Although there are few if any retail businesses that can compete with Amazon, I believe social media is the great equalizer of the retail playing field. Would you be surprised to learn that my jewelry store has done $100,000 during an hour live event on social media? Yes, I wrote that correctly: one hour, $100,000. It’s true!
Let’s take a look at livestreaming, whether that’s Facebook Live, Instagram Live, or YouTube Live. Technology now allows you to do your own broadcasting, so you can place yourself personally in front of those people who know you best, like you, and certainly trust you. It’s pretty cool that each of us carries the ability to livestream right in our pockets. You’re actually carrying a mobile TV studio in your smartphone, so I want you to pull that out and get comfortable using this platform.
Don’t worry that you have to be like Alex Trebek or your favorite evening newscaster. You do not have to be perfect. Your customers aren’t looking for that. They’re actually looking for you – the one they know, like and trust. They love you just as you are, so don’t be afraid to simply be yourself during a livestream. You’re not afraid to be yourself when they walk into your store, so this is quite similar, if not identical.
Remember when home shopping networks evolved and became wildly popular (and some still are)? Well, now technology allows you to develop and host your own home shopping show. I want you to decide to have your own show on Facebook Live. Some livestreaming entrepreneurs simultaneously broadcast on Facebook Live and Instagram Live. Some use YouTube. We’ve done this and had great success.
(Remember – 1 hour = $100,000.) Now our customers actually look forward to our shows. In fact, we have some folks who actually walk into the store and ask about when the next livestream show will be on Facebook! Is that crazy or what? They’re actually in the store in person and want to know when they can watch online!
In our livestream shows, we’ve featured certain jewelry lines and summer or seasonal clearances. Our livestreams kept our “doors” open during the pandemic shutdown. The brick-and-mortar front door was locked, but the door to our online sales was wide open, and our shows really boosted revenue and profits. In our shows, we sell about 30 to 35 items and that lasts about an hour. If you need a tutorial, simply tune into to HSN or QVC during their jewelry sales to see how they go about it. Then use your own style and personality to stage your own event online.
Get comfortable being in front of your camera and on video. You’re a salesperson anyway, so simply consider the camera as a customer walking into your store. It’s really no big deal. And as you build your social media presence, that will drive your online marketing that in turn drives sales and profits, you’ll discover that this opens another revenue stream for your store.
It’s been our experience that our online shows do not detract from brick-and-mortar sales. They are, in fact, a new revenue stream. I believe the same will happen for you, and the sales you generate will supplement and augment what you’re already doing.
Why do I make this assertion? Once again, friend, it’s because of Amazon. There are people who want to sit in the comfort of their own home and purchase online. It doesn’t mean they don’t like you. They simply prefer to shop from home. I assure you, since the pandemic, that number has increased. During the lockdown, buying online became a necessity and actually became normal for many people who’d never done it before. Of course, not everyone feels that way, but you must develop ways to serve every customer, including those who will always shop online. If you don’t, your competitors will, meaning you’ll lose sales and revenue.
You must take time to start developing your social media platform (including livestreaming) if you haven’t done so already. And you must turn that social media platform into your next selling vehicle. For now, selling via livestream is done through the likes of Facebook Live, Instagram Live, and YouTube Live. However, technology is moving toward enabling livestreaming from other places, including from your very own website. Now is actually the time to have a conversation with your webmaster or web developer about this possibility. During the development phase of hosting shows on your own website, continue to use the social media livestreaming platforms to drive traffic to your site.
This isn’t far-fetched. It’s actually happening as I write this.
This is an excerpt from “Diamond” Bill’s new best selling book, “The Ultimate Jeweler’s Success Guide” available on Amazon or www.diamondbillmarketing.com.
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