The influencer economy is booming, and it doesn’t look like it’s going to slow down any time soon. With more and more people turning to influencers for product recommendations, the potential for revenue generation is huge.
The CreatorWorld summit, held in Singapore as part of the Singapore Media Festival, focused on live selling as a potential revenue driver for influencers. Representatives of big tech companies were quick to point out that live selling is already an established phenomenon in Asia, where consumers are familiar with influencers hosting product showcases and allowing customers to buy products from retailers in real-time.
Live selling, also known as live streaming, involves influencers presenting and showcasing products live to their audience. This allows viewers to make purchases in real-time from retailers through the influencer’s channel.
Big Tech representatives have pointed out that live selling has already become quite popular in Asia. Notable examples include Taiwanese influencer team Mr and Mrs Gao, who celebrated reaching 5 million subscribers by live streaming five different versions of a T-shirt – to the tune of 90,000 people.
As influencers increasingly look for ways to diversify their revenue streams and brands continue to seek influencer partnerships to push products and services, live selling could be the next big thing in influencer marketing. Live streaming has already proven to be an effective marketing strategy in Asia, and influencers can use it to monetize their channels while providing a unique and entertaining experience for viewers.