Why Live Streaming Is Important For Ecommerce In 2023
What are the main trends in live streaming for businesses that will take place in 2023?
Several main trends are emerging. First, live streaming will increasingly be embedded into business apps, websites, and social media sites. Second, virtual reality will become a standard feature for live-streaming viewers.
It’s a simple matter of logic to predict that video marketing and live streaming will be increasingly popular methods of shopping in 2023.
Today, almost everyone has a social media account. With the ascent of TikTok, Instagram, Snapchat, and YouTube, people are becoming more accustomed to short videos of their favorite products or services.
Videos and Live Streaming Will Improve Your Ecommerce Business.“61% Growth in Livestream selling app installs globally between January 1, 2021, and September 30, 2021, compared to the same period in 2020.” ~ Shopify
Video marketing and streaming is shaping and evolving eCommerce globally. It will continue to create a smooth customer shopping experience across multiple platforms and provide a more personal touch with each purchase.
Over 50% of consumers will watch a product video before they buy. Brands on Amazon have increased sales by 3.6x with a product video.
Brands are experiencing conversion rates of up to 30% and more through Livestream selling and lower product return rates on their webstores.
Video marketing and Livestream will be increasingly popular methods of shopping in 2023.
Instagram, Facebook, and Pinterest are all running their shopping live-streams with creators as they try to maximize their respective commerce potential.
YouTube is also emerging with a series of upcoming shopping live-streams for the holidays that will enable viewers to interact with influencers and celebrities in real-time while facilitating direct shopping in-app.
Live video make social commerce more sociable
Two tactics to help brands put the “social” back into social commerce are live chat and video.
Video is now the default expression of the internet. From web searches to live streams, video is becoming the primary way the next generation of shoppers makes buying decisions. In fact, we found that 46% of consumers want to watch product videos before they buy.
Eighty-one percent of companies plan to either increase or maintain investment in Livestream selling to drive sales over the next 12 months. And some brands are seeing conversion rates of up to 30% through Livestream selling, along with lower product return rates.
How live streaming works
Live streaming is a way of broadcasting live content to your audience. By allowing users to interact with each other in real-time, you can create an engaging community and encourage participation.
Live streaming has been used successfully by many businesses to connect with their customers and provide valuable information on products or services offered. For example, live streams of product demonstrations have been shown to increase the number of people who contact the company for further information or actually purchase the item being showcased.
Find the right format
Take advantage of special events like Black Friday, Halloween, and Singles’ Day, and host themed live events that allow customers to shop in real-time.
Livestream your product launches with QVC-style product demonstrations or influencer-led product recommendations.
Go behind the scenes with your customers, giving them a peek into how you make your products, how they’re sourced, or how they’re styled.
Consider the time of day, how long you’ll be live for, and which channel will best reach your audience. Whatever the format, have team members on hand to answer questions, moderate the discussion, and guide the conversation.
Here are some examples of free resources:
Facebook Live is a free tool that lets you interact with your customers and build trust, relationships and loyalty. It's also an opportunity to build a community around your brand.
Facebook Live allows you to broadcast live video directly onto your Facebook page. All of your followers get notifications when you go live, meaning they will be more likely to tune in at the right time. This is important because people are more likely to comment on the stream during its duration—it makes them feel like they are part of something special. And if those viewers like what they see, they're going to remember it when they're ready to buy products from you—and chances are good they'll share their experience with others as well!
The best part? Facebook doesn't charge anything for using this feature!
Instagram Live is a great way to connect with your customers. It's free, easy to use and will give you the opportunity to interact with them in real time. There are so many ways that you can use Instagram Live as part of your overall strategy:
Host a Q&A or giveaway
Show behind-the-scenes footage of your business
Show product videos
Going live on YouTube and Google Hangouts
You can use live streaming to build trust and authority with your audience, which will make them more likely to buy from you.
In fact, a recent study found that 92% of consumers tend to trust brand recommendations from other people over any other form of advertising.
When you're live streaming on YouTube or Google Hangouts, customers are able to see this firsthand by interacting with both you and your product in real time while they're watching the video.
This gives them an opportunity to ask questions about any products they may be interested in purchasing or learn more details about what makes those products so great.
TikTok is the fastest-growing social media platform especially for Livestreaming.
Much like Facebook Live and Instagram Live videos, TikTok live has quickly become a popular way of communicating. Brands can build trust, educate their audience, and increase engagement.
Going live on TikTok has the same benefits as going live on any social media channel: it's your chance to connect with your audience in real-time. When you're live on TikTok, viewers can ask questions and engage with you right in the moment. There's a spontaneity and authenticity that comes with broadcasting live.
What you need to Livestream
First, you need some equipment. You can buy cameras or other equipment from Amazon, eBay, or other online stores. You can also rent them out if you only want to use them occasionally.
Or it can be as simple as using your mobile phone with a phone stand.
Next, decide on a place where you want to broadcast from—your office or home, perhaps? Or maybe you'll set up somewhere else entirely! You can create an entire studio if you want; just make sure that your setup allows people watching online to see what's going on clearly, even if it's not high-definition video quality.
Keep it simple in the beginning to get used to creating live streams for your audience.
If you use live streaming in your eCommerce business, you will improve your business.
Live streaming will improve your business. If you use live streaming in your eCommerce business, you will improve your business. You can increase traffic and sales, build trust with customers and increase brand awareness with live streaming that helps promote content on social media platforms like Facebook and Instagram. It's a great way to share information about the available products on your store or website. Live broadcasting also increases the number of subscribers because people love watching videos from other people who have similar interests or problems as them.
Live streaming is here to stay.
It’s an excellent way to build your brand, connect with your customers on a personal level, and increase conversions. Live streaming also gives you the chance to show off what you do best by interacting directly with viewers through this interactive format. The only thing holding back most people from starting a live stream is that they don't know how or where to start.
What is next?
Live streaming has grown into an increasingly viable and relevant social media platform, largely due to the growing popularity of Instagram Stories. Facebook Live and Twitter have also adopted this new practice, offering their distinct benefits and drawbacks.
Augmented reality (AR) and virtual reality (VR) can make the shopping experience even more immersive and enable buyers to see a product from every angle. In the future, consumers may be able to have virtual face-to-face conversations with a show host just as though they were speaking in a store.