The missing link of live streaming is finally upon us – in hindsight, we should’ve really seen this coming!
Guess what that link is?
It’s a truly brilliant ability that allows consumers to purchase any product of their choice directly from a video.
Look, we all know that nothing beats the experience of going on a shopping spree in person, but to stay sane in this pandemic stricken era Livestream eCommerce (or Livestream shopping) is truly the next best thing.
Just take a look at the stats, according to a recent article published by Forbes, Livestream shopping boom in the U.S is projected to reach $11 billion by the fall of 2021 and a jaw-dropping $25 billion by 2023.
But before we get to the benefits of Live Streaming eCommerce, let’s get clarity on a few basic terminologies.
Livestream eCommerce – Embrace the Future of Online Shopping
Simply put, Livestream eCommerce leverages the power of live media in order to sell products or services.
Through this amazing mashup, companies can now sell retail products, training courses and even host engaging Q&A sessions with their audiences to answer any questions they might have.
Livestream + eCommerce: A Match Made in Heaven
eCommerce is an industry that has to adapt to the latest trends and techniques to keep up with their customer’s ever-increasing demands and strive for audience engagement.
Here are a few reasons why eCommerce and Livestream make the perfect pair:
- Livestreaming makes some aspects of shopping a LOT more convenient
- Livestreaming is so much more than personalization – it’s just personal.
- People tend to spend a lot of time online especially the millennials and the GenZ
Make Live Streaming Commerce an absolute breeze and take your customer engagement to the next level. Get started with Muvi Live today!
The Difference Between Livestream Shopping & Home Shopping
Wait a second… haven’t we seen this trend before?
After all, home shopping was a massive deal in the 90s and 2000s thanks to channels like Home Shopping Network and QVC, to name a few.
So how exactly is live stream shopping any different?
Well, to begin with, Livestream shopping utilizes social media platforms and social networking to the fullest. Whereas at home shopping customers could only interact via call-ins and occasional emails. The whole concept behind integrating Livestream with eCommerce is to enable a more personal interaction between a host and their followers.
Now that we’re done with the Whys and the Hows let’s have a look at the 4 Ingenious Benefits of Live Streaming eCommerce.
1. Reduce Distribution Costs Drastically
Products can now be sold directly to customers from a warehouse instead of being shipped from brick-and-motor spaces, thus tremendously reducing overhead costs.
Livestream eCommerce also streamlines the following processes creating an easier order-of-operations:
- Super simple order placement
- Hassle-free label creation
- Easy shipping process to consumers
Thus, ensuring the customer receives their order as early as possible.
2. Reach Customers Effectively With Multiple Contempt Formats
Live streaming enables that organizations in the eCommerce space to engage with their audience utilizing the following content formats:
- Video & Audio
- Text &
- Live chats
According to us, the best part is you can repurpose the content you stream during your live streaming sessions and make it available to your viewers in the form of a pre-recorded video for future references.
3. Increase Customer Engagement & Conversion Rate Massively
Live Streaming eCommerce or Live Commerce gives you the power to connect with your customers on a far more personal level.
For instance, just by providing a demo of your product, you have the opportunity to connect with high intent users who are much more inclined to purchase your product.
Customer Engagement is directly proportional to the Conversion rate – which means that more the engagement the longer viewers will stay in your Livestream increasing the chances of a sale.
4. Track and Measure Marketing Efforts to the Tee
Strictly targeted email campaigns and tailored social media messaging are among the most effective inbound marketing techniques that can be implemented to maintain customer satisfaction.
Using Live Commerce you have the ability to communicate with your customers through coupons, email newsletters and PPC(pay per click) campaigns.
Livestream eCommerce: The Undisputed Future of Shopping
Whether it’s Livestream eCommerce, Live Commerce or Live shopping, at their core they serve a single purpose: To bridge the gap between convenience shopping and personal interaction.
Even though Livestream eCommerce platforms are currently quite disorganized in the U.S. offering lacklustre experiences, they are destined to become mainstream within the next ten years.
An Influencer based live commerce sector will most definitely dominate North America as it did in Asia.
Experience Livestream eCommerce Untethered & Obliterate Your Competitors With Muvi Live
We have just one question for you: Are you ready to deliver brand-defining video & audio experiences with an Enterprise-grade live streaming platform?
Well, your search is FINALLY over!
With Muvi Live you can not only quench your thirst for Live eCommerce but also perform the following additional activities:
- Stream Online Games and eSports
- Organize breathtaking live events
- Conduct Super Interactive Presentations
- Offer Both PPV & Subscription
And so much more!
Go Beyond Traditional Livestreaming Realms
- Produce Professional live event in a completely Do-It-Yourself (DIY) set-up
- Be a “video & audio-first” company. Plan, train, execute, deliver – all through videos & audios
- Increase engagement, convert faster, yield results
- 24×7 White glove support
Start your 14-Days free trial(No credit card required) today and boost your engagement and sales with the ultimate live experience.