We're all watching a lot of online videos these days.
The average person watches 17 hours of online video per week.1
Video is popular for many reasons. They’re engaging, easy to digest, and give a real-life picture of what is going on. And they can even help you learn something new. Marketers like video because they’re relatively easy to create and can be promoted in so many different channels.
Video can also help clients feel more connected to your firm. It’s a chance for them to get to know their advisor better (and meet others on the team) and to feel smart about their investments. You can create videos that keep clients informed on what's happening at your firm, educate them about financial planning and the markets, and show off what sets your firm apart.
So, what does it take for an RIA firm to develop a video strategy? Here are 10 quick tips to get you started.
1. You don't necessarily need fancy equipment
It can be helpful to have a nice camera, but online viewers aren't expecting it. In fact, many people value a less polished, more authentic approach to videos, especially on social media. A good smartphone, the right lighting, and a decent microphone can get the job done. Also, make sure you have someone who can cut mistakes or add basic graphics such as names and titles.
2. Choose your video format
Think about what kinds of videos you want to create. Will you be making “explainer” videos where one person describes how something works? Will you post interviews where investors, analysts, or teammates share their latest insights? Will you have multiple segments? How long will your videos be? The sooner you decide on format, the easier it will be to plan and execute each video.
Deciding on a format will also help you market your videos. A catch-all video can make it hard for your audience to know what to expect. Focus on a particular topic, develop a specific visual style, organize your videos on YouTube or your website, and create a plan to promote the videos. You also improve the odds that viewers will watch longer and absorb more of the content because they know what to expect before they click.
3. Have a story to tell
Stories draw us in and help us connect to the speaker and the topic. One way to build in a story arc is to establish a challenge and then offer a solution. Or, you could simply open with an anecdote that illustrates the topic you're discussing in some way. And don't forget, every marketing effort is a chance to tell your firm's story. Look for opportunities to tell your audience where your firm has been and where it’s going.
4. Keep it short
A few seconds is an eternity online. If your video gets too long, viewers will click away. Get into the topic as soon as possible, keep your story concise, and save credits and extra information for the end.
5. Be yourself
You don't have to have a big personality to make good videos. A relaxed, clear, conversational approach is what people are looking for from an advisor video. Of course, if you're charismatic or a little quirky, and that's part of your firm's brand, then go for it.
6. Pay attention to detail
What's in the background? Is there a strange sound just outside the door? What are you wearing? Many of the details we look past as we go about our lives become magnified on video, so look and listen closely before you film a video.
7. Add video captions
Many people watch videos with the sound off, especially in public places. And 80% are more likely to watch the whole video if there are captions.2 Even for short videos, take the time to add captions. Most low-cost video editing software makes it easy to add text. Plus, adding captions ensures your videos are accessible for any audience.
8. Develop a cadence
How often do you want to post videos? You don't have to be rigid about it, but its helpful to have calendar to help make sure you post videos regularly so that viewers will begin to expect each new release.
9. Post your videos in multiple places
Social media, your website, emails—you can even use your videos in digital ads. And don't forget podcasts. If the story in your video is compelling or you do a lot of interviews, it's easy to separate out the audio and post it to a podcast feed.
10. Provide value
No one wants to watch a video that feels like a waste of time. Make videos that have a distinct purpose and that current (or prospective) clients will find interesting. And don't forget to include a call to action so that your video can deliver ROI for your firm.
This article was previously published by Charles Schwab on its Advisor Services Perspectives. Source: https://advisorservices.schwab.com/insights-hub/perspectives/video-tips-for-RIA-firms
1Video Marketing Statistics 2023, Wyzowl, https://www.wyzowl.com/sovm-results-2023/
2 Forbes, Verizon Media Says 69 Percent Of Consumers Watching Video With Sound Off, 2019.
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