Five Reasons A Financial Company Needs To Invest In Video Marketing
If you’re exploring effective marketing tools in the financial services sector, video marketing could be the answer. In the contemporary online landscape, businesses are harnessing the power of YouTube, Instagram and Twitter to reach their audience.
The fusion of visual storytelling and information sharing is proven to compel and influence. In fact, research shows that 96% of marketers have found video marketing to boost understanding of their product or service (Wyzowl, 2023), proving how indispensable it is and will continue to be.
Here are five reasons a company offering financial services should invest in video production to boost its marketing strategy.
Improving Client Engagement And Trust
It’s fair to say that trust is the cornerstone of the financial sector. Remember, we’re talking about people’s savings. Their investments. Their livelihood. Video marketing can be the linchpin in fostering and maintaining client relationships. Financial service videos offer an engaging platform for sharing your success stories, testimonials, and case studies, helping build trust and credibility.
Video has become one of the most widely utilised marketing tools available, with around 9 out of 10 businesses adopting it into their marketing strategy (Wyzowl, 2023). Video content that softens and humanises your brand presents an opportunity for you to connect with clients on a personal level.
Simplifying Complex Financial Concepts
Have you got a lot of complex financial information you need to get across? One of the biggest challenges in financial services is demystifying complex financial concepts. Video marketing offers a fun and engaging solution to this problem.
You can distil complicated financial terminology into simple, comprehensible language through animation, infographics, and tutorials. This boosts client understanding and places you as a dependable source of financial knowledge.
Consider the following forms of video content for your marketing and internal training strategies:
- 2D and 3D animation – A combination of music, sound, characters and imagery engages interest in a brand or topic.
- Explainer videos – Excellent ‘how-to’ style videos for educating audiences on products, services, complex concepts, and terminology.
- Training videos – Engaging content for onboarding new employees or for ongoing training.
- Infographics – Make complex data or statistics more appealing through easy-to-understand animations.
Increasing Conversion Rates
Video marketing is a powerful tool for driving conversions. According to recent research, landing pages incorporating explainer videos can boost conversion rates by up to 86% (Yans Media, 2023). Let’s face it – nobody can afford to miss out on these perks! Videos can effectively articulate the benefits of a financial product or service by packing a lot of information into a mere snippet of film. It’s a simple but effective way to influence prospective customers and inspire them to act.
Expanded Audience Reach
Financial services videos are a fantastic way to share information. Videos can be shared over numerous platforms, including YouTube and Twitter, so they aren’t limited in what social channels they can reach. With a larger audience to engage with, you can connect with those who prefer video content over other forms of information.
People watching videos are more likely to share them with their friends on social media, which helps the content reach new people and grow its audience. Plus, when people engage with videos, they remember 95% of the information presented, compared to only 10% when reading text (Insivia, 2023).
Competitive Advantage
Video marketing can provide a significant edge in the competitive financial services sector. It allows you to differentiate yourself from competitors by showcasing your unique selling point engagingly and memorably. Additionally, it enables you to keep pace with changing consumer behaviour and digital trends. Nowadays, it’s all about staying relevant!
Creating video content that markets financial services can be difficult. At Pickle Pictures, we work with banks, finance firms, loan agencies, super funds and more, so you could say we’re experts on the subject! Contact us for a chat today, and let’s make your vision a reality!