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During my 10 years at Symmetry Partners, LLC, I’ve watched the growth of online video. In response, financial advisors have created new and innovative ways to make video content a useful part of their marketing strategies.
I will present several studies that explain the broad increase in online video usage, along with “how-to” instructions.
As my firm’s video producer and editor, I’ve long been familiar with the hesitation some advisors have around video. They’ve been puzzled by how and where to host content. They’ve even been overwhelmed by the technical aspects of recording video.
But over the last few years, I’ve seen a general increase in requests from advisors for custom video content. Failing to develop a substantial online presence will be costly. These trends have prompted advisors to set aside their doubts and create videos for professional use – in the hopes of connecting with potential clients.
Video is one of the predominant ways to communicate online. According to a study conducted by Wistia, a prominent video hosting service, over 42 million videos were uploaded to the platform from 2019-2021. And two-thirds of its customers planned to create video content on either a monthly or weekly basis. If nothing else, this indicates a steady escalation of video use. The use of online video has transitioned from a “nice component” of a strategy to an essential piece of the marketing mix.
Advisors can leverage videos by adding them to emails and social media. By doing this, they stand a better chance of attracting the “clicks” from prospects and explaining complex financial concepts to new clients. Over 70% of sales professionals reported that custom-recorded videos performed better at producing opens, clicks and responses than text-based emails. In addition, over half of all sales professionals who use custom video reported that it increased their close rates. This value is critical to those financial advisors who may be looking for effective ways to find and retain new clients.
It can also be beneficial for advisors to display an introductory video that establishes their value proposition. In fact, 98% of investors said a website is somewhat or very important when choosing an advisor. A well-executed video (or two) generates a more compelling first impression. While the initial prospect of creating a video may seem intimidating, it’s not nearly as complicated as you may assume. For example, you can use the record feature on Zoom and read a script right off your computer screen. Your iPhone or iPad has everything you need to record a video. Alternatively, you can turn to any number of online freelance services to create something unique and distinctive.
Online video can be used to explain nuanced financial concepts. These pieces are known as “explainer videos.” The production of these videos may require outsourcing. But the result will yield a shareable piece of content that you can use for years to come. It is also possible to record a prepared slide presentation within Microsoft PowerPoint. For the right subject matter – presented engagingly – this can be a cheap and effective solution.
Now that you’ve completed your own video, how do you host and share it?
Assuming that your goal is to readily distribute your content at no cost, YouTube is an excellent option. In addition to being the second most popular search engine in the world (just behind Google), YouTube offers all the necessary tools you need to post your video on social media, share it via e-mail and add it to your website. YouTube offers a robust suite of analytics. The data provided will help you monitor the size, and interest, of your audience. There are also paid hosting services available. These platforms can supply collaborative tools, and direct support services, to your team. Vimeo and Wistia excel here for these exact reasons. But YouTube should be sufficient for most advisors.
While videos may seem costly or time consuming (depending on the type of videos you’re developing), many advisors have found the benefits far outweigh the challenges. When performing at its peak utility, online video; a) expands the reach of your brand to online video searches; b) enhances your website’s search engine optimization; and c) increases the engagement of e-mail recipients.
Should you choose to create online videos as part of a larger content strategy, they will enrich the high-quality client experience you endeavor to provide.
Kevin Pallotti is the video producer for Symmetry Marketing Group, which provides customized marketing services to help Financial Advisors communicate their value, grow their businesses, and deliver better client experiences. You can learn more at symmetrymarketinggroup.com.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
