The Benefits and Drawbacks Of Live Streaming Marketing For e-Commerce
The most recent development in live video technology is the game-changer live stream marketing services. These days, many companies are using this strategy for digital marketing. With live-stream videos, brands can create engaging content for large audiences in real-time.
Between 2020 and 2021, the live-streaming business doubled, growing to $11 billion. Additionally, the US Livestream market is expected to reach a value of $35 billion by 2024, accounting for 3.3% of all US e-commerce.
More customers are drawn to live-streaming marketing, increasing revenue, engagement, and product lines. In this article, we will talk about the pros and cons of Live Streaming Marketing for e-Commerce.
What is live stream marketing?
Through live streaming services like Facebook Live, Instagram Live, and others, consumers and companies may share uncut, unedited videos in real time. An example is a social site called Twitch, which has allowed gamers to engage with their audience in real time. Statistics show that 80% of clients prefer watching live videos over reading a corporate blog.
The Benefits of Live Streaming Marketing For e-Commerce
Let's examine some of the main advantages of live-streaming for your digital marketing plan.
· You could reach a larger audience
The ability to interact with a larger audience is the main benefit of live broadcasting. You can broadcast your live event to as many people as you like. Furthermore, you can connect with those people who you would not otherwise reach.
· Live-streaming has versatility
The advantage of live streaming is that it offers more marketing options than only live streaming and audio streaming. Pictures, text, and live chat are all the different types of material and media you can use during the stream.
Live streaming is inexpensive compared to traditional video advertising, which used to be very expensive. There are free sites, but that means customers frequently get pop-up ads. Professional streaming services for businesses are better and inexpensive.
· It is simple and convenient
You might have heard people saying that live streaming is hard, but those are all lies. A relevant video, a piece of high-quality audio equipment, an internet connection, an encoder, and a platform is all the things you need, and you are ready to stream.
The Drawbacks Of Live Streaming Marketing For e-Commerce
Every good thing comes with some drawbacks. Here are some things to consider about live-streaming marketing for e-commerce.
· Live streaming takes time
If you want to boost your marketing efforts, live-streaming can be time-consuming. In this type of marketing, you must constantly create new material. So select live streaming if you have the time and new content ideas to maintain doing so.
· It can ignore specific users
While speaking to so many people at once is handy, you run the risk of mistakenly ignoring someone who has a question to put. The chat window for live streaming is visible next to the screen, however, due to the volume of viewers, not everyone may receive attention. Some live streams are fun, so it doesn't matter if someone is ignored. But since you are an e-commerce retailer, there are chances you might disregard some individuals who have a question, and this may lead the customer to leave the stream.
· Results may wary
Live broadcasting has helped several firms achieve great success in their e-commerce ventures. However, just because a few brands reached success does not guarantee that all businesses will. Additionally, some companies might not achieve the same amount of audience as famous influencers.
· Live streams are single takes
If you make a mistake during the stream, there is no way to go back. Therefore, before live streaming, you should have a great plan and exercise caution.
E-Commerce stores used to depend on fixed visuals and dull textual descriptions to entice potential customers. Next, digital marketing methods began to rely on video content, but as technology develops, so do the tactics.