I'll comment on 4 posts instead of 4 replies...
Post# of 32635
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Posted On: 03/10/2023 1:33:09 PM
I'll comment on 4 posts instead of 4 replies...
High qaulity LiveStreaming takes planning, time, money, etc.
Some might try it once to get their feet wet. Others might be a late adopter. Some will hit a homerun first time out. I suspect that is no different than LiveStreaming on any site except Amazon would cost you some real bucks. Maybe not to much different than selling on Ebay, Amazon, etc. Some sign up and doing often. Others for a period of time or just once.
Live streaming is similar to Facebook, Instagram, etc. Just because I create an account and post a pic doesn't mean I'm going to get 1M followers in a week. Each of these platforms take time and effort. Start with maybe 10 viewers. Learn from that. Grow to 40. Learn from that, etc.
I think WhatNot has a large turnover. If you turn in, you can see why. Standing there with a bunch of Pokémon cards and playing music isn't going to sell much.
These large brands usually don't have someone in Marketing that they can put solo on Camera. They spend bucks to hirer presenters/influencer much the same way QVC does it. You just don't go on QVC solo and sell. There is someone with you. Amazon used to insist you hire that person through them and it wasn't cheap. I don't know what they do today. If Corporate BestBuy as an example started streaming on Market, that would conflict with the creator/influencers model as they would be competing against each other.
When I give out a certificate, I let the person know it's a Live shopping site and explain the ins & outs for a few minutes. No different if I didn't give them anything, but told them to check out MARKET. Not too different if I gave someone an online and/or brick & mortar gift card. Depending on how familiar they are already, maybe I don't have to say much or if they are not, hey, you enter the code on check out...
Yup, see shareholder letter
https://ir.verb.tech/company-information/shareholder-letter
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Anyone have thoughts on why some of the live streamers form last year, Wander, Hespera, Doll 10, etc. have not done any this year? How much value do older taped livestreams get watched by new buyers versus an acutal live one towards revenue growth.
High qaulity LiveStreaming takes planning, time, money, etc.
Some might try it once to get their feet wet. Others might be a late adopter. Some will hit a homerun first time out. I suspect that is no different than LiveStreaming on any site except Amazon would cost you some real bucks. Maybe not to much different than selling on Ebay, Amazon, etc. Some sign up and doing often. Others for a period of time or just once.
Live streaming is similar to Facebook, Instagram, etc. Just because I create an account and post a pic doesn't mean I'm going to get 1M followers in a week. Each of these platforms take time and effort. Start with maybe 10 viewers. Learn from that. Grow to 40. Learn from that, etc.
I think WhatNot has a large turnover. If you turn in, you can see why. Standing there with a bunch of Pokémon cards and playing music isn't going to sell much.
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Maybe the new 3rd party influencers are selecting from these prior self live streaming companies products is being seen as a better model. It seems that Target is using that approach but they also never live streamed on Market independedtly in the past.
These large brands usually don't have someone in Marketing that they can put solo on Camera. They spend bucks to hirer presenters/influencer much the same way QVC does it. You just don't go on QVC solo and sell. There is someone with you. Amazon used to insist you hire that person through them and it wasn't cheap. I don't know what they do today. If Corporate BestBuy as an example started streaming on Market, that would conflict with the creator/influencers model as they would be competing against each other.
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I gave several gift certificates over last Christmas and a couple of my family members didn’t really know what they were looking for. When you get on, not knowing it is a livestream shopping site it is not obvious that you should watch some really cool, live streams and make purchases.
When I give out a certificate, I let the person know it's a Live shopping site and explain the ins & outs for a few minutes. No different if I didn't give them anything, but told them to check out MARKET. Not too different if I gave someone an online and/or brick & mortar gift card. Depending on how familiar they are already, maybe I don't have to say much or if they are not, hey, you enter the code on check out...
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I’ve said this before, and I think that Verb needs to spend a little more on advertising their platform.
Yup, see shareholder letter
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But most, if not all of the questions I get from shareholders is about our MARKET.live, livestream social shopping platform. And although launched just 5 months ago, we’ve made enormous strides. Yes - we could be even further along with a greater marketing budget – more on that later – but the platform has evolved rapidly, and as I’ve said before, I firmly believe it represents the biggest value creation opportunity for ourselves and our shareholders going into 2023 and beyond.
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But now, the path forward is crystal clear. With the platform, the talent, the shows, the product inventory, the brands and other components we have now assembled for MARKET.live, we require only one thing - a massive marketing and ad campaign, including television, radio, social media, outdoor media, sponsorships and partnerships, all conceived, coordinated, executed and managed by professionals with proven track records.
Up till now, we have done virtually everything in-house with a limited team on a limited budget, relying almost exclusively on social media advertising. To implement and execute this bold plan will require a substantially larger budget than we currently have access to. And we already know that the state of the capital markets, coupled with our insanely low share price make traditional financings far too costly.
And this is the reason we engaged the strategic advisory firm I mentioned in our November 2022 earnings call. Our plan for Q1 2023 is to finalize the strategic plan we placed into motion last fall that can transform VERB and provide the resources needed to implement a comprehensive ongoing advertising and marketing campaign to create top-of-the-mind awareness for MARKET – accelerating our growth rate exponentially - and upon completion, keep us out and away from the capital markets – far away .
https://ir.verb.tech/company-information/shareholder-letter
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