Unless you are brand new to the world of financial advisor digital marketing – or any form of social media for that matter – it’s likely that you understand the value of video content for your RIA. Perhaps you have already created a catalog of video content, or maybe you’re just getting started by adding video to your website and other marketing efforts.
Either way, you’re on the right track if incorporating video into your overall financial advisor digital marketing strategy makes economic sense. However, video content alone may not produce the results you are seeking. Having the right means of organizing and distributing video content is the critical piece of the puzzle. Read on for how to choose the best video hosting service for your RIA.
If you’ve created a video, you’ve likely noticed that the files can get very large, depending on the length and quality of the video. Uploading and hosting videos on your own website isn’t recommended because of the sheer amount of bandwidth and storage space they would use. Additionally, a typical RIA website doesn’t have the necessary compatibility for all users, including those on mobile devices.
This could result in a poor experience for those trying to watch your videos and ultimately contribute to lost video views, website visitors, and prospects for your advice and services. Instead, a better alternative is to use a video hosting service to handle the load, while allowing for a seamless experience for your video viewers.
What Does a Video Hosting Service Do?
Simply put, a video hosting service is a free or paid service that allows the content creator to upload videos and make them viewable to others. All platforms allow for the content creator to control what visitors have access to, and some even allow for password-protected files and other means of controlling the level of viewability any given video has for the public.
These platforms take on the burden of hosting large files and have optimized viewing options, often including apps for mobile devices.
Choosing the Best Hosting Service for Your RIA
Once you’ve decided to use a video hosting service, the next question is how to choose the right one for your RIA.
While no one can make that decision for you, here’s a deeper dive into four of the most popular video hosting platforms and what they offer for financial advisors:
YouTube
Arguably the most popular video platform on the planet, YouTube hosts videos about everything and anything under the sun. It’s free to use—which is a big plus—and integrates nicely with Google platforms, given that it is owned by Google’s parent company. However, just because the platform is the biggest doesn’t mean it’s the best for your financial advisor videos.
For example, YouTube isn’t always associated with the most professional content. This is partially because of the range of content provided, but also because there are often ads shown before videos. Content creators have little to no control over the ads shown, which can be a problem for financial advisors on many levels, not the least of which is compliance.
Additionally, because of YouTube’s connections to social media, after one of your videos plays, the platform makes recommendations on what the user should watch next, which is yet another thing that cannot be controlled by you – the channel owner.
Why the potential confusion? This is how Google and YouTube monetize the value of their traffic.
Vimeo
Vimeo is a video hosting platform that is directed toward creative professionals, which off the top makes it a better fit for RIAs than YouTube. While smaller than YouTube, Vimeo is known for having high-quality videos and there are no ads on this platform.
That said, however, to access all the features of the platform there is a monthly cost associated with utilizing this service. The basic (free) account level offers limited video file storage, limited bandwidth, and other basic features. Again, complexities are created by the need to monetize the value of their traffic.
However, for financial advisors looking to make the most of their video content, a paid plan offers more robust features such as video editing, collaboration tools, in-video CTAs, lead generation, and more. Vimeo is a professional step up from YouTube while also remaining quite affordable for small RIA firms looking to appear more professional and appeal to a larger audience.
Wistia
Wistia is another video hosting platform that is popular among marketing professionals. This is true because it is a premium platform based on both cost and capabilities. While there is a free option, it’s quite limited in its features and is meant more for sampling the platform than anything else.
As an example of the robust capabilities, in addition to hosting high-quality videos, Wistia also serves as a marketing platform that offers analytics on video views and opportunities to capture lead-generating information to enhance the relationship with those who have watched your videos.
This includes engagement rates, conversions, and even visitor tracking information. Wistia can be integrated with your CRM software to help contacts proceed through the sales funnel and make the most out of every video view.
VidYard
Currently considered one of the most dynamic of the professional video hosting platforms, VidYard stands apart from the crowd when it comes to automation, engagement, personalization, analytics, and overall ease of use. It’s safe to say that every feature mentioned for the above platforms is included with VidYard’s paid plans.
However, here are some features that make this platform stand out from the rest. When it comes to automation, VidYard goes to the next level by offering automatic video transcription with no manual intervention needed. This not only offers enhanced SEO to your video content but also creates more ADA-friendly content.
Another offering that sets VidYard apart from the others is the level of personalization the platform can offer. With automated video personalization, VidYard can incorporate the video viewer’s name and/or other relevant information to increase engagement that much more.
Ultimately, each of the marketing platforms described above has their own merits based on your needs and budget. By understanding the capabilities of each one, RIAs can make the best decision for their unique situation while having the flexibility to change platforms if warranted down the road.
