ROI-Focused Video Marketing Strategy for Financial Advisors

This article is adapted and evolved from content originally published by NAPFA Advisor, authored by Authentic Advisor Video’s Kerri Feazell. To read that article, click here.

An advisor recently opened a sales conversation asking me: “What would it cost to do a short video?”

It’s not a bad question, but if I provide the simplest answer, I’m doing him a disservice. It’s a bit like one of your prospects asking you: “What does it cost to buy a stock?”

As an advisor, you provide a human-centered service. You may have a knack for it, but if you’re a successful financial advisor, you’re so much more than a stock picker. 

And I’m more than a video creator. I help advisors differentiate themselves using the powerful medium of video to share their unique personalities. 

Having this strong sense of purpose is a key reason why I enjoy working in the framework of marketing strategy for financial advisors. But first, I can’t help you get to the ROI you want to achieve if I don’t know your goals. 

And I need to walk you through that before I can answer the question: “What would it cost to do a short video?”

What’s the goal of your short video?

Begin with Goals: Marketing Strategy for Financial Advisors

You have a planning process for your clients. And it’s based on identifying their goals, right? 

A proper video marketing strategy for financial advisors works in a similar way, generally focused on annual goals. 


Great Sample Goals - Video Can Help

Video isn’t going to operate in a vacuum to achieve these goals (you need a website with calls-to-action, at the very minimum). 

But when you’re thinking through how video fits into an overall marketing strategy for financial advisors, video content can tie specifically to ROI-focused goals like this:  

  • Hire 30 advisors this year who are well-aligned with the firm’s culture  
  • Increase revenue by 20% over the next 12 months
  • Gain 1 new client in my target market every month
  • Decrease time spent on the phone with unqualified leads by 25%
  • Double website conversion, converting visitors to prospects, measured by number of calls booked through website
  • Decrease staff time spent onboarding new clients by 10%
To go a little further on that one, here’s a short video I made (DIY style) as part of our weekly quick tips series. It’s a simple idea that can help you reduce time onboarding new clients by using video, strategically: 

Care to see some samples of videos we created for a client that helps them reduce their time onboarding new clients? Contact us and ask to see our onboarding videos for JL Bainbridge. 

Not-So-Great Sample Goals - Why Video?

It’s usually a mistake to consider video a vanity project. If you have extra marketing budget to burn or want to experiment by adding video to your website to bolster your brand, I won’t stop you from hiring us. If getting super creative for the sake of marketing experimentation is the challenge, that sounds fun!

But even then, if you’re not focused on achievable goals tied to ROI, you’re really missing out on the power of video and it’s well-earned place in marketing strategy for financial advisors. 

These goals are not-so-great because they pull focus from business ROI: 

  •  My goal is to have a video because marketing experts all say you need video on your website. I don’t disagree. You do need video. At minimum, it helps boost your SEO. But having a video on your site–any video at all–can actually undermine your brand. If it’s a stiff and formal scripted video that doesn’t convey the personality and vibe of your firm, it might actually be hurting your marketing efforts. (Interested in creating a DIY video that is not boring? Check out our online course. We also partnered with FPA to offer members a discount, when purchased through FPA.)
  •  My goal is to make weekly content for social media. Why? Making weekly content for social media can absolutely be a legitimate video marketing strategy for financial advisors. (I do this too!) But, I don’t recommend content itself as the end goal. Relate this goal to strategic brand-building and audience-building as part of a larger marketing plan. In that the case, define both your messaging and your target audience with absolute clarity and make sure your video content aligns.
  • My goal is to go viral and/or become an influencer. While building a library of educational videos for your clients can help you educate them and give credibility to your brand (I do recommend that), if your primary goal is to become a YouTube influencer, you should focus entirely on what it takes to become an influencer. I have friends who make their living this way. It’s not easy. Unless you’re already famous, it is far more time-consuming than a full time job to build and sustain a meaningful YouTube following. Focus on video content designed for your niche target market, not view count. If you happen to go viral, what a fun bonus! 

Benefits of Marketing Strategy for Financial Advisors

If you believe strategy gets better results for investors, why not apply the same wisdom to marketing? There are so many benefits: 

  • With strategy, you get advice from a professional.
  • With strategy, you clarify challenges and discover creative solutions.
  • With strategy, you gain an advantage over competitors who aren’t using strategy.
Strategy in action might take some time to work but that time is going to go by whether or not you invest in strategic video content or not. 
Curious to see how a video marketing strategy can generate real ROI? We’re always here to help
Working with us is easy and started with a phone call.