How does live streaming make you addicted to shopping?

At the beginning of 2020, the COVID-19 outbreak gradually spread across the country, and the overall domestic economic growth rate began to slow down and stagnate briefly. The development of enterprises and personal employment suffered unprecedented impacts. In order to get out of the predicament, all walks of life have emerged with new development models, such as online teaching in the education industry, online new product launches in the mobile phone industry, and live streaming sales in the service industry...

In live streaming marketing, Viya brings in 2.7 billion yuan worth of goods annually, Xin Youzhi brings in nearly 800 million yuan worth of goods in 4 hours, and Luo Yonghao brings in 170 million yuan worth of goods in a single live streaming session . These data directly caught the audience's attention, allowing companies and individuals in the downturn caused by the epidemic to see new opportunities, and also allowing more people to see new trends.

Live streaming not only solves the channel problem, but also opens up a new and more efficient marketing model. It not only adds efficient sales channels for companies, but also solves the employment problems of some people, and sets off a wave of live streaming sales.

What makes live streaming so magical? This article will share with you how to sell goods through live streaming. We will share from three aspects: live streaming goal setting, creating selling points, and live streaming strategy.

1. Goal Setting

The first thing to do when doing live streaming is to determine the goal. What do you want to achieve through live streaming: user volume, transaction volume, or sales volume?

Determine a clear goal, develop a marketing strategy around this goal, and make a complete marketing plan. With trading volume as the goal, what do we need to think about?

Let’s look at the following questions first:

• What is the target trading volume? Quantify the goal and work around it;
• Which live streaming platform should I choose for live streaming? Because some live streaming platforms have different crowd portraits;
• Is the choice of live broadcast date reasonable? It is necessary to avoid some external factors that are not conducive to reaching a deal;
• What user base is needed to achieve the target transaction volume? See how much can be accomplished with existing resources and how much requires external resources;
• How much of the target transaction volume can be achieved through existing users? How much of it needs to be accomplished through attracting new customers through channels?
• How to connect to channel resources to achieve the target volume by achieving existing sales and attracting new channels?
• What is the cost of achieving the set goals, and what are the costs of completing transactions through existing customers and attracting new customers?
• How to achieve target transaction volume at the lowest cost? Can we leverage external resources?

Setting goals is the first step in live streaming, and it also determines the volume and scale of the entire live streaming, and specifies the direction for the live streaming team.

2. Selling point creation

Creating selling points is the core of live streaming marketing. Live streaming marketing is different from regular activities and requires more direct and stronger selling point support to impress users.

Creating selling points is done around the set goals. Selling points need to be conceived for different groups of people who want to make transactions, while taking costs into consideration, with the goal of maximizing profits at low cost.

The following points should be noted when creating selling points:

• Calculate the total cost of the selling point;
• The creation of selling points also needs to be divided into different groups of people, and different selling points should be created for different groups of people;
• Selling points need to be divided into levels, such as highest, medium, and ordinary, and set certain thresholds and quantities;
• What actions do users need to complete to obtain the discounts set by the selling points? Small selling points complete interactive actions, and big selling points complete actions that promote goal setting;
• The realization of selling points needs to be combined with the actual situation of the platform, including whether the product, technology, and operation are smooth in execution;
• The selling point needs to be packaged with the most concise copy so that the target audience can understand it easily;

In short, creating selling points is the most important part of the entire live broadcast, which determines the strength of achieving the goal. It is also the biggest part of collaboration. From the proposal to the implementation, different jobs and departments need to cooperate to achieve the ultimate goal.

3. Live broadcast strategy

Live streaming, like events, also requires an operational strategy. If the live streaming strategy is well mastered and can match the most cost-effective product-channel-user resources, it will produce twice the result with half the effort.

Not only can the set goals be achieved, but expectations may also be exceeded. Here we will share from three aspects: product selection, target audience development, and channel promotion.

1. How to choose the right product?

Choosing the right product must be based on the set goals, and looking for the most suitable product around the goals.

At the same time, the product must be combined with selling points, and the selling points can support the target product to the greatest extent.

The product’s cost-effectiveness is real and can truly impress users, making them feel that they will lose out if they do not buy it this time.

The target product should pay attention to the following aspects when combining selling points:

1. Products need to be graded according to their selling points. The corresponding quantities will increase from small to large according to the discount strength given.
2. The greater the discount, the smaller the product volume; the smaller the discount, the larger the product volume, which makes it easier to control costs;
3. The overall cost of the product should be shared with partners as much as possible to reduce the cost of live streaming;
4. The display of the product needs to be packaged with copywriting that is down-to-earth and impresses consumers;
5. The product has different marketing selling points for different user groups.

2. How to tap into the target audience?

The audience of the live broadcast must be the target users of the selected product. High accuracy can produce efficient conversions.

How to tap into precise target audiences?

• Mining and screening existing users on the platform, identifying user portraits, and mining in batches;
• Dig out users who have lost from the platform and bring them back through secondary activation;
• Mining from external channels, such as referrals, brand reputation, paid promotion, etc.

3. Which channel to choose for promotion?

Channel promotion is an important bridge for communication between products and users, and is also the most effective medium. When doing live streaming, it is crucial to choose the right channel, because it costs a lot to find users through the channel, which is an organic whole with the entire cost of live streaming.

The selection of channels must be based on the attributes of the target audience and the goal is high cost-effectiveness.

Let’s see what channels are available:

• Access existing ports on the platform, such as app resource locations, self-media resources, stock data pools, etc.
• The live broadcast platform accumulates fans to spread and share, so a complete set of promotional materials is needed to target the selling points of the live broadcast;
• SMS push, but the number and cost of push need to be controlled;
• Publicity and promotion to user marketing groups;
• Promotion through paid channels, such as purchasing keywords and placing advertisements through information flow channels.

at last:

After the entire live streaming marketing strategy is completed, a complete execution process needs to be prepared for each link, that is, to promote the implementation of each module.

Each person divides the work and collaborates in different modules, formulating a reasonable completion schedule to enable the team to operate efficiently and fully utilize resources. At the same time, live streaming also needs to be based on a certain amount of fans. How to convert existing fans into live streaming viewers is also something that requires careful consideration.

The more fans you have, the greater the chance of converting them into live broadcast viewers. When there is no live broadcast on daily basis, it is also very important to do more fan-increasing activities to achieve the purpose of attracting more attention and getting more brand exposure.

In short, through live streaming, everyone can become a self-media, and the space for development is wider and more diversified.

Author: Minghang Talks about Operations

Source: Minghang Operations