What is Live Shopping? First introduced to the modern customer as a marriage between Home Shopping and Social Media, Live Shopping events have seen a 99% YOY growth in the United States, with brands like Estee Lauder, L’Oreal and Tommy Hilfiger taking the trend by storm. A new sales channel with average sales conversion rates of up to 39%, Live Shopping is a technology that helps brands to grow their communities, while also selling more. Through authentic community-focused moments in a live stream, brands are seeing new customer acquisition statistics of up to 50% per event, and are finding a new way to maximize social media presence on platforms like Facebook while maintaining awareness among loyal viewers.
So, what next? Due to popular demand, our team has banded together to outline best practices for Live Shopping product curation, traffic-boosting strategies and, of course, sales-focused event optimization to implement as early as tomorrow. To sum up the Live Shopping phenomenon around the world, we look at the data and summarized three factors that are the secret weapons to trigger in-event purchases.
Reason #1: Your Host
Though this tip may seem obvious, it is crucial we dig into what Most often, viewer traffic will join the event for your host, and this truth will only magnify with time. It is important to recall that the type of host to drives the most sales are usually KOS (Key Opinion Seller), and if your objective is sales-related, installing a lively, expert KOS is key. Over time, you will build a community of ready-to-shop followers, and your brand will become synonymous with the trust your host imparts.
VIYA and Lipstick King are two of the most famous KOS examples bearing strong ready-to-buy followings.
Reason #2: The Education
Contrary to widespread belief, simpler is not always better when it comes to live streaming. It’s no news that education is playing a gradually and undeniably vital role in the success of all brands online, but in the world of Live Shopping, teachable moments might as well be renamed as goldmines. We can see among early adopters in Live Shopping, that brands are nurturing their own knowledge-first expert hosts, placing education at the centre of the experiences.
How can you translate this tip to real-life results? Consider sharing key studies, clinical trials or behind-the-scenes moments of how your product is made. Live Shopping is primed to help you stand out, after all. It is important you use that opportunity to help your product shine.
Reason #3: The Deals
In short, give people a reason to tune into your Live Shopping events. From limited edition bundles, exclusive discounts, first access to sales or exclusive insider swag with purchase, do not underestimate the power of a good buy.
Ready to sell more in your next Live Shopping event? Click “Get started” at the top of this page to kick things off with a Livescale Live Shopping expert.