What Financial Services Marketers Can Learn From Brands Doing Live Video Well

What Financial Services Marketers Can Learn From Brands Doing Live Video Well

As a marketing professional, you probably know all about the live video marketing trend. It happens to be the big marketing idea right now. Unfortunately, the financial services industry hasn’t adopted this trend as much as other industries, and we think that’s a missed opportunity. Here’s what financial services marketers can learn from non-financial brands that are doing live video well.

What is live video?


In case you’re not clear on what live video is, it’s very much what it sounds like: video streamed live as events happen.

As a marketing technique, live video seems to have picked up steam since the launch of Facebook Live. We’re sure both your personal and professional Facebook streams have been hit with notifications that a specific person or company is now (or was) live.

Live video isn’t just for Facebook, though. You can go live on YouTube or on your company blog. Review your content strategy, take a look at the resources you have available, and choose the channel that makes the most sense for your firm.

Who’s doing it well?


Since we’re talking about video, it should come as no surprise that media properties are using this marketing tool particularly well.

Disney Interactive Media, for example, has established a production team dedicated to producing broadcast-quality live video. Thanks, once again, to Facebook Live, you may have had the opportunity to see the touring cast of Newsies perform the song “Santa Fe” actually live from Santa Fe.

Sure, it’s easy for a company like Disney that knows a thing or two about production value and making great videos. But here’s the thing: live video isn’t about broadcast-quality video. It’s about telling a story in real time and delivering that story to people who might otherwise get to participate in it. And that’s something content marketers already know how to do.

What story will you tell?


It’s up to you, but it should be a story that fits with your overall content strategy, doesn’t feel forced or staged, and doesn’t require a great deal of resources.

Maybe you have an investor presentation, industry conference or other event that you think non-attendees would be interested in. Have someone on your communications team film part of the event and stream it live on Facebook. This could be a great way to give your audience a behind-the-scenes look at the financial services industry and, at the same time, provide a learning opportunity. It could also benefit those who wanted to attend your event but couldn’t make it in person.

You probably won’t want to live stream the entire event, as you still want to provide value to those who attended in person. Instead, live stream meaningful snippets, enough to capture your audience’s attention and potentially drive interest in future events.

It’s up to you, but it should be a story that fits with your overall content strategy, doesn’t feel forced or staged, and doesn’t require a great deal of resources.

The nuts and bolts of live video


Before you go live, there are a few other things to keep in mind.

First, if your channel of choice for live video is YouTube or your company’s blog, rather than Facebook Live, you may want to invest in slightly higher production quality. But the great thing about live video is that you can decide how to approach it.

Second, live video doesn’t mean spontaneous video. If you want your video to have an impact, then people have to see it. It can’t hurt to take to your social media channels and give your audience a heads-up that you’re going live. Let them know when and where, as well as what the topic will be. That way, people will know to tune in.

Finally, never film people – including audience members – without their permission. And make sure your firm’s compliance department is comfortable with what you’re posting live.

Andrew Broadhead
Marketing
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Andrew Broadhead is Communications Manager at Ext. Marketing Inc., where he creates content that helps financial services firms engage their customers and prospects. Andrew’ ... Click for full bio

When it Comes to Your Money, Does the Truth Hurt?

When it Comes to Your Money, Does the Truth Hurt?

“We’ve been arguing about this for year, and here we are in our 50’s. It’s time to stop!” Laura said empathically.


Paul’s downcast eyes and silence spoke volumes.

Laura continued, “We’ve worked with several advisors who have tried to help us invest our money in a sensible way. Then whenever the market goes down, Paul calls the advisor and tells him to sell everything! In all these years, no matter how much we work to build our financial security, we’re always playing catchup.”

Her words hung like a rain cloud about to burst when Paul began to speak. “I know, I know. I just can’t help it. I get nervous that we’re going to lose all our money. When the market goes down, I scramble—in my thoughts and in my actions. The driving force behind it is: At least if it’s in cash, the balance won’t go down.”

This is the moment where I felt I could lend my advice. First, I needed to learn about this particular couple and their values. Then, I could begin helping them take control of their finances.

“Tell me Paul,” I said. “What did you learn about money growing up? What messages did you hear as a child about money? From your father? From your mother?”

Paul’s eyes moved up and to the left, indicating his mind was reaching for memory. “My parents never talked to us kids about money, really. The one thing that stands out is my grandfather talking about The Great Depression and how it was such a tragic time. My parents both worked, but they never made a lot of money. They fought about money sometimes.”

“Any other memories about money?”


“Actually, yes. I remember when my father took me to the bank to open up a passbook savings and how exciting it was. The bank manager typed the passbook on this old manual typewriter and gave it to me. He showed me how the interest on the account added to the amount I deposited. I felt very grown up that day! But I guess that was the sum total of money training from my parents.”

“Can you help me understand how you and Laura make financial decisions?”

The question couldn’t be more impactful if a boulder had landed on his head. While Laura looked at Paul with a mildly accusatory glare, Paul searched for something to say that would keep his well-conceived protective fortress from crumbling. I interjected to ease the tension. I could feel the guilt in the air.

“Let me frame that another way, Paul and Laura. We all do the best we can as we live our lives. Let’s face it, our lives are filled with responsibilities in our families and our jobs, not to mention outside interests, health, and friends. While financial issues are important, unless you either have the knowledge and experience—or the help, most people avoid getting too deep into the confusion of managing their finances by doing the very least they can. What we don’t know scares us. So we defer, delay, make rash decisions based on our lack of time, knowledge, desire. Add a dash of fear to that equation, and you have a formula for financial problems. I want you to know, you are not alone. It’s more common than you could even imagine. The question is, do we allow the truth in so that we can move forward?”

It’s important to admit the truth behind our actions in order to rectify past and future mistakes or regrets. Living in denial only perpetuates making decisions that could potentially lead to financial disaster.

“I hate to admit it,” Paul said. “I guess in my desire to protect Laura from stress, I’ve made decisions that have hurt us, and I’m sorry. Michael, you hit the nail on the head. You defer, avoid, and allow your emotions to take over. And as a result, bad stuff happens. I think I’m ready to ask for help.”

Laura’s expression softened, and said, half-kiddingly, “You think?”

Michael Kay
Advisor
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I founded Financial Life Focus because I wanted to work with people who put your success at the forefront of everything they do; people who understand that finding balance is ... Click for full bio