How to Optimize & Monetize Your Instagram Lives

Instagram Live: Why it is Good for Business

The origin of Instagram started as a clean and simple photo-sharing platform but has since transformed into a social media behemoth, boasting 2 billion monthly active users worldwide. With a user-friendly interface, impactful hashtags and filters, and the release of features like Stories, Reels, and Live, Instagram has become a very powerful platform for both consumers and businesses.

Instagram presents an incredible opportunity for brands and retailers to showcase new and existing inventory, build audiences, interact with viewers, and create a dedicated community of loyal followers.

When paired with a powerful retail strategy like live selling and video commerce, Instagram’s capabilities for retailers and brands skyrocket.

Selling Live on Instagram: 6 Reasons Businesses Should Consider It

With the addition of live selling, there are tangible benefits to adding a strategic Instagram strategy to existing sales tactics.

  1. Reach a larger audience with higher purchase intent.
    Nearly 130 million viewers click shopping posts each month on Instagram. Finding items of interest on the platform is quick and efficient for scrollers through descriptive hashtags, organic posts by popular brands, and the use of influencers.

    For brands that host live sales on Instagram, these high intent shoppers are even easier to target. 72% of shoppers prefer learning about a product or service through video. Live selling is the real-time response to this growing consumer preference.

  2. Boost revenue.
    Instagram is a profit-driving channel. The right live selling strategy can significantly increase profits for retailers and hosting live sales on the social media platform (where shoppers already spend significant time) means users get even more facetime with brands and their inventory. Live commerce platforms like Videeo facilitate shoppable Reels that are accessible to shoppers 24/7. Hosting live sales on Instagram suddenly become round-the-clock revenue.

  3. Sell live across channels with no added cost.
    Instagram already offers a cross-channel posting option with Facebook, which increases reach and brand awareness. To take exposure to an even higher level, the right live selling software will blast live sales not only across Instagram and Facebook, but also to webstores simultaneously. This means three times the reach for the same amount of output.

  4. Drive social followers to your website.
    Retailers can drive new traffic to webstores by promoting and selling items live on Instagram. 73% of shoppers prefer exploring products and brands in multiple places online, and businesses with an effective multichannel strategy have an 89% customer retention rate. Using Instagram’s popularity to drive shoppers to webstores and additional selling channels can increase both user experience and retailer ROI.

  5. Maintain inventory control while selling across channels.
    Certain live commerce platforms offer easy inventory sync, which makes hosting live sales across platforms a seamless process for retailers who can easily keep track of product sales and inventory count regardless of purchase location. This feature highlights a seller’s ability to target different markets on the platforms they prefer while maintaining a streamlined inventory management operation.

  6. Seamless shopping and checkout.
    A key feature for live sales is seamless checkout from within the live stream—the right live selling technology will allow shoppers to click or comment and trigger a purchase on the spot. Applying this revenue-boosting technology to Instagram Live increases efficiency and ease of purchase for shoppers and reduces cart abandonment for sellers.

Building audiences and boosting sales with Instagram Live can help retailers achieve faster results, higher performance, and greater success.

Tips to Creating High-Performing Live Sales on Instagram

What is the best way to go live on Instagram? Here are four compelling tips for promoting live sales hosted on the popular social platform:

  1. Create experiences that build brand awareness.

    Instagram viewers like engaging posts that trigger thumb-stop moments while scrolling. Consider posting a behind-the-scenes look at how products are built, packaged, and shipped—or better yet, show followers what goes on behind the curtain of a live sale to showcase the ins and outs of selling with real time video. This type of post would make a great Instagram Reel or Story.

    Consider using special image compositions, video techniques, or color themes that tell a story so you can begin building brand recognition visually through consistent and thematic posts.

  2. Sell live across multiple channels at once.

    By cross-posting live sales to Facebook, Instagram, your website, or other social media platforms, you are making your brand more visible and accessible. As stated, brands that do best are those that reach their shoppers in more than one place.

  3. Interact with viewers in real time.

    Get to know your audience in an authentic way. A huge appeal to live sale viewers is the unique ability to connect with live sale hosts in the moment. Call out newcomers and welcome them to the live sale. Thank old timers individually for their consistent engagement. Start with an open-ended questions and offer a prize for the first viewer to respond. This interaction will not only create a loyal, intimate customer base but it will also increase organic reach. 

  4. Work with influencers.
    According to Forbes, brands will spend a projected $15 billion on influencer marketing by the end of 2022. Influencers have dedicated, niche followings that take product recommendations from their favorite internet personalities very seriously. Influencers are typically accustomed to hosting live “fit videos” to showcase clothing or unboxing events where products are explored in real time to hundreds and thousands of eyes online.

    This unique skillset pairs perfectly with live video commerce. Viewers that already engage with an influencer’s live streams can now make purchases directly from those live streams. This creates an incredible opportunity for businesses and influencers alike. One Videeo live seller found an 800% increase in sales and a 240% increase in viewership simply by having an influencer host the live sale instead of a staff member.

The Takeaway

Live selling creates an incredible opportunity for retailers across verticals to reach a wider audience segment in a fresh and innovative way. Live video sales are the perfect additional revenue stream because the content integrates seamlessly across platforms—from Facebook and Instagram to a brand’s already existing website.

When live streams reach Instagram specifically, sellers can take advantage of the interactive content Instagram users crave: live video streams provide short, enticing content, they highlight product inventory in a unique and engaging way, and they connect viewers with retailers and brands in a manner static images alone simply cannot provide.

Ready to Stream Live Sales on Instagram and Multiply Your Online Sales?

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