New York Fashion Week didn't merely return this September from pandemic hiatus -- it demonstrated just how important "see now, buy now" experiences have become for brands in the meantime. The Met Gala, a media spectacle traditionally sponsored by couture houses like Gucci and Louis Vuitton, added a virtual shopping component by offering a series of exclusive consumer-friendly product drops via this year's official sponsor: Instagram. For designers like Rodarte and Oscar de la Renta, it wasn't enough to stream their runway shows to Amazon Live. The experience included the chance to purchase limited-time products directly on the livestream's carousel.
While livestream shopping has become a mainstay on social networks in China, it continues to make gradual inroads stateside. Even larger players, like Amazon, have yet to consistently draw large crowds. But platforms continue to lean in, including Facebook, which is expanding its Live Shopping Fridays to a daily series focused on holiday shopping, and Pinterest, with the recent announced that a new Pinterest TV feature would focus on live, original, and shoppable videos from creators like Christian Siriano and Olympic diving medalist Tom Daley.
As influencers gain mindshare among social media users, shoppable streaming events offer an effective mid-funnel way to encourage product discovery, consideration, and brand connection.
The Power of "Live"
YouTube's popular unboxing and review videos provide consumers with insights and details that are hard to find elsewhere. Adding "live" to video presents a unique chance for brands to go beyond information, driving sales with a natural sense of urgency, creating brand-building experiences, and fostering consumer dialogue.
Getting Started
As more platforms expand their live commerce capabilities, brands have taken different approaches. Some have launched their own dedicated channels with recurring brand ambassadors in a digital version of fixed TV shopping channels, like HSN. For brands looking to explore livestream shopping, partnering with established influencers presents the lowest barrier to entry.
The first step is thinking about your audience -- not just what social platforms they use but also which ones they trust for advice on products. For example, your audience might turn to Twitter to hear the latest news and gossip, but they might go to YouTube for recommendations about products. Once you know this, it's easier to decide who should host your shopping experience. If your audience is on YouTube, you'll want to find a YouTube influencer. A big name on Instagram might not be your best investment. After you've zeroed in on what type of influencer you need, you can find them either through traditional talent representatives or by working directly with the platforms. Several platforms have launched services that directly link brands with creators.
Given the amount of money that can be made as an influencer, you're likely to be presented with a lot of different choices. It's important to draw a distinction between influencers and celebrities. A celebrity can be anyone with a large audience. Influencers may or may not have as large of an audience, but they're able to directly affect the decision-making process. This is because people are following the influencers specifically for their connection to an area of expertise. In contrast, people often follow celebrities for their association with a fictional character (like a role played by an actor) or a hyper-reality image created by media (like a pop star). This means that the celebrity's opinion might not matter as much to shoppers as that of an influencer.
When considering who to work with, look beyond their total number of followers to see how engaged their audience is. Is there a real, authentic voice in the content? Do people comment? Does the influencer answer? Does that answer seem to lead to a positive resolution? And is the entire conversation related to something that's relevant to your brand?
Key Considerations
The high-wire act of live broadcast involves specific complications in the digital realm. We've assembled the following list of things to keep in mind to make livestream shopping an effective part of your marketing plan:
Photo at top courtesy of Quigely.
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The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.com/MyersBizNet.