Did you know that 83% of marketers agree that video marketing is becoming a more and more important component of company marketing strategies? Videos provide a platform for customers who are looking for a more convenient and entertaining way of communication.
Video marketing is a great strategy for communicating with an audience who has an ever-shrinking attention span. When it comes to finances, you need to capture their attention as much as possible.
To learn more about how video marketing strategies can help you promote your financial services, keep reading. We'll let you in on why your finance company needs to take advantage of video marketing.
Creating Your Video Ideas
Before you jump into making a video to promote your business' financial services, you need to understand how to go about preparing for a video marketing campaign.
As with any marketing campaign, you need to make sure that you understand your company's plan before enacting your strategies. We are going to break down these steps below.
Define Your Company's Goals
In order to create a video marketing strategy that is effective, you need to understand what your goals are in making the video(s). Once you've figured out what your company's goals are, you can start creating great videos to work on achieving those goals.
Ask yourself (and your entire marketing team) some of the following questions to get your mind flowing with some ideas for your video marketing tools:
- What is my company's goal in making this video campaign? Are we trying to promote a product, build trust, share values, or something else?
- Who is my company trying to benefit by making this video? Are we trying to help our current customers or bring in new customers?
- Is my company looking to tie this video into something else that we've worked on in the past or are currently working on? Can this video be used with other marketing strategies to improve our efforts?
- What kind of visuals does my company want to show? Are we showing joy, excitement, sadness, or other emotion? Are we working on showing how our product shifts emotions from negative to positive?
Once you've answered these questions, your team can work on create baseline ideas for what your video is going to look like. You know how what kind of video you're going to make and what kind of vibe you want to give to your customers.
Keep Your Company's Brand in Mind
Every company should work towards a consistent brand. Hopefully, your company has been working to do this so far.
When it comes to video marketing, a consistent brand can be more difficult. Usually, companies have a branding guide that tells their social media and communication teams what kind of text, color, and aesthetic they're going for. With video, this is more difficult.
For financial companies, their brand may look like one that is made to uphold trust, value, and honesty. On top of this, they may work to show their customers that they are working to help them make money rather than the other way around.
Every company's brand should seek to improve their relationship with their customers. Your brand should do the same. Therefore, your video(s) should follow suit.
If your company's videos aren't helping your company connect with customers, you shouldn't be releasing them.
As a financial institution, you should make sure that you are showing your customers that you see them as individuals. Video marketing is the best way to do this.
Through your videos, you can show that you view your customers as priceless individuals whom your company can help.
Video marketing can help your company share stories and testimonials. It is difficult to show a detailed storyline through static marketing like photos and infographics. Video is the only way to go.
Think about what story you want to tell with your video. Speak with your current customers and see if there are any testimonials that you would want to share.
By starting on the path to video marketing, you have to recognize that you're taking up a consumer's time. A static marketing technique can be looked at for a second or two, but a video has to be watched the whole way through to understand the main message.
Effective videos on social media usually last from 10 seconds to 2 minutes. You have to be able to hold your customer's attention for this long without boring them.
Your video has to be engaging. What are you going to do differently that will set your video apart?
Understanding Engagement With Video Marketing Strategies
As we said, video can be a great way to engage your customers. A moving video is much more entertaining than a still picture.
By posting videos, you will see more engagement and interaction. You just have to know how to work with this engagement.
Keep reading to figure out how video marketing strategies build more engagement and how you can use this to your advantage.
Customer Engagement With Video Marketing
One of the best things about online interaction is that companies can find customers and customers can find companies. Customers search online to find businesses that will help them complete whatever their need is, while businesses search online to find customers to help.
By using video marketing, you're only contributing towards both fields. Customers can find you easily, which means that you'll reach more people.
Video marketing gives businesses a more meaningful way to reach out to customers.
Video marketing also helps with product marketing to a business' customers. If you're looking to launch a new product, you should make a short video. This is proven to be more effective, especially if the video shows how the product can help consumers.
If you're a newer business, you could also use video marketing to share what your business' values are. When your customers are looking for a finance company to work with, they want to find one that is working in their favor.
You can show your customers that you're the business for them by creating a great video that showcases how you prioritize customers.
