In general, financial services have a hard time connecting with younger audiences.. Video can be used as a means to bridge the gap between the two, offering audio and visuals to engage the audience, and also provide a way to build transparency, explain financial offerings and services, and let your customers know more about how you help them achieve their financial goals.
In a world where attention spans get shorter and shorter, video is proven to captivate your audience and maintain engagement and Brand loyalty. For financial institutions, this is key. Companies who utilize video in their marketing strategies have seen conversion rates increase across the board – specifically when used on landing pages, we’ve seen an 80% increase in conversions, and when used in email outreaches, we’ve seen open rates increase by 19%. According to Hubspot, 90% of customers have stated that video helps them make decisions in their buying process.
So – that sounds great – but how do you get started on your financial services video? We’ve outlined some simple steps so you can get off on the right foot.[/vc_column_text][vc_tta_accordion][vc_tta_section title=”1. Start with Questions.” tab_id=”1603132046680-aaaf5389-23f1″][vc_column_text]Before you determine your concept & distribution plan, you’ll need to understand your goals, primary objectives as well as your audience and their mindset. If your video isn’t strategic, it probably won’t garner the results you’re looking to achieve. So, begin by asking yourself some questions and defining your goals. Here are some questions/areas of information to get started.
- What do your customers care about when looking for a financial service?
- Who are your customers? Understand their demographics.
- What do your customers want & need from a financial service provider?
- What do you want your customers to know about you?
- Why are you creating a video?
- What message do you want to convey?
- Are you selling something? Explaining something? Welcoming new customers?
- What do you want a video to sound like? Look like? Feel like?
- What kinds of videos have you seen that resonate with you most?
- What channels do your customers interact with most? Your website? Socials? An app? Email?
- What are you willing to spend?
These are just a few questions to start out with to determine the key factors for your video and ensure it will resonate with your customers or audiences.[/vc_column_text][/vc_tta_section][vc_tta_section title=”2. Time to Plan!” tab_id=”1603132046730-92840c2b-a320″][vc_column_text]The next step is to outline your video production plan, as well as your video marketing plan. How often will you create/promote new videos? The most important thing will be to remain realistic and to establish cadence that makes sense for your organization. Maybe it’s once a month – maybe it’s once every 2 months – as long as it makes sense for you.
A great way to get started on your video production plan(besides contacting your video production partner) is to think about all of the materials and steps it’ll take to create your video. Will you need to schedule a production? Actors? Filming equipment? Or is this an animated video that requires a motionographer? Speaking of video types – you should consider what kind of video makes the most sense. Here are some examples of video types that work well for financial services:
- About Us – About Us videos can tell your customer a lot about your history, your business functions, and your values. Because trust is a huge part of a relationship between financial service and customer, providing this insight is extremely important.
- Explainer – There are a lot of complexities when it comes to offerings from a financial institution. Sharing this information in a clear, easily digestible format is a great way to engage your customers and ensure that they understand how your services help them achieve their goals.
- Testimonial – Like we said, trust is a huge part of the relationship between financial service and customer. Hearing from someone who’s already worked with you is a great way to build that trust.
It’s important to detail the necessary elements to create your video ahead of time to understand the timeline and budget of your project. You may also want to consider hiring a video production agency to help you in the process. Sometimes, it’s better to spend money on a partner who can provide not only a high-quality final product, but help you determine your strategy and distribution as well. Hey…that reminds us….we do that! Give us a call!
Something to help you lay out your video marketing plan in terms of frequency is to plot your potential videos on a calendar, so you’re aware of what needs to be created and when it needs to be distributed. To determine how many videos, how often, and what topics you’ll want to focus on, ask your customers! Gathering information through surveys is an easy way to capture data about your audience to help figure out your video strategy.[/vc_column_text][/vc_tta_section][vc_tta_section title=”3. Create, Publish & Promote.” tab_id=”1603132299729-df764208-d6e5″][vc_column_text]Now that you’ve determined your topic, your video type, your production plan, and distribution – it’s time to execute. Have fun with the process and remember your goals. Once your video(s) is complete, it’s time to distribute across your preferred channels to reach your customers. Post on your website, promote on your organization’s Instagram, or embed the video in your next email outreach. Make sure it reaches your customers – and here’s the most important step – listen to what they say about it!
A good video marketing strategy is flexible. Testing strategies and adapting them based on feedback from your audience is the best way to maximize results and continue to build relationships with your customers. Make sure you’re continuously monitoring how your video performs using a few metrics: engagement, conversion rate, shares, and play time.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_column_text]At the end of the day, if you’re a financial institution, video marketing is something that can be extremely beneficial for your organization. It can build trust, bridge the gap between yourself and younger audiences, explain your offerings and services, and showcase your organization’s history & values to connect, communicate and engage with your customers.[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]What a year it’s been for marketers around the world. As consumers rapidly change their behaviors, marketers have had to adjust (and continue to adjust) their strategies to not only reach their audiences, but engage. Brands will come out of their shell and show their true colors to their audiences, with hopes to attract consumers who align with their values, initiatives, and offerings. Needless to say… 2020 has changed everything.
