5 KPIs Every Marketer Must Know: How to Best Measure Live Commerce Success
5 KPIs Every Marketer Must Know: How to Best Measure Live Commerce Success
In an era where Live streaming has become one of the most vital revenue generators for e commerce live, success isn't just measured by viewership or shares. The key lies in measuring the right metrics to understand if your strategy is actually driving sales and where you need to improve. This article will dive into 5 essential KPIs (Key Performance Indicators) that every marketer and business owner must focus on to transform their live sessions into a sustainable sales machine.
Why Measuring Live Commerce is More Important Than You Think
Doing live sales without clear measurement is like driving without a map—you'll never know if you're headed in the right direction. Using the right KPIs gives you a clear overview of your results, allowing you to make precise and timely strategic adjustments. This is especially crucial when using influencer marketing or kol marketing, as measurement helps you clearly evaluate your return on investment.
5 KPIs Every Marketer Needs to Focus on for Live Commerce
Measuring your Live Stream has many dimensions; it's not just about the sales at the end. It also includes other indicators that reflect the live session's overall effectiveness.
1. Live Sales
• What it is: The total number of sales generated during the live stream.
• Why it's important: This is the most direct indicator of a live session's success. If sales are below your target, you may need to reconsider other factors like promotions, content, or the host's performance.
2. Purchase Rate
• What it is: The ratio of viewers who made a purchase compared to the total number of live viewers.
• Why it's important: This KPI tells you how well your content and strategy convinced viewers to make a purchase. For example, if your live shopee session has tens of thousands of viewers but only a few dozen sales, you need to improve your presentation or make your promotions more appealing.
3. Average Order Value (AOV)
• What it is: The average value of a single customer's purchase during the live session.
• Why it's important: Increasing AOV means boosting sales without acquiring new customers. Creating promotions that encourage customers to buy multiple items, such as product bundles or "buy two, get 10% off" deals, can effectively increase your AOV and measure the success of your upsell and cross-sell strategies.
4. Engagement Rate
• What it is: The percentage of viewers who comment, like, or share the live stream.
• Why it's important: This KPI reflects audience participation. High engagement indicates that your live session is captivating and effectively building rapport with customers. Higher engagement is also a strong predictor of increased sales.
5. Peak Concurrent Viewers
• What it is: The maximum number of viewers watching the live stream at the same time.
• Why it's important: This KPI helps identify which time slots have the highest viewer interest, which is crucial for planning future live sessions to coincide with peak audience availability.
KPIs to Track When Using KOLs and Influencers
Using influencers or KOLs for your live sales is a highly popular strategy because it can quickly reach new customer segments. To measure the success of using a KOL or an influencer, you should track these additional KPIs:
• Reach: The total number of people who saw the live session, reflecting the reach of your kol influencer.
• Engagement by KOL: Measures the specific engagement generated from the KOL's live session.
• Traffic from KOL: Measures the number of people who clicked from the KOL's live session to your product page.
• Sales from KOL: Measures the sales generated from the KOL's live session to evaluate the ROI of your kol marketing.
Conclusion: Using KPIs is the Key to Live Commerce Success
No matter which platform you use for your live tiktok or live shopee sessions, proper measurement will help you avoid wasting time and resources. It also empowers you to effectively improve your sales strategy.
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