Financial Professionals Embrace Online Video, But Are They Missing the Mark? New Study Reveals Surprising Results
Financial professionals are increasingly turning to online video as a means of connecting with clients and prospects, with a nearly threefold increase in online postings over the past four years. However, a recent study by compliance consultant Hearsay Systems suggests that these videos may not be as effective as they could be in engaging viewers.
According to the Social Selling Content Study conducted by Hearsay Systems, while the number of video postings has increased significantly, it is text-only posts that are generating the most engagement. Original posts elicited viewer responses 5.2% of the time on average, compared to just 0.5% for canned content. This highlights the importance of creating authentic and personalized content that resonates with the audience.
Leslie Leach, Chief Marketing and Strategy Officer at Hearsay Systems, noted that many financial professionals struggle with what to say when recording videos. The key to success, she suggests, is to create original content that is personal and engaging. By avoiding canned messages and putting a bit of themselves into their posts, advisors can better connect with their audience.
Marketing consultants emphasize the need for advisors to not only create compelling content but also to effectively distribute it. While videos posted on social media platforms may not always perform well, sending videos via email can lead to higher engagement rates. By promoting videos through multiple channels and encouraging viewer interaction, advisors can enhance the impact of their online content.
In addition to improving content creation and distribution strategies, advisors can also learn from industry leaders who have successfully leveraged online video. By observing how experts like Michael Kitces and Douglas Boneparth use videos to educate and engage their audience, financial professionals can gain valuable insights into effective video marketing practices.
As the trend towards online video and social media marketing continues to grow, financial professionals are increasingly investing in digital displays and videos. The use of artificial intelligence to personalize video messages for individual clients is also on the rise, offering a more efficient way to create tailored content at scale.
While the online landscape may be crowded with content, advisors can stand out by focusing on quality over quantity and leveraging platforms like Instagram for higher engagement rates. By adopting a consistent posting schedule and creating content that is both informative and entertaining, financial professionals can effectively connect with their audience and build their personal brand in the digital space.
Overall, the shift towards online video represents a positive development for the industry, signaling a willingness among advisors to embrace new forms of communication. By refining their video marketing strategies and staying attuned to evolving trends, financial professionals can effectively engage with clients and prospects in the digital age.