Why Are Ecommerce Customers Demanding Live Shopping Video Streams?
3 Minute Read
With continuous growth in ecommerce, consumers are demanding more innovative ways to view, interact and purchase products.
With a huge boost from social media platforms (specifically YouTube), individuals have become accustomed to interacting with video as a way of obtaining and understand information.
Many ecommerce brands are riding the waves of this trend, using Live Video streams as a way to market and sell their catalogue of items.
This post will explore the reasoning as to why consumers are developing a taste for Live Video Shopping streams, and how brands are benefiting from answering these demands.
The main advantage of ecommerce brands live streaming content is the connection gained between brand and consumer.
With the verticals of social media enabling anyone to have a platform to speak on, it is tricky for faceless brands to survive today. Live Video Streaming is a great way to create interaction with your audience. Open dialogue makes your brand seem more trustworthy and reliable.
By allowing your audience to give real-time feedback, you convey the trust you have in your product. Being more translucent with your client-base can lead to a stronger brand reputation, as well as enabling your customers to be heard.
Product Range Exposure
Rather than being limited to photo content, Live Video streaming allows brands to show off a far wider product range.
Word-of-mouth marketing remains the most effective form and people react well to brand transparency. Standing by your product on a live format is great for building quality reputation and can increase credibility.
It seems that the consumer responds well to brands that are willing to open themselves up to public criticism. People seem to like ‘peeking behind the curtain’, it provides brands with a little more raw personality.
Increased Customer Value
As the ecommerce market becomes more saturated, brands are having to increase the quality of their product and service to separate themselves from the average retailer.
It makes sense that Live Video is fulfilling this void. The instantaneous nature of live video enables retailers to answer any queries that individuals have about making a purchase.
In actuality, both the brand and the customer are investing more time into one-another. Building stronger ties is great for establishing a longer lasting brand-relationship. Creating these links is important in a market growing at such a rapid rate; customers will stick around for longer if the value of service exceeds expectations.
Brand Building – Increased Reach
A lot of weight has been given to the idea that Live Video is a far greater form of marketing than traditional video. This is because live streaming typically generates a lot of engagement and wide amount of reach.
Research conducted by AgoraPulse compared engagement ratings between the two forms amongst multiple posts. Overall, from the examples used it was found that…
- Reactions: 240.87% higher for Live Video
- Comments: 1389.9% higher for Live Video
- Shares: 425.27% higher for Live Video
It could be suggested that the ‘one time only’ feel that live video produces creates far more urgency. Viewers belong to the experience, generating far greater interaction and engagement.
As discussed above, urgency is a key indicator in the success of Live Video Shopping for ecommerce.
By their nature, Influencers have the ability to grab the attention of their audience. Urgency is often created by the ‘FOMO’ effect (fear of missing out). An awful lot of shares and engagement derives from friends referring content to other friends – it is ‘in the moment’ and exciting, keeping viewers locked-in.
Live Video also seems to provide Influencers with more credibility than simple image posts. Building a connection creates more transparency; we are invited into the opinions, recommendations and advice from the broadcaster.
With Live Video Streaming set to be the next best way to engage with your audience, brands are looking for the best ways to put out live content.
Most retailers are turning to YouTube or Facebook Live as a way to broadcast their product range. The main issue with this however, is that your customers are kept away from your site for the duration of the stream.
Shopcast is a new Live Shopping tool that allows broadcasters to stream live video directly from your ecommerce website. Currently available on a free plan, you can find out more about Shopcast here.
As for now… don’t be afraid to test out new ways of marketing and listen to your feedback. If you need any more information on Shopcast, do not hesitate to reach out.