There is no denying that the pandemic has changed us, especially in the way we conduct business. Now, more than ever is the time to take the plunge and adapt to the new world. In our blog post, Video Star-Let Your Video Shine In Your Marketing Plan, we touched on the basics of using video and why it works. Here we will take a deeper look into different ways using video will save you time and money. We will also let you in on a secret. Using video will keep you from becoming dull and forgettable.
Yes, change is scary.
There is a better way to attract new investors, and it starts with the engagement process. It all begins with the first call, meeting, or email. Is it interesting? Is it the same story that you have been using for the past year? Are you sending out a tired email filled with too much information? You can replace storytelling with technology. You can condense all of the necessary information into a well-produced, professional video that can deliver all of the most important items in a concise and pithy manner. The best part is that it will save you time. It will save your client time. And it will allow everyone to focus on the more meaningful and detailed questions.
A video asset is especially valuable when it comes to Due Diligence. It is estimated that time spent on introductory calls, quarterly updates, and travel to events or DD meetings is over 300 hours per year, not to mention the cost of those trips - thousands of dollars. Imagine sending a video that contains all of the necessary information in a convenient and time-saving way:
Removes Logistical Burdens
Travel to meetings, flight delays, time spent in airports and hotels, prolonged time spent away from family and friends. Time zone differences, coordinating meeting times, rescheduling, and the endless Zooms. How about that jet lag?
Video has no time zone. One-on-one meetings limit the reach for prospective and existing investors and keep you from reaching a broader audience. Video can be viewed multiple times, at midnight, while snacking on popcorn and wearing slippers. It will heighten the success rate of your information getting into the right ears and eyes, which will turn into a higher success rate in asset raising and client retention.
Keeps Everyone Informed
Videos can deliver repetitive information that is necessary but boring. Once discovery is accomplished through video, there will be more time for managers and investors to establish a more meaningful and informed relationship. Investors often show up to a first meeting uninformed because they didn't read the enormous prospectus you sent over with that 40 page DD report. The value of having a video deliver this information before a face-to-face meeting is that you will be meeting an informed and prepared investor, which will increase the likelihood of them investing with you and sticking with you, even when markets become challenging.
Trust is key - it is built by engaging in deep conversations and having social interactions. When your video delivers the bones of your firm/fund in a meaningful way with a friendly face associated with that information, your story is suddenly tied to a human factor. You are already more memorable than a chart or a long list of statistical data. Maybe you are wearing an interesting bow tie, or you remind them of someone they once knew. They will remember you, and by association, your fund/firm. If this recognition is established before you ever meet, you are already ahead of the competition.
There needs to be fair and equitable distribution of information about your product. Videos supply the same information at the same time to an unlimited number of investors that ensures impartial and equitable information to all interested in your fund. Video can also be used to send updates on your fund, keeping your investors informed and confident in your process.
Netflix does it, Amazon does it too. You can use your video asset to track investor engagement. Interaction data creates guidance for engagement and allows you to fine-tune your pitch when views drop off. Interaction data becomes actionable data when you use it as a way to follow up with investors who have shown interest. This is extremely valuable.
Yes, I watched your video.
The advantages of using video are endless. It can serve as the initial send-out of information about your firm or fund, included in a cold email, or get featured in an emailer or fact sheet. It can be sent as an email after a first call or meeting as a reminder of who you are. It can serve as the way you update your investors in a newsletter format. Innovations in technology have made the use of video so easy. It is a rational use of time and money, and it will help foster the human connection needed in making big investment decisions. It is an adaptable updateable asset that is easy to make and easy to use, and PrimeAlpha can help you from inception to production. Take the plunge and evolve.