Building trust with video and data

Photo credit: Canvas

By Robin Gonzalez Kristensen, Communications Consultant

Videos are more important than ever, making for 79% of all global internet traffic. Further, according to Statista, marketers will spend $37.4 billion on video advertising in 2021, a 12.5% increase from the previous year. 

The digital transformation keeps having a substantial impact worldwide. This article will discuss some of the biggest video trends in the market and examine video and storytelling as catalysts for trust with clients and stakeholders across industries, particularly in the financial services sector.

Additionally, it will dive into the key trends and effects unleashed by the Covid 19 pandemic.

Why is video so important?

Video has become a dominating content strategy, and according to 91% of marketers, video content is more important for businesses in 2021 than ever. As stated by Statista, video advertising spending will have an annual growth rate of over 5% between 2021 and 2025, which would generate a market volume of $45.5 billion by 2025.


Source: Statista

The stats show that most global internet traffic involves videos that are especially consumed on mobile phones. Technology has sparked a new era of innovative content creation and content creators worldwide.

This trend is clearly illustrated by YouTube´s stats, as the video platform plays over 1 billion hours of video every day. Moreover, according to Pew Research, 73% of adults in the U.S. use YouTube.

Source: Comscore
Source: Youtube

As stated by  Statista in August 2020, 27.2 percent of online viewers watched more than 10 hours of online video on a weekly basis. Data shows that internet users spend an average of 5 hours a day on their mobile devices, and mobile video represents more than 50% of all video plays. According to Forbes, video has the power to capture people´s attention and be more likely to  be shared by Internet users compared to any other form of content.

Source: Comscore

The benefits of video 

Financial professionals can benefit from video in multiple ways because they facilitate understanding and engagement in general. According to data provided by Oberlo, e-learning grew by 36.3 % in 2020, and it is projected to continue growing. 

Linkedin is the most trusted social media platform by business professionals and its platform 

Linkedin Learning had over 17 M users in 2020. A survey conducted by Forbes and Google revealed that 59% of executives would choose to consume content via video over written format, validating the case for videos enhancing understanding and engagement.

  Source: Vision Monday

Building trust through video 

Building trust requires successful communication to encourage audience learning. But what is the best way of communication for establishing trust?

Videos are the next best thing after real-life interaction, allowing us to display facial expressions, voice cues, and overall body language, supporting the engaging responses of viewers.

Emotional connections are made through storytelling, and video amplifies its power to influence audiences and position a narrative supporting specific actions. Moreover, video storytelling is so efficient that statistics performed by Insivia show viewers retain visual storytelling better than textual storytelling, with a staggering 95% of viewers that can remember a visual message.

The power of video webinars 

The future of the investing world is video-based and according to Real Vision, 95% of the message is retained when watching video compared to 10% with text. Data-driven intelligence in financial videos ensures the selection of suitable funds for investors, creating personal connections and building trust when watching asset managers talk about their vision. 

In a post-covid world, everything has become more virtual and webinars replicate both the knowledge sharing and networking from traditional events. The rate of viewers who watch COHERRA´s webinars in full is between 33%- 85%, with an average live viewership rate of around 16% – 33% on-demand (full replays). This is high compared to the view duration number of 18.2 seconds on Facebook, viewers on Facebook watch only a third of a video on average.

Webinars are an important part of COHERRA´s innovative content creation and distribution. They represent a powerful tool for financial professionals to establish trust in a virtual world by increasing their audience and the likelihood of being found by new pools of investors.


Source: COHERRA´S stats from the QTS Capital Management webinar
Source: COHERRA´S stats from the Brookmont Capital: Effects of Biden´s tax plan webinar

Real Vision is also democratizing quality financial research through video, providing investors and traders with a much more engaging narrative on markets, expanding investors’ horizons, and inspiring them to discover uncharted opportunities.

Source: Refinitiv

The future of the investing world is video-based and according to Real Vision, 95% of the message is retained when watching video compared to 10% with text. Data-driven intelligence in financial videos ensures the selection of suitable funds for investors, creating personal connections and building trust when watching asset managers talk about their vision. 


Our content distribution is powered by AI, accelerating the reach of existing content by targeting it to the right audience of savvy investors, thus serving the entire asset management ecosystem with seamless discovery, matchmaking, and engagement. For example, InnoLab, a Copenhagen-based technology-driven asset management company based on deep learning research, and Singaporean Hedge Fund, Noviscient, connected through COHERRA.

How can you use videos on different channels

Now that we know why video is so important, and what we can use it for (e.g. educational purposes and establishing trust), we now look at how we can use it on different channels.

Social media and financial videos

A LinkedIn report found 63% of wealthy consumers take action after using social media to learn about financial products and services. Financial videos and effective communication have the potential of expanding investors’ horizons and inspiring them to envision new opportunities. The world has turned digital making social media and video even more important for asset managers. 

 Source: Linkedin Business

Statistics show that 90% of people with investable assets between $100,000 and $1 million are active social media users. Furthermore, Twitter says 45% of its adult account holders are interacting with financial services firms. Lastly, based on data provided by Insider Intelligence in 2020, the financial services sector was the second-largest spender on digital advertising in the US market, reaching $19.62 billion.

Source: eMarketer

Reddit and video 

Reddit has over 52 M daily active users worldwide and launched its video tool in 2017 after raising $200 million. According to Reddit’s stats, in 2018, 70% of all video viewing on the platform happened on mobile devices. The report also revealed that those who consume video on Reddit spend nearly twice as much time on the platform as others. 

Recently, Reddit was on the front pages of The New York Times, Financial Times, and many others regarding GameStop. Reddit’s “wallstreetbets_” group illustrates a new form of market manipulation and how micro-communities on social media can have an unexpected outsize influence. The episode proved the case for financial professionals needing to become more social media savvy to predict future economic events.

Source: Oberlo

Streaming platforms 

The rise of video streaming platforms like Netflix and Youtube prove the importance of video. As stated by backlinko.com, Netflix generated $24.99 billion during 2020, while Youtube is estimated to have generated more during last year than the $15.1 billion it made in 2019.

Source: Hootsuite

Since the onset of Covid-19, there has been a surging interest in financial topics. For example, in India (Youtube´s largest market), the finance genre has blossomed as many new retail investors have entered the market. In recent months, the YouTube channels of Indian influencers in the finance space have grown exponentially, with each of their videos generating millions of views.

Source: Quartz

Many financial professionals are starting to notice the benefits of communication, video, and social media combined. For example, Cogent Strategic Wealth posts weekly videos on Youtube on various topics regarding the Coronavirus and how to prepare for a recession.

Source: Cogent Strategic Wealth Youtube

Conclusion

The demand for video content is estimated to continue rising. Based on the Cisco Annual Internet Report, by 2022, online videos will make up more than 82% of all consumer internet traffic. In addition, the investment space is rapidly evolving due to digitalization and data democratization. Interconnectedness and the speed of information lay the grounds for a new eco-system for asset managers to communicate digitally with retail, professional and institutional investors.

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