Banks Using Video Marketing Cash In!
By Benson Fischer
What Every Banker Should Know
Video can be used in just about any Banking situation and it is important to connect with your Bank’s audience emotionally for more engagement. One minute of video is worth 1.8 million words in terms of customer impact and no other medium can reach people faster more effectively or more economically than video.
Video Marketing Banks Must Recognize Marketing Trends
Video Marketing is extremely helpful for the banking sector due to the widening of online banking. Banks are personalizing their customer experiences because they have grasped the non-negotiable video marketing trends of the present day.
In today’s digital world, Banks need to market themselves online to educate their existing and potential customers about their current and new banking programs that are not only beneficial to the Bank customers, but also to society and that will boost the Banks’ social credibility. It is important that the Banks video marketing tie together with all of the other marketing programs the Bank is undertaking, including tying the video marketing program into the Banks website, print advertisements, mailers, displays, radio, and TV along with marketing displays at the Bank branches.
Trust Is The Key To A Banks Success
Those who work in the banking sector know more than anyone; it is essential to gain credibility, and trust by meeting your customers’ requirements. Video can create an intellectual and emotional connection with the Bank and build trust between the Bank’s presenter and the viewers. Therefore, having the Bank Chairman, President and some of the executive staff included in the Bank’s video marketing programs go a long way in building trust with the public.
Video Is King!
Over 80% of all content on social media is video and video is the most popular content medium, with over 500 million Facebook users viewing video every day. The average person watches 84 minutes of video each day. With more room for expression, content sharing, and often better promotion through social media, it’s the ideal medium for everything from how-to videos to direct advertising, giving Banks and financial institutions an ideal way to connect with consumers to engage, inform, and turn viewers into Bank customers. Over 75% of executives, consumers, and decision-makers prefer watching a video to reading text and people retain upwards of 90% of the information contained in a video against a 15% retention rate when reading text. People simply do not read the way they use to.
The Banks Video Marketing Campaign
Launching a Bank video marketing campaign means taking your audience, and demographic into account. The goal is to craft a campaign around an end goal, get creative with visual storytelling, and give over a message that matters to your current and potential customers.
Remember, people have to stop what they’re doing, often listen to the video, and pay attention. If they don’t like what they see, they will leave. That means every video you produce must showcase good storytelling. It must be interesting, have an emotional connection with the audience, and uses visual storytelling to showcase something interesting and engaging to the viewer. Appeal to emotions (if you’re introducing a new service, figure out why the new service was provided, and what emotional value does it offer?) Use actors from the demographic you’re aiming for (Millennials? Generation Z? Baby Boomers
Financial Video Marketing Strategy
Financial video marketing is the same as any other form of Bank marketing in that you need a strategy, and every video must have a point, and it should tie into your other marketing efforts. This means that you need a good video strategy outlining not just what you are going to film, but how it provides value to the Bank and the viewer. Your goal is to keep your current customers and convert new customers.
Any video marketing campaign will naturally focus on values, building brand trust, and connecting with consumers. Clearly defining what should be touched on and what shouldn’t be, as well as what brings value other than directly promoting products. In some cases, values can help you to make a statement or to support a cause, which can be good as well. Sharing brand values always ties into storytelling, because, whether you’re creating videos about success cases, sharing unrelated content, or sharing personal user-generated content, you still need great storytelling to make it work.
Most Banks struggle to show consumers that they recognize them as individuals. Video marketing is an easy way to bridge that gap because it allows you to showcase stories, create personalization, and create two-way dialogue well beyond the standard, of static marketing. The easiest way to tie personalization into video marketing is to share real, personal stories and good ones. This can involve a significant amount of brand research and marketing – as well as connecting directly with consumers to get their stories, but it will pay off. Most importantly, social media is an excellent platform for sharing this kind of marketing, providing you have good storytelling behind the videos.
Any Bank video marketing campaign will naturally have to include all the elements of great videography, so don’t use the Chairman’s 15-year-old son or an iPhone to shoot the footage. Only, use professionals that know how to tell a story and how to make each video effective. You can’t approach videos like standard ads unless you’re trying to use them as ads, but you can’t share flat and boring information either. Instead, you must use emotion, talk about your brand and values, and use great storytelling to present even the most mundane information (like opening a Bank account) in a way that is engaging enough to take up 20, 30, 60, 120, or many more seconds of someone’s time.
Hire A Qualified Video Production Company
Anyone with an iPhone can make a video for next to nothing. However, that is not what you are paying for. You are paying for results and a return on your investment! A qualified video production company knows how to write an engaging and compelling script that will deliver a return on investment and fantastic results. Finding a video production company that provides the ability to write a great script, obtain experienced talent, shoot, edit, add a soundtrack, and add all the bells and whistles to your video is well worth the money.
Don’t Cut Corners, Hire A Qualified Video Production Company
Anyone with an iPhone can make a video for next to nothing. However, that is not what you are paying for. You are paying for results and a return on your investment! A qualified video production company knows how to write an engaging and compelling script that will deliver a return on investment and fantastic results. Finding a video production company that provides the ability to write a great script, obtain experienced talent, shoot, edit, add a soundtrack, and add all the bells and whistles to your video is well worth the money. Don’t cut corners, engage a video production company that has the experience, references, and a track record of success, like ZivZo (ZivZo.com)