The benefits of live video shopping in China have paved the way for the trend to spread to Europe and America.
China is well ahead in this space. Chinese social commerce is expected to reach $352 billion in 2021 (almost ten times the size of the U.S. market).
And here’s the good news:
YouTube also got in on the action with a seven-day series of livestream shopping that kicked off on Nov. 15, 2021. Fans could score new products, unlock limited-time offers, and get their product questions answered via live Q&A and polls with creators and other viewers.
With YouTube hoping that, in the future, anyone with a smartphone and a product will be able to host a live shopping stream, this is a trend you cannot afford to overlook.
Here’s what you’ll learn:
What Is YouTube Live Video Shopping?
Why YouTube Livestream Shopping Is Relevant to Small Businesses
How YouTube Live Commerce Creates Value for Small Businesses
Final Thoughts: What YouTube Live Video Shopping Means for Small Businesses
What Is YouTube Live Video Shopping?
YouTube live video shopping is a feature where a host (celebrity or influencer) promotes a product via live video.
YouTube intends to make the entire live shopping experience easier, fun, and interactive by integrating it directly into its platform.
The built-in shopping features will help your customers learn about products in the livestream or discover new products you might launch. They’ll then use an onsite checkout or your website if they want to buy the product.
Why YouTube Livestream Shopping Is Relevant to Small Businesses
Livestream shopping on YouTube lets you engage customers more than if they filled a virtual shopping cart on your website.
You’ll be able to offer your audience live product drops and exclusive discounts. You can even create poll fans during shopping livestreams to interact with and get feedback from your customers.
For example, if you own a bakery, you could poll your audience on what cakes they’ll want to see next in the livestream. You could also ask which cakes they love best. As a result, your customers will build deeper relationships with your brand.
The future of livestreaming is bright, so small business owners should adopt YouTube live shopping to grow their businesses.
How YouTube Live Commerce Creates Value for Small Businesses
YouTube live commerce can help your business primarily in two ways:
- Speed up conversions — YouTube live shopping is entertaining and immersive, which keeps viewers glued.
It also narrows down the customer decision-making journey from awareness to purchase. To enhance this, create the FOMO (fear of missing out) factor using time-limited tactics such as one-off coupons.
- Improve brand appeal and uniqueness — When done correctly, YouTube live video shopping increases a brand’s appeal while attracting more web traffic.
YouTube live selling also strengthens existing customer relationships and attracts new customers — especially younger people interested in new shopping experiences.
How To Setup Your Business for YouTube Live Shopping Success
To position your business for YouTube live shopping success:
- Choose a relatable influencer
- Add value beyond selling
- Respond to messages in real-time
1. Choose a Relatable Influencer
At least 26% of the general population buy products based on the recommendations of trusted influencers. That means your show’s host must be able to connect with viewers genuinely.
You can enhance this in a few simple steps:
- Don’t script the host
- Let them choose the products they enjoy using
- Give them enough time to interact with viewers
- Let them invite their audience to watch the livestream
The mood set by livestream hosts can significantly impact how consumers view your brand. So be selective and set high standards when picking an influencer.
2. Add Value Beyond Selling
Add value by sharing details about why you created a specific product or tell your viewers your brand’s story.
You can communicate this info on your website. But hearing and seeing it directly from a person adds another twist that creates a deeper connection with your brand.
3. Respond to Messages in Real-Time
While your host addresses pressing comments live, ensure you have a staff who can respond to messages in real-time.
Repeat customers aren’t a “sure thing” if you aren’t attentive and consistent with your customer care. That rings true on live video shopping as well.
Shoppers are significantly more likely to continue with your business long-term when their service expectations are met. So ensure the assigned staff responds to your audience, prioritizing their messages based on urgency.
Final Thoughts: What YouTube Live Video Shopping Means for Small Businesses
YouTube’s livestream shopping events will provide more details into what viewers want to see in these streams and which features creators find most useful.
It will be a significant development, which could open up tremendous opportunities in the future for small businesses.
As e-commerce evolves, brands that capitalize on YouTube live video shopping will be well-positioned to prosper in 2022 and beyond.
What do you think about YouTube livestream shopping? Let us know in the comments section below or by tweeting @Bluehost.
