How to Use Live Streaming E-Commerce to Grow Your Business

​As a business owner, you're always looking for new ways to grow your business. You want to reach more customers, make more sales, and ultimately make more money. But how can you do that?

One way that you can grow your business is by using live streaming e-commerce. Live streaming e-commerce is a relatively new concept, but it's one that is quickly gaining popularity.

Live streaming e-commerce came of age during the COVID-19 pandemic. While pandemic restrictions are largely over, live streaming e-commerce is here to stay. It is estimated that live streaming sales in the United States will reach US$55 billion by 2026.

What is live streaming e-commerce?

It's basically using live video to sell products or services. You can do this through platforms like Facebook Live, Instagram Live, YouTube Live, or even Twitch.

Local e-commerce providers like Shopee also regularly host Shopee Live channels to give merchants the chance to promote their products.

If you're interested in using live streaming e-commerce to grow your business, here are some tips on how to get started:

• Choose the right platform. There are a few different platforms that you can use for live streaming e-commerce. You'll need to decide which one is right for you based on your goals and audience.
• Figure out what you're going to sell. This may seem like a no-brainer, but it's important to have a plan before you start live streaming. What products or services do you want to sell? How will you showcase them? What pricing will you use?
• Promote your live stream. Once you have everything set up, it's time to start promoting your live stream. Let your audience know when and where they can watch you. Use social media, email marketing, and any other channels that you have at your disposal.
• Go live and start selling! This is the fun part. Once you go live, interact with your audience and start selling your products or services. Remember to be engaging and entertaining so that people will stick around and buy from you.
• Follow up with your customers. After your live stream is over, don't forget to follow up with your customers. Thank them for their purchase and let them know when they can expect their product or service. This will help create a loyal customer base that will keep coming back for more.

Benefits of live streaming e-commerce for business

​There are many benefits of live streaming e-commerce. It allows businesses to connect with their customers in real-time, which can help build trust and rapport. It can also help businesses increase sales and conversions, as well as reduce costs.

Some of the other advantages of live streaming e-commerce include:

Increased engagement

Live streaming e-commerce can help businesses increase engagement with their customers. This is because customers can ask questions and interact with the business in real-time, which can make the experience more engaging.

Improved customer service

Another benefit of live streaming e-commerce is improved customer service. This is because businesses can address customer concerns and questions in real-time, which can lead to a better customer experience.

Reduced costs

Another advantage of live streaming e-commerce is reduced costs. This is because businesses can avoid the need for physical storefronts, as well as the costs associated with them. Additionally, businesses can also avoid the need for inventory, which can further reduce costs.

Improved sales and conversions

Finally, live streaming e-commerce can also lead to improved sales and conversions. This is because customers can make purchases in real-time, which can lead to impulsive buying. Additionally, live streaming can also help businesses upsell and cross-sell products and services to customers.

Establishing your livestreaming store

The first thing you need to do is decide what products you want to sell. This will be the foundation of your business, so it's important to choose products that you're passionate about and that you know your target market will be interested in. Once you've decided on your products, you need to choose a platform to stream from.

There are a number of different platforms available, so do some research to find the one that's right for you, based on:

• Your target market
• The platform audience
• Ease of doing business
• Scale of livestreaming e-commerce

Once you've chosen your platform, it's time to start setting up your store. You'll need to create attractive images of your products, write compelling descriptions, and come up with an overall branding strategy.

This is where a lot of businesses make their biggest mistake - they treat their livestreaming store like any other online store. But if you want to succeed in this new and exciting world of live streaming e-commerce, you need to approach it with a fresh and unique perspective.

Think about what makes your store special and focus on that. What can you offer that other stores can't? How can you stand out from the crowd? If you can answer these questions, you're on your way to success.

Another important thing to keep in mind is that people who are watching your livestreams are doing so because they want to be entertained. So, in addition to selling your products, you need to make sure your streams are enjoyable to watch. This means being engaging, funny, and interesting - basically, anything that will keep your viewers coming back for more.

Creating a compelling live streaming experience

If you’re thinking of incorporating live streaming into your e-commerce strategy, there are a few things you need to keep in mind in order to create a compelling experience for your viewers.

• First, you need to have a clear purpose for your live stream. What do you want to accomplish? Are you trying to promote a new product? Generate interest in your brand? Drive traffic to your website? Once you know your purpose, you can determine the best format and approach for your live stream.
• Second, you need to make sure your live stream is high quality. This means having a strong internet connection and using high-quality cameras and audio equipment. If your live stream is choppy or fuzzy, viewers will quickly lose interest.
• Third, you need to engage with your viewers. This means interacting with them in the chat box and answering their questions in real-time. You should also make sure to include calls to action throughout your live stream so that viewers know what you want them to do next.
• Fourth, you need to have a plan for what you will do if something goes wrong. This is important because things rarely go according to plan when you’re live streaming. Having a backup plan will help you quickly recover if something does go wrong.
• Fifth, you need to make sure you follow up after your live stream. This means sending viewers to a landing page or website where they can learn more about your product or service. You should also include a call to action on this page so that viewers can take the next step in their customer journey.
• Lastly, including an easy payment option ensures that your audience is actually able to pay you. Converting your audience into sales is the ultimate goal of livestreaming – and it is here that the final hurdle must be crossed with a secure, user-friendly payment gateway.

Convert your audience into sales with Tekkis

Enabling your audience to pay you doesn’t need to be difficult. This is where Tekkis comes in.

With Tekkis t-Pay, you can easily send your audience a payment link, which they can click on and pay using a variety of methods. These include credit and debit card, bank transfer, e-wallet (Touch ‘n Go, GrabPay), and even buy now, pay later (via Atome).

This seamless checkout process means that your viewers can go straight from your livestream to payment in a matter of seconds.

What’s more, Tekkis t-Pay is:

• Easy to set up with no coding or programming knowledge required.
• Free to use with no subscription or hidden fees. You only pay when you make a sale.
• Practical and usable, supporting a range of payment methods including credit card, bank transfer via FPX, as well as e-wallets.
• Secure and reliable with 24/7 customer support.

Step up your livestream experience with Tekkis today by getting in touch with us. Our friendly Customer Experience team is always ready to assist.

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