What strategies can be used to increase online sales?

"Offering exclusive deals and promotions can encourage shoppers to 'open their wallets' while watching livestreams. Brands should prioritize developing engaging and interactive content to attract and retain viewers throughout the session."

What can we see behind the 75 billion VND livestream?

Recently, a TikTok livestream in Vietnam generated a record-breaking revenue of 75 billion VND. Based on this case, experts have commented on the growing trend of livestreaming in Vietnam.

From a digital marketing perspective, Dr. Alrence Halibas, Senior Lecturer in Digital Marketing at RMIT University Vietnam, believes the success of this livestream was due to targeting the right customers, using the right channel, delivering the right message, and choosing the right timing.

Dr. Halibas stated: " The right customer means that TikToker Quyen Leo Daily has effectively targeted his audience by consistently creating content that is relevant to individuals who value family, have stable incomes, and possess significant purchasing power."

Meanwhile, using the right channel is crucial, given that there are nearly 50 million TikTok users in Vietnam, making TikTok an ideal platform for this livestream. Dr. Halibas added that using TikTok's livestreaming feature has helped the channel owner reach a large audience and leverage the platform's interactive and engaging nature to boost sales.

In terms of messaging , pre-livestream promotion plays a crucial role in creating anticipation and excitement for viewers. "By leveraging popular influencers and showcasing exclusive offers, the channel owner affirmed the value of watching the livestream. During the livestream, they continued to convey the right message by offering extremely attractive deals."

Dr. Halibas stated, "This approach perfectly aligns with the preferences of Vietnamese consumers, who are known to be price-sensitive and value-conscious."

Ms. Halibas further explained the importance of timing . The livestream sessions are scheduled to coincide with promotional activities on TikTok Shop and on special dates such as February 2nd, March 3rd, or April 4th.

"This strategic timing leveraged consumer behavior patterns and the habit of checking for promotions during specific time slots. Additionally, the 13-hour duration of the livestream ensured ample opportunities for interaction and sales."

Meanwhile, Dr. Jasper Teow, a lecturer in Digital Marketing at RMIT University Vietnam, provided an analysis based on consumer behavior. He emphasized three fundamental factors : trust, scarcity, and the potential for popularity.

Dr. Teow stated, "The foundation for this successful livestream was built long before the event took place." It began with the channel owner creating consistent, understandable, and authentic content, fostering a sense of connection and trust among viewers. He explained, "This trust made viewers more receptive to product recommendations and discounts during the livestream, thereby increasing their purchase intent."

Furthermore, the livestream successfully employed scarcity tactics in terms of time ("limited-time exclusive discounts") and quantity ("while supplies last"), creating a sense of urgency or fear of missing out (FOMO) in buyers. Dr. Teow emphasized: "This leads consumers to adopt a 'buy now, think later' mindset, making them prone to impulsive and immediate purchases."

In traditional markets, these aggressive sales tactics and marketing strategies can be perceived as annoying, pushy, or stressful. This is not the case with the nature of livestreaming. Dr. Teow points out that the popularity and "star power" of influencers and KOLs cannot be underestimated, as their followers empower them with likes and comments.

According to Dr. Teow: "Overall, this dynamic interaction with viewers generated positive sales momentum, contributing to record sales revenue."

Từ phiên livestream đạt 75 tỉ đồng: Áp dụng gì để tăng doanh số bán trực tuyến?- Ảnh 1. — Dr. Jasper Teow and Dr. Alrence Halibas (right)

What strategies can brands implement to increase online sales?

Dr. Alrence Halibas suggests that a strategy for brands is to invest in influencer marketing to expand reach and increase engagement.

Agreeing with this viewpoint, Dr. Jasper Teow also emphasized the importance of influencer marketing. According to him, brands should ensure that the content creators they choose are the right "face" of the brand.

Dr. Halibas stated: "Ideally, these should be influencers who offer authentic, compelling stories to engage their followers and can speak about the product or product category with genuine passion and/or expertise on the subject. Combining prior influence with consumer psychology tactics will significantly increase the chances of successful online sales campaigns."

Halibas explained: "Similarly, it's important to create anticipation through pre-event advertising to spark excitement and build expectation among viewers."

Furthermore, they can leverage consumer psychology, such as FOMO, to encourage viewers to take immediate action.

Will another record be set?

Dr. Halibas predicted that this record could be broken in the future. That livestream also marked the initial success of the viral livestreaming trend in Vietnam.

According to Dr. Halibas: "With the continuous development of digital platforms and changing consumer behavior toward online shopping and entertainment, many brands and influencers can use livestreaming to effectively connect with viewers and increase sales."

Dr. Teow predicts new records based on the growing popularity of livestreaming and influencer use in Vietnam.

He also noted that: "Followers/fans/friends/family of various influencers will want to see their favorites achieve success. This can lead to a 'race' between influencer communities and increasingly higher sales records."

However, as competition intensifies, businesses need to be aware that if livestreaming becomes too saturated, it can easily lead to consumer fatigue. Dr. Teow concludes: "Brands will have to come up with more innovative and creative methods to maintain buyer interest and engagement on livestreaming channels."

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