Due to the continued impact of the epidemic and the formation of a new normal, shopping on live stream platforms has become a new way for users to shop. By watching influencers introducing products on live streaming, users are more likely to purchase during the live streaming either out of curiosity or out of trust in those influencers!
For Merchants, selling products on live stream by influencers can generate brand awareness as well as driving sales.
The prices of products on live streaming are lower. Merchants need to profit through live streaming, in that case, it is better for them to select products with adequate profit margins. In order to drive sales, as well as ensuring profit, it is crucial to price their product appropriately.
As all Chinese know, Li Jiaqi (李佳琦), known as “Lipstick King” in China, is no doubt the NO.1 salesman of beauty products in China. He once brought Alibaba more than US$145 million worth of sales on 11.11 (Chinese E-Commerce Festival). A non-stick pan manufacturer found him and asked him to sell their products on his live stream, but a huge accident occurred during the live streaming, and the non-stick pan was a sticky mess when making omelette. It is important to know your positioning and find the right influencer for your product!
Selling products on live stream not only requires the “lowest price on the entire network”, but can also drive users attention through coupons, gifts, limited quantities, and price limits, and give users a feeling of “unlimited discount”.
Taobao live stream: the unshakable leader in the e-commerce industry, with the most mature live stream supporting tools
Tencent live stream: social ecology, the most complete platform for private traffic. If the private traffic is abundant, Tencent live stream is a good choice. At the same time, it links up with the WeChat ecosystem such as corporate WeChat, communities, Moments, mini programs, WeChat Channels, WeChat coupons, etc.
Douyin (Chinese version Tiktok) live Stream: with more young audience.
Kuaishou Live Stream: The most down-to-earth short video platform, the most authentic recording of life.
Red (Xiao Hong Shu): the first choice for Merchants targeting female audience.
Bilibili live stream: China’s biggest anime streaming sites as well as video sharing website themed around animation, comic, and game (ACG), where users can submit, view and add commentary subtitles on videos.
Jingdong live stream: the first choice for 3C Merchants targeting male audience.
Pinduoduo live stream: The first choice for small-town and rural markets (下沉市场) in China, the market for cost-effective products and cheaper products is huge.
Weibo live stream: the best social platform for social dynamics and following celebrities, which can be connected to Taobao for closed-loop marketing.
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