How Financial Advisors Can Use Video to Market in the Attention Economy

In a world of information overload, financial advisors face a significant challenge in holding the attention of clients and prospects. According to a Microsoft study, the average adult now has an attention span of just eight seconds, highlighting the crucial need for content that is engaging, differentiated, and results oriented. High-quality video content has thus emerged as a powerful tool for advisors to deliver their message succinctly and stand out in a crowded market.

The COVID-19 pandemic spurred an outpouring of authentic, but often poor-quality video content. With videos living on indefinitely on YouTube and the internet, quality is of paramount importance. So, how can financial advisors strike the right balance between authenticity and professionalism?

Identify Your Unique Entry Point

Before diving into video production, advisors should identify their unique value proposition and the message they want to convey to their audience. What sets your firm apart? What expertise or insights will resonate with clients and prospects?

Investment advice can often seem dry and technical, but injecting a dose of personality into videos can help advisors provide important information and connect with clients or prospects on a personal level. By showcasing the personal side of their business, advisors humanize their brand and create a deeper emotional connection with their audience.

Authenticity is key to connecting with viewers. Don't be afraid to be yourself on camera. Share personal anecdotes, insights, and even moments of vulnerability. When you're authentic, viewers are more likely to trust you and resonate with your message.

Deliver the Message Efficiently

With attention spans dwindling, getting to the crux of your message is critical. Optimal video length varies depending on the complexity of the topic, but as a rule, aim for 1-2 minutes for straightforward messages and 3-5 minutes for more in-depth discussions. Always include a clear call to action to prompt viewer engagement.

Regardless of length, advisors need to prioritize content that provides actionable ideas and insights, and practical advice to help viewers achieve their financial goals. To maintain viewer interest, add visuals, B-Roll, and good storytelling. We have found it effective to break up longer content into shorter segments, use animations or graphics to illustrate key points, and vary message delivery to keep viewers engaged.

Customize Communications with Client Tiers

Customized video content can be a powerful tool for financial advisors seeking to cater to the unique needs and preferences of ultra-high net worth (UHNW) clients who expect a tailored experience. Personalization is key to building meaningful connections with clients. Use short video communications to reach individual clients or provide “Explainer” videos to simplify complex financial concepts.

We have seen success with advisors who personalize video messages addressing individual UHNW clients by name. They tailor the content of each video to address specific financial goals or concerns or provide customized video updates on the performance of their investment portfolios.

Offer exclusive video content reserved specifically for UHNW clients. This could include in-depth market analysis, expert interviews, or exclusive access to industry events. These personalized videos are rapidly becoming table stakes. In a study on the value of personalization, McKinsey found that 71 percent of consumers expect companies to deliver personalized interactions. Customized videos can help address growing demand.

Enhance Production Quality

Adding professional production quality into videos is essential for effective and credible content, and it doesn’t have to be expensive or complicated.

Start by investing in quality equipment, such as a high-definition camera, lighting, and external microphone. But don’t break the bank. Much of this equipment can be purchased online for a reasonable cost per component.

For a more professional look and feel, use video editing software to enhance production quality. Adding music, graphics, artwork, and B-roll can help advisors inform, entertain, and engage clients and prospects. Noise reduction technology and AI tools can also help advisors bridge the video gap. Finally, find a quiet space without dogs barking, or kids crying. Otherwise, results can be amusing and embarrassing—maybe even viral.

No matter what level of production quality you choose to use, don’t wing it. Prepare a script that outlines key points and messaging and rehearse your delivery to develop a natural and conversational tone while still conveying gravitas and expertise.

Distribution and Amplification

Once the video is created, consider where it will live and how it will be distributed. We have found that it’s most effective to incorporate videos into your website, email signature, and social media channels to maximize visibility and engagement. Digital marketing firm Insivia found that websites with video were 53 times more likely to reach the front page of Google search, while email click rates jumped 300% when videos were included, according to HubSpot.

You’re Not Alone

While creating and building a sustainable video program can be done with planning, education, and good execution, there are also turnkey solutions available to advisors that can cost effectively handle from creation to distribution. Incorporating video content into communications and marketing can be a game-changer for financial advisors looking to grow their firm and enhance client relationships. Act now – start harnessing the power of video to propel your firm forward.

Matt Novello, an entertainment industry cinematographer and director, is Managing Director of FLX Media at FLX Networks.

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