Small and mid-sized ecommerce companies can use reside streaming to promote like QVC and HSN, introducing and demonstrating merchandise in addition to offering useful content material. And deploying reside streaming now can benefit from shoppers’ new, pandemic-driven shopping for habits.
First, just a little background.
QVC and HSN (previously Home Shopping Network) are multichannel retailers with a historical past of broadcasting product pitches. HSN and QVC began sharing merchandise on American tv in, respectively, 1982 and 1986. Both now promote by way of a number of channels, corresponding to social media, the businesses’ web sites (by way of reside streaming), and tv.
Ecommerce retailers, regardless of how small, can undertake related techniques, providing a mix of QVC-or-HSN-like salesmanship and helpful content material advertising.
The know-how behind reside streaming isn’t new. But now, as a result of Covid-19 has modified retail, retailers might garner extra profit from reside streaming than was beforehand attainable.
“Covid has escalated everything,” mentioned Daniel Mayer, CEO of Be.Live, an organization that facilitates reside streaming. “In my view, it escalated things in years. We jumped three years ahead, five years ahead…and we are watching huge trends that were here. We need to mention that it’s not like a trend that the world is not familiar with. If we consider China, we would see that this trend [using live streaming for ecommerce] has been there for like 10 years — and if we are watching Asia, they are selling everything in live shopping.”
“When it comes to the U.S.,” Mayer continued,” it’s just the start of the pattern.”
The concept is that ultimately, many retailers within the United States would have discovered that they might leverage their followings on Facebook, for instance, to share merchandise by way of reside streaming.
New Shopping Habits
Mayer’s level is that this yr’s coronavirus pandemic sped up the pattern as many on-line and brick-and-mortar sellers sought to seek out new methods to attach with clients.
This is sensible as a result of buying, in some ways, is a behavior. It’s one of many factors that writer Charles Duhigg makes in his e-book, “The Power of Habit: Why We Do What We Do in Life and Business.”
Duhigg notes that life occasions affect our buying conduct. Pregnancy, “changing residence, getting married or divorced, losing or changing jobs…are life changes that make consumers more ‘vulnerable to intervention by marketers.’”
The present pandemic is simply such a life-changing occasion. So it is sensible that customers are creating new shopping for habits and that entrepreneurs ought to work to assist set up these habits in a approach that’s favorable for his or her shops.
“Live shopping is providing a new experience, and people feel that it is somehow like the offline experience,” Mayer mentioned. “It is providing them the confidence [to make purchases]. It is providing them with lots of trust. [It gives shoppers] the ability to ask questions, the ability to speak with the seller, the ability to watch the community providing their reviews of the specific product on the live show.”
In the coronavirus context, reside buying might assist fill a void and could possibly be habit-forming.
What’s extra, the know-how to provide an ecommerce reside stream isn’t costly or difficult.
Be.Live, Mayer’s firm, is one instance. But different suppliers embrace Ecamm, Restream, and StreamYard, in addition to native live-streaming capabilities on social media platforms.
Connecting with Consumers
“Live streaming is about authentic connections and can be a powerful way for ecommerce businesses to get their message out to consumers and potential consumers,” mentioned Katie Fawkes, a digital advertising supervisor with Ecamm.
“Depending on the enterprise’s branding, it may possibly leverage reside streaming for promoting merchandise — a reside stream flash sale, for instance — sharing behind-the-scenes content material, [such as] how a product is made, what the vibe is within the workplace, or amongst totally different staff members, and even thought management. A shoe ecommerce enterprise, for instance, might do a weekly reside present sharing about their moral sourcing strategies and the way that’s having an affect on the earth.
“Consumers buy from businesses they know, like, and trust,” Fawkes continued. “An ecommerce enterprise ought to look to their target market and see what sort of content material would matter most to that group…this could possibly be quite a lot of issues from live-streamed gross sales, to interviews with business consultants, to behind-the-scenes, and extra. Remember, though each reside stream broadcast is in itself impactful, it can be repurposed and utilized in all features of bigger advertising efforts.
“The most important part is for ecommerce businesses to be thinking past their products and focusing on the ‘why’ and the story that matters to their consumers.”