Shane Barker is a digital marketing consultant who specializes in sales funnels, targeted traffic and website conversions.
Livestream shopping is quickly becoming one of the most popular trends in e-commerce. But what exactly is livestream shopping? Think of it as QVC in the digital age. Or a happy collaboration between video marketing and social commerce.
It’s a live video broadcast during which you can see and hear a presenter showcasing products, and then purchase them on the spot if you’re interested.
In fact, by 2024, e-commerce revenue from livestream shopping is expected to grow from $11 billion to $35 billion. Livestream shopping offers all the benefits of online shopping (convenience, variety, competitive pricing) with the added bonus of a live, personal connection with the seller.
Big brands like Burberry, Louis Vuitton, Nordstrom, Aldo and others are already leveraging livestream shopping to connect with their target audiences and boost their sales. And if you’re a small business owner who wants to grow your business, I believe it’s time for you to follow suit.
Livestream Shopping Works Across Industries
Which industries are well-suited for livestream shopping? Here are a few types of businesses that can get started with livestream shopping:
1. Retailers – Livestream shopping is a great way to show off your products and engage with potential customers. If you have a physical store, you can use livestreaming to give customers a virtual tour!
2. Service Providers – Whether you’re a hairdresser, makeup artist or personal trainer, livestream shopping can help you promote your services and reach new clients.
3. Restaurants – Showcase your culinary creations and let viewers see your restaurant behind the scenes. You can even use livestream shopping to take orders and deliver food directly to your customers’ homes.
4. Event planners – Give potential customers a taste of what your events are like. This is a great way to generate interest and get people excited about attending your next event.
5. Artists – Share your creative process and sell your art directly to viewers. Livestream shopping is the perfect platform for showcasing your work and connecting with potential buyers.
Don’t make the common mistake of dropping livestream shopping off your to-do list if you don’t see your small business listed here.
Any small business with a strong online presence is also a great candidate for livestream shopping. That’s because customers who are familiar with your brand and comfortable shopping online will be more likely to take advantage of this new feature.
Another category that is well-suited for livestream shopping is businesses that sell unique or niche products. If you sell products that are unique or hard to find, then livestream shopping can help you reach a wider audience. Customers who may not have been able to find your products before will now be able to see them in action and learn more about them before making a purchase.
If you sell products that are best demonstrated live, then livestream shopping could be a great fit for your business. For example, if you sell cosmetics or cooking supplies, customers will want to see your products in action before they make a purchase. Livestream shopping gives them the chance to do just that.
Getting Started With Livestream Shopping
If you’re a small business owner, you might be wondering how to get started with livestream shopping. It’s actually pretty easy—and it can be a great way to reach your customers in real time. Here are a few tips:
1. Choose the right platform.
There are a number of different platforms that you can use for livestream shopping, so it’s important to choose one that’s well-suited for your business. If you’re selling products or services that are visual in nature, then a platform like Instagram Live or Facebook Live may be a good choice. If you’re selling more technical products or gaming-related services, Twitch may be a better option.
2. Plan your show.
Just like any other type of show, a livestream shopping show needs to be well-planned in order to be successful. You’ll need to decide on a format, choose the right products or services to showcase and come up with a plan for how you’re going to engage with your audience. You’ll also need to come up with a catchy title and description for your stream, as well as create some eye-catching visuals (think: images and videos).
3. Invest in the right equipment.
Before you start livestreaming, you’ll need a device that can livestream videos. This can be a smartphone, tablet or even a webcam connected to a computer. You’ll also need a stable internet connection and a quiet place to film.
4. Decide if you want to partner with influencers.
When it comes to livestream shopping, partnering with influencers can be a great way to get your products in front of a larger audience. Not only do influencers have large followings, but they also tend to be more engaging and entertaining than traditional retailers.
Plus, since influencers are often seen as trusted sources of information, their endorsement can help convince viewers to make a purchase.
If you have a small budget, you could collaborate with macro- or micro-influencers who have the same target audience as yours. That way, you can get a targeted reach without having to spend a lot of money.
5. Promote your broadcast.
Once you’ve chosen a platform and prepared your products, it’s time to let people know about your upcoming broadcast. Use social media, email marketing and other channels to get the word out.
6. Keep your audience engaged.
During the broadcast, be sure to interact with your viewers. Answer their questions, offer discounts and make the overall experience enjoyable. After the livestream is over, follow up with your viewers. Thank them for watching and encourage them to buy your products.
Just like big businesses, small businesses need to keep up with the latest trends to stay relevant. And in today’s world, that means using livestream shopping. Livestream shopping is a great way to reach potential customers and make sales. By following these tips, you’ll be well on your way to success!
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