What is a live selling platform? SoldLyve is the first live selling platform in the United States that is ideal for just about any business. But what does that term mean?
Basically, when you have a live event, such as with Facebook Live, you have an incredible opportunity to grow your business. Unfortunately, until this year, that hasn’t been possible in America. Not really.
That’s because even if you have a live event with dozens or even hundreds of people watching, engaging with you, how could you sell to them?
You might have been able to show a few products that you offer, but what then? You have to direct them to your product page on your website or Amazon or another place to complete the sale. That drastically reduces sales rates. The rate of cart abandonment is stunningly high for most businesses selling online.
But, what if you were able to sell directly during those live events. What if you could have your customers, the people watching those live presentations, simply comment on which product they wanted and have it added right to their cart?
What if cart fulfillment was as easy as a simple click? Do you think that would be a benefit to help grow your business?
You’d better believe it. That’s exactly what this live selling platform is all about.
Now, you want to create an addictive shopping experience. Live selling is what makes that happen.
Customers Love Live Selling
Even though it’s essentially new to the United States, it’s been a raving success in China. For the past five years, live commerce has been growing by leaps and bounds!
We’re talking huge! What kind of leaps and bounds? How about over 32% from one year to the next in total sales using live selling strategies? Is that huge enough?
And it’s now, finally, here in America thanks to SoldLyve!
The key question is what makes an addictive shopping experience? It has to do with many of the common traits that live sales events offer.
A Sense of Urgency
If you were in a room full of people at a sales event, you were talking about a product and they began to realize this is the next big thing and they absolutely have to have it, but then you said, “But there are only 20 available!” What do you think would happen next?
It would be a shark feeding frenzy! They’d be clambering and climbing over one another just to get it! That’s what creating a sense of urgency does.
Live selling leverages that sense of urgency. Whether it’s old inventory you want to get rid of, new arrivals you want to see fly off the shelves, or creating flash sales to stir up activity, it’s all possible when you go to a live broadcast.
There’s limited time for your audience to see these products and then purchase them. That creates this incredible sense of urgency and they are far more likely to want to type ‘Yes’ along with the product number to have it automatically added to their cart.
Your website’s product page can’t do that.
When people visit your product page or online store, they can browse at their own leisure. There’s no sense of urgency. They can look at the item, read the product description, consider it, and then decide to go away while they think more about it.
But, when you have a live video event and limited quantity or a limited time for a flash sale, that sense of urgency causes people to take action faster.
What happens if somebody wants a product that you just ran out of?
If they typed ‘Yes’ and the product number, but the inventory reached zero first, they might still be able to get it. You can have a timed checkout incentive so that if people don’t complete the purchase within an hour, for example, their cart expires.
When that happens, the next person in line who had commented ‘Yes’ will be notified that it’s being placed in their cart. This helps to reduce cart abandonment issues and stops you from losing out on sales.
When you’ve got a powerful live selling platform like SoldLyve, keep the quantity of your products available limited. This taps into that sense of urgency shoppers love.
People are competitive by nature. They want to be the ones to ‘win’. When you give them that sense of victory because they were one of the few who were able to grab the limited quantity of these products you offered, they’re going to go and complete their cart fulfillment and make the purchase.
They’ll feel amazing!
Why do you think ‘out of stock’ notices drive us crazy? It’s when the item is out of stock that we want it.
When other people are buying the products we see, especially to the point where there is limited supply, it’s this herd mentality. Suddenly we absolutely “must have it.”
When there’s a wait list, when your products have run out during a live event, it’s going to increase the likelihood those people who commented ‘Yes’ are going to fulfill their obligation to complete the purchase. Awesome, huh?
Another incredible benefit to live selling is that personal connection. Because you’re live, people can comment during the event. As long as you pay attention to some of those comments, at least, you can engage with them directly.
You can answer questions, respond to a comments, and let your followers realize they are important to you.
When you’re warm and personable, entertaining, people will gravitate toward you. That’s how you create an addictive shopping experience. By putting the only live selling platform to work for you (SoldLyve) you can watch your sales jump through the roof.
The more engaged your social following is, the more powerful your brand becomes. You will stand out from the crowd. And, most importantly, you will see your sales numbers continue to climb and that’s what every business wants and deserves.