If you’re working with live shopping, or thinking about doing so, you should care about TSB. It’s different from both ‘average viewing time’ and ‘time per page view’, in that it measures what actually happened during your live shopping event. And while four minutes is considered a fine goal for time spent on your website, it’s a horrific number if we’re talking live shopping.
All B2C marketers and Social Media Managers of today know to measure reach, views, likes and comments. But what about KPIs for live shopping? Time Spent with Brand is a KPI developed by Streamify, that’s been greatly appreciated by our clients who want to improve the results of their efforts. The purpose of creating it was the benefit of an easily measured KPI that could be followed over time.
Simply put, TSB measures the time your audience spent with your brand. Let’s assume you’ve hosted a live shopping event that lasted 30 minutes, where the average viewing time is 20 minutes. However, there’s been 5 000 people viewing your event. That’s a whopping 100 000 minutes spent with your brand. See what we mean when we say that four minutes spent on page would be horrific?
You’ve probably heard about ‘time per page view’ before. Or maybe ‘average time on site’ or ‘session time’. While these are similar, TSB is different, and we launched this new KPI since it’s deceptive to compare ‘time spent on site’ to the concept of live shopping. Because during a live shopping event, a lot happens regarding engagement, interactions, clicks, chatting and purchases.
Scrolling down a static e-commerce page for 15 minutes and participating in a live shopping event for the same amount of time are two very different things. Because during live shopping, you might have asked the presenter seven questions, discovered new products that suit your needs, shared your email address, or felt like a part of a community.
In a way, the TSB KPI was created by our Sales Department in an effort to describe “the truth” – what actually happened during your live shopping. Because while working with Streamify’s performance reports, they suddenly realized that existing KPIs, such as average view duration and reach, weren’t fully depicting the reality of live shopping. That’s why we decided to call it Time Spent with Brand, since the viewer spend their time on the brand’s website and often with the company’s employees or ambassadors/influencers.
Since this is a very recent KPI, developed in 2023, it’s hard to tell the exact economic value of it (just like with many other KPIs). But if you work in marketing in general, and with the video format in particular, you can just play with this idea. What format is more valuable in your opinion: a viewer watching five minutes of static video or five minutes of live shopping, where someone gets educated, dares to ask questions and discovers new products?
If you have Streamify’s Professional license, you’ll receive a monthly Performance Report, where you’ll see exactly how many minutes were spent with your brand, during the live events and afterwards. You’ll also get – and own – the data on everything from the chat, interactions and ATC (add to cart).
It’s essential to differentiate between TSB for live shopping live and on-demand since the ability to interact during the actual live event is so much greater. However, spending time with your brand through a certain live shopping event can happen a long time after the cameras are shut off. If you do your strategy right, your live shopping content can live for months and years. Separating the results also helps our clients make the most precise distinctions regarding the data.
To increase TSB, you primarily have to increase the number of viewers. This can be done in two, quite easy, steps:
1. Market your live shopping
And don’t just market it before and during your event. Make sure you recycle the large amounts of video content generated from the live shopping and keep driving traffic towards it. You also need to make sure that the potential viewers know the exact value of watching.
2. Make the event easy to find on your site
If you only make your live shopping events (past and upcoming) available in the website footer or hidden within a menu, you can’t expect a high TSB. Instead, make it easy to find it by putting a countdown on your homepage 10 hours before the event and up to 24 hours afterwards. Then, create an eye-appealing content library where potential customers can browse and educate themselves.