In this new era – which we like to call the era of Live Engagement – the exchange of information went from dropping by at a store to shopping online and from a phone call to Zoom. All forms of communication are now taking place live on video, whenever, and wherever.
The impact of video
Digital video is booming. Globally, traffic from online videos is constituting over 80% of all consumer internet traffic in 2020. In video, we find communication more effective, which also goes for the delivery of information for marketing purposes. When we’re talking about customer engagement, video messaging and advertisements are able to create an impact and get attention. According to Nielsen, 74% of a video campaign’s impact can be achieved within the first 10 seconds. In the rapidly changing world of digital content, short attention spans and mobile viewers generate approximately half of all web traffic worldwide.
Going mobile is key
Hubspot claims that users downloaded mobile apps 194 billion times in 2018. Shopping apps are in the top 10 most downloaded apps on both Google Play and iOS. It’s about digital ‘experiences’, and that’s critical for brands to understand. Consumers are demanding hyper-personalized experiences that are direct and secure. When they are on their phones, they expect the experience to transform to suit that device.
Consumers want to be treated individually, but they will refuse to engage with your brand if their trust is breached. If anything, future app experiences will more closely reflect the human experience we’ve known for thousands of years, which is essentially reduced to this fact: Humans desire to be known personally, but we tend only to build those relationships with people we trust and historically in person.
The future is bright
Let’s talk about the path Live Engagement is taking. Where is this trend going and how is it evolving? In our Retail Research paper, we’re discussing the increase in the use of digital devices in our daily lives and how it has led to continuous growth in the consumer electronics industry worldwide. The demand for consumer electronics increased tremendously last year as millions adjusted to working from home and had to set up home offices and will continue to grow in the upcoming years.
In the competitive retail industry, the results of our research paper indicate that customer experience, not products, is the deciding factor in purchase decisions. We can see in the results that 76% of consumers have switched to another retailer, not due to price or product features but just because the online service they were offered was easier and more personal. When it comes to online shopping, consumers value digital-first and real-time customer support. Something that is generated through a Live Engagement platform.
By providing a more extensive range of contact options that enable customers to talk to brand
experts online with Live Video Shopping or other channels, retailers can maximize their touchpoints with customers and are more likely to increase conversion rates and online sales. The data from this survey would imply that customers’ time is precious, and they value a personal and easy online buying journey. It would be fair to assume that they value their time over the cost or product or features. A pleasant and comprehensive customer buyer journey will likely result in lower cart abandonment, higher digital sales, and more loyal customers.
So, what’s next for Live Engagement? We can expect some developments in the next few years. McKinsey stated the following:
- Micro- and nano-influencers: find the right host for your Live Engagement platform. It’s not always the best decision to go for big-name influencers – when you use an influencer with a few thousand dedicated followers, it can generate a more intimate and trusted connection.
- Expansion into new sectors: the term Live Engagement will continue to expand, so it’s good to see opportunities in new sectors. Industries such as healthcare, finance, engineering, and B2B are all starting to embrace live engagement!
- Innovative formats: make the shopping experience even more immersive and enable buyers to see your products from every angle – with Live Video Shopping or Live broadcasting.
Live Engagement has become extremely popular and successful for consumer companies all over the world. It all started in China but now Europe and the United States are catching up fast. Some pioneers have achieved extraordinary success and impact. Others wanting to follow this path will need to move quickly and get the most out of this new dynamic sales channel.
To find out how Whisbi can help you implement our Live Engagement solutions in your sales strategy and create an engaging online experience, schedule a demo with us.