A platform that has exploded though this 2020 shift has been… you guessed it: TikTok – a short-form video sharing app that allows users to share and create content instantly. Users are able to add things like animated icons and text-based graphics to enhance their content. Throughout the pandemic, there’s been a drastic increase in the amount of users and daily activity. According to Hootsuite, it’s become the “social media sensation of lockdown”, helping users overcome boredom as they stay indoors.
Brands have started to catch on to the trending platform, utilizing the ease of shareability and hyper-engaged user base for advertising. Over the past few months, we’ve received A TON of questions about the value of TikTok, so we thought we’d share some insights to consider before jumping on the bandwagon.
Currently, there are three main ways Brands can utilize TikTok for marketing efforts:
- Use TikTok influencers to reach a larger audience
- Create a channel for your brand and upload tailored content
- Promote your videos using paid advertising on the platform
While we have seenBrands find success with marketing on the platform, it’s important to remember that it’s not a one size fits all. The majority of TikTok users range from 16-24, and not all Brands cater to that demographic. But if that age range does fall within your Brand’s target audience – here are some ways you can utilize TikTok for your marketing initiatives & why it will work.[/vc_column_text][vc_tta_accordion][vc_tta_section title=”1. Mobile Video” tab_id=”1603131314739-2b545649-63ab”][vc_column_text]TikTok videos seamlessly combine text, videos, audio and images specifically made for mobile which differs from other mediums that marketers historically rely on for communication with their audiences. As more and more consumers view video content from their phones, video marketers need to adjust their content to suit mobile devices. According to SocialMedia Today, videos are a really great way to authentically connect with your audience and showcase the ‘human’ behind your brand.[/vc_column_text][/vc_tta_section][vc_tta_section title=”2. Community Building” tab_id=”1603131314824-c0d46ab6-8b98″][vc_column_text]We’ll say it again… Brands that align with interests of Gen Z can utilize TikTok to reach hyper engaged audiences within that target. For some organizations, building communities within their audiences is extremely important. If marketers can move their audience into an online community and shape their experiences, they’ll be golden. We’ve seen a major upward trend in consumer’s desire to see Brands create communities for their audiences, which validates our constant effort to inform marketers about the need for authenticity in their marketing initiatives.[/vc_column_text][/vc_tta_section][vc_tta_section title=”3. They’re Not Just Ads … They’re TikToks” tab_id=”1603131425291-aa1c8841-85cb”][vc_column_text]For the Brands that know their audiences utilize TikTok & want to start reaching them through that channel, they’ll need to keep in mind that they’re not creating ads…they’re creating TikToks. Marketers will need to find ways to tailor their content to the TikTok video style – potentially including TikTok influencers – to further attract and engage with audiences. If Brands think posting ads created for Instagram or YouTube will cut it…think again.[/vc_column_text][/vc_tta_section][vc_tta_section title=”TikTok For All Video Types” tab_id=”1603131475491-3469a3f0-2c23″][vc_column_text]Brands have been utilizing the platform for all kinds of video types, for all kinds of initiatives. For example, we’ve seen Brands utilize TikTok for training videos, creating clear and engaging step-by-step how-to videos to train their audiences on new products and services. We’ve also seen education institutions create TikTok videos that speak to their potential students – showcasing things like sports, daily student life, and unique facts about their institutions to attract high school grads.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_column_text]HERE’S AN EXAMPLE: When utilized correctly and purposefully, TikTok can be a great channel for Brands to connect with their audiences. Recently, Levi’s partnered with TikTok to not only allow customers to purchase items through links on the platform, but also engage with big-name TikTok influencers to further their reach. Influencers began posting videos, showcasing how they customized their Levi’s, and offering their thoughts on the product. We’re big fans of user-generated content when done purposefully, and TikTok provides the perfect platform for it.[/vc_column_text][vc_column_text]
@iameverettwilliamsGUYS! I designed a pair of jeans for @levis and I am obsessed! These are available now! Link in my bio! ? ##ad♬ Monster kill – Tik Tok Assistant
[vc_row][vc_column][vc_column_text]Because financial institutions offer interactive and hyper-personalized services, it only makes sense to include video in their marketing strategy. Video offers an effective way to authentically engage audiences, even more so than written text and other traditional advertising mediums. Connecting audio & visuals provides an immersive experience for the viewer, eliciting emotional connection, deeper understanding of messaging, and has proven to increase viewer engagement across mediums.
