26 Jan Is It Worth Investing in Financial Video Production?
With YouTube now the second-largest search engine, and video set to dominate internet content in the not-too-distant future, IFAs are rightly asking – what place does video hold in my marketing strategy?
Is it worth investing in video production for financial advisers?
The statistics above would suggest that the answer is obvious – yes! Yet many IFAs wonder if they can afford the project costs, and what results they can expect if they can.
The Financial Video Production Landscape
Broadly, we say there are broadly two types of financial video.
First, there is the bespoke, high-quality kind. This is where you get a crew on-site to film your staff, offices and potentially your clients.
Second, there is the animated “explainer” video. This usually consists of animations and slides, accompanied by background music and some explainer text.
The former is a much larger project requiring more investment. Yet the result is a high-quality, bespoke presentation where your brand, people and message are powerfully communicated in a concise way.
The latter is a lower investment and shorter project turnaround. These do not hold the same level of power and impact as the former, but are still hugely effective for communicating who you are, what you do as a financial firm, and how you do it.
Of course, the question still lingers – is it worth investing in financial video production? To answer that, let’s unpack these two types of financial video a bit more – to see what’s involved, and what you get.
Type 1: Bespoke Financial Videos
There’s no escaping the reality that bespoke, detailed videos require a good injection of investment. Usually, you’re looking at 4 figures at a minimum. Sometimes 5, depending on the project brief.
This might sound like a lot. Yet consider for a moment some of what’s required just to cover one day’s worth of filming, on-set:
- Costs to cover two crew members for the day.
- Costs to hire and maintain the equipment (many of these items are worth thousands of pounds).
- Costs of travel to and from the filming site
- Costs for the video story-boarding
- Costs to source high quality, original music
- Costs of sound production and editing
- Costs of graphic / animation production and editing
- Costs of editing and amending in light of client feedback
As you can see, a video like this would take a good amount of time, effort and resources to put together. Yet the result is, typically, marvelous:
- An original, engaging presentation articulating the value of your brand and service.
- A human touch and authenticity is conveyed, due to staff being depicted in motion and speaking.
- More brand value communicated communicated in a shorter amount of time. (Think about it. If a picture speaks a thousand words, then how many more does a motion picture?)
- A potent, re-usable brand asset that can be deployed across multiple marketing channels – e.g. social media, PowerPoint presentations, pension seminars and more.
Here are some examples of the kinds of financial videos we’re talking about:
Type 2: Animated, “Explainer” Financial Videos
As mentioned above, these financial videos are different in that you do not directly need to step in front of a camera for this project to work.
You do not even necessarily need to speak, or have a camera crew with expensive equipment out on-set. This means that the project is faster to turn around, at a lower investment (sometimes, below 4 figures).
Rather, these videos use compelling animated graphics, slides and explainer text to get the message across in a powerful, concise way. Some examples include the below:
This type of financial video can be a great option for smaller IFAs and start up financial firms, who recognise they need to tap into the power of video, but have a more limited budget.
Summary: Is It Worth Investing in Financial Adviser Video Production?
It’s an odd question really because we’ve tucked the word ‘investing’ into that title. It wouldn’t be right if we’d said you could “buy” financial video production. Although you can obviously, technically do this, it doesn’t give you the full picture. Really, you’re investing in a brand asset.
Financial video production enables you to show people who you are, right there on your website. This is very powerful because it provides you with the ability to connect with people before they even contact you.
It does mean you need to have a well thought out message before you get in front of the camera. However this is easier to do when you opt for financial video production. With the right team helping you achieve the results you want, you will have a superb new addition to your website.
So if you are disappointed with the number of people you are converting from visitors into potential clients, this could be just what you need to improve things.