From Live Q&A, concert, consultancy to auction, live streaming has been widely used by businesses as one of the top brand marketing strategies. According to Alibaba, Taobao Live has a conversion rate of 32%, which means 320,000 add-to-cart items for every 1 million views. Also, local statistics show that the average number of views per live videos on the most popular Facebook retail page is as high as 50,000. Live stream shopping has gradually become the new norm for Hong Kong consumers.
You may ask, how do I to attract audience to my live streaming? What is the best time to live streaming? How to increase sales from live streaming? In this article, we will share the key elements of live streaming and the ways to increase sales.
3 key elements of successful live streaming: Interaction, Live Demo and an engaging shopping atmosphere
1st element: Interaction
Shopping is a social activity. Online shopping is convenient, but cannot provide the social experience of shopping with friends and interacting with sales people. In contrast, live streaming offers interaction. Hosts and audiences can interact during live Q&A, and audiences can exchange their comments on products. This social element can help to engage consumers and motivate them to buy.
2nd element: Live Demo
Hosts can show and demonstrate how to use different products during a live stream, for example, a fashion show. Live demonstration can provide more information than product photos or descriptions, and even allow customers to get a feel of the product, and giving them more confidence to purchase.
3rd element: Creating an engaging shopping atmosphere
Good product quality and entertaining livestream are essential, but having a host (KOL, store owner or staff) with an attractive personality and good presentation skills is also important. Many audiences decide to buy just because they like the style or personality of the host.
3 strategies to boost sales from live streaming
1st strategy: Schedule your live stream
Set a regular time for your live stream, like 10 p.m. on Wednesday and Saturday. It should be a regular brand or store activity, instead of a one-off or ad-hoc event, so it’s easier for consumers to plan their attendance and include these events as a part of their routine. Finding the best time for the live stream is also important. According to local statistics (admango), Thursday, 9 p.m. is the most popular time for live streaming. Most of the live streaming videos are played between 8 to 9 p.m. during weekdays.
2nd strategy: Promote and prepare well
Preparation for a live stream is extremely important. You need to consider the customer’s needs, live streaming data and audience comments when determining the theme and incentives of your activity such as lucky draw or give away. These should also be included in your promotional message and advertised through social media and other marketing channels. A reminder 1-2 hours before the live stream event is also helpful to drive attendance.
(image source: Shopline)
3rd strategy: Add Call-to-Action to increase conversion rate
Call-to-Actions like “limited offer”, “livestream exclusive offer” or “offer while stocks last” are good practices for live streaming. They create a sense of scarcity that motivates consumers to purchase based on FOMO (Fear of Missing Out). Technology is another element that affects customer experience. For instance, Shopline has successfully streamlined the shopping experience of customers by allowing them to add products into shopping cart during livestream session.
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