Falling down a rabbit hole.
That’s how people describe watching video after video on the Internet. One minute you’re watching highlights from the Masters – and before you know it – an hour slipped by and you’re watching a cat play a keyboard.
Why? Because online videos are addicting. They’re easily accessible and they’re flat-out entertaining.
People crave them. In fact, 78% of people watch videos online every week. 55% of people watch videos online every day. And on YouTube alone, users watch hundreds of millions of hours of video every day, generating a billion views.
Online videos have become the medium to reach your audience.
And so, a marketing strategy without video is like cereal without milk. Sure, it’s edible. But something’s definitely missing.
The hard part is developing a video strategy that works for your business. In this post, you’ll find a few pointers to get you started, and testimonials from advisors who’ve found success.
Quality Over Everything
62% of consumers are more likely to have a negative perception of a brand that published a poor-quality video.
So before you press record, it’s imperative that you have a game plan. Not only do you want your videos to look professional, you need to make sure that the content in your video provides value to the audience.
Don’t make it all about you and your service. Instead, focus on your audience and describe the ways you can save them time and make them happier. What will clients get if they choose you as their financial advisor? How will you make their lives better? Answer these questions and you’ll be on the right track.
Use Video to Expand Your Online Reach
When videos are well-produced, they’re compelling. They grab the audience’s attention and motivate them to take action. Which might help explain why businesses that use video grow company revenue 49% faster year-over-year than organizations without it.
Because of that, it’s important to cement a big piece of your video marketing strategy into distribution.
Place a video on your website to enjoy a boost in web traffic. According to the Aberdeen Group, companies that feature videos on their website saw 41% more web traffic than companies without video.
Including videos in your emails also increases engagement. Simply including the word “video” in an email subject line increases open rates by 19%, increases click-through rates by 65%, and reduces unsubscribes by 26%.
And don’t be shy about showing your video during client presentations. Video works well when introducing clients to a new strategy or communicating a complicated message – after all, a picture says a thousand words, and studies have shown that one minute of video is equivalent to 1.8 million words. And simply talking to clients about their finances may not be enough. When people hear information, they’re likely to remember only 10% of what they heard 3 days later. Pairing that same information with visuals increases a person’s retention to 65%.
Know When to Ask for Help
Not everyone has the creativity, or the resources, to put together a remarkable video. And that’s okay! As a financial professional, you have a lot on your plate. Partnering with a marketing agency could save you the hassle of producing a video yourself.
But depending on how extensive the production, just one professionally produced marketing video could cost you anywhere between $2,000 and $20,000. When estimating the price of your video marketing content, some of the most important considerations include:
- Using stock footage vs original footage
- Live action vs. motion graphics
- Using yourself vs. an actor
- Stock music vs. an original score
- Writing your own script vs. paying for one
- Shooting on location vs. in-studio
Each of these decisions alter the costs of the production. For the advisor with a budget closer to $2,000, this often equates to a video that employs the most cost-effective methods. But if your first decision is to make budget cuts in lieu of a more creative approach, then your marketing efforts are already off on the wrong foot. Plus, as in the case of home repair, the cheapest options usually require a lot more DIY. Which means dedicating a lot more of your time.
Subscription-based video marketing
A subscription-based digital media service may offer you an alternative route to the marketing agency approach. In a subscription model, you pay a monthly fee to access dozens of pre-made videos that you can brand with your contact information and firm name. This could save you hundreds of dollars compared to what you would pay an agency. And because each video comes distribution-ready, you can showcase your video to your audience faster.
eMoney’s Advisor Branded Media delivers this type of service. In the video below, you’ll see a preview of our digital content and hear how it has helped our advisors find success.
Want to watch more of our video content? Visit our Advisor Branded Media page.