Live-streaming for eCommerce and D2C brands has become hugely popular in China and is also getting attention in the rest of the world markets. The story originated from China itself which started experimenting with Live streaming. It all started when fashion e-commerce platform Mogujie leveraged live streaming to sell apparel, and Alibaba’s Taobao followed the suit. During these streams, hosts tried on different clothes while viewers asked about the fabric and requested them to try the same with a different set of accessories.
Let us look at some of the numbers:
- During Singles Day 2019 live-streaming contributed over 7% of Alibaba’s sales
- Overall China’s live-streaming eCommerce industry reached 9% of all eCommerce sales in 2019
- 2020 revenue projections hover around 129 billion USD
These numbers make it clear that Live streaming is definitely the new frontier for eCommerce and D2C brands.
Live streaming e-commerce is an attractive opportunity for eCommerce and D2C brands to expand their distribution channels to far-reaching customers. Growth in this industry will not only benefit brands but also consumers, who will see varied and better-curated content as the industry grows.
Today customers want authenticity, engagement, and interaction and this is where live-streaming works the best! Live streaming adds a human element that helps brands to build trust with their customers. Furthermore, for e-commerce and D2C brands, which solely rely on their online existence, live-streaming offers personalization to their target audience.
Let us look at the benefits of Live Streaming
Being able to view an event live, raw and unedited allows for a more authentic and genuine experience. Conducting live product demo, office tours, or sharing your product journey can cement the audience’s trust in your brand. Furthermore answering customer’s questions via chat during a live stream shows the authenticity of a brand.
One of the primary reasons why live streaming is making an impact is that it offers real-time user engagement. Live stream initiates a real-time two-way interaction wherein customers can be a part of a Q&A session, product launch, panel discussion, etc. Such live interactions further create a much more dynamic experience as compared to a static one where you can only listen and not interact.
Live stream allows consumers to provide feedback in real-time and get an instant response, which increases their sense of value. Live polling can be a way to know the likes and dislikes of your buyers. All this makes customers be more invested in your products or services because they know their opinions are being considered and they are being listened to.
Sense of urgency
Live shopping adds a sense of urgency that your viewers cannot ignore. Audiences tend to be passive when content is easily accessed at any time but with live streaming, audiences are inclined to view the video right now. Furthermore, running flash sales or real-time draw events create a sense of urgency can boost not only customer reach but also customer engagement.
Compelling video storytelling allows your brand to stand out and get noticed by customers. Live shopping involves showcasing products in engaging, attention-grabbing. This creates brand awareness and gives customers a conviction around their purchase decision.
Get-to-market fast without “Re-inventing the Wheel”
Live streaming offers a seamless shopping experience to buyers which closes the gap between consumers and products while driving sales. Brands can host live Q&As, interviews, behind scenes, product demos, and make shopping much more fun and engaging and attract audiences.
A Successful live stream not only draws new customers to your brand, but it makes your current and past customers feel more in touch with your brand. Live stream helps customers understand who you are which gives them a reason to choose you over your competitors.
Creating your Live Streaming commerce Solution requires a tremendous amount of time, resources, money, thinking critically about the company’s goals and priorities, etc. But opting out for technology platforms with API & SDKs that can help eCommerce & D2C Brands get-to-market fast with Live Streaming Commerce, without “Re-inventing the Wheel”.
Now once you’ve decided to buy a live streaming eCommerce solution, it’s time to choose which channel to use.
Channelize.io Live streaming solution for commerce can be your one-stop solution that can help your eCommerce or D2C brand to improve
- Sales conversion rate
- Cost per acquisition
- Average session time
- Repeat customer rate and much more!
Channelize.io completely white label live streaming solution reduces the time and expense of designing a live streaming solution and thus enable D2C and eCommerce brands to achieve their goals.