The all-digital experience has become a high priority for brands, especially those which previously relied on in-person marketing tactics, such as live events or driving in-store footfall. From April 2019 to April 2020, live streaming rose by a formidable 99%, while estimates say live-streamed content makes up 82% of all internet traffic. So, with a large consumer appetite for this format, how can the events industry evolve for today’s digital landscape?
From sport, to fashion, to technology product launches, brands from all verticals can maximise the value of live-streamed events with interactive, shoppable video. This enables audiences to not only become part of the show, but allows them to conduct purchases while watching, and also offers them a uniquely tailored digital experience.
Shoppable live events directly boost conversion rates
The pressure to deliver a convenient, streamlined shopping journey is rising, but brands that deliver an optimal customer experience will find 86% of consumers are willing to pay more for it. With live-streamed events, marketers can reinvent the online journey by implementing interactive, ‘shoppable’ hotspots in their video content. This feature, powered by direct-in-cart integration, lets audiences click on the featured products and complete transactions without being redirected away from the video environment.
In November 2020, Facebook debuted shoppable live-streams with luxury fashion designer, Anne Klein, which engaged with consumers remotely and brought the event to their fingertips, wherever they were. This instant connection not only made the event experience convenient and accessible, but also created a seamless pathway from interest to transaction with shoppable technology. Enabling consumers to immediately purchase the products from the livestream is a savvy way to generate greater ROI, but Facebook took this a step further. Through offering limited-time promotions during the event, it built a unique, real-time digital video experience that made the most of consumer engagement.
Give consumers a personalised shopping experience
A tailored digital journey is a must for brands. According to research, 90% of consumers are willing to trade behavioural data for an improved customer experience. This is vital for ensuring viewers don’t simply become lost in the ‘virtual crowd’. One key advantage of digital events over physical ones is the ability for brands to truly personalise the livestream experience, based on consumer insights such as purchase or search histories.
Payments app, Klarna, recently unveiled two shoppable Twitch events, which allowed users of the video game streaming platform to compete with esports pros for gaming gear. Alongside the main event, Klarna also offered users a shoppable wishlist and exclusive promotions from its retail partners. With consumer insights, brands can personalise these aspects of live-streamed events to create a highly relevant, tailored consumer journey that boosts conversion rates.
No matter the industry, enhancing digital events with shoppable video technology can optimise the consumer experience and bring audiences closer to brands, all while driving revenue. Live-streamed events will remain an integral part of the marketing mix moving forward, so brands must explore innovative ways to unlock their potential.
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