Live Commerce strategies for brands & influencers — Ronald C. Pruett, Jr. // The Boston Associates

Show Notes

• 02:48
  How influencers can become brands and successfully sell products

  It comes down to the four Cs, content, commerce potential, community, and celebrity. Ultimately, you need to build a strong community of loyal followers, differentiate yourself by offering unique content, and understand that turning personal success into mass success can be challenging.
• 05:28
  The path to success in selling products as a personal brand

  To be successful in selling products as a personal brand, it is important to represent a specific category and build a brand within that category. Success requires a combination of content, commerce, and community-building.
• 06:32
  Leveraging live commerce strategies to become a monetizable brand

  Its crucial to differentiate yourself in terms of category, master the art of storytelling, and integrate humanity into anything you do. In addition, you must understand your audience, become a category owner, and be on the right platform to drive sales.
• 07:33
  Unlocking success in live commerce

  The key to successful live commerce lies in combining storytelling and entertainment with the sales process. Without the entertainment factor, it becomes a generic sales process, and this is where influencers in North America have fallen flat in terms of live commerce.
• 08:24
  Influencers pioneering live commerce in the US

  Only a few individuals, primarily in the beauty category on YouTube, have managed to build successful commerce businesses and leverage their followings to drive sales. The number of individuals who have excelled in live selling outside of home shopping networks remains low.
• 09:03
  The rise of brands in live commerce

  While influencers play a significant role, companies and brands are taking control of live commerce streams. Companies like Saks are already leveraging their existing platforms, followings, and transactional audiences to drive sales through live shows and brand streaming networks.
• 10:27
  Challenges for networks and brands in live commerce

  Networks and brands will need to develop unique programming with entertaining storytelling and compelling CTAs for live commerce. These skills will need to be developed internally or via agencies to regain control over their programming and build communities and drive commerce.
• 12:33
  Useful resources to stay up to date with live commerce trends

  Publications like e-marketer, Digiday, and The New York Times provide insights into the industry. Following fashion and beauty verticals and developments in China and Southeast Asia platforms can offer valuable learnings for implementing successful live commerce strategies.