Using Live Streaming to Drive Revenue — Frost Li // Social Chat
- Part 1 Using Live Streaming to Drive Revenue — Frost Li // Social Chat
- Part 2What is Interactive marketing? — Frost Li // Social Chat
Show Notes
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02:45How people are using live streaming to share productseCommerce marketers are increasingly using live shopping content to showcase the use of their products. Nike has all their brand ambassadors doing all live shows almost every week.
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03:54Why live streaming is effective at selling productsPeople feel like they need to make a purchase decision during these live shows. This leads to much higher conversion rates for brands.
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05:02Using live streaming to capitalize on consumer impulsivityRather than pressuring consumers to purchase, live streaming creates a sense of urgency. Consumers have immediate access to reviews from other shoppers and their product experiences which makes purchase decisions easier.
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06:38Consumer experiences during eCommerce live streamingDuring product demos, all products mentioned will be available onscreen to easily be added to the cart. The same goes for any product mentioned by others during the stream helping people remain engaged with the content.
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08:32Setting up a successful live stream for eCommerceLive streaming requires a good camera and a good microphone. Live streams dont need to be edited, cost less than doing product videos in a studio, and enable brands to genuinely interact with their customers leading to more conversions.
Quotes
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"More than 30% of the advertisement or marketing by e-commerce nowadays are video driven rather than image-driven, and live shopping content is increasing month over month." -Frost Li, CEO, Social Chat
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"Last year, I believe Nike spent more than three billion alone on live shopping influencer content." -Frost Li, CEO, Social Chat
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"When you watch TV, it's only the brand. When you do social shopping, you're also seeing questions from other shoppers, their use experiences, and thoughts. So, you can easily make a decision right there." -Frost Li, CEO, Social Chat
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"Different brand partners told me their cost went down after they started doing live streaming. Especially in comparison to shooting highly edited and beautiful videos in studios which is very expensive." -Frost Li, CEO, Social Chat
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"For live streaming, you really just need a good camera, and a good microphone. You can even just sit in your living room and genuinely talk with your customers because it's so interactive." -Frost Li, CEO, Social Chat
- Part 1 Using Live Streaming to Drive Revenue — Frost Li // Social Chat
- Part 2What is Interactive marketing? — Frost Li // Social Chat
Up Next:
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Part 1Using Live Streaming to Drive Revenue — Frost Li // Social Chat
Frost Li, Founder and CEO of Social Chat, discusses ways to increase sales with live streaming. Marketing by eCommerce nowadays is more video-driven than it is image-driven, and this has led to an increase in live shopping content. Even a giant like Nike has all their brand ambassadors doing live shows on their products almost every week. Today, Frost talks about how to use live streaming to drive revenue.
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Part 2What is Interactive marketing? — Frost Li // Social Chat
Frost Li, Founder and CEO of Social Chat, discusses ways to increase sales with live streaming. When customers are shopping in a physical store, the experience is very interactive and allows for customer feedback in real time. Many eCommerce brands have started employing interactive marketing tactics to combine elements of virtual shopping with in-store experiences to allow customers to engage with the brand in several ways. Today, Frost talks about what interactive marketing is.
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