Live streaming in the eCommerce arena hasn’t been with us very long but is already gaining a lot of traction. Many big companies and influencers have started to jump on the bandwagon. With that said, live streaming eCommerce is projected to take off in the near future.
Historically, TV and radio helped many businesses commercialize this brand. And this is exactly what live streaming is doing for a new generation of online sellers and brands. Below are 5 advantages of Live Commerce.It’s Free Advertising
Usually, if you want to get better reach or if you want to increase your conversion rate, you need to run PPC or CPC campaigns. But when you live stream via Lazlive, Shopee Live, or any other marketplace/streaming platform, you get free exposure and in most cases, instant sale activation.
2. Improved Customer Engagement
In eCommerce, there is very little room for customer engagement. ECommerce players with their own websites can only post informative and relevant content while marketplace sellers/brands do not.
Live Commerce gives you the opportunity to connect with customers on a more personal basis. By providing a demo of your product, you can connect to users who have high purchase intent for your item. At the same time, you can also interact with them on a more distinctive level that goes beyond the usual customer questions. Increase in Conversion Rate
When there is increased customer phone number list engagement, viewers will stay on your live stream long enough for them to convert into actual sales.
During live streaming, especially on LazLive or Shopee Live, the live stream organizer has the option to give out vouchers during the live broadcast and then customers can buy goods during the live stream. In this case, the customer experience will be similar to an actual sales event that occurs in a physical retail store or mall.
If you live stream and you have 500 viewers and then you can only turn half of them into revenue, this doesn’t mean you lost 250 sales.
One of the most basic benefits of live streaming is customer engagement. Due to increased engagement, people are becoming B to B Database familiar with your product and most importantly your brand. When people like you, customer loyalty is integrated and developed into your market. Customer retention can provide more value than acquiring new customers in the long term.