In the age of social media, more and more people find success selling products online. According to Statista, live commerce or “live selling” grew by 76% in 2020 due to the COVID-19 pandemic. With the world in a state of emergency, more and more people are turning to online selling to make money. Live-selling, or selling products in real-time through social media platforms such as Facebook, Instagram, and YouTube has seen unprecedented growth in recent years due to its immediacy and convenience. Sellers can reach a large audience quickly and easily, and customers can buy products with a swipe of a finger.
Therefore, live selling could be a great option if you’re thinking about starting a business or expanding your current one. Here’s everything you need to know about it.
What Are the Benefits of Live-Selling?
There are many advantages to live selling. For sellers, it’s a great way to make money quickly and easily. It’s also a great way to build customer relationships and create loyalty among followers. For customers, it’s a great way to get high-quality products at low prices. In addition, live selling allows customers to ask questions directly of the seller and get answers immediately.
If you’re thinking about starting a live-selling business, there are some things you need to know.
- Make sure you have good quality products that people will want to buy.
- Make sure your social media presence is strong; you’ll need an active account on at least one platform.
- Make sure you have enough inventory to keep up with demand.
Having Good Quality Product That People Will Buy
This should be a no-brainer, but it’s important to ensure you have products that people want to buy. There’s no point in live selling if you don’t have anything people want. Do market research to determine what products are popular now and consider stocking up on those items. You can also use social media to gauge interest in potential products.
For example, you could do a poll on Instagram Stories or Twitter to see if people would be interested in a particular product. You can also use analytics to see which products get the most engagement on your social media platforms. Use this information to decide what products to stock and sell.
Having a Strong Social Media Presence
As mentioned earlier, you’ll need to have an active social media account to be successful in live selling. Platforms like Facebook, Instagram, and YouTube have billions of users, so it’s important to tap into that market. If you don’t already have a social media presence, now is the time to start building one.
Create accounts on all the major platforms and start posting quality content. Engage with your followers and build up a following of loyal fans. Once you have a strong social media presence, you can start promoting your live-selling videos. But it doesn’t end there; you should also invest in your appearance.
Make sure you’re well-groomed and presentable; live-selling is all about building customer relationships, so you need to look your best. Even plain smiling can help greatly. If you’re not confident about your smile, dental implants can give you a natural and healthy one. It can also help to wear clothes that are stylish but not too flashy. You want to look approachable, and like someone, people would want to do business with.
In addition, make sure your background is clean and clutter-free. Customers will be more likely to take you seriously if your area looks professional. You can display your products on shelves or in baskets to make them look more appealing. And last but not least, make sure your lighting is good. No one wants to watch a video that’s too dark or too bright; find a balance that works for you and makes you look your best.
Having Enough Inventory to Keep Up With the Demand
When you first start live selling, you might not get much traffic. But as you build up your following and promote your videos, you’re likely to see an uptick in sales. It’s important to have enough inventory on hand to meet this demand. You don’t want to run out of products and have to tell customers that you’re sold out. That’s a surefire way to lose business. Instead, make sure you have enough stock to keep up with the demand. You can use polls to gauge interest.
With its many benefits—including interactivity, efficiency, and effectiveness —live selling is definitely a viable business model in the age of social media. Make sure you have quality products that people want to buy, a strong social media presence, and enough inventory to keep up with the demand. If you do, you’re sure to find success in this new and exciting platform.