Are you thinking about implementing Livestream shopping in your business? That’s awesome, and we hope this blog post written by our Head of sales, Rickard Lönn, will help you navigate the landscape.
What problem are you trying to solve, or what are you trying to accomplish? The answer to these questions is the foundation on which you will build your livestream shopping journey. Take some time to discuss with your team so that you and the company’s purpose and strategy are clear.
Who will be in charge of the company’s livestream shopping? We have customers with a team of two people and bigger groups with cross purposes and stakeholders. It doesn’t matter how few or many you are engaged in the process, but in our experience, everything gets smoother and more efficient when you have one person in charge. Your live shopping should be integrated within your company and have a clear internal structure regarding, for example, marketing, e-commerce, tech and sales.
“What problems are you trying to solve, or what are you trying to accomplish?”
Do you know the different possibilities? Regarding Live shopping, you can go a few routes: social media platforms, your e-commerce site, marketplaces, or a combination. It’s a big difference between a normal Livestream & a Live Shopping experience. Maybe going Live on Instagram or TikTok is good enough? You may want your product catalog and checkout integrated along with your branding & all the attractive features on your e-commerce site. Or is Amazon the place to be for you?
Since you know your business best, I advise exploring the opportunities and seeing the different functionality and customer experiences/journeys for yourself. Where do you want your customers to spend their time? This question will point you in the right direction. Hosting live shopping events on your website creates possibilities not available anywhere else. Your website is where you will be fully in charge of the customer experience.
An existing big following in social media is not a threat; it’s a vast advantage to reach your audience and drive relevant traffic. Live shopping and social media are not competing. It’s a match made in heaven.
What are your expectations & goals for your live shopping? Please take out a piece of paper and write it down. Our team’s experience is that this can vary. One customer was delighted with 80 live viewers on their first livestream; another was disappointed with 5,000. Here, you have to look at existing channels to have relevant expectations. Don’t stare yourself blind at the first Livestream because the value will only get more significant over time.
It’s essential to write goals down so you know what KPIs to measure so that you can evaluate your live shopping events, both live & on-demand. For example, conversion rates, engagement, average viewing time, viewers, on-site session time, or decreased returns. You decide what KPIs are important to you. Then, you measure precisely that.
“Your website is where you will be fully in charge of the customer experience”
Those who have achieved the best results have decided to believe in the format, have a clear vision, and see long-term value. They are consistent with their livestreams and dare to experiment with different concepts.
Nothing beats going live and experiencing the process in reality. Understandably going live can have some thresholds, but the second time will be much easier when you’ve done it once before. From day one, you will receive instant customer feedback and performance data. Listen to your customers and review the data. Learn, rinse and repeat.
I wish you all the best in further exploring livestream shopping, and I hope you found the article helpful.
Are you continuously curious? Then you can check out our latest webinar, where we discuss Livestream Shopping in-depth, or contact me personally.
