China’s live-streaming sales solutions to see explosive growth
COLDSKY.CN – An iResaerch report (http://report.iresearch.cn/report_pdf.aspx?id=3551, in Chinese) in April estimated that live-streaming platforms serving businesses will see explosive growth amid the COVID-19 disruptions as more companies use live video to interact with customers.
The market for corporate live-streaming solutions reached 1.48 billion yuan ($210 million) in 2019 and may hit 3.5 billion yuan this year.
Increasingly accepted as a popular way of entertainment and life, live-streaming is now also regarded as a must-have in marketing due to its advantages in proving rich information, authentic content, wider engagement with the audience and direct interactions that drive sales.
Such live events also have much lower labour costs and organizational requirements than offline marketing efforts.
Vzan.com, an enterprise SaaS service provider and the top platform for live-streaming solutions, helped Qumei Furniture organize run more than 400 sessions from Feb. 19, securing 60,000 orders totalling 400 million yuan.
The following graph shows the different uses of live-streaming services by companies – online education, telemedicine, cloud office, e-commerce, branding and others.
In comparison with Internet celebrities endorsing products on Douyin and Kuaishou, a company’s live streaming events focus on direct interactions with customers .
Contact author on WeChat @ukingsun