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Make Financial Advisory Less Boring

By: Olivia Slade-Silovic | January 10th, 2019

Financial advisory is boring. Some would say it’s as painful as watching paint dry.

BUT, being financially literate is more important than ever before!

Think about it for a second.

The need to make logical financial decisions is all around us.

From simple tasks like grocery shopping within your budget to calculating the percentage of your salary that should be put aside for your children’s college tuition.  Understanding the key concepts behind making important financial decisions is essential to success in our everyday lives.

Most of us aren’t born with this type of knowledge, nor is it something they teach us in school.

This is where financial advisers come into play. They’re here to plan with us, educate us, and be our loyal partner in navigating the confusing world of finances.

Unfortunately, financial advisory is far from exciting. It doesn’t come with flashing lights or exhilarating sound effects. Financial advisers are tasked with the challenge of simplifying increasing complex financial concepts for their clients. 

Enter: Video.

This versatile communication medium, with its visually appealing format, can be an extremely effective tool for financial advisers.

Instead of reading about financial responsibility [yawn], what if you sent your clients a quick educational video?

You can help your customers get the most out of your financial resources by providing short, personalized, recordings that highlight all of the important information you want to share. Not only does this make for a highly customized approach, but it also makes all that financial mumbo jumbo seem way less boring.

Here are 5 ways you can incorporate video into your consulting strategy:

Educational Videos

Like we already mentioned before, financial advisory can not only be boring, but confusing too. Many consumers are left in the dark when it comes to understanding their finances, loans, savings and even credit scores. Providing a simple explainer video is one of the most effective ways to quickly show your viewers a big idea. It’s important that this video is short, engaging and breaks down a large concept. Make it light, entertaining and informative!

Tools & Services Description

Ever heard of the old adage, “If a picture paints a thousand words, a video paints a million”? There are so many products and tools on the market that make personal finances so much easier to manage, but how will you differentiate your service from the others? Video can help you bring your products to life by demonstrating how they work in real-time. It also gives you the opportunity to explain what problems your product will help your customers solve, making your viewers so much more confident in your product.

Personalized Finance Updates

As a financial adviser, you’ll know the ins and outs of your clients’ financial health. Part of your task as an adviser is to help your clients understand how to meet certain personal goals. Sending them regular personalized finance updates will help them keep track of their spending, budgeting and saving goals. As your clients advance their knowledge, you can also send them complex insurance, tax and investment matters.

In addition to personalized finance updates, you can also guide them toward actions that will positively impact their financial situation. Investing and managing money is your expertise, so don’t shy away from sharing your personal tips via video.

Change Announcements

Video is an effective way to communicate any changes in policies, contracts, stock investments, etc. Whenever an important piece of the financial puzzle is modified, financial advisers should quickly and clearly explain how the changes will affect their clients. Customers appreciate transparency, and video is one of the most effective ways to accomplish this.

Customer Relationship Management

Form loyal and trustworthy relationships with your clients. Nowadays, customers are craving a more personalized experience when it comes to their financial needs. Handling their money is a huge deal. Creating interactive and personal video content adds another layer to the customer experience and helps to humanize customer service. Once you’ve helped them get their finances and investments in place, make the regular statements that you send more interesting. Statements, portfolio updates or significant changes that might impact your client’s financial picture can all be communicated through video messages. By creating a personalized video, you’ll be putting your customer front and center, letting them know that they are deserving of your undivided attention.

That concludes our top 5 ways for incorporating more videos into your customer communication strategy! It’s no secret that this media tool is unbeatable. As a financial adviser, video gives you the chance to create striking content that your clients will appreciate and find especially useful in helping them understand their financial situation. This year, why not set yourself apart from the competition and start sending personalized videos?

Covideo provides video email software that helps businesses and individuals communicate more effectively with easy-to-make personalized videos.

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