Marketing efforts today are being designed to trigger a customer to seek information and then purchase the product. So no matter who and what business you do, the content you provide to your user does not contain any entertainment value, people will not consume the content.
Most people are skipping pre-roll ads or changing channels during commercial advertisements, meaning that only a small percentage of the potential audience is actually viewing your content.
Physical retailers and online brands can increase their viewership and create an even bigger opportunity to convert people from viewers into buyers by combining the right types of entertainment to pull your target audience.
Who is using interactive video commerce? Is that truly working for them?
Interactive video streaming has the ability to influence an online shoppers shopping decision. And below are the company’s who nailed it.
$ Bringing live streaming with online shopping has skyrocketed a company’s conversion by 21 times and drive 130X revenue in a single video commerce session.
Another reason to invest in a video commerce business is that this business model is bringing the forsaken human interaction back to eCommerce.
$ AliExpress, an Alibaba subsidiary, launched a video commerce service called ‘AliExpress LIVE’, which saw as many as 320,000 goods being purchased per one million views during their single live streaming session.
$ Taobao confessed their live broadcasting platform realized more than a 50% increase in their conversion rate.
$ A top seller using Taobao has over 2M followers, making 25 million RMB ($4 million) per year. Where she sold 70 million GMV during a 5-hour live broadcast, setting a record.
$ One walnut snack was sold in over 200k orders, on which 60k was sold out in one second after the host introduced the product. The broadcaster had to contact the manufacturer to replenish their inventory twice, until all they had were sold out, in just 5 minutes.
But wait, I read something on blogs that vCommerce has its own challenges that said I shouldn’t do this?
Though Taobao clone script seems to be enticing as with any new technology, there will always be positives and negatives that a company must consider. Video commerce is a service that requires a lot of planning and preparation, but with the right game plan, product, and traffic, interactive video commerce is a must strategy to explore in 2019.
The unpredictability in live eCommerce platform you choose to stream, it may be anything from the streaming server downtime the platform runs to the internet connection you have.