Is livestream shopping part of your marketing plan? Adding live streaming to your marketing plan comes with several benefits.
A marketing plan is like a map to help you navigate your marketing efforts. It enables you to identify your target audience and figure out the best ways to reach and engage with them. It also includes marketing strategies and budgets to ensure you’re on the right track.
Think of it as a roadmap for all your marketing activities. So you can make sure everything is aligned with your business goals. Plus, it helps businesses coordinate campaigns and measure their success.
For example, let’s say your target audience is stay-at-home moms. In this case, a marketing plan helps you decide whether to try social media or targeted ads to reach them. Additionally, the plan will include several techniques for attracting and converting stay-at-home moms into customers. It’s like having a GPS for your marketing efforts, directing you toward success!
Integrating live shopping into your marketing plan requires a well-rounded approach. Although you will need a thorough understanding of event marketing techniques, certainly your brand will engage your audience effectively. Moreover, live shopping events will help increase brand visibility and drive sales.
It seems like a lot, I know. But don’t worry; I’m here to guide you through it. I’ll break it down for you.
Marketing Strategy: How to create one and incorporate livestream shopping
You shouldn’t just update your marketing strategy on a whim.
This could end up costing you 10s, even 100s of thousands of dollars if you don’t look at these statistics. Here’s what’s going on according to
- About 48% of companies spend between 4-10% on marketing- Hook agency
- The average adult in the U.S. spends 2 hours and 20 minutes on social media- Obrelo
- There’s an average of 11.2% of revenue spent on marketing- Brafton
With that being said, make livestream shopping part of your marketing plan. It’s a whole new way to reach your target audience. During livestream shopping, customers can watch and interact with products live.
Incorporate livestream shopping into your marketing plan by thinking about what you sell. Also, consider your target market and your competitors.
You’ll want to ensure that livestream shopping is a good fit for your business. Additionally, make sure it aligns with your overall marketing goals.
The goal of targeted marketing is twofold. The first thing is to keep customers engaged and loyal. Second, you need to gain market share within a particular segment of your target demographic.
To accomplish both goals, you’ll need a marketing plan. Your marketing team will also take specific actions. It will include
- Specific outreach campaigns.
- Channels customers will use.
- The budget.
- Projections of their success based on data.
For campaigns to be successful, marketers need months of data. Integrating marketing with long-term goals keeps your company on track. A marketing plan has six key elements. Here’s how to incorporate live shopping into it:
1. Situation analysis:
Before you start live streaming, doing “situation analysis” is critical. Foremost, it gives you a clear understanding of the current landscape. Take a look at your industry, your target market, and your competition.
Consumer behavior related to livestream shopping helps you figure out your potential customers. Understand their needs, and you can figure out what they want. Additionally, it’s helpful to see what other businesses in your industry are doing. So you can come up with a strategy that works for you.
Let’s face it; you don’t want someone else live streaming the same thing halfway through yours. That would be awkward!
A thorough situation analysis is like doing homework before a big test. It’s essential to do your research to develop an effective marketing plan. A strong plan will address the unique needs of your business and target market.
2. Marketing objectives:
Are you trying to spread the word about your brand? Are you trying to sell more stuff? Then, your live shopping events should be centered around your goals.
In marketing, you tell your brand’s story to customers; the tone and characters should stay the same. An executive summary summarizes your marketing goals for the following year. You shouldn’t think of marketing campaigns as separate functions.
Your marketing goals should be specific, measurable, attainable, relevant, and time-bound. These goals should work together to achieve both internal and external harmony. It builds on previous chapters and tells customers exactly what your message is.
For example, you’re trying to increase brand awareness. Your goal might be to double your social media following in the next six months. This way, you’ll have a versatile marketing strategy to achieve your objectives.
What better way to do that than holding a giant party with free samples of your products? That’s sure to get people talking and following you!
Read also: Live Commerce: How Live Video Shopping is Changing the E-commerce Game
3. Target market:
The target market is who you’re trying to sell your product. A target market in a marketing plan is a group of consumers a business is trying to reach. And then sell to them.
Are they teens? Parents? Outdoor enthusiasts?
You can identify these groups of customers through market research and analysis. Usually, it’s characterized by specific demographics, geographical characteristics, and psychographics. So, for example, when your company offers 30-minute lunches, traditional 9-to-5ers will be there.
