As I covered in a recent post, video marketing is increasingly popular in the financial services sector. Many people prefer it to the written word, especially younger ones who grew up with the medium, older people with limited sight, those trying to understand complex concepts, and anyone on a small screen.

Just a few years ago, a professional wealth or asset manager video would have cost thousands of dollars to produce. Today, they can cost far less, especially if you film with a smartphone, use enhanced lighting and recording equipment, and a basic video-editing app. Leveraging artificial intelligence, can help, as well.

On top of all of this, videos are:

• A virtual way to show the personality of your firm anywhere, anytime.
• Digital content that can help with your website’s search engine rankings.
• Underutilized by financial firms, providing a brand differentiator.

Once you decide to integrate video into your marketing mix, you must determine how best to use it. Here are 14 popular and effective ways.

1. Company Overview Video

A good place to start with video marketing is a firm overview. Think of it as a video brochure that provides prospects with an understanding of what your company does, including who you are, what you do, how you do it, who you do it for, and what makes your firm unique.

This video is often a prospect’s first introduction to your firm and team, so it is important to make a strong first impression with a high-quality piece.

2. Video Bios

Video biographies allow company professionals to explain who they are in their own words. These videos go beyond certifications, education, and experience to share someone’s real, authentic story.

Typically, these videos cover why you do what you do and what is most meaningful about your work, while including more personal elements such as family, hobbies, and community involvement.

3. Explainer Video

 Do you have a complex financial concept you want to communicate to prospects or clients? If so, an explanatory video could help.

This type of video explains a complex concept through a simple story or graphics. For instance, a financial company could explain a complex investing concept through a series of easy-to-comprehend diagrams and animations paired with a clear voice-over.

4. Training Videos

If you find yourself explaining the same things to your clients and prospects many times, training videos could be a good option for you. How-to videos can help you teach clients simple things like how to navigate your advisor or client portals or how to read statements. The relatively low production costs could save you and your team many hours of explaining.

5. Educational Videos

When a prospect visits your website or searches online, they are looking for a solution to a problem. Educational videos let you show your expertise and ability to solve their specific issue. These videos are often just a few minutes — or less — long and offer a specific tip your prospect or client can take away. A firm using this strategy should create educational videos regularly and cover a range of topics. Because this strategy often requires producing videos in volume, it is common to do them on your own equipment, webcam, or smartphone.

6. Video Press Release

Press releases are now commonly supplemented with video to tell a more complete and engaging story. Many online press release distribution services allow video attachments, so use this opportunity to illustrate, demonstrate, or educate on the people, events, or services announced in the press release.

Examples of press releases that could benefit from video add-ons include new hire announcements (with new hire interviews), mergers and acquisitions (with video explaining how the new entity will come together), awards (with employee interviews about what the award means to them), community involvement (with footage capturing an event), and the launch of a new product or service (plus an explanatory video).

7. FAQ Video

Frequently Asked Questions (FAQs) pages and sections are ubiquitous on financial company websites. They give visitors the information they need to do business, while also fueling AI answers and summaries in search.

Why not use videos to make your FAQs more engaging? Have one of your firm’s leaders answer questions using video. Make them more engaging by adding supporting visuals, such as charts and graphs, to explain concepts further.

8. Client Onboarding Videos

Firms strive to make onboarding easy. However, there are always bumps in the road to building a new relationship. Developing videos can help clients navigate these challenges. Keep them short and focus on the specifics of what it takes to complete actions, including mundane steps like filling out form fields, uploading documents, or signing virtual agreements.

9. Success Stories

There is no better way to prove that your solutions are effective than through real-world testimonials. Having someone who has achieved success with your firm share their experience is far more effective than saying the same things yourself. Work with happy clients to develop personal testimonials, always staying within legal and compliance rules.

10. Videos in Emails

Many financial firms get caught in traditional thinking about marketing, like the concept that email is a written-word medium. Nothing could be further from the truth.

If your emails are getting stale, consider adding videos. It can either supplement your existing content or replace it altogether. Or, you can couple a brief explainer video with deeper written content to expand on the concept. Videos can dramatically increase engagement in your marketing email program.

11. Presentation Videos

Financial firms with limited budgets look for simple, effective ways to repurpose content. One smart way to do this is to record your presentations, workshops, or webinars. Then re-edit them into digestible video clips for your website, social media, and email distribution.

These videos can demonstrate your expertise and give prospects and clients who can’t attend access to the content. If you are already taking the time and spending the money to create and present content, doesn’t it make sense to repurpose it into videos?

12. Call-to-Action Videos

You’re investing in marketing to get people to take action, perhaps make an investment, schedule an appointment, or attend an event. However, in many cases, a static call-to-action may not be enough to get people to do what you want them to do.

That’s why it is smart to consider call-to-action videos. These videos allow you to explain in your own words the benefits a someone will receive by taking action. If you do this well, you will see your conversion rates increase.

13. Trade Show and Conference Videos

If you market at trade shows or conferences, consider featuring a video at your booth or table. It could be a visual overview of your company and it offerings or an introduction to the people on your team.

14. Lobby Video

Even the best-run firms keep prospects and clients waiting sometimes. Take advantage of the times visitors spend waiting in the lobby to establish a good first impression or expand existing ones through a video on a TV screen. Because these videos will most likely run on a loop without sound, use strong visuals and on-screen words to convey your message.

Uses of Video in Financial Marketing: The Final Word

You have many options for using video marketing. These 14 ideas are just the beginning. Constant innovation and new technology will continue to make videos easier, cheaper, and more flexible to create and share.

Now is the time to take advantage of the opportunity to differentiate your financial firm through video marketing while the medium is still underutilized in the industry. Within a few years, video marketing will become as ubiquitous as websites, email marketing, and social media. Video marketing will then no longer be a differentiator, it will be a requirement.

Get a jump-start on your video-marketing initiatives by exploring your options with Dan Sondhelm and the team at Sondhelm Partners.