Data analytics by Statista indicate that 85% of internet users in the US stream online videos every month. And these are not just funny cat videos. HubSpot found that consumers are paying attention to interactive video content such as live streaming and shopping.
This article takes a deep dive into why live shopping for a business is one of the most discussed ecommerce trends today, how brands can get on board this trend and tips on live stream strategy.
Why Does Your Brand Need Live Shopping?
Live shopping opens new avenues for brands to provide a supreme online shopping experience. The ongoing COVID-19 pandemic has reduced the offline touchpoints and disrupted the regular consumer purchase journey.
However, live shopping can provide valuable brand solutions to humanize digital interactions once again. During the national lockdown, Changi Airport Group started a live shopping event called ‘iShopathon’. Over multiple weeks, viewers tuned into the live stream where they purchased duty-free products without leaving the live stream.
Maximizing Your Live Streaming Strategies
Choosing Your Platforms
At the start of the pandemic, mainstream social media apps (Facebook, Instagram) were the go-to platforms for businesses who wanted to quickly get onboard live streaming. By now, a year since the pandemic started, these businesses should already realize the limits of these platforms.
An overlooked solution in starting a live streaming strategy is the use of customized live streaming services. These services are able to develop for you your ideal live stream platform and customized features. On top of that, you will have 100% ownership over the data and features, with zero watermarks by the service provider.
One of the few services that offer customized live streaming technology is BeLive Technology. BeLive was also the technology provider for the above iShopathon event.
Having The Right Features That Are Customizable
What makes live shopping stand out from live streaming? Well, it’s the shopping element of course. Businesses that attempt live shopping on Instagram or Facebook may find themselves stuck with a lot of manual labour. From stock-taking to processing orders, the ‘shopping’ element on these platforms are mostly manual.
With custom live streaming services, however, you can have literal shopping buttons and catalogs embedded in the live stream.
Video Quality and Latency
Did you know that Facebook Live has a latency of 15 seconds? Latency is the time it takes for the video frame to appear from the host’s side to the viewer’s side. In most cases, the lower the latency, the better.
Custom live streaming services, such as BeLive Technology, gives you the chance to select your desired latency. You can choose to have ultra-low latency of 1 second or have a higher latency to suit your content.
As for video quality, BeLive Technology offers 1080p resolution, but scalable to the audience’s internet connection. This means that those who are having connection problems can still watch the live stream but in lower resolution.
Live shopping for businesses is a great channel to generate additional revenue. Most importantly, brands and companies can scale up their reach and ultimately position themselves better in the consumer’s minds.
If your business is not on board with live shopping, your competitors may easily outpace you. Don’t wait to adopt a live stream strategy, embrace live shopping and add creative elements into your online strategy for prolonged growth and success.
If your business is ready to make that next move, contact BeLive Technology for a free consultation on premium and customizable live shopping features.