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5 Marketing Reasons your business should do livestream

April 23, 2021

Editorials

5 Marketing Reasons your business should do livestream

eCommerce provides an excellent alternative to traditional shopping. The fact that you can explore any product and can place an order with just a click of a button saves a lot of hassle and time.

However, it isn’t the same as holding the product and have a feel of it. There is a risk factor involved in online shopping.  

Live stream shopping reduces the customer-product barrier. Prospects get to see it in action, ask the host anything about it, and have the necessary peace of mind before going through with the purchase.

Let’s discuss 5 reasons your business should be live streaming.

Wider Reach

With live stream shopping, anyone from anywhere can enter your virtual shop. Even the people that are loyal to other brands.

Plus, most social media users trust branded videos. 64% of customers buy a product after viewing its branded video on social platforms.Attracting that audience won’t be difficult.

A wider reach means interaction with more potential buyers and eventually, a higher chance of conversions.

More Engagement

Live streams can be quite engaging. Their unpredictable nature keeps the audience hooked, maximizing your engagement rate. Your prospects can ask questions about your products, brand, and anything related to your industry.

It provides an opportunity for you and your prospects to share ideas and ask questions, developing a strong bond along the way.

And, despite the dwindling attention spans, live streams allow businesses to retain their customers’ attention for long periods.  

People tend to watch live streams 10to 20 times longer than videos on demand.

This allows you to not only deliver your message more effectively but also build a long-term relationship with your audience.

Real-Time Interaction HelpsDecision Making

With a live stream, your prospects get to interact with you in real-time. This allows them to check out every aspect of the product and get the necessary state of mind before going through with the purchase.

The real-time interaction in live stream shopping even allows the host to try the product, going the extra mile to help their audience decide.

Builds Credibility and Trust

While live streaming for business doesn’t provide a polished look, it’s genuine and authentic. The uninterrupted approach in a live stream attracts most prospects.

It builds the trust and credibility of the host, and in turn, your brand.

Once your customers start trusting you, they’ll start believing in your brand. Leveraging that trust, you can convert one-time buyers into long-term loyal customers.

Is Cost-Effective

Live streaming for business doesn’t have to cost you much either. You just need a camera and a setup, an influencer (if you are not hosting yourself), and a live streaming app.

Using an influencer can save the cost of acquiring new prospects. Influencers in a particular industry have an established audience that trusts them.

You can leverage that trust and put your product in front of them through those influencers.But, be sure to go with the ones having an audience related to your business and a good engagement rate.

With live streaming for business, you also don’t need to spend editing and polishing the video clip. You can invest that budget in other areas of your business.

Final Thoughts

Live streaming for business is a relatively new approach in marketing.It minimizes the product-consumer gap in eCommerce and helps prospects with their buying decision with live demonstrations.

It gives a feeling of authenticity to your brand. Your potential customers can interact with the host and get their questions answered. It can help you develop a bond with your prospects, building trust, and eventually making them loyal to your brand.  

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