How financial advisors can incorporate video into their marketing strategy
FFinancial advisors need to adapt their marketing strategy to meet prospects on the platforms they use and in the medium they prefer. With consumer video consumption steadily increasing, marketing videos will increasingly become a mainstay for financial advisors. Wyzowl reports that the number of the number of companies using video as a marketing tool has increased by 41% since 2016which is a response to average person consuming more than 100 minutes of online video every day.
Video is a versatile medium that financial advisors should embrace as it can be used on all platforms, such as on a website, social media or email, and it ensures that they connect with their target audience d in a way that resonates with consumer behavior.
Types of Marketing Videos for Financial Advisors
About Us Videos
Creating an “About Us” video is a great way to introduce your business and provide information about what you can offer. Be sure to include your professional background, how and who you serve, your goals and contact details.
As reported by Wyzowl, 94% of video marketers say video has helped improve users’ understanding of their product or service, and 69% of consumers say they would rather watch a short video to learn more about a product or service than reading an article, viewing an infographic, or downloading an e-book. An “About Us” video is a versatile asset that works well on all platforms to help you showcase your business, build your brand, and grow your business.
Testimonial videos are a great way to not only secure relationships with new customers, but also retarget users you haven’t converted yet. The Securities and Exchange Commission recently adopted new marketing rules for financial advisers, that now allow advisors to collect and use client testimonials and referrals. Testimonial videos are a great resource for gaining trust, building credibility, and converting new customers. You can use current customer success stories to increase your reliability; you’ll want customers to share genuine sentiment and results in an unbiased, unbiased way. These types of videos allow prospects to relate to customer journeys and better understand the impact of your services on them, and better yet, 2 out of 3 people say they would be more likely to make a purchase after watching a testimonial video.
Webinars are a versatile form of video because they can be streamed live, shared after recording, and cut into new formats for short, engaging sound bites. These forms of videos allow you to attract leads, share your brand and thought leadership, and easily track attendees.
You can stream live webinars on various platforms like Zoom, Facebook, or YouTube; your target audience will help you determine which platform is best for you. After recording, you can embed the video into your website, include it in marketing emails to attract new leads, and share it on social media for customers who weren’t able to attend.
Apply good marketing practices
Video is a great addition to any financial advisor’s marketing strategy, but you’ll still need to apply marketing best practices to reap the benefits. You will need to measure the performance of your videos across all channels: impressions, view rate, click-through rate and share statistics. Tracking these performance metrics will help you refine your video strategy and identify which platforms, messaging, and duration work best for your target audience. As you analyze your video data, you may be able to segment your audience to target different formats and distribution methods to better nurture and convert leads.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.