Engaging your target audience is a non-negotiable in the financial industry. At face value, you are managing people’s money; however, what you’re really doing is building relationships. If you want customers to trust your expertise and build a successful business relationship, there must be a genuine level of connection.

Video has become a key component in marketing, and for good reason. It is a powerful tool to engage viewers and connect customers with products. At this point, if you’re not utilizing video in your marketing program, you’re missing out. Your customers expect it and your competitors are already doing it.

On average, most people spend 18 hours a week consuming video online. A big portion of this is done on social media channels. By showing up where your customers spend the majority of their time online, and catering to them with the content they prefer, you are more likely to build valuable connections.

A major benefit of video is that it improves audience retention, i.e. the amount of time someone engages with your content. Users are more likely to engage with video content than any other type of content. Studies show that viewers will retain nearly 95% of information if it’s given in video form. Video offers a convenience for users, due to its ease and effectiveness in conveying messages. When using video as a marketing tool, your business stands a higher chance of lingering in the minds of your audience and leaving a lasting impression.

Because users are more likely to stay on video content longer than static content, this leads to increased engagement. Increased engagement, however, doesn’t merely result in more video views. It can also improve conversion rates, support SEO, and drive traffic to your website, all ultimately increasing revenue. Studies have shown that businesses that use video marketing grow their revenue 49% faster than those that don’t. That’s a lot of benefits rolled into one.

Your customers are looking for expertise they can trust. Video fosters a sense of connection between a brand and its audience, allowing for a more personable interaction. As you highlight your business’s values, feature positive client testimonials, and showcase what your business brings to the table, you are connecting with your audience. This connection builds trust, positioning your brand as credible and reliable in the eyes of consumers.

If your goal is to build sustaining and successful relationships with your customers, the many benefits of video may just be your solution.