Live streaming is starting to be the buzz in 2021. While it’s not new, more and more brands and businesses are jumping on the live stream bandwagon and becoming an industry trend this year. Livestream ecommerce is a business model in which retailers, influencers, or celebrities sell products and services via online video streaming where the presenter demonstrates and discusses the offering and answers audience questions in real-time.
In China for example, Live streaming has been a main source of marketing for quite some time. In fact, it’s the #1 way of marketing your products and brand.
One of the main reasons why live streaming is so important, for brands and individuals, is because of the level of interaction and engagement it offers. No other platform or marketing strategy allows for such level of interaction. Live streaming also has the highest rate of engagement of all content types.
Livestreaming for e-commerce can also help fill the social aspect that’s missing in regular online shopping to help bring the experience to life and increase interaction between the customer and seller.
With the popularity and advancement in live streams, more and more platforms are giving retailers the capability of live streaming. Aside from the big powerhouse players, you have new platforms coming into market that ONLY serve as live stream platforms making it easier for e-tailers to enter this marketing strategy.
From the Bloomberg.com article, Livestreams are the future of shopping in America, “…Live selling in other markets has been successful at increasing how often a purchase is made because there’s more product information than traditional ads, and it’s often coming from a host consumers already know and trust. The shows can keep customers engaged for tens of minutes, even hours, thus increasing the chance to sell them more things.
Streaming also adds an emotional connection to online shopping, which can increase loyalty and peck away at one of the few advantages brick-and-mortar stores have with their sales staffs.”
Noteable livestream platforms for e-commerce:
- Facebook live
- Instagram live
- Amazon live
- Youtube live
Livestream only platforms:
- Popshop Live
Amazon Live Streaming Tutorial – How to Increase Revenue by Using Amazon Live Creator