Creating effective marketing campaigns for financial services may seem like a tall order. The reason for this can be the negative association of customers regarding the finance business. They often view it as a source of potential stress and bureaucracy. Thus, it becomes quite challenging for finance businesses to build trust and engage customers. When it comes to wealth management, trust and authenticity matter the most. Fortunately, there is a great way to bridge the gap between you and your customers, which involves video marketing. It has shown to be an effective tool for forging a meaningful long-term connection with your target audience. Human beings are intensely visual creatures, and thus, it tend to have more impact than a piece of text or an audio clip.
Let’s have a look at how you can make the most of video marketing in 2024.
Reasons Why Financial Services Should Invest in Video Marketing
- Build trust
Building trust is crucial for winning customers on any journey, especially when you are providing financial services. Being transparent and relatable is the best way of building trust. Be authentic and genuine and show the human side of your business. As per a recent study, 62% of customers are much more attracted to clients that demonstrate authenticity. Client testimonials are the best way to earn trust among your potential clients.
- Highly engaging
Videos tend to be more engaging than texts since they are more digestible. On social media, videos get 48% more views than posts without videos. Suppose you have a 350-word brochure and a 3-minute video. Which one do you think your customers would prefer watching? If we were in their place, we know what we would have chosen!
- Build emotional connection
95% of purchasing decisions that are taken are based on emotion. So, if videos are well executed, they can be a powerful marketing and sales tool to increase your brand awareness. When you combine sounds, music, movement, facial expressions and striking visuals, they all contribute well to conveying the story in an engaging and impactful manner.
- Increase conversion rates
In the financial service industry, average consumers find it difficult to understand complex products or services. Videos, on the other hand, provide a more comprehensive understanding of a product or service, leading them to make a more informed decision. The conversion rate goes up to 80% when financial services have a video on the landing page. On average, websites that use video content have a 4.8% conversion rate as compared to 2.9% of websites that do not. Also, 84% of customers claim to purchase a product after watching a video on the product or service.
- Increased reach
The best part of videos is they are shareable across multiple platforms. YouTube is known as the second search engine. As per a study, videos get shared 1200% times more than links or articles. Owing to the strong demand for video content, Google’s algorithm favours websites that feature video content.
Video Marketing Ideas to Provide a Personalized Digital Experience
- Promo videos
Promo videos are a great way to pique the interest of visitors. They tend to create a solid impression on visitors. They play a big role in driving traffic to your website. These videos contain a lot of information but in a biteable format, and hence, they are highly shareable. Nothing can beat promo videos when it comes down to creating a buzz about some new service or offer you are providing.
- Educational video series
Develop a series of educational videos covering various financial topics. Tailor the content based on the audience’s financial literacy level and preferences, providing valuable insights in an engaging way.
- Client testimonial stories
Word-of-mouth still remains one of the most effective ways of persuading prospects. But the traditional text-heavy testimonials are pretty old school and are boring. New-age customers look for something that is quick to consume. So, why not create testimonial videos where the previous customer share their success stories straight to the camera? Clients can discuss their financial journey with your services, emphasizing the personal impact your business has had on their lives. The bond will be on a much deeper level.
- Personalized investment updates
Send personalized video updates on investment portfolios. Discuss performance, changes, and future strategies in a way that feels exclusive to the client.
- Celebrating Milestones
Send personalized congratulatory videos to clients on significant milestones such as reaching savings goals, investment milestones, or anniversaries with your financial services.
- Interactive budgeting workshops
Host live or recorded interactive video workshops on budgeting and financial planning. Allow viewers to submit questions in real-time, creating a dynamic and personalized learning experience.
- Customized financial advice videos
Create short video clips offering personalized financial advice based on individual client profiles. Address common concerns, provide tips, and guide them on optimizing their financial strategies.
Hire Professional Video Creation Services for Your Financial Services
Creating concise, punchy, engaging and relevant financial services is not everyone’s cup of tea and certainly not for the faint-hearted. As discussed above, financial services can be quite complex to understand. Companies struggle to convey complex concepts on camera in an engaging, easy and entertaining way for ordinary people. Navigating the intricacies of financial services requires expertise. This is where VerboLabs, with its team of video creation professionals, steps in.
At VerboLabs, we specialize in providing high-converting financial services videos. From corporate videos to creative customization, VerboLabs ensures your message is not just heard but resonates with your audience. If you want the best video creation services in the market, VerboLabs is the most suitable option.
CONCLUSION
In a world where visual storytelling reigns supreme, embrace the power of video marketing to not only survive but thrive in the ever-evolving realm of financial services in 2024. Connect with VerboLabs for a journey into video excellence that transcends the ordinary. Elevate your brand, engage your audience, and embark on a new era of success!
