Live Streaming for Retail: An effective Marketing Strategy
If your marketing strategy is not including a live shopping strategy, you are missing out on a huge opportunity. A large percentage of people, especially millennials, prefer video commerce as a means to consume content. Also, according to statistics 63% of Millennials watch live streaming content, making them the largest group of consumers of live content. Selling via live streaming commerce gives brands an opportunity to convey their ideologies, stories, and offer personalization in a virtual environment. When compared with pre-recorded videos which are great in terms of production value and ability to convey messages, live videos are unmatched in their ability to convey tone and offer humanization and authenticity.
Incorporating a live shopping strategy for marketing is an impactful way to monetize your video content, authentically interact with your prospects, and reach a vast audience. Here is how a live streaming e-commerce platform can act as a marketing tool.
- With live stream shopping, you have the power to directly interact with your buyers in real-time. Viewers can send in questions and you can respond to them in real-time via a chat. This type of interaction gives a sense of legitimacy which makes live commerce different from other traditional marketing strategies.
- Marketing newly launched products via Livestream e-commerce is another way to capture your audiences. This can make your buyers feel like they are getting a special sneak peek reserved only for them, building a sense of trust and exclusivity.
- Live shopping as a marketing strategy is a great way to expand your brand’s reach and create brand awareness. Customers are intrigued by live, raw and authentic video messaging and hence they tend to shop from you in real-time. Regardless of your industry, if your live streaming shopping strategy is compelling enough, people will want to tune in and see what it is you’re talking about.
Here are some other things that make Live Video Shopping a compelling marketing strategy.
The term simulcasting or multicasting refers to the practice of broadcasting your live stream to multiple channels at once. The purpose is to receive maximum exposure and reach target audiences wherever they are. So, simulcasting is simply a way to get wider coverage which means that more people will hear about your brand. Live streaming shopping gives brands the opportunity to simulcast their live shopping shows on various other platforms and hence reach target audiences irrespective of any platform.
Analytics tracking is a useful way in optimizing your live show performance by highlighting how audiences are interacting during a show. Not only does it allow you to understand how well your live shopping show is performing, but it provides insightful data about your audiences. Hence these findings can be utilized when it comes to future marketing decisions, tailoring your approach to give your buyers exactly what they want.
You can also carry out targeted marketing via email newsletter to target potential clients who might have missed your live shopping show.
With email marketing, you can segment your customers into different lists and send highly personalized content. You can offer them deals, discounts, coupons, etc to grab their attention.
Additionally, email newsletters can help to build customer relationships by providing them with the information they want directly into their inbox on a regular basis. When you pamper your customers with such personalized emails they will learn to appreciate and trust you. This will ultimately draw more customers towards your products and lead to their sales.
Leveraging social media
You can also leverage social media channels to reach more potential clients and cross-promote your products. Live selling gives brands an opportunity to cross-promote products on different social media platforms hence covering much larger audiences. This is a vital step towards increasing the reach of your products, generating more touchpoints for customers, and attracting more potential customers.
Furthermore, if you are collaborating with an influencer, KOL, celebrity, or any influential personality you also leverage their social media following to market and promote your live shopping shows.
With so many brands getting onboard live stream shopping it is getting harder to stand out. One way to get ahead of others is to have your own customized live streaming ecommerce platform. With an end-to-end live shopping platform, you can have your live streaming features developed according to how you want them to be.
Video commerce is a sustainable marketing strategy as it yields tremendous results if leveraged thoughtfully. Furthermore, people these days prefer unedited, raw, and authentic content by a brand over a perfectly polished video. This gives buyers a sense that they are interacting with a real person. Channelize.io Live Shopping solution will
lead to your business sustainability and will ultimately benefit you in the short as well as in the long term.
You can get in touch with us at [email protected] and know more about our live stream shopping platform.