July 1, 2021Editorials
Although livestream shopping is a relatively new way of selling products, it’s gaining popularity rather quickly in the online shopping industry.
Livestream, in general, isn’t a new concept. Brands have been using this interacting form of medium to connect with their audience for a while now.
More and more people are shopping online post-pandemic. This is why the livestream shopping industry has seen a rise and seems to have a bright future.
If you want to know how livestreaming can help you achieve your business goals, you have landed on the right page.
In this article, Jumble will take you through a few amazing benefits that livestreaming offers to new and established brands alike.
Before jumping into the benefits, let’s see why you need to start livestream shopping for your brand.
The recent boom in eCommerce shows that the shopping industry has taken a big leap into the online world.
More and more brands are going online as it’s cost-effective and convenient for both, sellers and consumers.
And, the trend doesn’t seem to stop there. Livestream shopping is an aspect of online retail that continues to prove its effectiveness.
So, if you are thinking of using new ways that can effectively boost your sales and brand awareness, consider starting livestream shopping.
Let’s explore some amazing benefits of livestream shopping together. If you are wondering “Why is livestream shopping so effective?”, By the end of this article, you’d know why.
You want to get in front of as many prospects as possible, right? Every brand does! Livestream can easily expand your reach and bring more potential customers to your business.
And, the best thing is, you don’t need to invest a lot to achieve that.
The more people that see your livestream, the better. And, if you are able to reach your target customers at scale, what’s better than that for a brand?
As digital media expand, brands can reach more and more people cost-effectively through livestreaming.
Plus, lots of people prefer livestream videos over conventional ones. The immediate nature of livestreams lets you grab the attention of most internet surfers and deliver your brand message to them.
Another benefit of using livestream shopping is that you can use consumer behavior of impulse buying in your favor.
You see, livestreams are immediate and persuade the audience to take quick action. Even if they know your livestream will remain there even if you push the stop button, they tend to engage with it as it’s “Now”.
Getting your livestream in front of spontaneous buyers can substantially improve your conversions.
Just make sure your livestreams aren’t boring and try to engage your prospects as much as possible with top-notch content.
There can be several benefits of effective customer interaction. But, what if you could also talk with your prospect and find their pain points?
Livestream shopping can let you do that with ease.
Audience interaction helps you understand what your prospects are thinking, what are their pain points, and what are their desires.
Understanding what your target customer wants is valuable information. It lets you mold your marketing message for maximum results.
One thing to keep in mind is that you need to promote your livestreams before going live. Fortunately, any brand can leverage social media advertisement for that as it’s quite inexpensive these days.
You can use Facebook advertisement to create ads that can bring your dream buyer to your livestream without having to spend too much.
Another great thing about livestreams is that you don’t need to set aside a lot of your marketing budget for them.
You can afford to use inexpensive equipment to execute perfect livestreams. The basic equipment you’d need includes livestream software, a computer with a mic, and a stable internet connection.
Livestreaming saves you a lot of trouble as well. For instance, you don’t need to do video editing or hire a video editor.
You don’t need a perfect script: A Livestream allows you to present a more humanized version of your brand.
Your host can just talk to your audience one-on-one without worrying about small mistakes. The more transparent you get on your streams, the more trust you can build with your audience.
If we were to tell you the single most important aspect of a successful brand, it’s effective communication.
Without communicating your message, how can you make your prospects act on your offers?
Livestreams enable you to deliver your message more effectively as you can directly talk to your audience.
In addition, livestreaming allows brands to address any misinformation about their business or products immediately.
You can also use livestreams to convey your brand news and messages. It’s the best tool to get in touch with your customers instantly.
Educating prospects about your products is probably the greatest driving force for conversions. If you want to increase your sales as a brand, livestreaming can help you do that.
The better your prospects understand how your products or services can add value to their lives, the higher the chances of conversions.
A good strategy to educate your livestream audience is to create an explainer video about your product and conduct a Q&A afterward.
