We live in a video era.
There is virtually no question you can ask that cannot be answered by a video. The “search” tab at YouTube is the Library of Congress for information in video form.
Investors have discovered that they can find out questions about investment issues or financial products on the internet, and many of them prefer to have their answers presented to them in video form.
Ever since the creation of YouTube and the progress with presenting video clips on the internet, financial videos have been one of the more popular topics addressed on that platform (following cute puppies and kittens). The information presented can be financial news, educational background information on investing and the stock market, or comments from financial experts.
The investors for whom investing is a daily pursuit and active interest watch financial videos. If there are videos available on the website of their financial provider or advisor, they will watch that as well. In fact, many investors prefer to go to their advisor’s website to find applicable videos.
That begs the question: Advisors, do you have the videos your clients want to watch? If you do, they will watch them - on your website.
Advisor and financial provider websites can offer videos of several different types in order to engage, inform and encourage investors. Stock tips are out of the question for advisor websites, but informational videos and information about current financial events are fair game as long as they do not give specific advice.
And investors want them. According to Spectrem’s quarterly wealth segmentation series study Using Social Media and Mobile Technology in Financial Decisions, 29 percent of all investors watch videos on financial websites, and that includes 42 percent of Millennials and 34 percent of Gen X investors, who are likely at the height of their need for financial information.
There are a large number of reasons for advisors to present financial videos on their website.
“Financial providers and advisors are actively engaging with clients and potential clients on their websites, but an increasing number of investors today want to get their information from video presentations rather than from reading,’’ said Spectrem president George H. Walper Jr. “There are videos that have a long shelf life and those that are more immediate, but investors are interested in watching them and will return to websites that offer the videos they want to watch.”
These are not just Millennial investors watching, either. Among the 25 percent of World War II investors who watch financial videos, half of them watch education videos or videos by financial commentators, and 61 percent watch videos on current financial events.
That’s an audience looking for something to watch.
Videos on current events are the most popular financial videos, attracting 59 percent of all investors who watch videos. Educational videos attract 54 percent of that crowd, and 64 percent of Gen Xers.
Investors prefer videos on websites of trusted financial authorities rather than just chasing a topic on YouTube. Fifty-two percent say they want to watch videos on their advisor’\s website while only 15 percent want to do so on YouTube.
The value in presenting videos is enhanced when the videos are altered or updated. Investors who are active on the internet hate static websites that do not change their content frequently. A staffer dedicated to video presentations and content might be necessary to maintain a vibrant package of video information for investors to view.
Top Takeaways for Advisors
Obviously, when investors visit an advisor’s website to watch a video, there is the possibility of attracting them to services the advisor offers.
The value of presenting and maintaining a video presence on your firm’s website is significant and growing. Videos can present a call to action that could engage and encourage an investor to place a call to his or her advisor for more information or to take action.
©2017 Spectrem Group