Today I’ll show you why a staggering 80% of people prefer live video over other forms of marketing content and how you can stay ahead of the game.
But first, let me tell you what exactly this blog is not about. At Vajro, the customer is at the heart of our business strategy. Creating an immersive customer-centric experience means offering omnichannel capabilities. After all, it doesn’t make a lot of sense to put all your eggs in one basket, right? Similarly customer engagement is an omni-channel experience. Hence, live video on the App isn’t about replacing live video selling on Facebook but complements it and rather significantly increases your conversion percentage.
Now, let me get to how you can start acing conversions. At Vajro, we’ve worked with hundreds of boutiques and Shopify stores in the past. Being accessible on every channel is critical to businesses in the eCommerce space. Here’s a checklist of channels that add value to your eCommerce store in different ways.
- Facebook and Instagram presence
- Facebook VIP Group
- B&M Retail Store
- Online Store
- Mobile App
Why should you embrace Live Video selling?
Streaming live video, accounts for two-thirds of all internet video traffic and that number is expected to go as high as 82% in a couple of years. Nothing beats live video when it comes to getting personal with your audience and that translates into a 6x increase in outreach when companies engage in live video. Leveraging the power of impulsive purchasing and the fear of missing out, make Live Video the most buzzing medium right now.
Channels for live video sales
Usage of live video streams has rapidly spread beyond the realms of broadcasting into eCommerce. Facebook Live has offered store owners and entrepreneurs an exciting avenue to engage and sell with their audience on Facebook.
Vajro 2.0 live video selling
While Facebook lets you connect with a wider audience, Vajro’s live video sales happen inside the mobile application of your store. Using Vajro, offers an effective platform to connect with your existing user base and provide a seamless live video shopping experience.
Pros of selling on Facebook Live
- Selling live on Facebook helps build relationships with potential customers and expands a brand’s outreach, thereby helping connect with new prospects.
- Building a strong social influence can help you push revenues and it negates the need to advertise or establish a track record of live selling.
- It's on the house. A live video is free of cost to stream on Facebook.
Cons of selling on Facebook Live
- A generic live video on Facebook could bring in more engagement but when you are selling your products on live video, it falls significantly short on the viewers to conversion ratio.
- Conversion rates are lower when manually invoiced. The cost and time involved in the process are not directly proportional to sales revenue.
- A huge chunk of people who join a live video sale on Facebook Live, either quit mid-way or fail to make a purchase. The intent to purchase is low.
- The buying experience on a Facebook Live witnesses drop-offs at multiple points. Switching from Facebook to Email to Invoice turns out to be cumbersome.
- Posting similar content or automated comments means you could end up in Facebook Jail for promoting your store content across groups or pages.
Here’s why you should use Vajro for live video sales
- The tools and platforms that eCommerce stores use to sell, play a huge factor in the revenue trajectory. With options at hand to sell on live video, it is becoming increasingly important to use the right tool for the right purpose.
- The outreach that Vajro offers, is not built to offer something huge like what facebook does, but to sell on live video to your most loyal patrons on the mobile app. You can send targeted push notifications to leverage the customers who love your brand and boutique. Offering a live video sale exclusively for them can make them feel more loved and appreciated.
- If you are wondering why not sell live on Facebook to everyone, the experience on offer in mobile app with Vajro is seamless. With Vajro, you offer them a world-class mobile shopping experience, product overlays on video, instant add-to-cart and easy checkout where their payment information is already in place.
- Things can really get messy and time-consuming with manual invoicing and shifting to multiple platforms. Vajro is tightly knit with Shopify and the whole end to end buying experience stays on the same platform, negating drop-offs considerably.
- The unparalleled ability to export the list of viewers who joined your live video, lets you retarget them via Email campaigns and push notifications. Facebook does not let you view or download your live video audience list. What you’d probably see is Alena and 250 others are watching you live, that’s it. You can also retarget push notifications to customers who abandoned their cart during the live sale. That's your pro-tip to drive up conversion rates even further.
How is live video selling on Vajro priced?
Live video selling is available on the Growth and Power Premium plans at an add on pricing of $4 for every 1000 minutes of live video viewing. Live selling on Vajro is priced based on usage minutes due to costs incurred on video streaming services. No transaction-based fee is levied, enabling customers to reap the highest margins possible.
Live video selling inside your mobile app is way different from selling on Facebook Live where the viewership and outreach are not as sizeable as on Facebook. The intent to purchase is significantly higher amongst mobile app users when compared to a social media audience. Selling live to your most loyal customers' aids in increasing your recurring order value and leverage the power of impulse purchasing.
Let’s assume you have roughly 1000 installs of your mobile app and 600 of them join the live video sale, whereas 1000 viewers may join your live sale on Facebook but end up purchasing much lesser than the live sale on your mobile app.
The Power premium plan will come bundled with one-time usable 5000 minutes of live video selling minutes. The pricing of $4/1000 minutes will apply post exhaustion of free minutes.
When you’re selling your products on live video, know your audience and reach out to them through the best possible channel. The appeal each channel offers is one of its own. Ecommerce companies see before them a remarkable opportunity to offer customers an omnichannel experience. I’m sure you’d go the extra mile.