The Power of Financial Advisor Video Marketing

Nearly 65% of people are visual learners, making visually appealing content crucial for service professionals. Financial advisor marketing videos connect with your clients and prospects in an engaging way that is unmatched in digital marketing. In only a few minutes, you can educate and inform clients on industry topics and concepts. Along with being visual learners, people have ever-shortening attention spans, so it is crucial to create compelling content that tells your story in a unique and interesting way. With personal financial planning videos, you can demystify complex financial or insurance topics, and maybe even make them interesting.

How powerful are financial advisor marketing videos for social marketing?

According to a recent report featured by Wyzowl, video is an essential social marketing tool that marketers and online audiences agree is the best way to engage. Here are the three key takeaways:

  • The use of video for marketing continues to increase in both usage and spend, and most marketers plan to increase their use of video in 2021.
  • Prospects consider video to be a critical element in their client journey and they are increasingly demanding the medium from the brands they use.
  • 87% of marketers report that video produces a positive ROI — an increase of over 50% from 2015.

A 2019 survey conducted by CMO Council & Pitney Bowes provides insights on video marketing and consumer behaviors that can help financial advisors meet viewers’ expectations. 

  • 48% of viewers want videos to reflect the specific products and services that interest them.
  • Almost half of consumers want interactive features that give them control over what and when they watch.
  • But personalization, which is so vital in other marketing mediums, isn’t necessary for a positive video user experience. Only 12% of those surveyed reported that video with their name and other personalization influenced their engagement.

With all the emphasis being put on social efforts, wouldn’t you like to see better results from your social media efforts? Financial advisor video marketing could be the answer you’ve been looking for.

Benefits of Video Marketing for Financial Advisors

1. Added Value

The primary reason to invest in financial advisor video marketing is its unmatched ability to communicate complex and high-level concepts in a digestible and straightforward manner. Because video is so easy to understand, many internet users turn to video when they want a better understanding of a concept or service. 

Consider that people online watch over 500 million hours of video every day on YouTube, and you can easily see the power of video. According to Zenith Media, the average person will spend about 100 minutes watching online video per day in 2021, or the equivalent of viewing 25 straight days of video. That’s plenty of opportunities for financial advisors to provide valuable content. 

2. Likeability

With all the talk in the digital marketing world about establishing your authority and building your brand, one of the oldest and most potent forms of marketing gets little press, and that’s likeability. People do business with people they like. Financial advisor marketing videos let financial advisors put their personality front and center to create trust and greater interaction. There’s just something about putting a face to a name that seems to put people at ease.

If you are worried about sending the wrong message or mixed signals via video, we suggest reading The Like Switch. The book contains field-tested and practical information from a CIA interrogator who gets high profile prisoners to like him enough to confess their crimes. You’ll find plenty of useful tips for building rapport and trust.

3. TOMA

We inundate people with an enormous amount of information with a minimal amount of retention. You’re not just competing with other financial advisors online; you’re competing with everything from funny videos to events and news from around the world. Top of mind awareness, or TOMA, is defined in the book Marketing Metrics as, “The first brand that comes to mind when a customer is asked an unprompted question about a category. The percentage of customers for whom a given brand is top of mind can be measured.” Video helps you get that elusive top of mind slot.

4. Increased SEO Benefit

Forrester Research found that your content is 50 times more likely to make it to the first page of Google results if it includes video. The popularity of video means that your viewers will spend more time on your pages with video. This increased time on page is a key factor for page ranking with Google and other search engines.

When viewers spend more time on your page, that tells search engines that you are creating valuable and relevant content for your visitors. In fact, Moz found that incorporating video into a blog post attracts three times as many inbound links than blog posts without video.

5. Better Social Media

You already know how engaging video can be, so it’s no wonder that you’ll get better results when you include video in your social media marketing. After all, social media gets its name because social media platforms are social in nature. Financial advice videos help create that social factor because it lets you engage your viewers with a relaxed and comfortable approach.

Using Financial Advisor Marketing Videos to Build Your Brand

Video marketing for financial services can be done in-house with a small budget and could be a great way to ease into your video content marketing campaign. Smartphones and other affordable video tools can produce entry–level video (think financial planning on YouTube) and help you learn the ropes. Even if you farm out your video production to freelancers or agencies, the cost can be well worth the investment.

FMG Suite is a big believer in the power of video. In the video below, we explain our process for creating our award-winning videos.

While we have a sizable team behind our video productions, our strategies can inspire and guide you as you embark on your video creation efforts. An even easier way to get started with videos for financial advisors is to take advantage of FMG Suite’s content library. When you use our website platform, you have free access to hundreds of financial videos that you can share via email, social media, and on your site.

Video Marketing for Financial Advisors on a Budget

Put Your Smartphone to Work

Just like with social media efforts, producing short, engaging video using a smartphone won’t be seen as amateurish but as a signal that you are tech savvy and understand how your potential clients prefer to be engaged. With a little practice, you’ll come across as a genuine person while you build your authority. Here are some tips from Loyola University’s Office of Marketing and Communications:

  • Enhanced audio using an external microphone is an easy way to improve the quality of marketing videos whether you’re using iOS or Android. 
  • Give video viewers the familiar framing they are used to. When you’re filming yourself, your head and upper torso need to fill most of the frame.
  • Don’t film against a window or light-colored wall. Instead, use interesting backgrounds that add an appealing element without distracting from the message.

Rent Equipment

If you’re serious about creating high-quality video, rent video equipment instead of buying it. It’s much less expensive, and you don’t have to worry about upgrading your equipment when the newer video technology rolls out. Most video professionals that rent equipment will be happy to answer questions and steer you in the right direction.

Live Video Streaming

Using the camera on your smartphone or computer and a live streaming service like Facebook Live, you can create financial advisor marketing videos to share with your social media followers. There are no do-overs or rewind buttons, so be sure to consult your broker-dealer to ensure you’re compliant. Practice with some offline productions until you feel comfortable. You want to come across as a professional, but you also want that genuineness that your prospects demand.

Whiteboard Videos

Sometimes called “explainer videos” or simply motion graphics, whiteboard videos are those animated videos that are becoming more popular. Ninety-four percent of people report watching explainer videos to learn more about a product, and 84% report whiteboard videos enticed them to buy. These explainer videos are less expensive than live–action video, and they have been proven to be very effective regarding attention spans and retention. You’ll easily find a variety of options online to help you get started, like Sparkol and Powtoon. 

 

We can’t argue enough for video because it’s transformed our business, and it’s a marketing tool that produces some incredible results for financial advisors. We hope this article has convinced you of the power of financial advisor marketing videos and inspired you to create a video marketing strategy.

Whether you take advantage of our high-quality video content, use our custom video production service, or produce your video, we think you will be amazed at how video can help you grow your business.