Why Financial Advisors Need Video Marketing

As we enter the 2020s, online video consumption continues to grow rapidly. In a recent survey, around 27% of people watch more than 10 hours of video every week. In the US, around 85% of Internet users watch online video, and many other countries score higher than that.

These numbers are not surprising, considering pretty much anything with a screen can connect to the Internet and be used to watch videos on different apps.

There are lots of streaming sites and video-on-demand services like YouTube, Netflix and Hulu where one can consume a lifetime’s worth of video content. Social media platforms like Facebook, Instagram, TikTok and Snapchat have short-form videos that can last anywhere from a couple of seconds to several minutes. Livestreaming on Facebook, YouTube and Twitch is also very popular. 

If you want to tap into this huge marketing opportunity, you’ll have to create your own videos to connect with viewers. Even if you don’t intend to advertise on any platforms, videos are a great addition to your own social media profiles and website. 

Why Use Video Marketing?

Compared to digital content that uses text and photos, videos are more engaging and dynamic. You don’t even have to use actual videos captured with a camera to create engaging video content. You can create a video using text, photos and animations. Just add some music and a voice-over and you’ve got yourself a video clip.

You can show more of your personality, as well as the different sides of your business, effectively through video. It’s much easier to get your message across using video. You won’t have to tear your hair out trying to find more creative ways to write about something just to capture someone’s attention. 

Let’s face it, lots of people just find financial planning boring and uninteresting, especially if they have to read it. 

Most people just find videos more approachable and easier to digest. Videos can be both entertaining and informative at the same time. There’s an instant connection when people see another person on the screen talking to them or telling a story. 

Search engines can also show video results related to a topic or keyword whether it’s on a video platform like YouTube or on your own website. If you’re the only one with a video on a particular topic, you’re already way ahead of the game.

Different Types of Video Marketing Content

With the technology we have today, there are many different types of video content you can create. You can start creating video content with a smartphone and a video editing app. 

You don’t have to limit yourself to a particular video format or style. However, you should make sure the type of video you choose is appropriate for the platform it’s on.

Videos on your financial advisor website and your social media profiles should be properly edited and have a professional look. It should be consistent with your brand image.

Explainer videos are a popular option for many businesses because they’re relatively easy to create but are very useful and educational. Explainer videos are like animated infographics. 

Here’s an example of an explainer video:

AltaStreet Explainer Video

You can also have promotional videos that showcase your brand, your company culture, and your personality. 

Here are a couple of different types of business videos you can use for your website and social media pages:

  1. Product videos
  2. Explainer videos
  3. Testimonials
  4. Brand story videos
  5. Company culture videos
  6. Promos and ads
  7. Educational or how-to videos
  8. Teaser videos
  9. Livestreams
  10. Social media videos

 

If you’re creating videos for YouTube, you can be more casual and treat it like a vlog or video podcast since YouTube viewers are already used to that particular style. A lot of successful YouTube ads use an informal and personal approach that doesn’t come off as a typical ad you’d see on TV.

How to Succeed with Video Marketing

Video marketing isn’t a magic pill that will solve all your marketing issues in an instant. It’s also not going to suddenly replace all your other marketing efforts. If done correctly, however, it can push you closer to your goals in a short amount of time.

Before you plan out your first video, ask yourself a couple of questions first:

  • What is the marketing goal that I’m trying to achieve?
  • Who is the target audience?
  • What part of the marketing funnel is my audience in?

 

Once you’ve determined what the video is for and who it’s for, you can focus on the content itself. 

If it’s your first time working with video, it’s better to start with something that’s short and simple. Try to draw inspiration from other social media accounts that do short videos well. 

You can string together a couple of short video clips, add some text and some music  You can post a 10-second video on your social media page of choice and see what kind of reaction you get. 

Test out what works and what doesn’t. Social media is great for this because people are used to fleeting content, you can easily delete posts that you don’t like, and you can post as often as you can. Social media is also full of user-generated content so you can start out with just basic skills and equipment.

Make sure you have measurable goals so you can determine if your strategy is working or not.

Once you’ve gotten the hang of it, you can move up to more advanced editing tools and create longer video content on other platforms.

Final Words

Video marketing can be quite intimidating for a lot of people. But it all depends on your goals, your platform, and your audience. 

You don’t have to start off with an expensive production to make a slick-looking ad. Pick a small project and figure out the creative process first. 

Focus on the content, rather than the production value. The message is always going to be more important than the medium. 

Have a set goal before you begin brainstorming, and use that goal to guide your creative process. If your first video doesn’t help push you towards your marketing goals, don’t be afraid to try again until you get the hang of it.

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