Lastly, video marketing gives your customers a more impressive look at your business. By making a video, you're giving your customers a more interactive experience.
In fact, customers are more likely to read and engage with content that involves a video. Videos have the ability to captivate your audience. Take advantage of them.
Another way to use videos for customer engagement is by making educational videos. Several financial institutions have started making educational videos for people who need to learn about checking accounts, saving accounts, retirement accounts, saving, and more.
By making these videos, you can show that your company is looking out for its customers. You'll let your audience know that you're working to educate people rather than lead them astray.
Employee Engagement With Video Marketing
Video marketing is also useful for interacting with your current and future employees. Strengthening employee engagement with inadvertently strengthen your customer experience.
One of the best things you can do with video marketing for employees is to create an introductory video for new employees. This video can be reused for every new employee, so you don't have to worry about refilming the video every single time you hire someone new.
This introductory video is great for building rapport early. It shows that you care for your customers.
Video marketing is more engaging and easier to learn from. Our brains are wired to take in visual information better than written information.
Are you looking for another way to use videos for employees? You could also make interactive training videos. Again, these can be reused so that they don't take up too much of your company's budget and time.
Making interactive videos like these are beneficial for your relationship with your employees just as making interactive videos for customers is beneficial for your relationship with them.
Taking Advantage of Video Marketing
When you start using video marketing, you should take a few things into consideration. This is especially as you grow to create more and more videos.
You don't want to get carried away making so many videos that they lose their quality.
Keep reading to learn about what some of the best, long-term video marketing ideas are. Your financial institution will benefit from following these suggestions.
Don't let your videos fall all over the place. Your customers will only be confused if you're not being consistent with your videos.
For example, you may want to specialize in posting financial education videos about retirement if you offer retirement account services. If you suddenly start making videos about college loans and you don't offer those, it will be extremely inconsistent.
Make sure that you're creating videos that are in line with what you want to show your customers about your business. Creating unrelated, irrelevant content will get your business nowhere.
Your customers aren't experts like you and your fellow employees. You need to be able to make simple, easy-to-follow videos that they can understand. Otherwise, you'll leave them in the dust.
Customers won't want to invest in a company that isn't willing to be helpful. If you don't present simple ideas, your business will come off as unattainable and rude. You don't want that.
If you're presenting tough ideas, make multiple smaller videos to explain your ideas to your customers. The extra work is worth gaining the trust and respect of your audience.
We've seen posts that detail what money is, how the stock market works, when you should retire, and more simple ideas. No video will be too childish.
Show Off Your Brand
If you're creating videos that don't show off your brand, you're merely creating those videos for entertainment purposes. For some, this is the goal. However, others would prefer to turn watchers into customers.
To do this, you need to incorporate your brand into the video somehow. If you're making a video about money market accounts, you should include a small part at the end that says that you can help people set theirs up.
No matter what the video is on, you should be able to tie your brand in if it's relevant to what your business has to offer. Make sure to include your name, logo, and what you have to offer. Don't be shy.
Show Your Smarts
As we said earlier, you don't want to overwhelm your audience with tough information that only an expert would know. However, you should show them that you know your stuff.
Finding the balance between being smart and being overwhelming can be difficult, but it is definitely achievable.
The most important thing to note is that your video shouldn't be solely based on emotion. You may see several video advertisers using emotion to the highest of degrees these days.
You should focus on using your brain more than your heart. This can be a problem when it comes to financial services and anything involving money.
You want to make sure that your customers are considering their financial decisions with their heads and not their hearts. Make sure that your video is reflecting this kind of thinking by making sure to include more rational decisions.
For example, you might have a video that talks about living within your means. If you make this video out of raw emotion, you won't get your point across to your customers. They will want to live outside of their means because it is more convenient rather than live within their means because it is smarter.
Make sure to find the balance so that you don't lose your customers in all of the noise.
Helping With Your Video Marketing Plan
If you're looking for a company that can help you capture everything you want with your video marketing strategies, look no further than The Wagner Agency. We have a variety of solutions that are bound to help your finance business bring in more viewers and tackle the goals you want to meet.
When it comes to a video marketing plan, we have all you need. Contact us today to get started.