How to Diversify your Sales Channels using Live Shopping on your E-commerce Website
Ever wonder why some brands consistently outperform others?
It’s not just luck or a better product. These brands are successful in creating tailored strategies for the channels they sell through. You will achieve the best results by choosing high-performance sales channels that support the sale of your Products.
It has been proven that this strategy leads to better sales, better buyer relationships, and better yearly profits—a strategy not to be underestimated.
Live Shopping, also known as Live Video Shopping or Live Commerce, is an emerging trend revolutionizing eCommerce that can be an effective means to diversify your sales channels. This allows brands to take their power back and host Live Shopping Shows on their eCommerce Websites.
The goal of this article is to show you how you can diversify your sales channels by adding Live Shopping experiences within your e-commerce website & apps, using Live Shopping Platforms.
According to the statistics provided on this link, brands across industries are making the most of livestream shopping by generating 5x in Sales, 3X in engagement, and a 50 % reduction in return rate: https://channelize.io/why-channelize.io.
For eg:
A leading Beauty Brand Successfully hosted 75+ Shopping Shows
Five of the brand’s most recent shows garnered:
- Average Live Engagement Rate of 25% approx
- 150 Average Comments per show
- 350 Average Reactions per show
A leading Haircare Brand Successfully hosted 55 + Shopping Shows
Five of the brand’s most recent shows garnered:
- 300 + Average Viewers per show
- 200 + Average Comments per show
- 500 + Maximum Concurrent AudiencesA leading quilt brand Successfully hosted 25 + Shopping Shows
Three of the brand’s most recent shows garnered:
- 650 Average show Viewers per show
- 300 Average Comments per show
- Average Live Engagement Rate of 35% approx
What is Live Shopping?
Livestream Shopping is the practice of selling products through live video streaming. It has become extremely popular as an effective sales channel as it transforms the buyer journey into an engaging experience.
The experience is part informational, part entertainment, and part shopping. Your shoppers will experience the same shopping experience as they would in a store. The result?
Brands from all over the world are creating live shopping shows. From skincare and fashion to food and beverage and consumer electronics, brands use it to reach new buyers, boost sales, and create and increase loyalty.
A brand’s ultimate goal is to drive traffic to their website rather than building new strategies across multiple platforms. And live shopping on their website enables them to do so.
The Past and Future of Live Shopping
This new type of eCommerce originated in China and has rapidly made its way into the Western eCommerce markets when Back in 2016 Alibaba launched its live shopping platform. It was Alibaba’s Singles’ Day pre-sale campaign in 2020 that generated a total transaction value of $ 7.5 billion within 30 minutes. This made Livestream Shopping popular.
West has taken longer to adopt live shopping than Chinese eCommerce. But fast forward to 2023, and we can say that this new way of shopping has reshaped the eCommerce market globally.
To prove it, here are the numbers:
As for last year, live selling experiences hit $ 20 billion in revenue. What is even more encouraging is the estimated growth of this trend. By 2025, the market is expected to grow almost three times, reaching $ 57 billion.
How does Live Shopping Diversify your Sales Channels?
Here’s how Live Shopping can help Diversify your Sales Channels:
Increases Engagement
Live shopping provides brands with an opportunity to interact with shoppers in real-time, answer their questions, and receive instant feedback. This can help brands build stronger relationships with their buyers and increase engagement.
Depicts Authenticity
Livestream Shopping allows brands to showcase their products through live video. As a result, buyers can gain a better understanding of products through a dynamic, personalized, and authentic experience.
As a result of this dynamic showcase, many questions can be answered that otherwise would remain unanswered. They see how the products perform. And they see it from multiple angles. A live show ensures authenticity by eliminating the need for Photoshop and video editing.
Improves Brand Image
Live shopping can help brands improve their brand image by providing a unique and innovative shopping experience. This can help brands differentiate themselves from their competitors and create a lasting impression on their shoppers. As a result, Live Commerce is a fantastic way of growing brand appeal and differentiation.
Generate Buzz
Live shopping shows can generate a lot of buzz and excitement, especially if they are promoted well in advance. This can help brands create a sense of anticipation and attract new shoppers to their products.
Increases Brand Awareness
Live shopping can help businesses to increase their brand awareness and reach a wider audience, as customers can share their experiences on social media and through word-of-mouth.
Shoppertainment
Live commerce is a fresh and exciting offering. Bringing shopping and entertainment together increases shoppers’ engagement and allows them to interact with fellow shoppers and influencers they enjoy. But Live Shopping is not just entertaining, it’s also informative. A live shopping show can help shoppers learn more about specific products by hearing from the experts.
All in all, live shopping helps to accelerate conversion, it is entertaining, informative, interactive, and immersive, keeping viewers watching longer and bringing the products to life as if they were in the store. Buyers can better justify how they would use, style, or enjoy a product.
In a nutshell, all this leads to a boost in sales for brands, enabling them to diversify their sales channels.
How to get started with Live Shopping?
- Choose a Platform
The first step is to choose a platform to host your live shopping shows. Here are some of the Platforms you can choose from:
Channelize.io Live Shopping Platform
Channelize.io is an end-to-end Live Video Commerce enabler that enables E-Commerce Brands globally to add Live Shopping Experiences within their Websites and Mobile Apps. The Platform can be easily integrated within existing websites and apps with Pre-built integrations for Shopify, WooCommerce, Magento, PrestaShop, Wix, and more, and via API, SDKs, and UI Kits.
Bambuser
Bambuser is a Live Streaming Platform that specializes in interactive shopping experiences. It allows brands to showcase their products, answer customer questions, and offer real-time promotions during live shopping events.
ShopShops
ShopShops is a Platform that connects brands with customers all over the world. Brands can host live shopping events and sell their products directly to customers in real-time.
Livescale
Livescale is a Live Shopping Platform that offers a range of interactive features, including product demonstrations, Q&A sessions, and social sharing. It also integrates with popular e-commerce platforms like Shopify and Magento.
Talkshoplive
Talkshoplive is a Live Shopping Platform that focuses on the entertainment industry. It allows brands to showcase their products during live events featuring celebrity hosts and influencers.
CommentSold
CommentSold is a Platform that integrates with Facebook and Instagram. It allows brands to sell their products directly through social media by commenting “sold” on the post.
2. Plan your show: Once you have chosen a Platform, it’s time to plan your show. This includes deciding on the date and time, choosing products you want to showcase, and planning any promotions or special offers you want to offer during the show.
3. Promote your show: To ensure a successful live shopping show, you need to promote it to your audience. This can include promoting it on your social media channels, email newsletter, and website.
4. Prepare your products: Make sure you have all products you want to showcase ready before the show starts. You may also want to prepare any props or materials you will need during a show.
5. Practice: Before going live, practice and make sure you are comfortable with the platform and any features you plan to use during the show.
6. Go Live: Once you are ready, it’s time to go live. Make sure you have a good internet connection and a quiet, well-lit space for your show.
7. Engage with your audience: During the live shopping show, engage with your buyers by answering questions, offering product demonstrations, and providing any additional information they may need to make a purchase.
8. Follow up: After the event, follow up with your shoppers by sending a thank you message or offering any post-event promotions.
Wrapping-up
It’s no secret that Live Commerce also known as Live Video Shopping is on the rise. And it won’t be long before it doesn’t seem revolutionary anymore. Give your brand a leg up on the competition by producing Live Shopping Shows by leveraging an effective Live Stream Shopping Platform. We hope this guide helps you.
The post How to Diversify your Sales Channels using Live Shopping on your E-commerce Website appeared first on ReadWrite.
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