Let’s first understand a user’s behavior during a TikTok live.
We can see from this chart that we need to improve conversion between each link.
For example, we want to:
- increase the percentage of users clicking into the Live.
- keep the users once they come in.
- produce content of their interest and increase engagement.
The longer they stay in the Live session, the more likely they will buy. It’s the same logics with a department store. Users need to try on and compare prices, before they make the decision to purchase.
These are what we call popularity metrics — how many people see, watch, and interact with your TikTok Live. The other part is called comercial metrics — how many people click on and buy your product.
One of the most important metrics for the algorithm to drive more traffic for you is called GPM —GMV for every 1000 views. In other words:
- GPM = GMV / Watch PV * 1000
- GMV = Gross Merchandise Volume
- Watch PV = Total number of views
We can further break it down:
- GPM = CTR * CO * AOV
- CTR = Click-through rate
- CO = Click to order
- AOV = Average order value = Average unit price * unit per order
A high GPM leads to high revenue. To boost traffic and sales, one of the key steps is to keep your GMV high, which is, improving your CTR, CO, and AOV
Improving CTR
To get people to click on the product, what you sell and what you do during Live need to match.
One way to check the Live performance of the best practitioners , or your competitors, is by examining what they did during their best selling streams and what products they’re selling at that time.
On the Livestream page on kalodata.com, we can learn that information by reviewing their past Live recordings.
Find the streamer of your choice, and check their best selling Live’s Live Trend. We can see at what point they receive a high traffic traction, and what they exactly they did at that time.
We specifically want to learn their presentation Skills — what language they use and what tricks they use to showcase the products. Pay attention to the ASBC framework:
- Appeal: Use questions or customer interaction to introduce a product
- Sales: Use sales as a trust anchor: the product has been tested by numerous users already.
- Benefit: Explain what benefits buyers get from buying from you here at Live. A better price, a limited edition, a free gift, etc.
- Customer: Target specific customers. ASk them questions. Are you an iPhone user or Android user? A cat person or a dog person?
Learn how others do it. Make it sound easy, funny, and engaging.
Improving CO
The same ASBC framework can improve your CO as well. In addition, you can pay attention to the products.
In the same Live detail page, we can find some of the information that we want to monitor:
- Basic element: title, thumbnail image, product detail page (PDP)
- Product value: usually shown in the title as keywords
- Pricing: the price range of the products
Improving AOV
In the same page we can see the average unit price of the products. If that aligns with your own price range, you can see their SKU combinations and try to figure out how to increase the number of units per order with:
- Bundle sales
- Special promotion sales
- Buy-more discounts
Incorporating data-driven strategies is the secret sauce to boosting sales during your TikTok Lives. By leveraging insights from key metrics, such as GMV, you can tailor your approach to maximize conversions. So, dive into the metrics, fine-tune your tactics, and watch your TikTok Live sessions become dynamic sales engines.
Learn more about TikTok ecommerce and kalodata here.
