Until today, live broadcast is a standard tool on various platforms. But the live broadcast itself is actually just a form, and e-commerce is the core.
Zhang Bin, head of the Dianbaoo E-commerce Research Institute, said that if you want to enter the e-commerce live broadcast today, the first is to get the product strength and brand competitiveness, and the second is to find a suitable platform and anchor. Brands and businesses need to make decisions that are most beneficial to them based on their needs.
Live e-commerce was born in March 2016, and Mogujie is the pioneer of this model. Four years have passed, and there have been many entrants in the field of live e-commerce. Taobao, JD.com, Pinduoduo, Douyin, Kuaishou, Xiaohongshu, etc., are all vigorously broadcast live. In the eyes of laymen, these platforms are players in the field of live e-commerce. But in the eyes of insiders, the logic of live broadcast on different platforms is quite different.
The current live broadcast e-commerce platforms can be roughly divided into three categories, including the "first quadrant players" based on traditional shelf e-commerce such as Taobao, JD, and Pinduoduo, and the "first quadrant players" based on consumer communities such as Mogujie and Xiaohongshu. Two-quadrant players" and "third-quadrant players" based on pan-entertainment content platforms such as Douyin and Kuaishou.
"Quadrant Players" are mainly brand live broadcasts and product recommendations as the guide. Platform users have a strong buying mind. In this type of platform, brands and businesses can use live broadcasts to better increase the repurchase rate of old customers and achieve efficient conversion of private domain traffic.
The "third quadrant player" is mainly based on celebrity live broadcast and customer demand-oriented. Platform users have a strong entertainment mind. Live broadcast is just one of the ways celebrities can monetize traffic. This type of platform has a large traffic but is highly generalized, and is more suitable for promoting products with low customer unit prices and light consumption decisions, such as low-priced cosmetics and snacks.
Mogujie belongs to the "second quadrant". "Quadrant Players" have high e-commerce traffic attributes and celebrity attributes. The celebrities on this type of platform are mainly professional content producers. TAs know how to recommend suitable products to consumers. Because of this, the traffic conversion efficiency of Mogujie anchors is at the forefront of the industry. During Double 11 in 2020, the Mogujie anchor "Little Sweetheart_ It" created a single game of 273 million turnover with 2 million fans, which is evident in the super high traffic conversion efficiency.
In addition to choosing platforms, brands and businesses also need to learn how to choose anchors. In the second half of 2020, there are many live broadcast chaos, and the main problem lies in the matching of anchors. In fact, before the live broadcast, the brand first clarifies what the goal of the live broadcast is. Brand building, conversion of old customers, promotion of new products, clearance of stocks...Different goals correspond to different anchor matching strategies, so it is not easy to overturn.
For brands with brand building as their core appeal, the brand can sign the live broadcast rights and interests into the contract framework with the spokesperson, and actively organize the spokesperson to interact with the public in the live broadcast room through factory traceability and brand headquarters visits. For brands that take the conversion of old customers as their core demands, you don't need to find experts to cooperate, but try brand self-broadcasting. Through brand live broadcast, revitalize resources such as shopping guides, company executives, product experts, and use brand endorsements to activate private domain traffic, and finally realize the conversion of regular customers.
However, for brands whose main purpose is to promote new products, they actively seek cooperation with leading anchors and star anchors. Although cooperating with top anchors and celebrity anchors, brands need to pay channel premiums such as pit fees, but with the help of celebrity effects, new products can quickly gain popularity and seize consumers' minds.
Today, the core elements of live e-commerce are still people, goods, and venues. Brands and merchants want to enter the live broadcast e-commerce, they need to control their pallets internally, and continue to improve product strength and brand competitiveness; externally, they must understand platform differences and find out the characteristics of anchors. Only "internal and external training" can play the live broadcast room!