Innovative Video Production for Finance Companies
At this stage in the game, every industry in the world can benefit from video marketing, but applying the method can be challenging for some. This is where a product video production company comes in mighty handy.
In a 2018 survey by HubSpot, 76% of marketers stated video marketing increased their sales. Additionally, 81% of people have been convinced to buy a product or use a service by watching a video. Yet, 85% of consumers interviewed claimed they’d still like to see even more video from brands.
People crave video and creating engaging content may be slightly difficult for finance companies. You have to search for a way to jazz things up. That being said, finance can also be a private industry and can have a lot of red tape, so it’s important you seek a professional to shoot your video.
You want to choose a video partner who specializes in financial services and has experience shooting other firms. Here are a few things you should know about getting the ball rolling for video marketing and your finance company:
When to Start
Video content takes time and the more you put into planning, the better the outcome. Working in finance can be like riding a roller coaster. There are quiet times and then there are times of sheer panic. These are politely referred to as Monthly/Quarterly/Year-end quotas and are probably not the best times to set a date for video content.
Think about when your office may be a little quieter and more receptive to a film crew. You don’t want to choose a time to shoot when everyone has serious deadlines, so take that into consideration when planning and scheduling for video content.
Video Formats that Work for Finance
There are a ton of different ways you can shoot a corporate video but not every style will fit every industry. Therefore, it’s important to study the different kind of videos you can create, but also be aware of your industry standards. The following are formats that do quite well in finance:
According to a recent survey, 97% of businesses using explainer videos say it helps users understand their business better. Explainer videos have also been called “conversion” and “overview” content. As the name suggests, this style of a professional business video is intended to explain a product or service to an audience in an engaging 2-minutes or less.
Most explainer videos in finance cover four key points:
- The problem
- The solution
- Features and benefits
- How the solution works
Explainer videos are generally used towards the top of the sales funnel (consideration phase) when the customer is aware of their needs and is seeking potential solutions.
Since explaining financial concepts can prove a difficult task at times, tutorial videos are also another great format for marketing. These are instructional videos that walk your customers through the proper way to use a product or service. It essentially “guides” them in the right direction and cuts through the ambiguity.
More prompting means fewer calls and emails to support about simple issues. A recent study on the State of Video Marketing by Wyzowl’s found that when using video in their marketing strategies, 81% of companies saw an increase in sales and 53% said support calls were reduced. The more you spend teaching your audience up front, the less you’ll have to put out fires on the back end.
Of course, video marketing is about thinking outside of the box, so never limit your creativity. Additional video types for finance that fit, include:
It’s about getting interesting things in the finance industry on film and engaging your audience.
What to Say
Your message is just as important as having a video in the first place. Finance can be a dry topic, so don’t try to sell viewers—you’ll lose them immediately. Instead, focus on storytelling over sales. On social media, branded content competes with entertainment. There is no separate time for commercials, so take that into consideration when making your finance video.
If you want your video to be viewed, it must create value for the visitor. You should choose a message that not only teaches your users about a new financial concept or offering but entertains them too. The best types of video content tell stories that the viewer can connect with. The better stories you tell, the more likely they will connect with your brand and convert to customers.
The best way to promote video content right now is through social media. The more engaging, the better. Finance does really well on platforms like LinkedIn and Facebook. Unlike Twitter, these sites give you places to explain deeper financial concepts. Also, make sure any video you create is always posted to your brand’s main digital space.
However, it doesn’t just have to be about the internet. Promotion can include places like:
- The homepage of your website.
- Email newsletters.
- Trade shows and events.
- Sales meetings.
- Digital signage in the lobby.
It can be tough to entertain in the finance industry because there can be complicated topics to discuss. Make sure you think hard about the format and message that will work for your audience and product/service.
The more you target relevant people with content that they find valuable, the more successful you will be in reaching your financial goals. In finance, it’s about the bottom line, and video marketing will drive yours sky-high.
If you have any questions on video production or marketing video content in the finance industry, gives us a shout. We’d love to work through your challenges.