Financial advisers who do not incorporate videos into their client communication and marketing strategies run the risk of losing their market share, according to an educational video provider.
Fiona Parker, general manager of Wealth Know How, a consumer-facing education service co-founded by Instreet director George Lucas, said that according to a global Cisco study, video content will account for 69 per cent of all consumer online traffic by 2017.
“All of the research points to video dominating email marketing, social media as well as online,” Ms Parker said. “We are already seeing big financial institutions leading the charge by embracing video in their overall marketing strategies.
“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,” she said.
Wealth Know How co-founder Phaedon Vas said small and medium-sized businesses that put videos at the front of their internet and email marketing strategies will capture growth in the market.
“Nielsen research states 64 per cent of marketers expect video to dominate their strategies in the near future,” Mr Vass said.
“It is becoming apparent that the potential reach of video is beyond comparison with any other form,” he said.
Mr Vass also said videos offer an easy and direct way to engage directly with consumers, particularly when providing financial education.
“We are also finding that users are increasingly sharing the video with other consumers,” Mr Vass said.
“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,” he said.
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