Turns out Youtube is more than just a website for music videos and cat clips — viewers appreciate educational and informational segments, as well.
"Every day, people watch hundreds of millions of hours on Youtube," Sundar Pichai, chief executive of Google, said during parent company Alphabet Inc.'s most recent earnings call. "People turn to Youtube because they want to research, buy or fix a product."
Advisers can take advantage of this trend by offering research-driven videos.
"We are starting to see more educational videos rather than self-promotional videos," said Amy McIlwain, author of "The Social Advisor: Social Media Secrets of the Financial Industry" and vice president of social and digital strategy at Moore Communications Group. "It is this educational-type video educating consumers that is really powerful and what consumers are seeking."
Joe Bert, founder of Certified Financial Group, said he and his firm use their videos, which appear on Youtube and as television segments, to convey direct and to-the-point messages. His firm has produced videos on Medicare, “money milestones” and how millennials can become millionaires.
"Youtube has become the new TV," Mr. Bert said. "People today want to watch video as opposed to reading, so if you have something compelling, where you can tell a message, they will want to watch that."
Advisers recognize Youtube's potential, along with that of other social media channels. A 2015 Cogent Report survey found that LinkedIn is currently the No. 1 platform used by advisers, with 74% saying they use LinkedIn, followed by 75% who say they use YouTube, 65% who say they use Facebook and 32% who say they use Twitter in some professional capacity.
Mr. Bert said while some advisers are using Youtube now, more are bound to jump onto the video website in the future. It may get overwhelming.
"It can only increase, and frankly become saturated," he said. But there's potential to dissect the competition.
"If the videos are well done, it will establish or reinforce credibility," he said.
He added advisers should invest the time to do a series of videos because one or two won't cut it.
Videos should be about 90 to 120 seconds long. Ms. McIlwain said no fancy studio is needed, just a quality microphone and valuable content. Some people even just sit at their desks.
"That's what people are really looking for: authenticity and transparency," Ms. McIlwain said. "Don't try to memorize a long script. Be authentic and show your expertise and knowledge in this area."
