The history of live broadcast shopping is based on 2016, not today or after the covid epidemic. In 2016, the famous Chinese brand Taobao revolutionized e-commerce. It launched the live-streaming shopping event trend by offering a live stream that allows viewers to shop in real-time.
With the live broadcast shopping event, Taobao made it possible for sellers to feature different products and be able to purchase them within a few minutes. This method, which other brands in China and America have applied over the years, has made it possible to achieve high shopping rates quickly. For example, according to statistics, in 2020, on 11.11, the singles day in China, Taobao sold $7.5 billion worth of products in just the first 30 minutes with live broadcast shopping.
In the rest of the world, an estimated US$5.6 billion in sales during 2020 were made through these events, although the live-stream shopping started a little later. According to Coresight Research’s research;
Live shopping activity figures to reach approximately $25 billion by 2023
Live video commerce sales will account for 20% of all e-commerce by 2026
The fact that video content receives more interaction and the rate of people sharing video content with their friends is 2 times higher than other content explains the success of live shopping. Furthermore, with a well-created live shopping event, almost 15% to 20% of viewers can make a purchase decision. So how do you start a converting live stream event? The answer to the question is in this article.
How to Start a Sales Converting Live Shopping Event
You must follow a few steps to create a live-stream shopping event. First, you can promote products to your target audience and potential customers. Acting with a pre-planned strategy will increase your success rate and sales volume. Let us briefly explain these steps.
Product Selection
Live broadcast shopping events are not improvised. Brands pre-select the products suitable for their sales and marketing targets and organize their publications accordingly. You can also progress through a specific product group in live broadcasts or present a selection from different product groups in the style of “The ones we chose for you.” The critical point here is the selection of products suitable for your sales targets. By choosing the best-selling products on your website, you can further increase the sales of these products. Another strategy is to promote products that could be better sold and have more stock. As users generally see this strategy as a privilege, it is preferred by many brands.
Publisher Selection
Different methods can be used here. For example, if your product is technical, it would be better for a sales specialist with sufficient technical knowledge to immediately answer questions about the product. The publisher can be more than one person. 2 or more broadcasters can also present the live-streaming shopping event. Another method is the use of influencers. The biggest plus of working with a known person with an audience for your product is that the influencers’ audience automatically follows your post and converts into your potential customer. In this method, you can broadcast with 2 publishers as an expert and a known person.
Broadcast Editing
After selecting the products and the presenter, it comes to setting up an event. Here you can make different broadcast setups. Determining the broadcast stream in advance will be the right decision for excellent broadcast management. Which product to start with, whether the presentation will be made in the form of a question and answer about the product, or will educational information be shared? Please determine the answer to all these questions in this step. Next, you need to choose the duration of the live event and share it with your users. At the same time, plan the campaigns using discount coupons or codes and the product’s stock status during the broadcast.
Live Streaming Platform Selection
This is one of the most important steps to ensure that all the efforts you have made above occur correctly and follow your purpose. Prefer a platform with in-stream purchasing features, quality broadcast links, live chat features, and integration with your website.
Live Broadcast Rehearsal
Before scheduling your live stream:
Run a test stream to ensure all features are working.
Ensure that all the components work and that the internet connection is good in this test release.
Note that you can’t rewind anything on a live stream.
For this reason, it is one of the critical details that the presenter rehearses his speech. But, at the same time, be sure to have a plan B for technical breakdowns.
Adding a Live Broadcast Event Button to Your Website
You can use other broadcasting and social media platforms for the live shopping event or broadcast through your website. You don’t need to invest high amounts or update your website for this. Arvia adds a special live shopping button to your website, and thanks to the smart live stream event widget, you can add it in minutes. This way, a live-stream shopping option appears when users log in on the home or product pages. You can contact us to meet Arvia Live Stream Shopping, which has many features such as correspondence, promotion of the product on the air, completing the shopping, and paying without leaving the site.
