Drive Results with Shoppertainment
With consumers spending more time at home in recent months, there’s been a significant jump in LIVE commerce activity. This behavioural shift is driving marketers to explore the dynamics between online content, entertainment and Commerce. Learn the latest trends in Shoppertainment and how to make it work for your brand from the experts in the field.
Executive Speakers
James Chang, CEO, Lazada Singapore
Mark Newton, MD, iProspect Singapore
Colin Phua, CEO & Founder, Captive Interactive Singapore – Live+ and Captive Media China
Christopher Fun, Creative Strategist (Social), Mediacorp
Question & Answer
We have tried shoppertainment with good success where we sold 30 home appliances. How do we scale up, improve ROI and grow viewer base?
Work out a realistic regular live streaming schedule based on your sales/marketing calendar. While there's no standard rule to how often you should live stream, there should be a regularity to this schedule so your followers can expect or look forward to your live streaming. This regularity would vary from brand to brand. Each live streaming session should tie in to your sales strategy, and the products and promotions offered should be carefully curated based on your objectives. ROI on live streaming tends to increase with regularity and if you work on crafting content marketing messages. Viewer base and conversion will grow if you focus on audience engagement creative initiatives and techniques, in addition to incentives like discounts, lucky draws or Gift with Purchase.
How can we engage consumers and get their feedback during the live streaming? Is there a specific insight in terms of consumer expectation?
Always have a chat administrator for your live streaming session and clearly discuss what type of questions or interactions will be handled by the Host and which are be addressed by the chat administrator. Prompt Hosts to interact with audience comments at regular intervals, whether if it’s just a shout-out/greeting to some of the audience or answering some questions that the Host has been briefed on. The chat administrator can also interact with audience by answering questions more regularly and even ask for feedback.
What's a good measure of success for a livestream? Do we look at the profitability of each livestream? Or should we consider the financial performance over a series of livestreams?
It’s always ideal to consider the KPIs over a series of live streaming. Some metrics to consider would be viewership, average duration of viewership, number of engagements, response to any call to action, actual sales conversions. The viewership should not be restricted to the numbers during the live streaming and can include number within one to 2 weeks after the live streaming session.
Given the size of Singapore and the easy access to actual stores in shopping malls, how will this affect shopper conversion online as compared to a much bigger country like China?
Shoppers anywhere will enjoy the convenience of online shopping. However, there is a unique opportunity in Singapore for retailers to apply New Retail strategies, allowing or encouraging shoppers to buy both online or in stores. As long as the shopper engages and converts, the brand/retailer achieves its objectives.
Is running a live stream sales event only for company with big budgets? Thus SME with limited budget will not be able to see positive ROI due to limited budget.
No, live streaming is definitely not only for companies with big budgets. You can start small, try it out and build up scale and frequency over time with the learnings and confidence gathered. Just have to be realistic about expectations based on the investment.
Live/online shopping in Singapore still seems to be driven by bargains/offers. How do we bring the audience to the next level, like in China, that Colin shared?
Discounts, promotions and offers are definitely key drivers of live streaming sales. However, we're also seeing that viewers are looking for information about product/brands and looking out for new/latest or unique offerings. Some are also looking to be engaged and entertained to some extent. All audience enjoy quality productions and appreciate it when they see the brand putting effort and sincerity into the content.
To receive information on our upcoming Webinars, email trade-marketing@mediacorp.com.sg.
