2020 WECHAT LUXURY INDEX: HOW CAN BRANDS BEST LEVERAGE SOCIAL SELLING AND LIVESTREAMING
While content-focused marketing strategies on WeChat – China’s most ubiquitous social platform – were previously sufficient in helping brands to engage with consumers, new digital marketing tactics like social selling and livestreaming are gaining more traction, particularly in the wake of the global pandemic. Our latest WeChat Luxury Index explores how brands can adapt to the new models and meet China’s ever-evolving consumer expectations.
The impact of COVID-19
As retail begins to rebound in China and offline traffic slowly approaches pre-pandemic levels, seizing the opportunity to engage further with its consumers – who are spending even more time online and on social media – is becoming even more important for brands.
This is made that much harder when community growth on WeChat is slowing, according to the latest report by DLG (Digital Luxury Group) and JINGdigital which found that while growth on large WeChat accounts (averaging more than 100,000 followers) was at 18 per cent in the first half of 2019, these brands only saw their follower bases increase by 12 per cent over the same period this year.
At the same time, the average engagement per WeChat push is decreasing, having fallen from 10.45 per cent (January to December 2019) to 6.59 per cent in the first half of 2020. Brands that have been benchmarking their WeChat performance against engagement or community growth might find themselves hitting a plateau – but significant opportunities remain on WeChat as the platform continues to evolve. How can they tap into this?
How brands have been adapting
One tactic that brands are increasingly employing over the past few months is livestreaming. Long regarded as an effective strategy to drive exposure and engagement, livestreaming is now also viewed as a strong conversion tool given the growing number of platforms offering e-commerce integration.
In addition, the report also shed further light on how brands can scale up their social selling efforts with the help of WeChat Work. Making sure that sales associates stay in touch personally with consumers via social tools has become an important sales tactic as the pandemic continues to impact offline foot traffic.
Find out which brands are winning
So how can brands ride the momentum and fine-tune their digital strategies in China? The latest WeChat Luxury Index report from DLG and JINGdigital examines the performance of luxury brands on WeChat and the opportunities that come with livestreaming and social selling within this ecosystem.
For more insights and data on follower acquisition, engagement and content, as well as case studies and analytical frameworks on livestreaming and social selling, watch a replay of the WeChat Luxury Index (Jan-Jun 2020)’s livestreamed launch or download the full report below.
Download the free report