Using 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.
About the speaker

Frost Li

Social Chat

 - Social Chat

Frost is the Founder and CEO of Social Chat

Show Notes

  • 02:45
    How people are using live streaming to share products
    eCommerce 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.
  • 03:54
    Why live streaming is effective at selling products
    People feel like they need to make a purchase decision during these live shows. This leads to much higher conversion rates for brands.
  • 05:02
    Using live streaming to capitalize on consumer impulsivity
    Rather 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.
  • 06:38
    Consumer experiences during eCommerce live streaming
    During 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.
  • 08:32
    Setting up a successful live stream for eCommerce
    Live 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

  • "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

  • "Last year, I believe Nike spent more than three billion alone on live shopping influencer content." -Frost Li, CEO, Social Chat

  • "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

  • "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

  • "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

About the speaker

Frost Li

Social Chat

 - Social Chat

Frost is the Founder and CEO of Social Chat

Up Next: