Have you considered using live commerce to stand out in the crowded e-commerce market and increase engagement and conversion rates?
E-commerce sales have doubled in the last five years. On the other hand, customer acquisition costs have also increased by an average of 60%. That means online marketing has a higher return on investment (ROI) compared to the past. However, it also has lower engagement and conversion rates than ever before.
See how expensive it is to stand out in the crowded e-commerce market?
As an e-commerce business owner or marketer, you need to take action.
Don’t you have enough budget to promote your brand in a sea of sales noise?
Or are you looking for ways to stand out in the crowded eCommerce market?
Live commerce is your answer! You must catch the Live Shopping wave to differentiate your brand and capture customers’ attention.
Live Shopping brings products to life and lets shoppers see how they look and fit. That helps your brand cut through the noise of the crowded e-commerce market.
Keep reading to discover what live commerce is all about and how it impacts the eCommerce landscape today and tomorrow.
What is Live Commerce?
Basically, Live Commerce combines real-time communication and eCommerce to give customers a more convenient and personal shopping experience. And it’s all done through a video stream. Besides, that allows customers and brands to interact in real-time.
But Live Commerce is about more than just shopping. It was born as a response to customers’ desire for fun and connection. It allows customers to see and experience products more socially and interactively. Then, it turns online shopping into a fun and enjoyable experience.
Overall, Live Commerce has made the process of purchasing faster and more enjoyable for customers.
What are Live Commerce Use Cases?
Live Commerce and Livestream Shopping are often confused with each other. However, they are actually two different things.
Live Commerce is the umbrella term for various methods of conducting commerce through live video. On the other hand, Livestream Shopping is just one specific way to do Live Commerce.
Live Commerce methods fall into two categories:
- Livestream Shopping: In this method, sales are made through one-to-many broadcasts. A host broadcasts to a large audience. And viewers can interact with the host via chat.
- One-on-One Live Video Shopping: In this method, shopping is done through a one-to-one video call with a sales experts.
Both of these methods allow for real-time conversations and a more personal shopping experience. Ultimately, they are part of the growing trend of Live Shopping.
What is Livestream Shopping?
Livestream shopping is a way to shop online while watching a live video. It’s a fun and interactive way to learn about products and ask questions. Retailers or sellers can show their products and talk about them in a live video. Customers can watch and make purchases in real time. It’s like a virtual shopping trip, where customers can see and learn about products without physically going to a store. Livestream shopping events are also great for launching new products or special deals. It’s an excellent way for customers to get a closer look at what they’re interested in buying.
How does Livestream Shopping affect our shopping habits?
Livestream Shopping has had a significant impact on the way we shop. Traditional TV shopping usually involves a host introducing a product and demonstrating it, with the viewer encouraged to call a number or take some other action to make a purchase.
On the other hand, Livestream Shopping is a live and interactive shopping experience. It allows real-time interactions with sales experts, influencers, or different audiences. Thus, it creates more entertainment and engagement for customers. Therefore, Livestream shopping has increased engagement rates by up to 30%. In addition, live interviews and FAQs effectively convert visitors into potential customers.
Live streaming is also a great way to launch new products and boost sales. In addition, you can offer discounts, special promotions, and post-delivery services. And all of them delight your online shoppers.
With the ability to stream to multiple platforms at once, Livestream Shopping makes it easy and efficient for brands to reach a broad audience. As a result, major eCommerce companies like Amazon have seen significant revenue growth through Livestream Shopping.
Arvia’s Livestream Shopping can bring the most out of it for your eCommerce store. It helps you to drive growth and sales in this digital era.
Overall, Livestream shopping has made a significant impact on how people shop. It allows people to shop from home, which is convenient and fun. You can watch a live video while shopping and even chat with the host. Another benefit is that you can make purchases right away. In summary, Livestream shopping is a great way to shop and have fun at the same time.
