The Following is Guest Blog from Nicolas Bailliache, Founder of www.Estreamly.com
Liveshopping events are the most exciting trend in the world of retail and e-commerce now, with the value of the Livestream shopping market being estimated at $500 billion – a figure which is growing all the time.
As a trend that started in China in 2016 – quickly gaining popularity and spreading throughout the rest of Asia over the next couple of years – retailers across the world have had to take note, due to these events’ ability to skyrocket sales, achieve sky-high conversion rates and drive brand loyalty.
What is a livestream shopping event?
Similar to the teleshopping channels popular in days gone by, livestream shopping events show, promote and demonstrate products through livestreams hosted online, often through a live video e-commerce platform like eStreamly.
However, unlike the teleshopping channels of yore, a livestream shopping event’s audience is able to interact with the host by leaving messages and comments – who can respond in real time via the livestream – as well as interact with other community members via a chat feature.
Most crucially, however, customers can make purchases easily while the livestream is taking place – without having to navigate away from the event – so they can instantly buy the products being talked about on the livestream.
These livestreams can be hosted by a member of the retail business themselves, by a professional host, or by a celebrity, influencer or content creator.
Why should creators do livestream shopping events?
As a content creator or influencer, you might be wondering if hosting a livestream shopping event is the right choice for you.
Here are a few reasons you should consider it – and why it might be the best move you make in your career.
It’s a highly marketable skill.
As a content creator, it can be difficult to keep up with the latest trends and to stay relevant in such a rapidly evolving industry.
However, this is one trend that’s sure to dominate the marketing space over the next decade, making the ability to successfully host liveshopping events an invaluable skill that brands will be on the lookout for in the very near future.
Obtaining this skill will give you bargaining power with brands, since they’ll be confident of the value you can bring to their livestream shopping event.
Differentiate yourself.
By jumping on the livestream shopping bandwagon before the trend has really taken off, you have the opportunity to become a livestream shopping expert – ahead of many others in your industry.
In a highly saturated influencer market, this is a way to set yourself apart from other influencers and give brands one more reason to work with you over one of your peers.
Build your audience.
While hosting a livestream shopping event, the audience gets to see a whole lot of your personality, thanks to the long-form, interactive nature of the content.
Not only does this give your current following the opportunity to connect with you, but it also exposes you to the audience of the brand, who may well turn into your new followers.
In the last year, a Taiwanese singer named Liu Genghong generated a moderate number of sales worth $800,000 through hosting a livestream home fitness shopping event.
However, though this number is nothing to write home about in comparison to other liveshopping event success cases, his follower count grew by 10 million within a week.
In the creator economy, this kind of audience growth skyrockets the careers of creators, massively raising their income potential and their attractiveness to brands.
It’s an investment in your future.
Typically, when brands execute livestream shopping events, they don’t pay influencers/content creators a flat rate. Instead, they offer their livestream host a percentage of sales.
This might deter some content creators from giving livestream shopping a try, particularly if you’re a creator with a smaller following – but it shouldn’t.
In addition to the earnings you’ll receive from hosting your first liveshopping event, as you host more – and news of the events reach a greater number of people – your earnings will increase.
What’s more, hosting these events will allow you to hone your skills so that your hosting is more successful at driving sales. This, in turn, makes you more attractive to brands and encourages them to offer you a higher percentage of sales.
It can be incredibly lucrative.
Since livestream shopping hosts earn a percentage of the sales made on the livestream – rather than a fixed rate – there’s no real limit to your earning potential.
A Chinese influencer known as lipstick king or lipstick brother sold $1.7 billion dollars’ worth of goods in a 12-hour Livestream last year, on China’s biggest shopping day (known as Single’s Day, which is roughly equivalent to Black Friday in the west).
In China – on average – a liveshopping event host earns 10-30% of the profit made from the livestream shopping event.
Needing no further explanation, livestream shopping events may become the most lucrative opportunities for influencers and content creators going forward, when using a livestream shopping. And eStreamly can help you.
Want to learn more about this opportunity? Here are a few resources
Creators Legal has recently partnered with eStreamly to offer the Creators Legal community a 15% discount of an eStreamly subscription. See more below.
About the author/eStreamly:
Made in France, based in Atlanta Y’all! Nicolas Bailliache is the co-founder of eStreamly.com, a live and video commerce SaaS platform empowering brands, retailers and creators to engage shoppers and sell seamlessly using the power of shoppable videos. Live is shoppable on your website and across social media. Start monetizing your livestream content today! PLUS, as part of the Creator Legal community, estreamly will offer a 15% discount to their monthly plan to any new subscriber to eStreamly Live shopping solution – contact nicolas to know more: hello@estreamly.com
