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Written content is king, but video is queen. Just as the queen is the strongest piece in chess, video marketing is the most powerful tool in a financial advisor’s marketing arsenal.
The science is simple. People respond better to video.
Advisors are trying to reach busy, successful professionals. What do those professionals not have much of? Time. When time is money, you need to find effective ways to reach your audience.
Video serves this purpose. With video, your prospects can build trust and be informed without the hassle of wading through long-form content. While it’s not time to completely hit pause on written content, all advisors need to invest in video marketing if they want to stand out in 2020.
In this article, we’ll explore why your audience responds better to videos.
People engage with videos
The average internet user watches 206 videos per month. Videos are the new normal on social media and websites alike, encouraging users to pause in their endless scrolling.
Science shows that different brain processes are involved in watching videos versus reading articles. When we read, our brains work harder. It takes deeper cognitive efforts.
By watching videos, users avoid the heavy lifting of reading. That’s not to say your users are “lazy.” Rather, videos are processed by the brain 60,000 times faster than text. It’s easier, and easier is better.
I’ve found through our user feedback that advisors benefit from direct metrics and tactics to improve sales performance management. If you’re an advisor or manage advisors, video is an easy tactic to provide for greater depth of interaction with your clients.
Increase your reach
Video is a powerful tool if you’re looking to reach new client markets with your practice. You can’t ignore the fact that YouTube is the second-largest search engine.
YouTube processes over three billion searches a month. Your prospects are searching on YouTube, whether they’re interested in learning more about complex financial topics or the right investment strategy. By creating content on this platform, you have the opportunity to convert more leads.
In addition to YouTube, using video on social media also increases your reach. In a sea of text posts, videos stop users from the dreaded endless scroll. It makes them take notice, exposing your practice to new audiences across platforms.
Boosted search engine performance
Video has added SEO benefits as well. If your content includes video (such as on a landing page or blog post), it’s 50 times more likely to make it to the first page of Google’s search results.
When users spend longer on your page because they’re watching a video, this also shows Google that people like your content. You’re communicating with search engines that your website is engaging and valuable.
Video is inherently sharable. Other influencers, leaders, publications, and consumers are more likely to share your video content. Incorporating a video in a blog post, for example, attracts three times as many inbound links. Video is a necessary part of a strong SEO strategy.
I’ve seen advisors achieve great success through search engine performance. Yet, many firms struggle with how to achieve more results through search. Firms that take on new strategies (like video) in search engine marketing have greater success – even beyond those that hire outside agencies to help market their business.
Build trust and likability
Video builds trust. If you’ve ever heard the phrase “show don’t tell,” this is where it comes into play.
Video lets your users see you, in person, as a form of virtual introduction. It’s much easier to form an emotional connection through video than text.
Sure, you can explain your process through a bullet-point list on your about page. This is a decent strategy. However, imagine how much more powerful it would be to explain your step-by-step client process in your own words through video. In an industry where you’re competing with a lot of other advisors for the same clients, video empowers you to stand out.
How to use video marketing in 2020
Now that you know why video marketing is so powerful, let’s talk about how to actually start using this medium in your existing strategy. You don’t need any expensive equipment or a large production crew to get started.
If you have a camera (your smartphone is fine) and a bit of know-how, you can make your own marketing videos. The best types of videos for financial advisors are:
- Explainer videos
- Tutorials
- About you
- Customer success stories
From there, market your advising practice on YouTube and other social platforms. Add them to your website and make sure they’re easy to view.
Remember, the end goal isn’t to drive subscribers to YouTube or your social media profile. It’s to build trust in these users so they’re compelled to work with you professionally. As long as you’re creating video content that adds value, you’re on the right track.
The bottom line on video marketing
As a financial advisor, video marketing is a relatively simple way to optimize your marketing. We live in a digital world, so a digital approach to reaching new clients is a must.
When you’re scrolling through your social media feed, take a second to notice your own reaction to video. You’ll recognize the things that capture your attention and what make you click away. Video gives you the tools to take charge of your prospects’ attention. You can use this to your advantage when marketing your practice.
Samantha Tetrault is a finance and technology writer for Xtiva, an incentive-management platform for wealth management firms. For more information about financial advisor and wealth management marketing, visit the Xtiva blog.
Read more articles by Samantha Tetrault
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
