Financial advisors need to tailor their marketing strategy to meet prospects on the platforms that they utilize and the medium that they prefer. With consumer video consumption ever increasing, marketing videos will become more of a mainstay for financial advisors. Wyzowl reports that the number of businesses using video as a marketing tool has increased by 41% since 2016, which is a response to the average person consuming over 100 minutes of online video each day.
Video is a versatile medium that financial advisors ought to adopt as it can be used across platforms, like on a website, social media or email, and it ensures that they’re connecting with their target audience in a way that resonates with consumer behavior.
Related: Top 10 Marketing Trends for Financial Advisors in 2022
Types of marketing videos for financial advisors
About Us Videos
Creating an “About Us” video is a great way to introduce your firm and provide information about what you can deliver. Be sure to include your career background, how and who you serve, your goals, and your contact information.
As reported by Wyzowl, 94% of video marketers report that video has helped increase user understanding of their product or service, and 69% of consumers say they’d prefer watching a short video to learn more about a product or service rather than read an article, view an infographic, or download an e-book. An “About Us” video is a versatile asset that works well across platforms to help you introduce your firm, build your brand, and grow your business.
Testimonial videos are a great way to not only secure relationships with new clients but also retarget users who you have not converted yet. The Securities and Exchange Commission recently adopted new marketing rules for financial advisors, which now allow advisors to collect and utilize client testimonials and endorsements. Testimonial videos are a great resource to win trust, boost credibility, and convert new clients. You can utilize the success stories of current clients to increase your trustworthiness; you’ll want clients to share genuine sentiment and outcomes in an unbiased, impartial way. These types of videos allow prospects to relate to clients’ journeys and better understand how your services will impact them, and better yet, 2 out of 3 people say they’d be more likely to make a purchase after watching a testimonial video.
Webinars are a versatile form of video as they can be broadcast live, shared post-recording, and cut into new formats for short, enticing sound bites. These forms of videos allow you to attract prospects, share your brand and thought leadership, and easily follow-up with attendees.
You can broadcast webinars live on various platforms like Zoom, Facebook, or YouTube; your target audience will help determine which platform is best for you to use. After the recording, you can embed the video into your website, include it in marketing emails to entice new prospects, and share it on social media for clients who could not attend.
Apply marketing best practices
Video is a great addition to any financial advisor’s marketing strategy, but you will still need to apply marketing best practices to reap the benefits. You’ll need to measure performance of your videos across channels: impressions, view-through-rate, click-through-rate, and share statistics. Tracking these performance metrics will help you hone your video strategy and identify which platforms, messages, and length 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 best nurture and convert prospects.
Related: Why Financial Advisors Need to Demonstrate Their Firm’s Expertise in Digital Marketing