So, how can financial institutions revamp their marketing efforts by adding video? We’ve listed some tips below. Check it out! [/vc_column_text][vc_tta_accordion][vc_tta_section title=”1. Build Customer Loyalty Through Thank You Videos” tab_id=”1603130736031-a712e8dc-c17c”][vc_column_text]Customers love to be appreciated – especially for continuing to provide their business to your organization over a period of time. Sharing a short & sweet thank you video with your customers to tell them how much you value them instills positive associations between your bank and your customers. It’s a really great way to humanize your institution and keep folks coming back.[/vc_column_text][/vc_tta_section][vc_tta_section title=”2. Share Your History & Tell Stories” tab_id=”1603130736143-54b097ab-948d”][vc_column_text]Financial institutions typically have really compelling origin stories. Customers love to know the history of the organizations they work with, and how that history has impacted the current functions, values, and initiatives of the organization. Telling stories is also an effective way to illustrate the foundations of your financial institution, especially when you relate those stories directly to your customer experiences.[/vc_column_text][/vc_tta_section][vc_tta_section title=”3. Personalize Your Outreach” tab_id=”1603130822708-0681d788-29af”][vc_column_text]Personalization is KEY for building loyalty and increasing engagement rates across marketing channels for organizations. Because financial institutions offer hyper personalized services, it only makes sense that their marketing efforts do the same. One way to do so is to create overview videos, specifically made to educate customers about their personal financial standings, or perhaps how they can customize their financial plans to achieve their personal dreams.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_column_text]Connecting with customers has never been more important. Financial institutions need to show their audiences they understand their personal financial needs, and that they’re there to help them achieve their goals – every step of the way.
HEAR FROM OUR CLIENTS. This year, we partnered with Andrews Federal Credit Union to help them send a message to their customers about what they’re doing to keep their institutions clean & safe during the pandemic. It was used to inform customers and helped their audiences feel comfortable & connected during such a turbulent, uncertain time. Check out the final product![/vc_column_text][vc_video link=”https://youtu.be/QiWKzN_gS6Q”][vc_column_text]If you’re a financial institution looking to do that, give us a ring. We’re here to help.[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]In the era of COVID-19, communication and education has never been more important to healthcare organizations. Offering important information to employees & the public regarding organizational change, virus alerts, and new processes is critical to keep functions running and people safe. But…how do you ensure the information reaches them? And how do you explain complex (and maybe dry) ideas in a way that is both engaging and digestible?
Animation gives companies the ability to explain complex ideas in an engaging way – combining the endless possibilities of animated video with supporting voiceover, or maybe just text on screen depending on your goals. For healthcare organizations, animated explainer videos can be key to rolling out new policies and informing the public about new, important information that would otherwise be drafted on a white paper that may go unread. Especially as we see attention spans becoming increasingly shorter online, compressing the information into one or a series of 60 or 90-second video(s) with engaging graphics is more likely to achieve your goals than, lets say, a live action 5-minute video.
Here at 522, we’ve partnered with healthcare and public health organizations to create some kickass animated explainer videos. Check out just a few of these examples![/vc_column_text][vc_tta_accordion][vc_tta_section title=”Mercatus Center – Medicare Price 101″ tab_id=”1603128845757-8e1c31b2-f846″][vc_video link=”https://www.youtube.com/watch?v=DpOZVuEiBCs”][vc_column_text]In this healthcare explainer, we helped the Mercatus Center explain how medicare pricing works – in the simplest way possible. Using icons and text on screen, we developed an engaging way to inform viewers about the processes and intricacies of Medicare pricing. Check it![/vc_column_text][/vc_tta_section][vc_tta_section title=”CDCF – Hi-5 Video” tab_id=”1603128845952-6ff6a9a0-c247″][vc_video link=”https://www.youtube.com/watch?v=oHylyUlxtmo”][vc_column_text]In this video created for the CDCF’s Hi-5 initiative, we broke down why the EITC (Earned Income Tax Credit) is an effective anti-poverty policy that helps working families put money back in their pockets. We utilized colorful scenery, characters, text on screen and icons to break down the complexities of the policy, giving viewers a simplistic explanation of how it works and why it’s beneficial.[/vc_column_text][/vc_tta_section][vc_tta_section title=”AASLD – Liver Meeting 2019″ tab_id=”1603129102952-ab4404f6-0d30″][vc_video link=”https://www.youtube.com/watch?v=0F4pyXl07ig”][vc_column_text]Now, this isn’t an explainer…but it is a promo video for the AASLD Annual Liver Meeting. To promote the meeting, we used two characters that are used to excite the audience and inform them about the agenda, what’s new this year, and why they should attend. [/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_column_text]Animation can be used to explain complex ideas across industries, and is especially useful for healthcare organizations to break down the intricacies of processes and inform the public about healthcare policies. If you’re a healthcare organization looking for some assistance with video, give us a call.[/vc_column_text][/vc_column][/vc_row]