Financial planners risk losing market share if they don’t quickly adopt video for their communication and marketing strategies, says Fiona Parker, General Manager, Wealth Know How.
“Video content will account for 69% of all consumer online traffic by 2017, according to a recent global Cisco study,” Ms Parker said.
“This research confirms that planners need to move with the times as their clients are embracing digital media, and many are already viewing video to explore and address their financial planning options.
Ms Parker says that Wealth Know How, Australia’s fastest growing provider of video financial education topics for financial planners, has been able to compete successfully because they provide clients with information in the form they want it. Wealth Know’s short, professional educational videos meet a gap in the market for credible and non-product based information on financial topics.
“All of the research points to video dominating email marketing, social media as well as online,” said Ms Parker. “We are already seeing big financial institutions leading the charge by embracing video in their overall marketing strategies,” she added.
Phaedon Vass, Co-founder of Wealth Know How, says that small and medium businesses who put videos front and centre of their internet and email marketing strategies will capture growth in the market.
“Nielsen research states 64% of marketers expect video to dominate their strategies in the near future,” he said. “It is becoming apparent that the potential reach of video is beyond comparison with any other form.”
“YouTube receives more than one billion unique visitors every month – that’s more than any other channel, apart from Facebook.”
Vass says that part of Wealth Know How’s success is because financial planners are always looking for new and creative ways to get their content to prospective clients.
“Video offers an easy, direct way to engage directly consumers, particularly when providing financial education,” he said “We are also finding that users are increasingly sharing the video with other consumers.”
“Our approach is to try to attract consumers who are wary and weary of traditional sales approaches and win their trust.
“The real outcome for Wealth Know How clients is that viewers are spending longer on financial planner’s websites and spending more time interacting with their brands.
Wealth Know How offers an extensive and growing library of short, easy to understand financial educational videos for use on websites and across a range of digital marketing tools.
“Its important that video content is professional, credible and cost effective in delivering positive outcomes for both our clients and consumers,” says Ms Parker.
