Why Financial Professionals Should Care About Video Marketing
Here’s a statement we can stand behind with full confidence: video will be your biggest opportunity in 2020. By 2020, 80% of online traffic will be video content. We’re halfway through the year, and if you’re still not convinced that video marketing is essential in your marketing plan, keep reading our blog for three reasons why you should adopt video sooner rather than later.
Video Marketing has a Higher Conversion Rate
If you’re thinking about spending money on video content, or maybe some equipment to create this content, you may be concerned on your ROI. Let us tell you two things: 93% of marketers have landed a client thanks to video, and companies using video have reported a 66% conversion rate. Now that that’s settled, here’s another important tidbit: Facebook, Instagram, and YouTube are the top 3 platforms for video marketing. When creating your video content, don’t just push it out to every platform– publish it where it makes sense for your audience. If you’re trying to reach Millennials, publish on Instagram. For Gen Z, choose YouTube. Lastly, for ages 40 and up, push your video to Facebook.
Video Ads Resonate with the Viewer
Any video you create should be branded and should have one goal: to resonate with the viewer. You’re in luck — 80% of viewers can recall a video they have seen in a 30 day time frame. In addition to that, 90% of viewers report that videos have helped them make purchasing decisions. But, here’s a tip: as a financial planner, selling your services may be your priority, but we disagree. Your primary goal should be to form a relationship with your community. Relationships are important because they inherently build trust.
Here’s an example, if you regularly post videos of financial tips for Millennials, or tips on retirement, your community will know to come back to your profile and you’ll become a thought leader in the community. Viewers that keep coming back to engage with your content will be more likely to reach out to you for questions, which may lead to conversion, because you have their trust.
Video Supports Consumer Behavior
Think about it: what do you do when you have a question? Chances are, you ask Google. And if you’re looking to learn something like a DIY, or are simply a visual learner, chances are you ask YouTube: the second largest search engine in the world. This type of behavior is something to keep in mind when creating content. Optimize your videos to answer questions. Think about the FAQ you get in your business and start creating videos that answer those questions. Or ask your community, what they want to get out of your videos or what they wish to learn.
Convinced? If you’re thinking about creating video content but don’t know where to begin, let us take care of everything for you: from concept and production to editing and distribution, we’ve got you covered. Contact us for more information.