Live selling, also known as live streaming shopping or social selling, is a relatively new concept in the world of online retail. It involves hosting live video broadcasts where sellers can interact with their audience, showcase their products and answer questions in real-time. Live selling has become increasingly popular in recent years, particularly in Asia, and is now starting to gain traction in the West.
What are tge Benefits of Live Selling ?
- Increased Engagement: One of the primary benefits of live selling is the ability to engage with customers in real-time. Customers can ask questions and receive immediate answers, which can help build trust and confidence in the seller and their products. Live selling also allows sellers to showcase their products in a more interactive way, which can help to generate excitement and interest among potential customers.
- Improved Conversion Rates: Live selling has been shown to improve conversion rates for online stores. By providing customers with a more immersive shopping experience, sellers can increase the likelihood of customers making a purchase. In addition, live selling can help to reduce shopping cart abandonment rates, as customers are more likely to make a purchase when they have a better understanding of the product and its features.
- Cost-Effective Marketing: Live selling can be a cost-effective way for online stores to promote their products and reach a wider audience. By hosting live video broadcasts, sellers can showcase their products to a large audience without the need for expensive advertising campaigns. This can be particularly beneficial for small businesses with limited marketing budgets.
- Increased Brand Awareness: Live selling can help to increase brand awareness and exposure for online stores. By showcasing their products in a more interactive way, sellers can help to build brand recognition and loyalty among their audience. This can also help to attract new customers who may not have been aware of the brand before.
Tactics for Successful Live Selling
- Choose the Right Platform: The first step in successful live selling is to choose the right platform. There are a variety of platforms available, including social media platforms like Facebook and Instagram, as well as dedicated live streaming platforms like LiveCommerce . It is important to choose a platform that aligns with your brand and target audience.
- Plan and Prepare: Successful live selling requires careful planning and preparation. Before going live, it is important to have a clear plan for what you will be showcasing and how you will be engaging with your audience. You should also ensure that you have the right equipment, such as a high-quality camera and microphone, to ensure that your broadcast is of a high standard.
- Build a Connection with Your Audience: Live selling is all about building a connection with your audience. To do this, you should engage with your audience throughout the broadcast, answering questions and responding to comments in real-time. You should also be personable and approachable, and try to create a sense of community among your audience.
- Showcase Your Products in an Engaging Way: The key to successful live selling is to showcase your products in an engaging way. This can be done by demonstrating how the product works, highlighting its key features and benefits, and showing how it can be used in real-life situations. You should also consider offering exclusive discounts or promotions to incentivize viewers to make a purchase.
- Follow Up with Your Audience: After the broadcast is over, it is important to follow up with your audience. This can be done by sending a thank you message to everyone who tuned in, or by offering additional support or resources related to the products you showcased. Following up with your audience can help to build long-term relationships and encourage repeat business.
In Southeast Asia, surveys indicate that one-third of sellers on e-commerce platforms use the live selling model, spending up to six hours weekly conducting live selling sessions. Most of the early adopters of live selling are from low-involvement product categories such as fashion, beauty and personal care, food and beverages, as well as home and living.
Shopee (27 %), Facebook (26%), and TikTok (22 %) are ranked as the top three live selling channels, according to the report.
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