Most of us are probably unaware of it. But livestream shopping, which grew in popularity during the epidemic, is already a multibillion-dollar business in China – and is expected to hit $25 billion globally by 2023.
So what is livestream shopping? It is when companies use livestreams to promote and sell their products or services through digital platforms or social media with the help of influencers. The goal is to make the livestream immersive and engaging for viewers: People watching the streams can ask questions or chat with the influencer before buying the product. As a result, the shopping experience has moved from physical to digital.
While some marketers may think this is a B2C technique, you should not rule it out for B2B. Irrespective of your industry, you could host a livestream event to showcase how your products or services can address your audience’s immediate need – and then sell it to them instantly.