Guide To Video Marketing For Financial Advisors
In this guide to video marketing for financial advisors we look at how videos are increasingly becoming a more effective inbound marketing strategy that you can use to connect with new clients. In the past, financial advisors may have used more traditional forms of advertising such as TV, radio, and newspapers. As time progressed, more financial advisors recognized the value of inbound marketing strategies on the Internet. Financial advisors are embracing this method of marketing that produces high quality prospects for their services.
Video marketing is different from advertising in the form of TV commercials. Video marketing is the use of video to promote financial advisor services online. Give video marketing a chance and you will find it boosts your search engine optimization (SEO), steers web traffic to your online footprint, adds to visitor time on site, and converts prospects into revenue producing clients.
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What Types of Videos Should Financial Advisors Create?
If you are concerned about how to use video marketing for your financial advisor firm, don’t be too concerned. Just about any video content featured on your homepage, service pages or social media is better than none. Video marketing adds a face to your firm’s online writing “voice”, knocking down those invisible yet very real barriers between your team and potential clients. There are several different types of videos you can create to help develop a rapport with your target audience, communicate the value of your services, and increase conversions (visitors become leads).
On-camera videos are particularly effective as they humanize your financial advisor firm, adding a friendly face and voice to your online content, serving as the metaphorical icing on the cake that is your web-based text. A scripted on-camera video using either a local videographer or remote video capture really will help generate that all-important rapport with your target audience for a limited amount of time and expense.
Voiceover videos add audio complete with video yet no one from your financial advisor firm will appear on-screen. If you do not want to use your own voice in a voiceover video to detail your financial advisor firm’s value proposition, a professional can serve as the narrator, providing a warm and friendly voice that suits your financial advisor firm’s personality and vibe.
Explainer videos are quite popular amongst financial advisors as they detail exactly why prospective clients should pay for the firm’s value offering. This is your opportunity to break down exactly why your financial advisor services are worth their cost, using plain English everyone can understand.
Expert interview videos feature one or several of your financial advisors on-camera, flexing their intellectual muscle in front of the online audience. This type of video is centered on scripted questions posed to the financial advisor. He or she responds with soundbites that succinctly answer the question with the overarching goal of communicating the value of the firm’s financial advice and services.
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Content for Financial Advisor Videos
Financial advisor video marketing centers on communicating how the financial advisor services improve clients’ financial circumstances in the short-term and also across posterity. The video content should explain exactly how the financial advisor services increase client wealth. This is precisely why many financial advisor firms feature satisfied clients in their videos. Mixing in client testimonial footage throughout video marketing makes it easier for targeted prospects to identify with those who have received valuable guidance from your financial advisor firm. However, excessive featuring of one or several satisfied clients throughout your video may backfire because the footage may come across too insincere and promotional.
Above all, the content of your video marketing should zero in on your target demographic. As an example, most financial advisor firms target professionals between the ages of 30 and 60 who live or work near the firm’s office. Take some time to consider what this target client would best respond to in video content and shape your video marketing message accordingly.
Furthermore, it is important to consider your financial advisor firm’s goal(s) for video marketing. Do you want to generate interest in a new financial advisor service? Perhaps your primary goal is boosting brand awareness. Maybe you are trying to attract first-time users who have not met with financial advisors. Gear your video marketing content toward motivating your audience to take the specific action you have in mind and the money, time and effort you invest in this project will be well worth it.
Be sure to covertly communicate the purpose of your video marketing content at the outset of the video or at least within the first minute rather than waiting until the end. Subtly nudge your audience toward the desired action sooner rather than later and your video will have more of the intended impact.
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Steps to Making a Video
There are two ways to make financial advisor marketing videos: DIY (do it yourself) or paying a team of professionals. Unless you are an expert videographer, it is better to lean on the experts or at least consult with them for your initial couple of video marketing campaigns. There is the potential for an amateurish attempt at video marketing to backfire in a big way. If your video marketing content does not look completely professional, those who see the video will make negative judgements about your financial advisor firm and select other firms for interviews.
When in doubt, opt for more video content as opposed to less. Film two or three times as much content as you anticipate you will need. The best footage is kept and the remaining footage is edited out. In other words, a single straightforward shot of the individual or scene featured in the video will not suffice. The content should be captured from numerous angles, edited appropriately and pieced together into a polished video that looks professional in every way. However, most financial advisor firms are incapable of pulling off such a feat so it is in your interest to lean on video marketing professionals for guidance or handle the entirety of the filming on your behalf.
If you go the DIY route or pay a video marketing consultant rather than completely outsource the entirety of the project to a professional videographer, it is important that you are aware of the subtleties of your video setup. Some are simple steps in the preparation to record the video. Other steps are more complex and may require practice before the final recording.
Ideally, you will scope out the setting to be used for the video marketing content a day or two prior to actual filming so you can get a sense of what should be highlighted, which angles will work best, and the other subtle yet important nuances of the scene. If the area where the video marketing content will be filmed is heavily trafficked, let everyone in the office know the hours you and/or your team will be filming to minimize interruptions.
