Live Commerce: What You Need to Know

Social media has been utilized extensively with written, image, and video communication over multiple platforms. Retailers and businesses involved with social media are armed with one of the most powerful tools that revolve around trends and influential content.

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Social media trends, like fashion trends, tend to change forms constantly, yet some return. The resurrection of influencer marketing is one example. Influencer marketing involves collaborating with social media ‘’celebrities’’, whether micro or macro (determined by follower count and depth of expertise), to endorse and advertise products or services to their followers.

This method aims to enhance brand awareness, reach new market segments, and drive sales through the influencer’s endorsement. Achieving effective results through influencer marketing requires careful selection of relevant/suitable influencers and strategic planning.

Which industries can benefit most from Live Commerce?

• Fashion and beauty
  The fashion and beauty industry is highly visual and relies heavily on aesthetics, making Live Commerce a natural fit for showcasing products.
• Food and beverage
  Live Commerce has also entered the food and beverage industry, with chefs and food bloggers using live streaming to showcase recipes and cooking techniques.
• Home goods
  Using live streams to demonstrate how products function, how they are assembled, and what they are used for.
• Technology
  Technology brands have also embraced Live Commerce to showcase new products and demonstrate their features to generate buzz around their latest tech.

The impact of Live Commerce with influencer marketing

When merged with influencer marketing, Live Commerce can significantly impact a brand’s marketing efforts. Influencer marketing involves partnering with individuals with a large social media following and can influence the purchasing decisions of their followers. By collaborating with influencers during Live Commerce events, brands can tap into the influencers’ loyal fanbase and leverage their credibility and trust with their followers to drive product sales.

It’s essential to recognize the impact of Live Commerce with influencer marketing on a brand’s overall marketing strategy. By working with influencers to create engaging live commerce events, brands can reach a wider audience, drive sales, and build stronger customer relationships.

It is also crucial to consider the effect Live Commerce has on the way the brands work with influencers, as it requires a different approach than traditional influencer marketing. This includes identifying influencers who are comfortable with live-streaming, providing them with the necessary resources and support, and measuring the success of the campaigns in real-time.

Advantages of Akinon’s Live Commerce

Go live from anywhere
Akinon Live Commerce allows brands to start streaming from anywhere, whether in-store, studio, or smartphone. This flexibility provides convenience and enables brands to create engaging events that resonate with their audience. Streaming from a physical store allows online customers to see products in person and get a more personalized shopping experience.

Streaming from a studio or warehouse provides a controlled environment for detailed demonstrations. Additionally, streaming from a smartphone enables brands to create impromptu Live Commerce events without expensive equipment, saving time and cutting costs.

One-to-many
Interact with a larger audience through one-to-many communication, reach a broader demographic, and build brand awareness. The interactive features through Live Commerce, such as chat rooms and Q&A sessions, create a sense of community and help build relationships with potential customers, providing a more engaging experience than traditional advertising methods.

Real-time insights
Obtaining real-time insights into show performance and audience behavior means that brands can track important metrics such as the number of viewers, engagement rates, and sales figures in real-time, allowing them to make informed, data-driven decisions and adjust their strategy as needed.

By tracking these metrics, brands can create more targeted and effective marketing campaigns in the future. For example, suppose a particular product or feature generates much interest and engagement during a live show. In that case, brands can use this information to develop more focused marketing strategies for that product or feature.

Fully integrated
Fully integrated with your Akinon e-commerce platform, it allows brands to showcase products more interactively and engagingly. This allows for a seamless customer journey where customers can easily transition from browsing to purchasing within the same platform when using Live Commerce. You can leverage customer data (such as history and behavior) for personalized live shows.

The Future of Live Commerce
By leveraging influencer personalities, brands can create more engaging and entertaining live events that resonate with their audience; plus, with the rise of social media and the increasing use of mobile devices, Live Commerce and influencer marketing are becoming more accessible to a broader audience.

As technology evolves, we’ll likely see more innovative and interactive ways of integrating Live Commerce and influencer marketing on multiple platforms and dimensions, such as AR, VR, and AI, which could further enhance its effectiveness.

The future of Live Commerce and influencer marketing is bright, and we’ll continue to see more brands and influencers embracing this powerful marketing strategy in the years to come.