Why Are Asset Managers Expanding Beyond Thought Leadership Video?

By: Stu Siegal
Executive Producer/Creative Director, VLCreative
PAICR Gold Sponsor – Videolink
www.vlcreativegroup.com

Video has become an essential marketing tool for asset managers of all sizes.  Its power to forge a personal connection with portfolio managers who have been entrusted with great responsibility is now widely accepted and utilized. The good news for financial services marketers is that many asset management firms now regularly create Thought Leadership video, and that’s being well received by its target audience.

It’s also the bad news.  Sort of.

Because the bar has been raised, asset management firms now find it challenging to cut through the rapidly growing clutter of thought leadership video. Static videos of portfolio managers (PMs) in conference rooms discussing their philosophies, strategies, and perspectives are still an effective tool in the video marketer’s toolkit, but they are no longer enough on their own. As more and more of these types of videos are published, they can very quickly start to look too similar to each other.

So, what are smart marketers in asset management starting to do?

They’re thinking visually. They’re utilizing story and character. And they’re focusing on presentation delivery and tone in ways that can help differentiate their brand and their talent.

We recently completed a series of asset management profile videos that are a great illustration of how to get creative, tell a story, and establish your brand as a thought leader. Here are the three steps we took to help the brand and its sub-advisors stand out.

  1. Find a Story – Stories have a unique power to move people emotionally and intellectually. The end-goal of thought leadership is to make your PM’s relatable and trustable. What stories can you tell that will accomplish this goal? To find them, we held conversations with the brands in this series to discover who they were as people, and what their interests were outside of work.  In addition to meeting some very interesting people, we followed a creative path that led to a series of thought leadership videos featuring PMs connecting their professional philosophies to their hobbies. These included surfing, archery, and enjoying fine wines.
  2. Think Visually – Surfing, archery, and wine each made for distinct visual metaphors for the abstract topics involved in asset management. They instantly made their brands stand out amongst their peers. And because they were all tied to the stories of the portfolio managers, they brought an added layer of authenticity to each video. They were also a refreshing break from the traditional talking head approach to video.
  3. Focus on Character – Successful asset management is built upon performance, but performance is driven by portfolio managers, analysts, and management teams.  By focusing on those individuals as real people, we were able to maximize the ability of the video to help investors connect to them.  That connection builds trust and confidence in the investment team, both key drivers of ROI.

Thought leadership video is and will continue to be a staple of video marketing in the asset management space. The forms that it takes, however, will continue to grow and evolve in step with the changes in the video marketing landscape. The brands that take a fresh look at the format and tell great stories about interesting people are the brands that will cut through the growing clutter and earn the visibility and interest that all content marketers seek. So, what’s your brand’s story?

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So Many Channels – So Little Time

By: Deb Well
PAICR Board of Directors member
PAICR Member since 2006

In the beginning, there were three: Facebook, Twitter, and LinkedIn. You had to decide which of these channels made sense for your firm, work with Compliance to form a process everyone was comfortable with, and then move forward. All was good.

But now we also have Instagram, Pinterest, Snapchat, YouTube, and different permutations of the existing platforms: Facebook Live, Instagram Stories … and the list continues to expand! That’s made the decision of where and how to distribute your content more complex – in addition to the burden of maintaining active feeds in all of these channels.

Maybe you think you don’t need to consider going beyond the basics. But if you don’t consider it now, you risk being left behind. Video and visual assets are dominating online marketing. You need to have a visual content strategy and consider distributing your content via the channels where visual plays best.

Here are three quick tips to effectively expand your social reach and help you successfully expand beyond the basics:

Every Picture Tells a Story

If you have been involved in marketing on Facebook, Twitter, or LinkedIn, I am sure you are familiar with the stats on how posts that include visuals – pictures, video, or even emoji – get higher engagement stats. One such stat shows that Tweets with images earned up to 18% more clicks, 89 % more favorites, and 150% more retweets.

If you are already using visuals on these main platforms, is it such a stretch to think of how you could leverage them on Instagram or Pinterest? Or that video content on YouTube or Vimeo? As stated in a previous post, you have 8 seconds to get the average person’s attention. Today’s fastest-growing channels are visual based. Estimates are that 84% of communication will be visual by 2018. So you need to act now!

