X, a financial consultant living in New Delhi, is a frequent online shopper, marking out sales days and doing impulse shopping from time to time. As she shops across platforms, she often faces issues on how the clothes fit. While product images are available, they often don’t show how the clothes will drape, disappointing her when she tries them on. It is a key reason why millions of shoppers like X prefer to shop offline for apparel and other products.
Across categories, availability of imagery is all around, but customer trust on what-I-see-is-what-I-get is always an issue. And even the most extensive FAQ section can’t always convince the customer her needs will be met. To solve for this, live commerce using video streaming can offer a great new pathway to acquire customers. From streaming to scheduled video sales calls with customers, videos embedded in your sales journey are what you need next.
With Live commerce, you can sell products and services during a live stream or offer assistance to your audience via a chat function or reaction buttons. Consumers receive an interactive experience, allowing them to ask questions and purchase products while the video streams live.
Can live video enhance eCommerce for users?
In short, a resounding yes. Live commerce removes common impediments to an online shopping experience. Allowing retailers to develop deeper connections with their customers, it benefits your bottom line and customer retention.
Here are a few ways in which it helps:
- Truly personalized customer journey: One-to-one live video replicates in-store experiences while being assisted by data-driven actions. Your customer will feel valued, cared for, and one-of-a-kind. Irritated by irrelevant marketing messages and spam when they shop online, customers can become very receptive to retailers who refocus their efforts on what is most important – the customer’s needs!
- Provides a diversified retail experience: Live video shopping is essential in providing a blended retail experience. With the increase in digital spending and the beginning of a do-anything-from-anywhere culture, retailers who provide a blended experience will achieve a right to win. A video call can begin a customer’s journey online, providing valuable information to your retail team before assisting them in-store and closing the deal. All of this can be handled by scheduling virtual appointments to oversee the entire customer journey.
- Product videos increase trust: Product videos, according to consumers, increase their trust in a purchase. The good news is that you can tailor product videos to the requirements of your various marketing campaigns. These videos contain:-
- Tutorials — Demonstrate your product’s real-world applications. Depending on the tutorial, they can be easily converted into DIY videos for social media sharing.
- Comparison videos: Customers can see how one product compares to another using comparison. Regardless of your (unavoidable) bias toward your products, comparison videos work best when they show significant differences between your offerings and those of your competitors.
- Explainers — Your explainer videos should spend a significant amount of time detailing your product’s features and how it differs from the competition. Their goal is to assist those who want to know everything before making a purchase.
- Increased customer safety: Live video shopping provides a secure service that can alleviate the concerns that physical shopping entails. Vulnerable communities, such as those with mobility issues, and those living in remote locations, can access a wider variety of merchandise, from the safety of their own homes.
- Enhanced understanding of what customers desire: Hearing from customers during a live stream provides instant feedback on a product. Businesses can easily obtain vital information that they would otherwise have to spend time figuring out through reviews, questionnaires, or customer support if they don’t like the material or design. Knowing what customers want will assist businesses in understanding customer demand and allowing them to quickly adapt to better suit the market.
- Get instant data: A fantastic feature of live commerce is that the salesperson who is present with the customer can obtain instant data on the customer’s emotional stage and, as a result, modify the product or their manner based on the emotions of their customer.
How is the Industry responding?
Companies are increasingly focusing on incorporating video into their digital toolbox, which means that new job titles are becoming available. There are numerous companies that have job roles devoted solely to digital commerce, live streaming, live commerce, and virtual selling with video as the anchor. Some of the top companies using Live streaming include:
- Roposo launched live commerce to increase the platform’s focus on live video and commerce. It will bring Roposo content to the Glance lock screen platform. Roposo platform users can now discover products recommended by creators on live streams and shop hundreds of creator-led pop up stores.
- Samsung’s live shopping product: Samsung collaborated with the Bambuser agency to plan a successful event in 2022: a live shopping campaign for the launch of its new foldable smartphone, the Galaxy Z Fold 2 5G. The goal was to captivate, inspire, and engage its Gen Z and Millennial target audiences. “Samsung Live,” an interactive program, featured brand product experts who virtually interacted with tele-spectators. The live event drew a large number of users in real-time, and a replay attracted 4x more viewers who watched and purchased. In the end, the company was pleased to exceed its conversion rate expectations by +127%.
- Flipkart has partnered with Moj, a homegrown short video platform. Moj claims to have over 160 million monthly active users. Enabling new commerce-led revenue streams incentivizes content creators within the Moj ecosystem.
- Myntra: Myntra is also active in the live commerce space. There is an M-Live section on Myntra’s app. Potential customers can watch live videos from various influencers in a variety of product categories.
- Amazon: Amazon has launched Livestream shopping similar to QVC in India. Amazon has launched Amazon Live, which will feature over 150 creators hosting live streams and promoting products. The idea is that influencers with a large following will direct their fans to the shopping app and persuade them to buy products. They are paid a commission every time they make a sale.
How to start live video streaming for selling online?
You may already be selling through popular online platforms, and have your own e-stores. To integrate live video streaming, you need a partner who can help embed video calling and streaming into your core product or app quickly.
Technology: Both video api and SDK based solutions, and low code/no code video should be on your planned list, as creating a video experience from scratch can be expensive and a long drawn process.
Cost: Ideally, you want to go for a SaaS based model, where you are billed on a usage based model. This will ensure your cost of live video streaming increases in line with usage.
Time to market: Using our no code visual builder, you can embed video streaming into your existing app in mere hours.
Talent: if you purchase a no code platform, all you need to focus on is sales staff, with no requirement to manage technology.
Live shopping is at the top of the list of 2022 trends that will revolutionize the customer experience. This new type of social shopping can both seduce and convert because of streaming video. These more direct, interactive, and immersive sales methods meet the new demands of modern consumers. The future of shopping has been predicted: live commerce has arrived to transform customer experiences after e-commerce and m-commerce! It’s time for you to take action, start building your live commerce app today. Get in touch with EnableX.
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