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Good afternoon everyone. Do you know 90% of Hong Kong citizens own a smartphone and the average Hong Kong citizen spends at least 6 hours of their waking hours on the Internet? In fact, the figures are not surprising. You can see from our classroom, you all have at least 2 gadgets on the table. So today we are going to tell you how to get rich with your gadgets. Exciting right? So I am Simon, together with me are Aby, Alice, David, Frankie, Kelly and Will. We are Group 5 and we are going to Introduce you with our business discovery, live commerce. Live commerce combines instant purchasing of a featured product and audience participation through a chat function or reaction buttons. I could see the question marks on your face. It makes sense, let me show a short clip. The girl on the screen is the host, she is in her home, selling the product to the audience. The video quality isn’t good cuz it was taken with her phone. But anyway, if you would like to buy the product, you can just click the order button, and done. The host can earn $$ and you can get the product. After watching this clip, I guess you have a brief idea of what is a live commerce? Do you want to join it now? Don’t tell me now, give us 20 minutes and allow us to spend some time to share more about it. Maybe you will change your thought later! NEXT NEXT NEXT To recap, live commerce has just reached 400 billion sales in China this year, and the figures are still increasing. With many merchants tapping into this market, are you wondering how a business can stand out from the crowd? In the last of 4Ps of marketing, we have promotion. We will be focusing on how a business can increase its conversion rate with promotion. Before introducing the promotion strategy, I would like to walk you through on how to create web traffic. Currently, we are living in the digital age, where big data plays a vital role in our life. Live commerce is no exception. It takes all sorts of quantitative figures to measure the performance of a business. So what kind of KPIs will be taken into consideration? Introducing you with ARA: activity, retention, and attraction. Let’s start with activity. This is the interface for a live on TikTok. As you can see, there are chat functions and reaction buttons. They represent the audience engagement level in the live. The more reactions you receive, the more engaged your audience is. Secondly, we have retention. A well-done live commerce should be able to keep the audience staying in your live. For instance, if you’re getting audience retention above 70% in the first 30 seconds, then you’ve got your hook on the live and you’re doing a good job. It also applies to real-time presentation, Btw, thanks for staying awake. Lastly, we have attraction. As Alice mentioned, it’s a unique feature of live commerce. The more gifts and rewards received from the audience, the more likeable your life is. So if you have a good ARA, the platform metric will pull in more traffic to your live, and possibly result in a higher conversion rate. Arriving at this point, you may wonder how to achieve a high ARA. It’s the key to get rich! So listen carefully! Imagine if you were a buyer, searching for some goods, and you could see two different people selling different products. Which one will you click into? Someone would choose a fancy product, but I also believe that some of you would pick the celebrity. Unlike traditional business, the core part is no longer the product only, it is also about having fun, and let customers to fully immerse themselves into your live. So, it is about integrating customer experience (CX) into your promotion. For instance, it is very common to see KOL or KOC hosting a live on Taobao Live. They have experience in content creation and generally have a solid fan base. By hiring them as your business partners, your business can surely kick off the ARA with audience. Another alternative would be hiring a dedicated in-house team to plan and develop content for livestreams, including storylines, scripts and hosts. At the end of the day, the promotion strategy is to telescope customer decision journey from awareness to purchase. By taking ARA into consideration, your business would become more fun and more interactive. and the data-driven platform will thus pull in web traffic to you. At the end, there will be a higher conversion rate. Good afternoon everyone. Do you know 90% of Hong Kong citizens own a smartphone and the average Hong Kong citizen spends at least 6 hours of their waking hours on the Internet? In fact, the figures are not surprising. You can see from our classroom, you all have at least 2 gadgets on the table. So today we are going to tell you how to get rich with your gadgets. Exciting right? So I am Simon, together with me are Aby, Alice, David, Frankie, Kelly and Will. We are Group 5 and we are going to Introduce you with our business discovery, live commerce. Live commerce combines instant purchasing of a featured product and audience participation through a chat function or reaction buttons. I could see the question marks on your face. It makes sense, let me show a short clip. The girl on the screen is the host, she is in her home, selling the product to the audience. The video quality isn’t good cuz it was taken with her phone. But anyway, if you would like to buy the product, you can just click the order button, and done. The host can earn $$ and you can get the product. After watching this clip, I guess you have a brief idea of what is a live commerce? Do you want to join it now? Don’t tell me now, give us 20 minutes and allow us to spend some time to share more about it. Maybe you will change your thought later! NEXT NEXT NEXT To recap, live commerce has just reached 400 billion sales in China this year, and the figures are still increasing. With many merchants tapping into this market, are you wondering how a business can stand out from the crowd? In the last of 4Ps of marketing, we have promotion. We will be focusing on how a business can increase its conversion rate with promotion. Before introducing the promotion strategy, I would like to walk you through on how to create web traffic. Currently, we are living in the digital age, where big data plays a vital role in our life. Live commerce is no exception. It takes all sorts of quantitative figures to measure the performance of a business. So what kind of KPIs will be taken into consideration? Introducing you with ARA: activity, retention, and attraction. Let’s start with activity. This is the interface for a live on TikTok. As you can see, there are chat functions and reaction buttons. They represent the audience engagement level in the live. The more reactions you receive, the more engaged your audience is. Secondly, we have retention. A well-done live commerce should be able to keep the audience staying in your live. For instance, if you’re getting audience retention above 70% in the first 30 seconds, then you’ve got your hook on the live and you’re doing a good job. It also applies to real-time presentation, Btw, thanks for staying awake. Lastly, we have attraction. As Alice mentioned, it’s a unique feature of live commerce. The more gifts and rewards received from the audience, the more likeable your life is. So if you have a good ARA, the platform metric will pull in more traffic to your live, and possibly result in a higher conversion rate. Arriving at this point, you may wonder how to achieve a high ARA. It’s the key to get rich! So listen carefully! Imagine if you were a buyer, searching for some goods, and you could see two different people selling different products. Which one will you click into? Someone would choose a fancy product, but I also believe that some of you would pick the celebrity. Unlike traditional business, the core part is no longer the product only, it is also about having fun, and let customers to fully immerse themselves into your live. So, it is about integrating customer experience (CX) into your promotion. For instance, it is very common to see KOL or KOC hosting a live on Taobao Live. They have experience in content creation and generally have a solid fan base. By hiring them as your business partners, your business can surely kick off the ARA with audience. Another alternative would be hiring a dedicated in-house team to plan and develop content for livestreams, including storylines, scripts and hosts. At the end of the day, the promotion strategy is to telescope customer decision journey from awareness to purchase. By taking ARA into consideration, your business would become more fun and more interactive. and the data-driven platform will thus pull in web traffic to you. At the end, there will be a higher conversion rate.