Have you heard of Live Shopping? If your answer is yes, great, because you’ll still find valuable information in this post. If not, let us explain: it’s using live video to show, share, promote and sell your products or services.
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You could call it the home shopping channel of the 21st century, a way of buying and selling that fits the times: live sales through your own website or mobile, using video to showcase your products.
This way, any brand with a digital presence can create its own video channel and put a face and voice to the brand, making the way it sells its products in real time more attractive, interactive and engaging.
It’s online sales leaping into the 21st century. For the last 20 years, shopping online boiled down to visiting a website, searching for a product, reviewing the search results and, once you’d decided to buy, adding it to the cart and paying. All flat, made of text and photos. 20 years of that!
Live Shopping, on the other hand, lets shoppers discover the features of all kinds of products through explanations from the seller, the entrepreneur or an expert: clothing, cosmetics, sporting goods, home appliances, a diamond (yes, you read that right, a diamond), a car and any item or service that benefits from a human salesperson. Because, in the end, a good smile sells far more than the best algorithm.
Live Shopping and Video Marketing, a love story
But wait… this is where Video Marketing comes in, which together with Live Shopping makes the perfect match for your eCommerce to succeed.
Before we go on, what is video marketing? Textbooks would define it as a digital marketing tool that uses different video formats to achieve the goals set out in a digital marketing strategy.
So, through videos you can raise awareness of your brand, product or service, promote, position or sell. Videos you can use on your blog, social media or any other channel. Generations Y, Z and millennials are loyal consumers of all kinds of videos, including from their favorite brands. But watch out: baby boomers, that is, the over-50s, used to get hooked on home shopping TV during sleepless nights.
The data: its impact on sales and ROI is real. Tweets with video get 3 times more replies and retweets than those without. Plus, 9 out of 10 users say videos help them make purchase decisions, while 64% of users tend to buy some of the associated products.
So Live Shopping and Video Marketing complement each other perfectly. Another figure: according to HubSpot, 81% of brands already use it. That’s 8 out of 10 companies. That’s exactly why Live Shopping is unstoppable.
Now add these metrics to those. Live Shopping multiplies the conversion rate by up to 25, increases cart value by more than 20% and boosts sales by more than 20%. The result? Success.
But how did this whole Live Shopping thing start?
It emerged in China in 2014, where it’s an undisputed phenomenon. Imagine: even fishermen use it. How? Yes, they come back with their fresh fish, connect to their platform and sell it on the way back to port. Bye-bye, middlemen! But before we get to more compelling arguments, let’s keep going… After China, the United States is following closely, and now Europe and Spain are racing to catch up. The pandemic has certainly had a lot to do with it.
More eye-opening data:
– 82% of the content consumed on the internet in 2022 will be video, “a huge percentage that includes everything (streaming like Netflix)!, growing at a brutal pace.” (Cisco).
– 100% of the most-used social media apps on the planet (TikTok, WeChat…) have video as a native feature.
– 52% of people who buy a product online watch a video before purchasing it. (Google).
What do I need Live Shopping for?
The options and reasons can be countless: launching new products, one-off offers, making your star products even more popular, raising brand awareness… And there are mainly three ways to do it:
1. Live Shopping (live sales), the classic home shopping channel but more sophisticated, modern and engaging, where a brand’s salesperson goes in front of a camera or computer and broadcasts to a group of interested people in order to sell their products, explaining their benefits, how they’re made or where they come from, as well as details about the company or anything else of interest… It’s an interactive way of selling. Because it’s live, you can do things that aren’t possible otherwise, like lowering and raising prices, getting people to play and take part, making offers on the fly…
2. Private personal shopper, a private sales format between buyer and seller, but over video. Just as you’d go to a physical store and be served one-on-one, here you schedule a video call between buyer and seller and, with a tool like this, the seller can show you the products on screen, their pros and cons, options, etc. It’s an engaging, interactive, real-time video experience that can help you complete the purchase.
3. Interactive shoppable video pieces created for social media. The idea is to use them in the Live Shopping area of your website to help drive sales. Imagine a girl showing you the new shirt of the week, just like on Instagram. With this tool, that video can be brought onto the website, with the product, a poll or actions that make it interactive.
With Live Shopping in any of its formats, plus marketing videos, any brand with a website can create its own video channel and reach its communities in a more human, fresh way. So I, as a brand, can create my own content and publish it live or on demand on my website for my users to watch: people browsing the site or those I tell, through my social media, that the content is there.
With Live Shopping, and specifically with Onlive.site, the aim is to help brands offer a live, fully immersive video shopping experience, built on four pillars: eCommerce, entertainment, multimedia capabilities and real-time analytics. Who could ask for more?
