Facebook Live: What Is It And Should You Be Using It?

June 14, 2016

by Crystal Lee Butler

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

It’s difficult to keep up with the ever-changing social media platform features. While live video streaming may not be new to the scene, Facebook Live is a fairly recent phenomenon that has caught on with a vengeance and has been gaining attention from many financial firms. Here’s how you can embrace it to communicate more effectively with your clients.

What is Facebook Live?

Facebook Live is a live video streaming program that aims to bring people face-to-face with hosts and/or celebrities with whom they have an interest. While many popular news personalities and celebrities have been using Facebook Live, it is available and open for anyone to utilize, and could be a vital marketing tool for your financial advisory business as well.

How does Facebook Live work?

Facebook Live allows you to stream live video feed directly from your mobile device through the Facebook application, so there is no need for downloading additional apps. It works like your smartphone camera in that you can either film yourself or choose the “away” feature to film what you are viewing.

Should you try it?

  • It’s the most popular live streaming tool. While similar tools, such as Twitter Periscope, Snapchat and Google Live Hangouts also offer live streaming capabilities, Facebook Live is by far the most popular and frequently used application offering live streaming.
  • All it costs is a little bit of your time. Compared to professional video, this takes far less time and is free – and who doesn’t like free?
  • Anyone can do it. Even if you aren’t very tech savvy, it is very simple to use.
  • It’s personal. It gives you the ability to connect on a more personal level than any typed email blast with your clients, prospects and connections. They get to see your face and you would have an opportunity to answer some of their live questions left in the comments section.
  • It’s convenient. You can also use it when it’s convenient for you, and others can watch it when it’s convenient for them.

Facebook Live makes it possible to reach an audience easily, spontaneously and in an authentic way. It also allows you to humanize your business and brand, and make connections that are otherwise difficult to make. Face-to-face meetings are increasingly difficult to schedule. Financial advisors can use this great tool as a way to stay connected with clients, prospects and connections. It also allows for a more personal and unique feel compared to just a post or picture.

How to use Facebook Live

You will need to have or set up a Facebook account. It can be your personal account or your professional business account. You will also need a mobile device or phone with video recording capabilities.

You will need to decide which audience you would like to be able to see your video. Your audience can be public, your friends only or groups of friends that you specifically select. This is much like choosing your privacy settings on your personal Facebook page for posts or pictures.

Once you have chosen the audience for your video, they will receive a notification that you are “live now.” Your video will also appear in their newsfeed bringing your video right to them without any extra steps. The notification helps do some of the work for you by attracting an audience organically.

When you should use Facebook Live

Once you have learned the logistics of Facebook Live, think of how you may be able to use this valuable tool to leverage your advisory business and distinguish yourself in the financial industry.

Here are some ideas for topics:

  • Market updates
  • Inspirational messages
  • Financial tips
  • Highlighting a recent blog
  • Communicating breaking news
  • Q&A sessions

If you have caught on to the popularity and benefit of live video streaming and have done your research, you now might want to give Facebook Live a try. This can be a great strategic option for your financial advisory firm. As a marketing professional who has had to create an informational video or two in my time, allow me to offer some helpful advice on ways to make the process most effective and maybe even a little less nerve-racking for you.

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Facebook Live: What Is It And Should You Be Using It?