6 Benefits of Live Commerce for Your Brand and Your Customers:
It is time to introduce live shopping to your brand. It is highly beneficial for your brand and your customers. Here are some key advantages of live commerce for both sides:
- more engagement
- the better shopping experience,
- more fun
- revenue growth,
- brand awareness,
- brand differentiation
Live shopping is a win-win for your brand and your customers. It can significantly enhance the shopping experience for everyone involved. So why not try it and see the difference it can make for your business?
1. More Engagement
Live commerce is a great way to connect with your customers and build loyalty. It’s not just about selling; it’s about creating a sense of connection and belonging. When you communicate directly with your customers, it adds a personal touch to your brand. Plus, it makes them more committed and loyal due to direct engagement. And don’t forget the bonus of social interaction and conversation – it can help improve your customers’ moods and stress levels.
Finally, by bringing customers onto one platform and fostering a sense of community, live commerce encourages loyalty and enhances customer engagement.
2. Better Shopping Experience
Live commerce offers a better shopping experience for customers. They can get real-time information and access the right person from anywhere to ask questions or get recommendations. Also, it helps reduce stress caused by too many options or challenging processes. Plus, live shopping allows customers to get help from the seller and see the product in real-time.
Suppose customers use the live chat to engage with an in-store salesperson. In that case, they can receive personalized service and help with products.
Alternatively, suppose they’re watching a Livestream Shopping show. In that case, they can ask questions on the chat screen or read messages from other customers about the product – all of which increase satisfaction and improve their shopping experience.
3. More Fun
Live shopping is a fresh and exciting offering in the retail market. It combines shopping with entertainment. It provides a fun experience for consumers and allows them to interact with other shoppers and their favorite influencers.
The idea behind live commerce was to create an environment where people shop in real-time and have fun while doing so. Any brand can use Arvia Livestream to promote its products and services in an engaging way.
4. Growth Revenue
Live commerce, including Livestream shopping events and one-on-one live video shopping, can be a powerful tool for increasing revenue. Doing so allows businesses to connect with customers in real-time. Moreover, showcase their products more interactively and engagingly.
During a live shopping event, a brand can showcase products, highlight their features and benefits, and answer questions.
One-on-one live video shopping can be even more personalized than Livestream shopping. It allows brands to tailor their sales pitch to the individual customer, addressing their specific needs and interests.
Live shopping builds trust and interest in the brand. Ultimately that drives more sales and boosts revenue.
5. Brand Awareness
Live commerce can significantly improve brand awareness, whether a Livestream shopping event or a one-on-one live video shopping session.
First, live shopping allows you to interact with your customers in real time. The interaction between your brand and customers builds trust and a more personal connection.
Second, live commerce help to increase your reach and visibility. By hosting a live event, you have the opportunity to expose your brand to a larger audience and attract new customers. Additionally, social media platforms like Facebook, Instagram, and TikTok have features that prioritize live content. Therefore, your event is more likely to be seen by a wider audience. Then what you need to do is you must broadcast live events simultaneously from both your social media accounts and your website.
Third, by offering live shopping events or one-on-one sessions, you can create a sense of exclusivity and make your customers feel special. That improves the customer shopping experience. And, of course, it will positively affect brand awareness, even if it is indirect.
6. Brand Differentiation
Brand differentiation is all about making your brand stand out from the competition. Live commerce will help your customers with a unique and engaging shopping experience. It is an interactive and dynamic way to showcase products. It helps make your brand more memorable and attractive to your website visitors. One-on-one live video shopping sessions allow customers to have a personalized and exclusive shopping experience with your brand’s sales experts. Also, this creates a deeper connection with your customers and sets your brand apart from others in the industry.
Conclusion: Live Commerce
Live Commerce is the next level of eCommerce. So don’t wait to take action. Because time is ticking, and your competitors are already ready to act!
Experience and analytics of Arvia can give you a clearer picture of how you can convert more with live commerce. If you need help getting started, please do not hesitate to contact us. We can help you transform your eCommerce into live commerce that converts more sales.
Are you considering adding live commerce to your online marketing strategy? What is holding you back?
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