While every brand can increase their conversions with this strategy, businesses with complicated product features can benefit more.
As you can show your products live to your audience, you are better able to help them understand what they are all about.
Seeing a product in action can certainly help your audience put their trust in that product. If you can use the product in front of them, you’d be helping them make a confident purchase. This can help your product return rate as well.
Product returns can be quite damaging to a brand. And, it can be quite painful too, especially when you are not at fault.
Fortunately, there are strategies that can help you reduce your returns, helping your profitability. Livestream shopping is one of the most effective strategies.
How can livestream shopping help reduce returns, you ask?
Livestreams help you provide the right information about whatever you are selling. For instance, you can get your audience to ask any questions about your product. This way, you’ll be able to address any misconceptions or confusion about your products.
Livestreaming allows you to showcase your products live. This helps the prospects understand every feature and functionality before making the decision, which makes their purchase a well-informed one.
You need to reach as many people as possible to build brand awareness and attract more prospects.
The urgent and interactive nature of livestreams helps you engage more people with your content. Even if someone doesn’t become your customer, livestreaming can boost your brand’s awareness.
And, the more you can get in front of your target customers, the more likely they’ll do business with you.
Your number one goal with any marketing strategy is increasing customer satisfaction. Your happy customers are your most valuable asset.
With them being on your side, you don’t even have to invest in marketing efforts and try to get in front of more prospects.
If the list of your existing customers is long enough, you might not want to invest too much into the advertisement.
Your happy customers can bring new prospects to your business through word of mouth and positive testimonials.
Livestreams help you increase customer satisfaction and brand loyalty. These happy customers act as your brand advocates, keeping the flywheel of your business moving.
As discussed earlier, conducting livestreams is not an expensive task. You can carry out a high-converting livestream even on a lean budget.
While you are attracting prospects with low investment, your profit margins are the same. This eventually leads to more profit for your brand.
Another great thing about doing livestreams is that you have a lot of options as far as the software is concerned.
Jumble has its own livestreaming software that’s easy to use and provides great control over your livestreams.
If you think eCommerce has replaced brick-and-mortar shops, think again. While eCommerce offers great convenience, it still doesn’t match the consumer-product connection. But, same as everything else, the online shopping industry is continuously evolving. Livestream shopping somewhat manages to provide that connection that an eCommerce store doesn’t. In this article, you’ll know why we think that livestream shopping is the next big thing in retail. And, why you should be taking it seriously for your retail business. Let’s dive in.
The fact that eCommerce has only been growing since its inception tells us a lot about consumer behavior. They don’t always want to visit brick-and-mortar stores and browse through the products to buy something. Why bother when you can buy the same thing from your device? However, an eCommerce store doesn’t offer much insight into the products it is offering. Livestream shopping does. In this article, we’ll see how livestream shopping has become so popular and why is it the next big thing in online shopping.
Livestream shopping aims at reducing the product-consumer gap that eCommerce somewhat fails to fill.At a brick-and-mortar shop, consumers can check out a product directly and ask questions to the salesman about it for their peace of mind. Whereas, while eCommerce offers a streamlined shopping experience, consumers may not get the necessary peace of mind with some products. Livestream shopping is basically when an influencer or host tries to sell products through live interaction. The live interaction allows the host to answer any questions that can affect consumers’ purchase decisions, improving the chances of conversions. The good thing is, with livestream shopping, you don’t have to attract a new audience. You’ll be attracting the eCommerce shoppers that want a little more out of their shopping experiences. It capitalizes on the ever-growing eCommerce audience.
Now that you've heard enough about this amazing opportunity for your business, it's time to rethink how you'll ready your audience for the live stream. You'll get a viewer that joins because they saw your video while surfing a website like Jumble, but you do want to spread the news to the right people about this must-attend experience. All of us will see anything we want when browsing through pages and websites and remind ourselves we'll get it later, or we'll throw it in the basket or save it on Instagram. It's critical that the crowd remembers and labels this one-of-a-kind experience with a red glad.