When was the last time a client or prospect was in your office? How about in your conference room? For many of you, it’s probably been a while. Video conferencing is the new normal and our most recent affluent research tells us that many clients are getting quite comfortable with it.
How would you prefer to meet with your financial advisor?
- In-Person – 44%
- Video Conference – 18%
- Combination – 34%
- Other – 4%
52% tell us they prefer meeting with their financial advisor in some combination of video-conference and in-person. This indicates that video conferencing (virtual communication) has quickly, in less than a year, become an accepted method of interaction for today’s affluent clients. They have worked through most of the technological hurdles of yesteryear and now embrace the convenience that video conferencing represents.
An unintended consequence of all this virtual communication is the leveling of the competitive playing field for financial advisors. No longer does a rookie advisor have to take a back seat to a corner office advisor when presenting to a client or prospect. That corner office with a private kitchen and luxurious conference room is no longer such a statement piece.
Your virtual reality (appearance on video) is now a major component of your overall brand. Every time you’re on a video call, you’re making an impression. Is it good, bad, or somewhere in between?
For less money than you’d pay for a good suit, every financial advisor should be able to knock it out of the park with video conferencing. Yes, it does an investment of time and money, but with a budget between $1,000 and $1,500 you’ll be able to purchase all the equipment you need…
Camera or Webcam
A good webcam can work, but if you can afford it…
- Upgrade to a DSLR, Mirrorless, or video camera.
Natural lighting is great, but you’ll also need….
- An LED panel, ring light, or soft-box to look your best.
Your webcam mic can work, but…
- You’ll sound better through a standalone external microphone.
Avoid a WebEx or Zoom background. Ideally, you should…
- Invest in visual intrigue (pictures, plants, lamps, & personal items).
If you want some equipment recommendations from Oechsli, send me a message on LinkedIn and we’ll send you an Amazon wish list.
Below is an example of a virtual set-up; simple, with good equipment, and without taking up much space. We have seen advisors use this set-up in a large closet, a basement office, the corner of a bedroom.
A lot of advisors use the camera and microphone that’s built into their computer. Don’t! You’ll improve the overall quality of your virtual communication tenfold by investing in the right equipment.
You should think of this as investing $1,000 to $1,500 to build a first-rate virtual office. The better your video-conference set-up and delivery, the more professional your virtual reality, and the more you’ve distanced yourself from the competition.