Connecting brands with customers on live video for the ideal shopping experience – Merilee Kern

Even in a world where stunning technological advancements abound almost daily, it’s not often that some have a genuine opportunity to revolutionise an entire industry – let alone one generating annual revenues to the tune of trillions of dollars. While it’s exceedingly difficult and rare, it’s not impossible.

The profound impact that live, in-person online video is poised to have on the global e-retail trade has been estimated by some to grow to a staggering US$ 5.4 trillion in 2022.

One player pioneering B2B software solutions in the space – Getbee – has achieved a stratospheric start. It is already working with world-class brands such as Dolce & Gabbana, Lancôme, Microsoft, Dermalogica and others throughout the US, Latin America, Europe and MENA. Getbee’s proprietary, live, online video technology connects brands to their  customers using live video consultations for a ‘humanised’ shopping experience.

This human to human capability is ushering in a new market standard and driving the overarching relational economy by combining the simplicity of a call with the power of e-commerce. Sales experts are empowered to engage directly with online consumers now, the way they would do in a physical store.

They can share product recommendations, render opinions, answer direct questions and even complete a purchase – all using live video.

This novel online retail approach is already showing unprecedented results with some early metrics showing a 50 percent conversion rate, +60 percent average basket value and a staggering 97 percent boost in customer loyalty.

Stronger relationships directly correlate to increased customer lifetime value.

Getbee’s software is also integrated with leading technology partners such as Shopify, Magento, Salesforce and BigCommerce. The award-winning startup has also been recognised by the likes of Microsoft GrowthX and Expo 2020 (the World Expo).

Further illustrating high expectations and optimism for Getbee’s first to market solution, the retailer recently announced that it had raised US$ 1.8 million in the first round, pre-series A funding.

It was a significantly oversubscribed round that boasted a distinctive mix of major technology investors such as Altitude Capital, B&Y Venture Partners, DAI and +VC, as well as several strategic angels including Magnus Olsson (who recently had an exit from Uber for US$ 3.3 billion).

And as a woman founded and operated entrepreneurial business, this funding round is still more impressive considering that less than two percent of venture capital goes to female founders.

The need, utility and demand for live e-retail video is undeniable, and Getbee’s software solution is aptly addressing these requirements. Today, there is a glaring disconnect as online shoppers don’t enjoy the same levels of personal attention and overall service as they do when frequenting offline brick and mortar stores.

This is especially true for segments that have a consultative sales process or offer high value items such as luxury, furniture, mobility, wellness and much more for which this software is ideally suited. Getbee readily solves this problem.

“Throughout history, commerce has always been about people buying from people,” notes Founder and CEO of Getbee Thea Myhrvold.

She explains: “Our live video technology is ushering in this personalised and attentive experience into the digital era in an easily deployable, highly accessible and entirely scalable way for online retailers. Our vision is to transform the way billions of people buy and sell online – including minimising web store and cart abandonment, bolstering transaction completion, and generally heightening customer satisfaction and brand loyalty.”

The benefits of humanising the online sales process with live, in-person video interactions akin to a physical store are many. These retailer branded experiences, which are all maintaining the business’ visual identity, look and feel, instantly connect consumers with star sales experts who become available with a simple click.

Through the simplicity of a call – and in combination with the power of e-commerce – team members can seamlessly drive sales, create and manage shopping carts, and complete purchases.

The retailer also enjoys access to real-time business insights and full data at scale relative to the performance of its team from usage to conversion, and increased revenue opportunities.

“Think about the last time you bought something online… any purchase where the customer gets to talk to a real person on the front line. That’s where value is created or amplified for brands,” says Getbee’s Head of Sales Izabella Naessa. She adds: “It’s exciting to see how this creates value across segments and verticals.”

Relative to the recent round of funding, Getbee will leverage that capital to accelerate its market adoption with leading retail brands.

“The trillion dollar e-commerce and retail industries need to find new ways to connect, engage and convert their customers while consumers are looking for a different kind of shopping experience that is both virtual and more personalised,” says Founder and Mana­ging Partner of B&Y Venture Partners Ghaith Yafi.

He explains: “With Getbee, we are backing a high calibre team that’s led by an exceptional and passionate founder. Getbee is ideally positioned to capitalise on these growing trends.”

The COVID-19 pandemic has greatly accelerated growth of the online retail industry and brands are veritably scrambling for ways to capture, keep and convert customer attention.

Maximising the potential for interpersonal human to human connections by breaking through the digital divide using live online video is a magnificent – and perhaps maximal – means to the relational economy end.