In the dynamic world of e-commerce, thematic live commerce has emerged as an intriguing option, creating immersive experiences centered around a specific theme while engaging buyers in real-time.

Although individual live streams are gaining popularity worldwide, consumers need a compelling reason to make a purchase. By organizing theme-based events, it becomes easier to target niche markets that may get lost in the crowded online platforms.

Despite its potential, the fragmented market poses obstacles to the growth of thematic live commerce. Drawing inspiration from the progressive ownership model in the crypto industry, as discussed by Li Jin and Jesse Walden in an insightful article published by the Variant Fund earlier this month, there’s a roadmap for platforms like Mela to cultivate strong user loyalty and overcome fragmentation.

The progressive ownership model advocates for a bottom-up approach to token distribution, aligning well with the ethos of thematic live commerce.

This approach focuses on empowering users and linking their interests with the platform’s success, similar to how stock options incentivize employees in startups. So, how can we adapt this model to thematic live commerce to build a more cohesive ecosystem?

A connected commerce community

The success of thematic live commerce relies on a united community comprising brands, influencers, and consumers operating harmoniously. The progressive ownership model suggests incentivizing participation. Consider a live commerce event where each purchase not only benefits the seller’s revenue but also contributes to loyalty points or stakes for the buyer.

It’s a mutual relationship; as the platform grows, the value of each participant’s involvement increases. This shared success could transform first-time buyers into long-term advocates for the platform.

Using economic incentives to drive loyalty

While immediate gains are appealing, the promise of long-term rewards can strengthen bonds. Imagine if viewers and brands could earn progressive ownership stakes in Mela, encouraging them to engage more with the platform’s growth. This approach could shift passive viewers into active participants, with stakeholders promoting the platform extensively.

Avoiding pitfalls in distribution

The pitfalls of short-term speculation, such as airdrops, seen in the crypto space, must be avoided in thematic live commerce. It’s essential to ensure that loyalty and ownership stakes are earned through meaningful engagement like repeat purchases, content creation, or community building. This guards against transient interest and ensures that stakeholders are genuinely committed to the platform’s long-term success.

The importance of organization

While decentralization and distributed ownership are appealing, strong organizational execution is crucial. Thematic live commerce platforms should prioritize product innovation, customer experience, and operational excellence to succeed in the competitive e-commerce landscape.

Rethinking revenue models

In an industry dominated by traditional revenue models, introducing progressive ownership could be a game-changer. For Mela, this shift could involve reimagining revenue streams to include shared ownership, turning revenue sharing into a collaborative partnership that enriches the platform’s ecosystem with every sale.

As thematic live commerce grows, it must focus on solidifying market fit and nurturing its user base for sustainable growth. Prioritizing a strong foundation over rapid expansion reduces the risk of a platform collapsing quickly.

Compliance and evolution

Similar to the challenges faced by the crypto industry, thematic live commerce must navigate regulatory and ethical considerations associated with progressive ownership. Balancing user rewards with compliance ensures that participants benefit from their loyalty without violating complex regulations.

The fragmentation in the live commerce market is a call for innovation. By embracing the principles of progressive ownership, platforms like Mela can establish a community of stakeholders whose fortunes are tied to the platform’s success.

Thematic live commerce doesn’t just sell products; it sells a vision of collective prosperity where every stakeholder shares in the success. As the industry evolves, it must foster loyalty and a sense of shared destiny among participants, not just transactions.

The progressive ownership model isn’t just a roadmap for a more unified market; it’s a manifesto for a future where every participant is an owner, every purchase an allegiance, and every live commerce event a step toward a more interconnected community.

This article was originally published on getmela.live

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This article was first published on December 13, 2023.

The post Cultivating loyalty in live commerce: A lesson in progressive ownership appeared first on e27.