The world of sales is constantly evolving, and one of the hottest trends at the moment is the live commerce. This innovative way of real-time sales has transformed the way brands connect with consumers online, providing engaging and interactive shopping experiences.
In this article, you'll learn all about live commercefrom its emergence and recent growth, to benefits for brands and how to make live broadcasts efficiently. Are you ready?
What is live commerce?
Also known as live shop or live stream shopping, it is a revolutionary form of e-commerce which integrates live streaming elements with online buying and selling activities.
Unlike traditional shopping platforms, where consumers browse static products in online catalogs, live commerce offers a more dynamic and interactive experience.
During the live broadcasts, sellers present products in real time via live videos, interacting directly with viewers and answering their questions and comments in real time.
Viewers, for their part, can make purchases directly during the broadcast, clicking on the products displayed and completing the purchase without leaving the platform.
It is precisely this immersive and personalized approach that has the potential to significantly increase consumer engagement and boost sales. After all, viewers are able to experience products in a way that is closer to reality and get instant answers to their questions before making a purchase.
Live shopping is often carried out on social media platforms such as Facebook, Instagram, YouTube and TikTok, where users are already familiar with the live streaming format. However, it is also possible to broadcast live on dedicated e-commerce sites or mobile apps specifically for this purpose.
How did live commerce come about?
Although the concept of real-time sales is not new, the live shop as we know it today originated in China, where it has become extremely popular with online consumers.
Alibaba, one of China's e-commerce giants, was one of the pioneers of this format, launching "Taobao Live" in 2016. Since then, live commerce has spread rapidly to other countries, including the United States and several European countries, driven by the advancement of live streaming technology and the growth of the social networks.
Growth in recent years
In recent years, live commerce has experienced explosive growth around the world. According to data from consultancy firm McKinsey, global live shop sales have surpassed US$ 400 billion by 2023This represents a significant slice of the e-commerce market.
This growth is driven by the increased adoption of smartphones, the popularity of social networks and consumer demand for more immersive and personalized shopping experiences.
Benefits for brands
If you're still not convinced of the power of live commerce to boost your business, check out the benefits that live sales over the internet offer brands:
- Consumer engagement: live broadcasts allow brands to connect directly with consumers, providing authentic and personalized interactions that stimulate customer engagement and loyalty.
- Increased sales: the live shop has the potential to significantly boost sales by offering viewers the convenience of making instant purchases during live broadcasts, without leaving the platform.
- Brand building: live sales over the internet allow brands to demonstrate their products in a dynamic and engaging way, helping to build a positive and differentiated brand image.
- Instant feedback: real-time interactions allow brands to get instant feedback from consumers, identifying market trends, adjusting their sales strategies and improving the customer experience.
- Content creation: Live commerce is an excellent opportunity for brands to create exclusive and relevant content for their target audience, increasing viewer interest and participation.
Types of live commerce to boost your sales
There are different types of live commerce, each with its own characteristics and applications:
- Product broadcasts: in this format, salespeople present and demonstrate specific products, highlighting their features and benefits.
- Interviews and Q&A: live broadcasts can include interviews with industry experts, influencers or even satisfied customers, offering additional insights to facilitate sales. On the other hand, it can also include questions and answers to interact with viewers.
- Special Events: product launches, fashion shows, raffles or promotions to attract and engage viewers.
How to run an efficient live shop?
Conducting live sales online efficiently requires careful planning, professional execution and a solid understanding of your target audience's needs and preferences. Below are 7 simple and effective tips to ensure that your live shop is a success:
1. Know your audience
Before starting your live broadcast, it is essential to understand who your viewers are and what they are interested in.
So start by researching the demographic profile of your target audience, their interests, purchasing preferences and online behaviors.
This will help you adapt your broadcast to meet the needs and expectations of your audience, increasing your chances of success.
2. Plan your live broadcast in advance
Proper preparation is fundamental to the success of a live shop.
So define the purpose of your broadcast, choose the products that will be presented, prepare a detailed script and test all the broadcast equipment in advance.
Also, make sure your internet connection is stable and high-speed. Otherwise, you could suffer interruptions during the broadcast and compromise your brand's credibility.
3. Create an attractive environment
Another interesting detail when doing live commerce is to take care of the aesthetics of the environment where you will be broadcasting. The ideal in this case is to choose a well-lit, clean and organized location, free from unnecessary distractions.
If you are going to invest in decoration, it is important that it is consistent with your brand's visual identity. It should also help to highlight the products you are presenting.
4. Interact with viewers
One of the advantages of live commerce is the opportunity to interact directly with viewers in real time. Therefore, encourage viewers to ask questions, leave comments and share their opinions during the broadcast.
But don't leave your audience to do the talking! Answer all questions clearly and informatively, showing genuine interest in your audience.
Also, be authentic and transparent in your broadcasts. Show the human side of your brand and build a relationship of trust with your viewers.
5. Highlight the benefits of the products
During the broadcast, focus on highlighting the benefits and features of the products you are presenting.
This means explaining how each product can solve the problems or meet the needs of your viewers, and providing concrete examples whenever possible.
In addition, you can use live demonstrations and customer testimonials to validate the effectiveness of the products.
6. Offer incentives and promotions
To encourage purchases during live commerce, offer exclusive discounts, giveaways or special promotions for viewers.
Here it's worth creating a sense of urgency by highlighting offers with time, to encourage viewers to act quickly to take advantage of them.
7. Promote your broadcast
Before the live broadcast, promote your live shop on all of your social media platforms, website and email list to attract a larger audience.
Use teasers and previews to generate anticipation and interest, and provide clear information about the date, time and platform where the broadcast will take place.
Conclusion
Live commerce is a powerful tool for boosting sales and promoting interaction between companies and consumers online. By offering engaging and interactive shopping experiences, brands can increase customer engagement, boost sales and strengthen their image.
If you want to take advantage of all the benefits of live commerce and sell more online, a professional marketing agency how CMLO&CO can help. With experience in digital marketing strategies, we create effective campaigns that generate tangible results for your business.
Get in touch with our marketing and advertising experts and find out how live commerce can transform your online sales!
