March 25, 2021Editorials
In the age of internet fame, sharing your life as a profession, marketing has been blooming more than ever. Brands have been competing for the attention of the audience of stars like the Kardashians, soon only to realize the expansion of opportunities with the presence of mini-stars, micro-bloggers, who’s much smaller audience does not lack in support or devotion. Their support in a product has shown to bring much higher conversion rates than the celebrities, while having higher engagement rates. How does this relate to brands marketing strategy innovation and its use for Live Stream selling?
Mini-stars with 50-100 thousand followers have an audience that has more trust in them than the more famous stars of social media. Instagram has been a powerful tool to create an audience for those posting their life and identity in a stylish way. It is observable that the ones who have become giants of Instagram have a less unique approach to their online presence, maybe due to their name becoming a brand in itself and using it mostly for personal gains. The ones with a smaller audience have more transparency with their likes and experiences, thus are more authentic. This creates a deeper sense of familiarity for their followers, whose trust grows with each post. Being more relatable and viewed as more ‘common’ by their followers, those in return are more interested in what they recommend to buy.
It is not just about making your advertisement or product be seen, it is about conveying your brand identity directly to the hearts of your audience. Less about the visual effect, the internet and TV is already full of advertisements screaming you are missing out on the best thing there is. Having the unprejudiced attention of the audience is priceless. Having someone who is viewed as a peer or a friend talk about their experience of your product is different to having someone who does it on a daily basis and the fans are already used to the concept of them making a business out of it.
This goes perfectly with Livestream Shopping selling and your brand choosing the perfect host for your presentation. Targeted marketing through micro-bloggers acting as hosts will bring you a much more lively audience and you are more likely to have their attention for the whole stream. You can target the audiences more efficiently, adding to the intimacy and trust created by going live already. It will be a more unique event, bringing the audience and your brand closer through this third party that brings realness and life to the table. At better costs, you will have more engagement and conversion rates. You can switch up the hosts you choose, opening up to a whole new level of opportunities by maybe making them shorter, but more often. The viewers will want to act on those discounts and excitement spread by someone they see as a peer. Seeing a down to earth human that they relate to so much, they will almost automatically believe in your products presented. The critique will be honest, not just paid for. Thus, less resistance to skip onto the next opportunity out there.
Livestreaming is the latest evolution of online marketing. China is dominating the livestreaming market. Brands in China made over $136 billion in 2020 using livestreaming alone. Imagine the potential that it could bring to your brand. It is a natural continuation from the days of YouTube videos and Instagram posts. A key aspect of livestreaming is the use of influencers and celebrities who can bring their followers and audience to your live stream to tune into your event in real-time.
Livestream shopping is a new popular trend that allows customers to find out more about their favourite brands, ask questions, and the option to buy items straight from the Livestream. It also offers customers a more engaging experience than simply clicking and loading a virtual shopping cart. Livestream shopping takes advantage of social media's natural interactivity. Comments flash through the screen as audiences tune in.
Even before the world grinded to a halt, retail shops have been closing their doors. The convenience of online shopping meant that most people were choosing to shop from the comfort of their own homes, instead of venturing to the local high street or by going to the city. It’s a growing trend that we’ve been seeing since online shopping skyrocketed almost a decade ago. The pandemic and lockdowns led to an increase in store closures. In 2020, a lot of retail stores closed indefinitely, showing that keeping business as usual is no longer a possibility. For businesses to grow and continue to strive, they have to adapt to the revolving retail business.
To get into this sky-rocketing side of e-commerce is becoming a must-do for every brand. For numerous reasons, it is becoming a way to boost you following, push your products forward in a unique and enticing way. It is much easier to live stream than to create an advertisement video and has a much more powerful effect and advantages for all three parties involved in the process. Platforms like Jumble are taking off a lot of pressure from brands, in regards to marketing, shipping, selling process and awareness creation.