company. With this, you can make an informed decision.
- Improved engagement
Digitalization gives access to everyone to post content and run ads with ease. As a result, there is too much stuff available online. It means your prospects are constantly inundated with new brands, emails, and adverts. Moreover, the attention span of users has reduced significantly.
As a leading ecommerce marketing agency, we know that the best way to attract potential customers and keep them interested in your brand is by offering a personalized experience.
With the rise in the fame of live shopping, it is understandable that consumers look for new experiences. Since it depends on video content, you can ensure improved engagement rates. Compared to other types of content, people are more likely to share videos. Also, live-streaming shopping offers real-time communication with your customers. Hence, it leads to better engagement and increased sales.
- Brand awareness
Do you want to increase brand awareness among your target audience? Then, the first step is to get in front of them. Fortunately, live shopping networks are the perfect place to start.
Live streams are highly interactive in nature. Thus, they make your brand more memorable. Hiring a celebrity or influencer to conduct this event can significantly boost brand recognition for your company.
- Generate more sales
A successful live shopping event can expose your brand to thousands of target audiences within a few minutes. For this, you should publicize your event in the right way. In addition, if your viewers find live streams fun and engaging, they might invite others to join in.
If you are not sold out on the power of live retail, here is an example.
In 2020, a celebrity jeweler sold gold-colored vacuum sealers worth $120,000 using a video-buying site, NTWRK. As a Shopify ecommerce development company, what caught our attention was that it happened in just five seconds.
In short, live shopping events done right can help you generate more sales.
- Promotes impulsive shopping
Almost everyone has FOMO, which is the fear of missing out. And digital marketing companies take advantage of this to sell products online. But how does it work?
Live shopping events are different from other e-commerce ads. It gives the impression to the buyers that they are a part of something significant. Therefore, to satisfy the sense of belonging, customers end up buying something they did not want
Moreover, people with FOMO (fear of missing out) are likely to make impulsive purchases. The following are some ways viewers experience FOMO with live-streaming shopping sessions.
- Discounts will be available on the items until the live event.
- They see countless people making purchases on the live-stream session.
- They look up to an influencer or celebrity hosting the event.
In short, live shopping is deeply rooted in feelings of excitement and haste. It results in a more fun experience for customers. So, get a Shopify ecommerce development company to work with your store and let your customers enjoy live shopping!
Live shopping is one of the hottest trends in digital marketing. Indeed, it helps accomplish your goals faster than other marketing techniques. But it does not come with guaranteed success. Therefore, if you are looking for an effective live-stream event, understand your target audience and fulfill their needs.
If you are looking for a reputed company offering digital marketing services, contact SoftProdigy. We house a team of expert marketers delivering customized marketing strategies.
- Which are the popular platforms to organize live shopping?
Here are the best platforms you may consider to organize your live shopping event.
- What are the tips to ensure a successful live shopping event?
Live shopping is beneficial. The success of live shopping events depends on how you host them. Therefore, we have listed some tips below.
- Identify your target audience
- Establish a loyal following
- Produce captivating content
- Promote your live streaming event
- Pick the appropriate platform