September 7, 2021
6 Critical Things to Consider Before You Invest in Live Video Shopping
Are you thinking of investing in live video shopping? Before making any significant decisions, there are some crucial questions you should ask yourself. In today’s market, several different suppliers offer package solutions with other business models and functionalities. For the investment to be as successful as possible, you need to determine what will work best for you and your company. In this blog post, we address six critical things to consider before you choose the right supplier.
1) Connectivity with your e-commerce platform
Is it essential for you to have connectivity with your e-commerce platform? Or are you content with URLs that simply link to the product you want to sell? It can be a good idea to ensure that your provider of live video shopping has an integration with your e-commerce system or Google Merchant if you use it. There is no right or wrong answer here – what’s important is that you find a solution that matches your needs.
2) Business model and prices
Before investing in live video shopping, you should be careful to choose the appropriate business model. For example, there can be a considerable difference depending on whether you choose a fixed or flexible pricing model. The flexible part is often connected to different types of activity, such as viewing time, conversions, or clicks. Choose the price level that feels comfortable for you and the company, and it will be easier to predict whether your investment is financially successful or not.
3) Functionality and branding
What kind of functionality and branding do you need for your investment in live video shopping? Once you know the answer to this question, make sure that your provider supports all the functionality you need. For example, if you want to stream using professional equipment, it is not sure that all suppliers will support it. When it comes to branding, you must also make sure that the external media player is able to represent your company in the way that you want.
About 60% of all purchases made through live video shopping are made after the actual streaming. Therefore, you should plan to create an appealing and tidy library on your website so that your customers can easily find your live broadcasts afterward. We also recommend that your library has clear descriptions and stylish pictures.
Most business owners and entrepreneurs today have realized the importance of data and following up on all aspects of customer behavior. To be able to do this effectively, you need to choose a provider that can give you the data you want. You can also ask the supplier about their integration possibilities with, for example, Google Analytics.
6) Onboarding and internal implementation
To get started with your venture, you must receive the information and support you need. However, some of us need a lot of support in the beginning, while others need very little. Regardless of which, you should choose a supplier that suits you and provides you with training and support during the onboarding process and in the actual implementation phase.
Here at Streamify, there’s no secret that we would like you to choose us as your supplier. With that said, we may not be the right partner for you right now. The last thing we want is for you to have an unsuccessful experience with us. We want to help our customers grow and see them have truly successful investments in live video shopping.
Rickard Lönn Head of Sales Streamify
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