B2B Livestream Shopping – Increase Your brand Exposure Dramatically

Daniel Hillyer

02/11/2022

Livestream shopping

Explore the benefits of livestream shopping for e-commerce, a valuable tool recognized by digital marketers. Interested in integrating it into your marketing strategy? Retailers, brands, and digital platforms globally are leveraging the substantial value offered by livestream shopping.

The fusion of social media, live entertainment, and rapid shopping has significantly impacted e-commerce, creating an unexpected trend. While you might have heard about the marketing advantages of livestream businesses, our Chinese colleagues have already embraced B2B livestream shopping, acknowledging its growing significance.

Even while Western shops are still trailing China in the race for live commerce, early adopters of livestream shopping are starting to see considerable revenue growth. Recent research reveals that 61% between 25-34 prefer to purchase via social media.

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The Core Challenge

Traditional e-commerce checkouts are witnessing a decline in engagement rates, accompanied by a rise in abandoned carts. This trend likely stems from subpar, or even worse, indifferent user experiences. In response, marketers are actively addressing these challenges.

Marketers find themselves in a challenging position as customer loyalty wanes and price sensitivity increases. Navigating through these shifting consumer dynamics requires innovative strategies to meet the evolving demands of our customers.

This is where livestream shopping emerges as a pivotal player.

Connecting your brand intimately to your customers is the tried-and-true formula for success. This is significant from both a “successful livestream shopping event” and a business longevity viewpoint.

When we contrast the financial crisis with 2008, we can observe that companies that prioritized the customer experience at that time had a relatively small decline.

Livestream shopping serves as a powerful catalyst for rejuvenating online sales. By seamlessly integrating e-commerce with livestreaming, online businesses gain a heightened level of personability, enjoyment, and relevance.

Livestream Shopping Unveiled

Blending the realms of online shopping and live video entertainment, livestream shopping offers customers a captivating experience, empowering them to make confident purchases from the comfort of their homes.

On livestream platforms, shoppers not only witness the product presentation but also engage directly with the host, facilitating immediate purchases.

This could seem familiar to you if you grew up watching vintage TV shopping shows. Similar to online video shopping, the TV program host would discuss the item and its advantages and frequently give examples of how to use it while promoting the “phone now” number to make a purchase.

 

This approach simplified the shopping experience for home viewers, transforming couches into purchasing hubs. Live shopping videos, reminiscent of this classic format, go beyond mere product showcases. They unfold as dynamic experiences, featuring product launches, tutorials, engaging interviews, interactive games, quizzes, and the allure of exciting prizes.

It’s essential to distinguish online video purchasing from the traditional infomercial. The former is swift, enjoyable, unfolds in real-time, and is finely tuned to be highly relevant to its audience.

 

Essentials of Live Shopping Platforms

  • Connection Mastery: At the heart of livestream shopping lies the host’s ability to captivate and entertain viewers. Optimal results stem from collaborating with influencers who already share a robust connection with your audience. This not only enhances credibility but also establishes a foundation of trust, compelling shoppers to participate from the outset.
  • Engagement Dynamics: Livestream platforms thrive on interactivity. The inclusion of chat features and reaction buttons enhances the shopping experience, allowing successful brands to foster audience engagement. Techniques such as polls and live chat comments during livestream shopping sessions contribute to heightened participation, thereby elevating the overall success of the event.
  • Profitability: When executed with precision, livestream shopping emerges as a potent tool for boosting revenue in the realm of online marketing. A prime example is Huang Wei, a livestream celebrity in China, widely recognized as Viya. Leveraging her platform, she effortlessly sells a diverse array of products to massive audiences—sometimes reaching an astounding 37 million viewers.

Bottom Line

livestream shopping stands at the forefront of online marketing’s evolution, proving to be a game-changing tool for revenue enhancement. Viya’s success as a livestream celebrity in China, with her ability to effortlessly connect with massive audiences and sell diverse products, exemplifies the immense potential of this dynamic platform.

As businesses navigate the evolving landscape of e-commerce, integrating livestream shopping emerges not only as a strategic move but a crucial one to foster engagement, build trust, and drive substantial growth in revenue. The bottom line: Livestream shopping is not just a trend; it’s a powerful force reshaping the future of online retail.

Daniel Hillyer
VP Sales & Customer Success at buywith

Daniel Hillyer is the VP Sales & Customer Success at buywith, a leading live shopping platform and creator marketplace. With over 12 years of experience in SaaS sales, Daniel is a highly skilled professional in the realm of livestream shopping, dedicated to delivering flawless customer experiences and pushing the boundaries of innovation within the ever-evolving e-commerce arena.

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