The internet sub-genre of “cats doing various things” notwithstanding, online video is a serious business tool that can yield tremendous benefits for hedge fund firms and other financial services companies. If you don’t already have a plan for video marketing, here’s a rundown of why you need to start planning it now.
1. Clients want it, expect it
The numbers are clear: 72% of consumers prefer to learn about a product or service through video and 85% say they want to see more video from private companies.1 The average user spends 88% more time on a website when there’s video content.2
2. Social media platforms are there: use them
More online video content is uploaded in 30 days than the major U.S. television networks have created over the past 30 years. Each day, more than 500 million hours of videos are watched on YouTube, the second most popular social network.3Other ubiquitous social networks, such as Facebook, Instagram and Twitter, have amped up their capacity to help users create and post video content. And don’t forget one of the most powerful features of video on social networks: shareability. If relationship marketing and networking are part of your client acquisition strategy
, then shareable videos could be a key contributor to your success.
3. A road show, minus the road
How much of your client acquisition strategy is based on face-to-face meetings, conferences and presentations? While video cannot completely replace in-person interactions, video content enables you to reach a wider audience with less travel involved. A video of one of your principals explaining your investment philosophy
can be an extension of your traditional relationship-building strategies and enable you to further leverage your existing marketing efforts.Related: One Way to Keep up With an Industry That Is Evolving Quickly
4. The power of the explainer
Explainer videos are short, engaging marketing videos, often animated, that can highlight the solutions a company offers and detail potentially complex processes in a succinct and memorable way. Know a firm that could benefit from that? Studies show that 74% of users who watch an explainer video end up purchasing a product or service.4
5. Quality of content matters most
You don’t need to hire Christopher Nolan to make effective marketing
video content. Users tend to pay attention to the actual substance of a video over its production value.A Wyzowl study reported that more than 60% of users who reached a negative purchasing decision as a result of a bad marketing video did so because the video did not explain the product or service in enough detail, as opposed to various issues with production, design or animation quality.5Video marketing doesn’t have to be onerous, but can be more impactful if you work with the right partner. You’ll need someone with professional video production resources and deep expertise in the financial services industry
. With the right service provider, video content can represent one of the best marketing decisions your firm can make. To learn more about ramping up your online video presence, contact us at 1.844.243.1830 or [email protected] .
Sources:1 Adam Hayes, “The State of Video Marketing in 2018,” HubSpot, Jan. 24, 20182 T.J. McCue, “Video Marketing in 2018 Continues to Explode as Way to Reach Customers,” Forbes, June 22, 20183 “8 Powerful Reasons You Need to Use Video Marketing,” DreamGrow, July 10, 20184 “The State of Video Marketing 2016,” Wyzowl5 “The State of Video Marketing 2016,” Wyzowl