Businesses can create a more engaging experience by understanding their target audience’s needs. For example, you can make it more personal by tailoring the shopping experience according to your customers. Additionally, it involves adapting content, format, and promotions.
And, of course, advertising the livestream to reach and engage the audience as well.
Make a marketing plan to address pain points once you know your target market. An excellent way to do this is to use language and imagery that resonate with the target market. In addition, businesses can improve their success by identifying the best platforms, channels, and strategies. It is especially true with livestream shopping. It’s the most effective strategy for engaging the audience.
4. Marketing mix:
When it comes to livestream shopping, the marketing mix is like a recipe for a successful event. It includes four main ingredients: product, pricing strategy, place, and promotional efforts.
Product refers to the items being sold during the livestream event. It includes features, design, packaging, and branding. It also includes other elements that make up the product.
However, prices are based on the item’s cost and how it compares to the competition. Therefore, you should also consider the target market’s price sensitivity and discounts.
In the event world, place refers to how and where the product is made available to customers. It includes things like the platform, the timing, and the distribution channels.
Promotion is how you tell and remind people about the livestream. And where you are going to host them. Promotions, public relations, personal selling, and direct marketing are all part of it.
When planning a live shopping event, consider the right mix. You’ll offer the right thing at the right price on the right platform and promote it effectively. You’ll get what your customers want, and your event will be a hit!
5. Implementation:
Implementation is about putting your livestream shopping plan into action!
Set everything up, so it’s ready to go for the event. Make sure everyone is on the same page. Figure out technical details, create promotional materials, etc.
It’s a lot of work, but you’ll have a blast with proper planning and coordination!
This includes:
- Testing the equipment, software, and platform for the livestream event.
- Creating promotional materials and content for the event. Posts on social media, email campaigns, etc.
- Setting up a budget and timeline and dividing responsibilities.
- Keeping track of internal teams and external partners.
- Making adjustments based on the success of the event
It’s an ongoing process that requires careful planning and coordination. First, ensure the livestream shopping event proceeds well and achieves its goals. Also, you need to know who your competitors are. So you can come up with the right strategies and tactics.
This is the part of your plan where you’ll turn your ideas into action.
Read also: Livestream Shopping Events: Build Your Revenue Stream with Frequency
6. Evaluation and control:
Here you will write down how you’ll track how well your live shopping campaigns do.
Evaluation and control are all about it!
Monitoring each live shopping campaign’s performance will show the success rate. Aside from that, campaigns might need tweaking. You can track things like sales, engagement, and customer feedback.
For instance, you can adjust your campaigns if customer feedback shows unwanted opinions.
You’ll be able to make informed decisions and ensure each campaign is as effective as possible.
On the other hand, instead of using billboards or commercials, you can gain insight into prospects’ intent using digital channels.
Consumers are 27 times more likely to click on online video ads than standard banners- CMO.com
As well as, to be successful, your marketing team needs to reach target audiences consistently. By turning intentions into predictions, you can predict the future.
Read also: Live Selling Mastery: 6 Proven Tips for Successful Livestream Shopping Campaigns
Add Arvia live streaming feature to your marketing plan:
Wouldn’t it be great if your customers could interact with you live? You can do it now.
The Arvia livestream shopping feature allows customers to click on a product to learn more about it. A single click is all it takes for your customers to join a video call with your expert using this widget.
By integrating Arvia into your marketing plan, all broadcast analytics are at your fingertips! Like
- How many people have joined?
- Sales conversion details.
- Likes, shares, comments, and questions.
Learn more about our livestream shopping widget for your upcoming marketing campaign!
Conclusion: Adding livestream shopping to your marketing plan
Your marketing plan now includes livestream shopping strategies, which you need to implement. First, create content and materials for your live shopping events. Then promote them to your audience.
In addition, organize all the resources or logistics needed to run them. Then, monitor the performance of your live shopping events. So you can make any necessary adjustments.
Finally, keep your marketing plan up-to-date to align with your business goals and audience needs. Updating the marketing plan is a systematic process. Above all, that helps you to make it more successful over time.
For example, run a marketing campaign to promote your live shopping events. After that, evaluate the results and apply what you’ve learned to make your next campaign even more successful.
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