Shifting Financial Marketing into Gear
How Having a Multimedia Library in Your Financial Website Can Boost Your Bottom Line
Video is incredibly popular these days and easily the most salient online medium. From a business standpoint, video is an excellent tool to build trust with your customers, and many industries, from finance to real estate, have found great value in doing so.
Any business activity that relies on human connection can benefit from video, and there’s no other time in history when it’s been so critical to make that effort. Despite the global health crisis, life goes on—but people can’t live in complete isolation, separated from humanity as we know it. The closer we can get to real human interaction without actually having to share the airspace, the better, and media gives us a way to accomplish this.
When you consider the financial industry, the highest-value connections are built on trust. While it’s not always the case, most people don’t choose their advisors lightly. A great deal of care and research usually goes into these decisions, and it often involves a variety of interactions, including in-person meetings. When these are not possible, video and audio content can fill the gaps.
Video Humanizes Your Financial Service Expertise
In today’s highly automated financial landscape, it’s easy to get caught up in the details. Unless you make a concerted effort to connect with a human, you can complete most activities without any interactions at all. But the truth is, as AI and algorithm-driven as most banking and investing is, there are ideas, ideals, and people at its core. Videos give you a way to make an emotional connection between those ideas and the audience you want to attract.
And while a video alone might not seal the deal, it’s a conversion vehicle you shouldn’t overlook. It’s a segue into earning a customer’s trust. You should at least consider the possibility that some people might choose a company with videos over one that does not.
For example, a financial advisor client has decided to create introductory videos for each of their advisors. Potential customers can see the person, hear them discuss their areas of expertise, and get an idea of their style and personality. It’s a great way to start a relationship, as the customer isn’t walking in stone cold. They’ll see and understand the differences between the advisors and feel more comfortable choosing the best one for their needs and goals. Seeing faces, hearing voices – it all goes a long way to earning trust.
How Video Supports Financial Marketing
Videos are popular for a reason. Hands-down, it’s the way most people prefer to digest content. YouTube is the second most popular search engine on the web after Google. It also ranks as the second most popular social platform. It’s estimated that over one billion hours of videos are viewed on YouTube every day, which drives home one single point: people love watching videos!
- Storytelling. Video gives you a chance to tell a story. Stories create an emotional response. People make some of their most important decisions based on how they feel about a product or service—not necessarily on price or any other metric.
- Reduce Bounce, Increase Time On Page. Videos on your website encourage people to stay longer on your site. The longer they stay, the better chance you have to convert them to paying customers. In other words, the value of video isn’t just about the content in the video; it’s also about boosting engagement from your site visitors.
- Good for SEO. Google prioritizes websites with video. Even if you’re already ranking high, it’ll help you stay there, and you’ll appear in more searches.
- Fast, Convenient. Video gives you access to a whole audience that might not have otherwise called or made an appointment. It’s a way to capture today’s consumers’ short-attention-spans and help them make critical buying decisions.
- Video Can Speak Directly to Viewers Who Are In Different Stages of the Buyer’s Journey. Video content can be customized with tailored messages and insight that speak to those who are in the awareness, consideration, and decision stages of the buyer’s journey.
Developing Your Financial Media Strategy
We’ve established the value of videos as a way to market your business better, but that’s not the only way to extend the value of your financial expertise. Podcasts are rising in popularity as well, so this is another avenue to include in your overall financial media marketing activities.
From C-suite executives to business owners to investors, financially-savvy consumers are always looking for insights and ideas about improving profits and deriving maximum value from their financial decisions. The trouble is, many of these folks don’t have the time or attention span to read through a piece of content, no matter how engaging and informative it is.
Podcasts are a great way to expand on the ideas you’re offering in your videos. Optimally, videos should be as brief as possible. With a podcast, you can go a little longer (30-45 minutes is a good range to shoot for), which provides the opportunity to dig into your topics.
According to Edison Research, about one-third of Americans are active podcast listeners. New data shows that listenership is now at an all-time high, accounting for six percent of all audio content on the web. Of those, almost half have annual incomes of more than $250,000 a year.
Most people listen to podcasts while their driving, at the gym, or at work. It’s the perfect opportunity to have their undivided attention for 20 to 30 minutes, and your expertise might just net you a new customer.
As for popular podcast topics, finance will probably never go head-to-head with true crime, but it’s firmly in the top ten, and that’s a very good indication that your efforts will have an audience. As with other types of marketing campaigns, a content calendar helps you manage topics and put your ideas in order before you go to production. Both video and podcast performance can be tracked through analytics, making it easy to understand the value of your efforts.
Another wonderful aspect of podcasts is that you can transcribe the audio into purpose
Creating Your Financial Media Library
Video and other digital media create massive value for your organization, but when you’re consistently creating new content, pretty soon, you’re going to have a pretty sizeable collection. The next order of business is to devise a way to manage it.
A media library is a central hub from which you can manage, share, and distribute content to your customers, employees, or other stakeholders. With everything in one place, it’s easy for everybody on your team to find what they need to accomplish what they need to do.
A financial media library is also valuable to align efforts and reduce the time it would typically take to source and deliver content to a customer. It’s also a great way to connect your financial marketing to the sales process, facilitating communication between departments and encouraging conversations around content creation. When all of your content is centrally located, it’s easier to see the gaps and bring heads together to bridge them.
Your media library also gives you a way to segment your content, so it’s more relevant to different departments and customer personas. Just about every department will benefit from having a fully realized media library—from training, orientation, and introductory videos in HR to high-level thought leadership for the executive suite, the sky is truly the limit.
Now that you’ve sunk your teeth into the joys and benefits of videos, podcasts, and how to organize your growing collection into a cohesive format, it’s time to make it happen.
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