Financial Services Marketing: How to Leverage Video to Meet Your Goals
Proven tactics on how you can leverage video to build trust, simplify complex products, and accelerate growth.
Financial Services Marketing Videos
Money moves fast—trust doesn’t. Gen Z trades crypto on mobile while Boomers still phone their advisor. Video is the only format proven to bridge that trust and knowledge gap at scale, lifting landing-page conversions by up to 80 percent when placed above the fold.
With the advent of technology and the differing proficiency in it by the different age groups, financial institutes are finding it hard to reconcile this divide between their varied clientele.
Nevertheless, a large majority – if not all – of financial organizations have incorporated digital avenues in their overall marketing strategy. The common thread starting to appear in this fabric is the use of video as a pillar against which this strategy leans.
In 2018 alone, brands in the financial services industry increased their spending on video marketing by 13.1 percent, translating to a figure just shy of $2 billion.
In this piece, we show you how to expertly incorporate video production and video animation into your marketing strategy, breathing new life into your financial services business.
What type of videos work at each funnel
| FUNNEL STAGE | BEST VIDEO FORMAT | KPI TO TRACK |
|---|---|---|
| Awareness | 60-sec animated explainer | View rate |
| Consideration | Product walkthrough or demo | Click-through to quote request |
| Decision | Testimonial / Case Study | Cost-per-application |
Using Video Marketing For Your Financial Services Business
The 2008 crisis, meme-stock volatility, and data-breach headlines left consumers wary. Yet 79 % of banks increased digital-video budgets since 2020 because sight-and-sound storytelling rebuilds confidence faster than text or static ads.
Consequently, extensive marketing campaigns have been launched to burnish the image of the industry at large. Of all the monies spent on online advertising, financial services account for 14 percent.
Institutions have seen the value of video production in their marketing strategies, increasing investment into digital video content creation by 79 percent since 2016.
Here is how your financial services outfit can also tap into the potential of video animation for the growth of the business.
Produce video content that builds trust
A financial business’ pecuniary skills and tools all boil down to one main aspect; clients’ trust in the institution. One of your main goals, therefore, should be to engage a video production company to craft content that encourages the public to trust your institution.
So, irrespective of the tone that your video content takes on, the overall production should still embody and instill trust in your existing customers and potential clientele.
Such videos usually exhibit the current crop of customers as happy and satisfied with the service you’re offering. This kind of content creates an emotional connection between the brand and the clients.
We’re not saying this is the exact path you should take, but something that evokes a reaction like the above is a good start.
For instance, take a look at LSI Credit. This credit solutions provider attempts to display their trustworthiness in this explainer video.
Credit scores are very personal. To delegate credit matters to a third party requires a person to have plenty of trust in the institute that’s going to handle them.
Notice that LSI Credit emphasizes that they meet the client in person, unlike competitors who do everything online. This face-to-face meeting is meant to foster a closer and honest relationship between the organization’s representative and the customer in need.
Create video content that customers can personally relate to
Several financial service institutions present a kind of impersonal monolithic facade. Add to that the fact that most financial literature and terminology sounds imposing. This puts off many potential clients who would prefer to connect with the entity handling their financial needs.
Customers want to feel more than just an entry in a ledger somewhere. They want to feel that the institution cares about their personal needs with a hands-on approach.
It is, therefore, very advantageous for your financial services business if you create video marketing content that shows that you know what your target market is going through and can readily overcome that challenge for them.
For instance, Dr. Bill admits that doctors got into their profession to save lives. However, they also shoulder the burden of medical billing. The animated video explains how they take this burden off the doctors’ shoulders to enable the focus on patient care.
Use video to educate your target audience
A large number of people don’t understand the basics of their financial matters, let alone the more complex features. One way to get on the good side of your prospective clients is by explaining aspects of personal finance to them.
Using thick paragraphs and endless lines of drab text in eBooks and whitepapers won’t do much in this case. These forms of communication are as laborious as the very topics you’re trying to explain.
Instead, use video animation to make financial fundamentals and other aspects easier to grasp. This type of video production is more efficient in passing on complex information because it is more stimulating, enabling the audience to easily follow along.
With each video production you put out, you have a chance to increase your market base by offering more valuable content – establishing your brand as a thought leader in financial issues.
Many companies use educational videos in the form of webinars to interact directly with their target audience. They bring in experts as well as members of top management to educate their customers about various aspects of the financial services they offer.
However, video educational content shouldn’t be restricted to webinars and other scripted videos. You can, instead, engage the services of a video production company to come up with a short and compelling video.
This animated video should explain the financial services that your business offers. If your outfit markets to individual customers or small businesses, this type of content. This is better than a fully produced live-action video because it helps them retain the information and make informed financial decisions.
Ablii is a Canada-based financial services company. It provides business with a way to make and keep track of payments. In this video, the company educates small business owners about just how the platform makes their operations better by making payments much easier.
