There are a wide variety of industries that benefit from utilizing video in their marketing strategy. Marketing financial services with video can make your services accessible and comprehensible to anyone in the general public. In this article, we will review the benefits that video presents to the financial industry and provide a couple of examples for incorporating video into your next marketing strategy.
Financial jargon and legal disclaimers can be confusing, especially when it comes to investing, interest rates and fees. Therefore, video can be particularly helpful in explaining complex financial concepts. Not only will consumers be able to understand better, they will retain more information about your company. Viewers retain 95% of a message when they watch it in a video, compared to 10% when reading text only? (See more on why video is taking over the marketing landscape here.)
Video is for everyone, from students to high powered executives. In fact, according to a recent study, 59% of executives say they would rather watch a video than read text. Most importantly, video is a way to develop trust, educate your clients and provide valuable reminders with a personal touch.
Developing a solid personal relationship with your clients is an important part of client retention. This is especially true for the financial industry. Most people need to feel that they know their financial representative in order to truly trust them. Building that relationship requires consistent, clear and personable communication. You can check these boxes with the use of video. Now that we have explored some of the benefits, let’s take a look at an example to illustrate how you can strengthen client relationships through video.
If you had to decide between a wordy recap email, or a quick summary paired with a video, which would you choose? The second option can feel more personal. In the follow up video you might:
You can also use video to introduce yourself to clients before you start working with them. For example, if you have a group of people who often refer clients to you, provide them with a link to a video that they can share with their friends, family and co-workers. Seeing your face and hearing you speak will make you more memorable to a potential client and may help you convert more of those referrals into clients.
If you partner with companies that are offering 401ks or other retirement plans, this tactic may also be used to strengthen your relationship with company employees and increase client retention. We have covered some ways video can strengthen communication with current and new clients, but what about potential clients?
There are a myriad of ways to use video to improve your marketing and reach new clients. You can find inspiration for marketing financial services with video all around you. Keep the information as simple and straight forward as possible and consider creating:
Video can seem intimidating for the financial industry. You don’t want to get caught saying something that you shouldn’t or giving blanket advice. Instead of filming on the fly, write an outline of what you want to say and practice explaining those items so there is less pressure when you get in front of the camera.
Start with topics you already feel comfortable speaking about and advance from there. It is also a good idea to include a disclaimer at the beginning or end of your video, especially if you are posting the video to a public channel on YouTube.
Ready to create your first financial video masterpiece? Frozen Fire has a video production team that can coach you through the process and help you create a great impression with viewers.
Not sure how to distribute the videos after you’ve filmed them? We can help with that too! Our digital marketing division, can help spread the word about your financial services near and far. Whether it be through blogs, social channels, your website, or more, we will get your services recognized by the right audiences. Learn more about us or contact us today for more information.
Want to know more about video pricing. Check out our article here.