One Size Doesn’t Fit All

How annoyed do you get when you see a text-only tweet that is just a link to an Instagram post? Plenty of sites allow you to post to other sites at the same time. So, when I post the cute pic of my cat, Buttons, to Instagram, I have the option to post it to Facebook, Twitter, and Tumblr. However, just because you can doesn’t mean you should. Messages should be customized to take advantage of what works and resonates on a platform. It is fine that your posts in all these different places may ultimately lead to the same source content. After all, these platforms, and those who you reach on them, often represent widely different audiences. That’s why your message should be tweaked to fit the specific audience you are addressing.

Failing to Plan is Planning to Fail

While some of your content is going to be more “spontaneous” – something big happens and you need to respond in the moment – most of your content strategy should be planned out. That doesn’t mean a plan that’s “set in stone.” Your strategy needs to evolve to reflect data and analytics on which content is succeeding and where. That’s why you really should be using a social media management tool or a social media aggregator. Whether that is Hootsuite, Buffer, or any of the numerous others out there, these tools can help you:

  • Queue up content ahead of time
  • Provide analytics on what is succeeding (and what isn’t),
  • View interactions
  • Find relevant related content to share, and
  • Adjust your sharing and strategy based on insights you’ve gleaned

The Tenets of Success

Build. Measure. Learn. Repeat.

Start small. Test concepts. Don’t be afraid to fail, and don’t be complacent.

These are the keys to an effective and efficient plan to improve your social media reach. The ways in which you effectively communicate with your audience is rapidly changing. You don’t want to be left behind.

Financial Services Stories are Emotional Stories

By: Stu Siegal
Executive Producer/Creative Director, VLCreative
PAICR Gold Sponsor – Videolink
www.vlcreativegroup.com

It’s safe to assume that we’ve all seen, liked, and shared a funny ad or an online tearjerker video produced by a brand.  At first glance, the popularity and success of emotion-driven videos may not seem like a natural fit for financial services videos.  Within the industry, there’s a frequent perception that financial services videos should focus on performance, numbers, or value.  And while these are often components of finserv videos, recognize that there’s always a core emotional component just beneath the surface that can make the difference between a good video and a great one.

Trust within the Financial Services industry is at an all-time low; the industry generally ranks just below oil companies in terms of trustworthiness and favorability.  Trust and confidence are powerful emotions, as are empathy and passion.  Video is a medium ideally suited to communicate nonverbal concepts. Consumers want to watch videos that they can emotionally connect to, and opportunities abound for brands that use video to drive trust and confidence.

This concept extends beyond B2C video to Thought Leadership, a staple of B2B finserv video.  During a recent PAICR webinar I hosted with Gail Graham, who until recently was with United Capital, Gail noted that for execs on camera, “It’s really important to relax and be human. (At United Capital) we have a saying, we’re not B2C, we’re not B2B, we are human to human. So, the relaxation, the communication, the eye contact, and the smiling; really matters when you are dealing with your customers” … “Produce short, animated, 30 to 60-second videos that tell people what you should expect or what you’ll get by working with your firm. Those are just two areas that we are looking to push, and again give people that sense of understanding beyond the formality, the formal exterior that they see so much.”

Customers are tired of seeing the ‘engine room’, as Gail calls it, and expect a higher level of intimacy than in years past. Columbia Threadneedle Investments, the asset management division of Ameriprise, is taking the same approach.  Andrew Most, VP of Creative and Content Strategy at Columbia Threadneedle noted “We are presenting a level of intimacy in the format of thought leadership, so our customers understand the people and the thinking behind these products are real power-houses in the industry. We want to make sure they have that same level of confidence in their advisor who is selling our product”.

Confidence and trust are powerful emotions that play key roles in a customer’s overall perception of your brand. Financial Service brands who are committed to content that connects on an emotional level are winning back their customers’ trust and succeeding in the industry. On your next project, think about how going deeper than a story about performance, philosophy, or experience, by directly addressing the emotions beneath these topics, might drive a greater return on your videos.

 

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