Founders Chat Recap: 2023 Live Commerce Outlook
Frost Li, Founder and CEO and Jamie Plankenhorn, Head of Customer Experience chatted about the outlook of live commerce in 2023.
Frost Li, Founder and CEO and Jamie Plankenhorn, Head of Customer Experience chatted about the outlook of live commerce in 2023. There were some great perspectives and tips shared including how you can use live events and one-to-one consultations to retain your new customers acquired during Black Friday/Cyber Monday and the larger holiday season.
The TL/DL (too long, didn’t listen):
- Ecommerce is strong! Videos are playing a huge role in consumer’s purchase behavior - even at 35,000 feet
- Two trends that we observed during the 2022 Cyber Month including where we found discounts and when the discounts started
- Seven Live Commerce Predictions for 2023:
- One-to-One consultation sessions are going to grow: Virtual consultations will grow in popularity as a way for businesses to offer personalized, real-time interactions with customers online both before and after the purchase
- Scaling personalization with face-to-face conversation in a digital space builds a long term relationship between the brand and the customer increasing LTV
- Hybrid online/in-store experience is going to become more and more mainstream
- Authentic conversations will be an refreshing alternative to high-production videos or filtered social media content
- Content marketing is getting quantifiable with attribution
- UGC will evolve with Live Video Commerce so you can see who is giving the review instead of a faceless name on a website
- Brands will experiment with the length of time of live events to find out what works best for their customers
Plus during the Q&A, Jamie and Frost share their tips for brands who are considering live events but have yet to get started.