Lighting is particularly important for producing higher quality videos. If the shot is too dark or too bright, the viewing audience will exit the video in a matter of seconds. Ideally, the footage will be slightly brighter than normal to inspire positive feelings. Position speakers so they are positioned in the direction of natural light. If necessary, use artificial lighting to guarantee the shot has a well-lit, upbeat professional look that holds the audience’s attention.
Finally, do not forget about the audio. Your video marketing content should have clear and crisp audio created with a high-quality microphone. Eliminate all potential sources of noise pollution from the air conditioner, telephone conversations in the background, additional office chatter and other sources of distractions. Remind actors to refrain from touching the microphones on their person as even the slightest physical contact can lead to annoying sound popping.
Read our blog article: Make the Best Financial Advisor Video in 5 Easy Steps
What You Need to Make a Video: Basic Equipment
Those who take the DIY route will need several pieces of equipment to make video marketing content that looks truly professional. If your budget is limited, consider shooting your video marketing content on your iPhone or another high-quality smartphone. However, a professional video recorder is optimal as it has more storage space than a smartphone, a durable lens and does not have the compatibility issues that often plague smartphones. If you decide to film with your smartphone, use the camera on its back as opposed to the camera on the front for optimal clarity.
You will also need video editing software such as Adobe Premiere to properly edit footage. As noted above, it will help to have at least a few studio lights available just in case the site you select for shooting has dimmer light than expected. Each participant should have a lapel microphone as smartphone microphones will inevitably pick up an abundance of background noise that drowns out the actors’ voices.
Once the footage is taken, it will have to be edited on a computer with video editing software. A license for Adobe Premiere is somewhat expensive so be sure to take a look at the many different video editing software options before making a commitment. In fact, there are some free video editing programs available such as Windows Movie Maker and iMovie. If you prefer a middle-of-the-road video editing program, consider ScreenFlow or Camtasia.
Learn more in our blog article: Video Production Toolkit for Financial Advisors
Video Marketing Best Practices
In-house Production vs Hiring a Professional
It is certainly tempting to do everything in-house. However, once you add up the cost of the video editing software, microphones, lighting, and the time necessary to pare down the footage for something presentable, you will have invested considerable amounts of time. And, as is often said, time is money.
It might be better to focus on providing top-notch financial advisor services while leaving the video marketing duties to the professionals. Even if you end up spending significantly more for outsourced professional video marketing services than it would have cost to do the work in-house, it is likely worth the premium simply because your time has considerable value. There is no sense investing several hours or possibly even dozens of hours of your team’s time attempting to create high-quality video marketing content when there is no guarantee the end result will actually meet expectations that portray your firm in a positive light.
How to Optimize Your Financial Advisor Video
If you reach the point at which you have video marketing footage worthy of an addition to your homepage, a service page, or social media, congratulations are in store. Most financial advisor firms do not make it this far as there is an overarching concern that their services, team members, or office are not intriguing enough to justify the creation of video marketing content. The little-known truth is video marketing content of just about any variety will garner views, especially if it is under a couple of minutes in length, well-shot, and has clear audio.
Once your footage is saved, it is time to optimize the video. This is not a DIY task in the slightest yet those who are computer-savvy and willing to invest several hours of their time have the potential to produce a professional-looking video. However, there is no guarantee self-reliance in the “editing room” will generate a finished product worthy of prominent placement on your financial advisor firm’s homepage or another component of your online footprint. Let the professional video marketing aficionados handle this challenge on your behalf and your team will be liberated to focus your attention on providing unparalleled financial advisor services.
The primary goal of video marketing is to convert viewers into leads, prospects, and clients who proactively reach out to your financial advisor firm to schedule an appointment. Video marketing content optimized with this goal in mind will help you convert more viewers into revenue-producing clients. Video optimization is an ongoing process that takes patience and fine-tuning from a digital marketing specialist. If tracking statistics reveal the video marketing content is not inspiring people to click the call to action (CTA) buttons or links on the page, it is time to refine the video content. Even something as subtle as altering the video’s thumbnail image has the potential to increase clicks and corresponding viewer outreach to your financial advisor firm.
If the watch rate, also known as the play rate, is less than desired, extensive optimization might be necessary. The watch rate is calculated by dividing the aggregate number of video plays by the loads. In addition to altering the video thumbnail, you can boost views by changing the video’s length, design, position on the page, and even the player customization in terms of aesthetics and logo. If it turns out people are not watching the entirety of the video, it should be optimized to hike viewer interest at the most frequent viewer drop-off points. Edit the content as appropriate or shorten the video length to keep viewers interested and the number of viewers who watch the entirety of your video marketing content will gradually increase.
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Continue Testing and Enhancing Your Video Marketing Content
Each piece of video marketing content should be viewed as a work in progress until you are absolutely certain it is maximizing interest in your financial advisor firm’s value proposition. Continue to refine your video marketing as time progresses. Review the video analytics in-depth across the ensuing days, weeks and months. Implement strategic alterations, track how those alterations affect the analytics, and you will have valuable insight into which video marketing strategies work best. Apply this knowledge to subsequent marketing videos and the content really will convince viewers to take action in the form of a phone call, email or the completion of a contact form to obtain more information about your financial advisor firm.
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