Live Stream

How Can Live Streaming Benefit Your Online Business?

By on May 30th, 2020

E-commerce is dead. Forget about it. It’s in the past. Now, you’ve got to look forward. You’ve got to embrace the future. The future is live commerce. A big part of building your new business for the future is to embrace live streaming events.

The entire notion of selling online and surviving for more than a few months or a couple of years is to constantly evolve, grow, and change. It is an industry that is bent on destruction.

But that’s not always a bad thing. In fact, some of that destruction has led to the greatest economic opportunities for the small business owner wherever they operate.

Live Streaming Can Drive Online Sales

You might not be comfortable in front of the camera. That’s fine. You don’t have to be. In fact, even if you’re the only employee, the owner of your small retail operation, you don’t have to actually be in front of the camera to promote live streaming.

Hey, it certainly helps, but it’s not necessary. The key here is to realize that live streaming will benefit your online business when you do it the right way.

What’s the right way?

Good question! This is something we have to dig into now. Keep in mind that more and more people — consumers— are embracing online sales. They love going online to find great deals.

But more than just saving money, they’re investing in those businesses and brands that actually care about them. Your live stream events can show your target audience, your customers, that you care about what they want.

They’re already spending a lot of time online. In fact, the average person is spending almost 7 hours online every single day. Think about that! The average workday is eight hours. Every person is spending almost an entire workday online!

All that time online means people are shopping, too. They love the idea of being able to shop with ease. Gone are the days when you have to get in the car, drive 30 minutes one way to the mall, and walk around for hours aimlessly trying to find the few items you want.

Gone, too, are the days when you have to go to 10 different stores just to get your list of items. We all love the convenience of online shopping. But we also want something that tends to be missing with traditional, old, outdated e-commerce: knowledgeable salespeople.

That Personal Touch

Just because people are spending more time online and enjoy the process of shopping on the Internet doesn’t mean they don’t want personal interaction. They absolutely do.

It’s just that they want to be able to find the items they need more quickly, but they may also have questions. They want to talk to somebody knowledgeable, if needed.

And we’re not talking about those AI bots, the ones that pop up in a chat window on the lower right portion of the screen and say ‘Can I help you?’ As though they really care. We’re talking about real, live people they can interact with.

That’s what live streaming can offer you and your audience. The opportunity for interaction. The personal touch.

Did you know that 61% of consumers in the United States would trade in some of their data if they were able to gain more personalization from the brands they frequent? In short, that means they are craving attention.

Your business can give them that. But how?

Through live streaming. That’s why any business that values its future and wants to increase online sales needs to seriously consider becoming invested in live streaming technology.

Live streaming technology is right there, at your fingertips, ready to be taken advantage of. YouTube has a live streaming platform. So does Facebook. And Instagram. Using Facebook Live, you can connect with your audience through the most popular social media platform in the world.

They can see the products you’re offering, learn valuable information and tips to get the most out of those products and services, and even ask questions. Those comment sections on the live streaming platforms provide a direct and immediate potential for interaction.

It’s as though your audience feels they’re important. And they should be. Live streaming makes shopping for your customers easier.

When they get to see you or somebody on your team who has a great deal of knowledge about these particular products or services, they are going to learn. They’re going to gain insight, they’re going to be convinced that they really do need these products, and they are going to be encouraged to buy … right away.

Integrating with a Powerful System

Keep in mind, though, that live streaming alone isn’t the end of the game. It’s just the beginning. You have to close the sale, don’t you?

When you have this personalized touch through live streaming, then what? When you have the right live commerce platform integrated into your live stream, your consumers, your fans can buy right away without having to jump through hoops.

That’s one reason why old e-commerce is dead. A person has to be redirected away from a live stream event to go to a product page, sift through the various products, find the one they were just watching a video about or seeing your sales rep talking about on that live event, and then add it to their cart. From there, they have to go to the cart, enter their purchase information, and so on.

With so many extra unnecessary steps, it far-too-often leads to lost sales. With live commerce, your viewers can purchase the items you’re talking about during your live events right there, on the spot.

It gives them a sense of satisfaction, too, when there’s a limited supply of stock on hand. It’s like a game. They want to be the ones to get it first before you run out.

So, hopefully you can finally see how live streaming can help your online business. Get invested, get practicing with it, and integrate it with the best live commerce platform there is: SoldLyve!