The Power of Live Sales & Why I Think YOU Should be Utilizing Them!
If you follow me, you’ve no doubt noticed that I’ve been doing a ton of live sales lately. The hype surrounding these sales is real, I’ll explain why. According to Statista, the global live commerce market was valued at $60 billion in 2021 and is projected to reach $423 billion by 2027.
As an influencer, live sales give me the opportunity to connect with my audience, but more importantly they create a major sense of urgency. For the brands I work with, it not only increases their reach, but it drives a ton of organic engagement and, in my experience, results in a load of sales.
Before I share my best tips and tricks with you (because believe me, it was a learning process), let’s go over the major pros and cons of a live sale.
Pros:
Real-time engagement: in a live sale I can answer questions, try the product on/share details, and give my own review, creating a super interactive experience for the viewers.
Immediate sales opportunities: live sales encourage impulse buying, which often leads to higher conversion rates. In my experience, there’s also a level of competition to it. Things can get spicy… in a fun way! :)
Interactive shopping: being able to chat with both the influencer and other shoppers in a live sale makes the shopping experience feel much more personal and engaging. The more engaged a shopper feels, the more likely they are to participate and make a purchase!
Inventory Clean out: live sales are a GREAT way to offload old inventory and make room for new. Imagine the amount of time (which is $), and effort that goes into a traditional clearance sale. It could sit for weeks, months, maybe forever! Now imagine selling the majority, or even all of it in a two-hour live sale!
Cons:
Logistical Challanges: I won’t lie, these sales take a bit of work and organization on the back end. They require the brand be present during the sale to record orders, and afterwards there’s lots of invoicing to be done.
Pressure on the influencer: Live sales can be intense! The influencer needs to maintain engaging and high energy, answer questions, and close sales in real time.
Risk of poor performance: In my experience, if you price your items right, a poor performing live sale is few and far between. But, it’s always a risk. Technical issues and low viewer numbers can lead to a disappointing experience.
My top 3 tips for a successful live sale:
Make sure the price is right: The best lives sales always involve “clearance” pricing. Think $30 and below. People are way more likely to impulse buy when they think they’re getting a good deal.
Be prepared: I cannot stress this one enough. Come prepared with a line sheet for your influencer. This should include each piece in number order with their original price, sale price, and any other necessary inventory info such as sizes available etc. Maintain open communication with the influencer leading up to the sale - make sure they know how many pieces you’ll have as it will affect their rate.
Timing matters: Ask your influencer when their audience is most active. For me, it’s Sunday - Thursday evenings. I like to schedule live sales for a 6:30/7pm start time, knowing they could last 2-3 hours. Through trial and error, I’ve also learned that my audience is more likely to sit on Instagram on a weeknight rather than a weekend.
If you made it this far, I’ll leave you with this: social media is an ever changing, fast paced, monster. Live sales are a great way of staying innovative, embracing technology (ew, I know), and prioritizing genuine connections.
I would love to know your thoughts! If you’ve ever got questions about a live sale please reach out either via DM or our Discord group! I’m more than happy to help walk you through the process.
I’m here for you and your success, always!
