Are you looking for a fresh way to connect with prospective investors?

Many financial professionals never consider using videos. However, they could be an ideal relationship-building tool. They’re becoming an increasingly popular marketing option, even in the financial services industry. They can be great for explaining complex financial concepts and building comfort and trust with prospective clients.

This article explains what you must know to become a video marketing pro in the wealth management sector.

6 Ways to Use Videos in Wealth Management Marketing and Communications

1. Explainer videos

Financial practices can use explainer videos to educate prospective investors about saving and investing topics. They help viewers understand complex concepts, such as real estate, cryptocurrency, and hedge fund investing, while also demonstrating firm expertise.

Explainer videos are great for sharing information about a full range of subjects, from the philosophy behind an investment option to how it relates to current economic or market conditions.

The best explainer videos are similar in tone and messaging to the regular conversations financial professionals have with clients. They should feel personal and friendly yet professional.

2. How-to videos

How-to videos are similar to explainer videos. However, instead of explaining an investment concept, they describe how to do something, like save for college or retirement or leave a legacy. While they impart information, they’re more about building comfort or confidence around a concept. People won’t put in the effort to save and invest for a goal if they don’t know the steps to get there.

3. Corporate videos

Corporate videos can explain important aspects of your firm, including:

• Staff experience
• Areas of specialization
• Approach to financial planning or stock picking
• What it’s like to interact with your firm.

Use corporate videos to make people feel comfortable and confident about engaging with your wealth management firm.

4.  Client testimonials

Of course, you want to be careful when creating client videos. One client’s experience with your financial planning operation may not reflect those of future investors, so it can be challenging to push them through compliance.

Still, client testimonials allow people to share their experiences with your firm. Not only do they demonstrate credibility by showcasing clients who achieved their goals by working with you, they also build trust by showing that your firm works with investors like them. Add to this the fact that people are more likely to believe information shared by others similar to them than that provided by financial firms, and you can see the power of testimonial videos in wealth manager marketing.

Tip: Avoid compliance issues with testimonials by focusing more on client experiences than specific investment information or performance.

5. Market commentary videos

Being able to clearly explain investment concepts is critical to being an effective wealth manager. Demonstrating expertise in understanding current market and economic conditions goes above and beyond and helps build investor trust. Make it a point to shoot market commentaries quarterly or more often during turbulent market times.

6. FAQ videos

Financial advisors are asked specific questions over and over again.

That’s why frequently asked question (FAQ) videos are among the most popular produced by wealth managers.

By definition, FAQ videos answer frequently asked questions about investing topics. They can be great additions to FAQ website pages. Many investors prefer video to written content, and some may not want to read FAQs at all.

Another plus about FAQ videos is that they are a great way for financial advisors to present themselves on their websites, showing their personality and demonstrating expertise.

Simple Ways to Optimize Your Wealth Manager Videos

Here are proven ways to improve your financial firm video content.

1. Identify and understand the investors you’re targeting

To create engaging videos, financial advisors must identify the people in their target market and understand their behaviors. It’s the only way to develop content they understand and find value in. Consider:

• Age
• Sex
• Education
• Language spoken
• Location
• Social status
• Needs and wants
  Reasons for watching a video.

Considering all these factors will help you produce videos that people will engage with.

2. Deliver your message correctly

Make sure your videos are informational, educational, and entertaining. Avoid financial jargon. It’s also a best practice to play to your audience’s emotions. Sure, wealth management is serious, but the results of it make people’s dreams real.

3. Personalize your videos

Finance videos shouldn’t be too broad. For instance, people entering the workforce and those with decades of workplace experience have different concerns about retirement. Videos about the topic should reflect them.

4. Feature humans, not just voices in your videos

A human element makes your wealth management brand feel more approachable. It helps establish an emotional connection and builds trust between your firm and prospective and current investors.

5. Keep videos short and impactful

The longer your video, the less likely people will view it to the end. A good benchmark for financial videos is between one and two minutes. If you need more time, it could be wise to develop a video series. Giving people the option to view more is better than forcing them to do so.

6. Engage viewers quickly

People have incredibly short attention spans, typically just a few seconds. Open your videos with something arresting, such as a surprising statistic or fact, to get viewers’ attention.

7. Include subtitles

Even though it causes additional work when producing finance videos, adding subtitles is a great way to make your videos more straightforward to understand and accessible to more people, including those who are hard of hearing. This is particularly important if you work with retirees or older investors.

8. Create clear and compelling calls to action (CTAs)

Make what you expect viewers to do after they watch your videos obvious, such as visiting your website or scheduling a consultation. Your CTAs must be clear and convincing enough to get people to act.

9. Purchase basic professional video equipment

Today’s smartphones produce amazing quality video content. However, buying and using a tripod, lighting, and a microphone can make your videos more professional.

Videos for Wealth Managers: The Final Word

If your financial advisory practice isn’t producing video content, it’s probably time to get started. Investors today expect them, and they help deliver a better wealth management experience. Leverage the ideas in this guide to quickly become a financial marketing video production expert.

Want to improve your video content? Schedule a time to discuss opportunities with Dan Sondhelm and the team.