Technology live commerce, live shopping, live streaming commerce

How CX will be improved by Live video Shopping

Live Commerce

How do you make certain that your brand is able to stand out among its opponents and satisfy customers? The best customer experience a consumer has had with your brand is a clear indicator of how much you value them and this plays a major role in customer’s purchasing decisions.

Hence 89% of organizations today are already competing on customer experience.

But what is Customer Experience?

It can be defined as the perception that customers make based on their interactions with a brand. Customer experience shows how effectively you communicate and connect with your customer which often influences their future behavior.

Why is Customer Experience so crucial for eCommerce?

According to a survey enhancing Customer Experience can increase profitability at a rate of 5.1 times compared to those who do not.

Great customer experiences influence customer retention and brand loyalty, as well as encourage word-of-mouth marketing. A negative customer experience on the other hand produces the opposite results.

Thus when you give customers a satisfying experience they will stick with you, be more loyal to your brand, and will shop more from your brand.

Hence, to sum up, we can say that will offering good experiences to your customers you will see improvements in the following:

Customer retention

Customer loyalty

Customer lifetime value (CLV)

Brand equity

Referrals

Revenue and growth

Brand awareness

– Brand reach

Over the last few years especially with the coming of Covid-19, videos have proven to be a successful tool to help brands expand their customer reach and brand awareness. Live video shopping includes influencer collaborations, live videos, and entertainment, whilst launching and promoting products to an infinite audience online.

Here is how Live shopping can help you improve customer experience.

Personalization

Personalization is one of the most important aspects that boost customer experience. Shoppers reward brands that show they understand their needs and can fulfill their shopping expectations. Live Commerce does a great job of personalization. When you host a live show and give you personalized recommendations to audiences, it drives impulse purchases and builds relationships.

Furthermore, replying to customer queries during a live session shows that you care about your customers and take their concerns seriously. It’s an easy way to create a perception of trust among buyers.

Live Engagement

Live online engagement is critical for retailers as it allows shoppers to interact with retailers in real-time and is known to increase conversion rates.

Live engagement can increase the sales conversion rate by 10 times and average order value by over 35 percent, according to a survey. 

By connecting with customers via live video shopping drives a significant emotional connection that goes beyond a product and price.

Product Experiences

Incorporating videos to sell your products or services is a great way to improve customer satisfaction; after all, humans, by their very nature, are visual learners. A video can explain a product, its features, benefits and show customers how to utilize it best. Thus live commerce can help customers make the most of their investment, while simultaneously increasing their knowledge of a brand.

Sense of Urgency

A sense of urgency gives your customers a reason to move forward and shop from you. Through live stream shopping, you can create anxiety in your audience with an idea that your products are available for a limited time period only. Hence audiences are much more likely to take quick action and make a purchase.

There are many ways you can create a sense of urgency during a live show

– Offering limited-time discounts

– Running giveaways

– Hosting live polls

– Hosting live contest 

– Running sales

Summing up

Video commerce shares product information faster and in an effective manner and gives your business a distinctive edge over your competitors.

Today’s customer experience is all about connecting with your customers in as many ways as possible and satisfy them with your services. That’s why brands look forward to leveraging solutions that enhance customers’ experiences. Integrating a live streaming shopping platform can help you improve customer experience and hence customer retention scores. 

Channelize.io Livestream e-commerce solution can be the best way to set your prospect up with personalization, better product experiences, a sense of urgency, etc while generating sales. You can reach us at info@channelize.io and learn more about our live commerce solution.

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