Brands are highly focused on marketing strategy and improving businesses using communication tools for promotions and sales. More importantly, it has become inevitable to be a part of new trends in the marketing landscape to stay ahead in the business economy. Approaching your customers and convincing your visitors about your products and services with live streaming is one of the trending marketing tactics.
Live streaming is highly effective in the e-commerce marketing domain. With the audio-visuals gaining popularity and proving their effectiveness, Magento 2 has provided live streaming options for product demos either on social media platforms or on the website itself. The pandemic has largely been the cause of this shift because it pushed brands and marketers to follow this trend to communicate with their users.
According to Livestream and New York Magazine, almost 80% of people prefer live videos over blogs. Marketers can now connect with audiences, encourage them to interact with their brand, increase brand and product awareness among consumers, and encourage them to proceed with the checkout process. Being one of the most important marketing tools, you should know its few details such as what exactly it is, how you can use it for the best results, why you should use it, and Magento extensions for live streaming.
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What Is Live Streaming?
Nowadays, you can easily go live on streaming sites such as YouTube and Facebook using a device (Smartphones, laptops, etc.) connected to the internet. Audiences can now view products and demonstrations in real-time, ask questions about the products, and can place orders through a live chat window while watching the live videos.
Live streaming becomes a precious
resource for marketing, especially for
the eCommerce industry, to stay
connected with audiences and drive
online sales.
On the other hand, marketers can get basic real-time information too such as the number of viewers, reactions, and comments using Magento extensions for live streaming. All in all, you can improve customer conversion, engagement, sales, and revenue in a shorter period of time.
Benefits of Live Streaming
- Build Brand Trust Among Your Audiences
- Brand Awareness
- Increases Customer Engagements
- Improve Conversion Rate
- Improved Customer Experience
1. Build Brand Trust Among Your Audiences
Live streaming by an influencer will help you gain the trust of your audiences. An influencer, who is followed by a large number of audiences can make your audience believe in your products and your brand. Plus, a live video allows viewers to experience your products in real time, not through a recorded video or edited photos. It will bring authenticity to your product’s quality and trust in your brand.
2. Brand Awareness
Live streams can give precise information on products and allow them to communicate with other viewers having the same interest. This will build a stronger and bigger community of your audiences and improve awareness of your brand among them.
3. Increases Customer Engagements
A live stream can hold viewers’ attention almost 20 times longer than a recorded video. That’s why Live streaming is getting popularity over time in the marketing economy to engage audiences.
4. Improve Conversion Rate
Live videos encourage trust in products and inspire people to buy more in real time. Consumers can see how a product looks in real life, how to use it, and what are the benefits. Perfectly created live videos can invoke urgency and inspire customers to purchase products in real time.
5. Improved Customer Experience
Marketers can invite any number of influencers in live streaming videos. New and existing customers can watch this and can even message during the stream. You can add products to display in the live stream. Customers can access the previous streams, live streams, and upcoming streams.
How Others Are Getting Benefits From Live Streaming
Many popular brands are already reaping the benefits of Live videos. Tommy Hilfiger attracted almost 14 million people and sold 1300 hoodies in two minutes only in a live stream program. On the other hand, in December 2022, Walmart launched the live streaming in Tiktok and ended up with 7 times more number of viewers than expected and its followers increased by 25 percent. In another live video by famous model Kim Kardashian and Viya (one of the famous streamers on Taobao) sold 15000 bottles of KKW Fragrance within minutes.
No doubt Live streaming is getting popularity for product marketing among marketers, especially in the eCommerce industry.
Magento 2 Extensions for Live Streaming
Magento extensions can be used to propel live streaming videos. With Magento 2 extensions, you can design experience-driven live videos by allowing marketers to design live videos and viewers to get additional information on products. Marketers can assign influencers, and add descriptions, thumbnails, titles, merchandise, and scheduled date. Here are a few of the Magento2 extensions for live streaming:
- Activity Stream
- Facebook Livestream for Magento 2
- Magento Live Feed Extension
1. Activity Stream
Go live with the activities happening at your store such as any new customers that registered, new products added, products sold, and more. Your consumers can see which products have been sold to whom in real-time and how many people are viewing a product and other such activities. With these kinds of live information, your consumers can feel that they are not alone in your store. Also, this information can help them to make decisions with more confidence.
2. Facebook Livestream for Magento 2
Stream live videos from Facebook on your Magento 2 website in real-time to interact with your customers directly and encourage them to purchase products during the live stream.
3. Magento Live Feed Extension
Give updates on all the social activities of your store in a single live stream. Your customers can track what other site users are sharing socially, showing their interest, or actually buying.
Integrate the extension meeting your requirement perfectly for your Magento store. Set up a one-to-one session with the NextRow’s Magento expert
Best Practices for Live Streaming
-Know your audience and then plan accordingly
-What are your goals?
Creating a live stream heavily depends upon your approach and strategy. If you are wondering what is the best practice for Magento 2 live streaming then the answer will always be there is no magic. All you need is a thoughtful strategy.
-Know your audience and then plan accordingly
Knowing your audience should be a major part of your strategy. It means you need to identify who and what influences your audience most. For instance, adults are quite influenced by celebrities in comparison to millennials who require different strategies.
Build the personas of your potential customers and work upon what can influence them most.
-What are your goals?
Live streaming should align with your goals. Whether you want to create awareness about your products or generate instant feedback; you can always create live videos around your goals.
Bonus Tips for Live Streaming
- Promotion before live show
- Check internet connectivity
- Test before live show
- Find the best environment to record
- Add a call-to-action
- Engage with your viewers
The Future With Magento Live Streaming
Magento 2 Live Streaming is transforming the way of e-commerce marketing. It helps brands to sell a larger number of products instantly, shortens the sales cycle, and increases revenue. This is just a step into live stream marketing but we will definitely see a lot more in the future. For instance, nowadays, it is most popular in the eCommerce industry but we can expect to see its importance in other sectors as well. Likewise, advancements in technology such as AR, VR, and AI can add innovation to live streaming too. As of now, you can reap the benefits of live streaming at your Magento store to encourage more purchases and engagement.
If you need any help with the Magento store and live streaming on the Magento site, contact our Magento experts at sales@nextrow.com.
