The world of financial advisors has changed rapidly over the last few decades. While more people today appreciate the essential role of financial advisors, they also have access to experts worldwide. As a financial advisor, you have to compete in a more competitive business landscape which necessitates a new approach to your marketing strategy. Let’s begin diving into creating a converting financial advisor commercial.
A quick search for financial advisory solutions on a search engine returns thousands of results. Most of these are online service providers offering custom financial plans to clients. But, how do you sustain your practice in this volatile market?
Creating a commercial for your practice might not have crossed your mind but it should. Financial services have, for the longest time, leveraged such ads to reach their target audience. Despite the changes in the advertising landscape, you can still rejuvenate your financial advisory with a well-planned TV or radio commercial campaign.
Do Commercials Still Work?
Despite the proliferation of digital media platforms, many people are still glued to their television sets. According to data from the Bureau of Labor Statistics (BLS), nearly 80 percent of the population watches TV on a given day.
Hence, radio remains a popular medium of communication. A recent Nielsen Study shows over 272 million Americans listen to traditional radio every week. These numbers highlight the potential for advertising on traditional media.
When you fuse television’s visual power and the wide reach of radio in the country, you can activate an effective advertising campaign. Radio and television commercials are easy to tailor to a local market. Thus, with radio, you can even target a local community by choosing a specific radio station.
After going through the 2018 economic meltdown, many homeowners and business owners are ready to work with financial experts to streamline their finances. Ultimately, your work is now to reach potential clients and showcase your services.
A professionally designed commercial is a multi-purpose tool. Take a look at some of its features, shall we?
Advantages of a financial advisor commercial
- Increases your market presence
- Generates leads
- Increases foot traffic at your local office
- Introduces your financial services to your target market
- Generates a conversation on the need for financial services
- Introduces the financial plans you have
- Drives traffic to your business website or social media platforms
- Boosts your visibility on search engine result pages (SERPs)
- Builds trust as most customers interact with brands that advertise
- Spreads the word about your financial services
- Drives engagement levels
Getting Started on your Commercial
Now that you understand the potential of using a commercial, it’s time to get down to business. Of course, many of your competitors are using radio and television adverts to gain traction and grow their businesses.
While these two platforms are highly effective, this doesn’t mean every commercial aired meets its objectives. Many of these advertisements are not memorable which means they don’t click with the target audience.
Below are some factors to consider when planning your financial advisor commercial:
- Understand your Goals
You need to create a checklist of the objectives you wish to achieve. Are you after brand awareness, increased web or foot traffic, or selling financial packages? Your needs will drive the TV/radio commercial design.
- Compare Types of TV/Radio Commercials
You have a versatile range of financial advisor commercial tactics to choose from. Popular TV commercial formats include infomercials, demonstration, explainer commercials, product display, testimonials, problem-solution format, and the comparison commercial-format; parody/borrowed formats and characters or celebrity commercials.
For radio, you have the popular radio spot (15-30 seconds), radio endorsement by a presenter, testimonials, live read, ad-lib, jingle ad, custom advertisement, or sponsored ads.
The choice of ad format depends on your objectives, TV or radio ad budget, and resources available. Always brainstorm with your team before choosing a financial advisor commercial format. The best format is the one that delivers the objectives of your advertising campaign with the least investment.
Therefore, look for TV and radio ad examples and sample them to find new ideas that might work for you.
- Who’s Your Target Audience?
Before you plan your commercial, start by segmenting your target audience. If you reach the right people, it’s easier to achieve your objectives faster and this also guarantees a higher ROI.
Start by conducting market research to find your target audience. Then, identify your potential clients’ pain points, evaluate your existing clients and leverage data from your research and the TV/radio stations.
When doing your research, review your financial services and determine who they’re best suited to. Are you targeting Millennials, baby boomers, or Gen Z? Can you segment your target audience based on income levels, location, or other factors? Create personas of your clients to understand their preferences fully.
- Write the Best Commercial Script
A script is the most important albeit overlooked component of a successful TV/radio commercial. Your script should address major issues, including the purpose of the ad, the value proposition, the target audience, and a call to action (CTA)
Your TV/radio commercial script should also detail the required resources for the radio ad( for instance, voiceover actor, actors, animation for TV ads, jingles, soundtracks, or other props), the length of your ad? (15-second ad or a 30-second ad) and the type of ad.
If there’s any action for the TV ad, make sure it flows smoothly and adds to the advertisement’s value. Every aspect of the financial advisor commercial script should showcase the benefits of your services. The idea is to elicit the desired action from the listener after the call to action.
The words used in the script must also evoke a strong emotional response. They should make anyone who views or listens to the commercial more attentive. The music you choose, characters, and props must all work harmoniously to make your advertisement more memorable.
- Work with a Production Company
Making a financial advisor commercial might look simple until you try to DIY. The last thing you want is to air a poorly-scripted ad while advertising financial services. You’ll look unprofessional, and no one will trust you with their money.
This is why you should work with an established production company. You’ll get access to skilled voice actors, audio technicians, and an experienced commercial director to guide the project. You can sit back and focus on your core business as the professionals run the show.
There’s so much work to do before you can air your financial advisor commercial. Working with an established production company helps you deliver a refined advertisement that will achieve the desired objectives. Your production company has the expertise and resources to create a winning ad from scripting, casting, directing, editing to distribution.