Forms of shopping don’t just include going to the mall and outlets anymore – it has progressed to online platforms, and most recently, livestream shopping. Livestream shopping involves a seller or store going on a social media platform and exhibiting their products, most popularly clothing items, to be sold to a member of the audience. These livestreams take place on apps specifically made for streaming and selling, like WhatNot, or have taken off on social media apps like TikTok and Instagram.
Social media plays an important role in livestream selling, especially in ensuring the number of items sold. The use of social media is highlighted to make sure that stores and individual sellers are able to get excitement around the livestream before it even happens. This includes utilizing stories and posts to advertise the livestream, specifically to broadcast reminders and push notifications so that viewers won’t miss a thing.
Influencers are also a factor in helping to create more excitement around a livestream. A brand getting an important face from social media, music, and TV will help to bring in more viewers. When the general public’s favorite influencer is endorsing product(s), they trust them and will be more inclined to buy the items. This ties into the topic of brand ambassadors as well, as they can spread more awareness of the brand to different platforms, creating a greater general knowledge about the shop.
Getting buyers to become repeat buyers is also an important aspect of the process. Increasing retention will help to build a more loyal customer base, ultimately increasing revenue and sales. To help do this, stores and individuals give their buyers discount codes, send follow-up emails, and check in every once in a while via communication platforms to see what these individuals would be most interested in buying in the next livestream.
How can brands and individuals track their progress for livestreams? This involves utilizing data and analytics to identify either an increase or a decrease in overall metrics. Some things to keep track of would be viewer count, buyer count, and interaction rate. These metrics will help determine future decisions, which include what products should be shown in a livestream and when is the best time of day to do the livestream.
Livestream shopping ties into digital marketing in many different ways. As the shopping world becomes more digitalized, brands have learned how to adjust. The key is to make sure that no matter what, customers keep coming back to shop for more. Until holograms and futuristic-like shopping methods come into the world of retail, for now, we have the gift of livestream shopping.
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