If fintech wasn’t the newest, surest trend in 2019, the pandemic secured the industry’s place in 2021’s global market. Before the pandemic, adoption was doubling every two years, according to the Global Fintech Adoption Index 2019. We’d seen growth from 16% in 2015 to 654% in 2019.
The reason for this growth is in its agility compared to conventional brick-and-mortar financial institutions.
All of this is to say that the market is there – how does your fintech company reach it?
Here are the top video marketing methods to increase your reach and engagement within the fintech stratosphere.
75% of people are more likely to follow a brand’s social media page if it features video content.
Commit to video marketing
The biggest trap fintech companies fall into is that they aren’t completely “in” when it comes to video marketing. Financial companies can often see their brand as an exception to the rule. Many will run a top-class blog, which is great for SEO, but video marketing is crucial in:
- Increasing visibility: 93% of brands got a new customer because of a video on social media.
- Increasing conversions: 84% of people say that they’ve been convinced to buy a product or service by watching a brand’s video.
Types of videos suited to fintech
Videos for awareness
These are the videos that help set you apart from the competition. These video styles place a high priority on engaging, entertaining and informative that attract your ideal audience. The content is standalone while your brand becomes associated with this great, shareable content.
79% of users unfollow brands that post mainly promotional content. That’s why it’s crucial to provide content that is engaging and informative – a simple question to help generate content ideas is:
What does my ideal customer want to take away from a video?
It’s crucial to always think of customers first and strengthen the video with your brand’s voice.
Branded Informational Videos
What do your perspectives need to know? Can you give tips on investing for novice investors? Provide a mini-course for people wanting to learn more about bitcoin? Branded info videos give valuable knowledge that is subtle in branding. It is not brand focused.
Branded entertainment videos
This is critical! Fintech companies are notorious for skipping this content. Add a light tone to your content every once in a while!
Image credit: Instagram; n26
N26 is Europe’s first mobile bank, with 7 million customers in 25 countries. They decided to call out on the fact that only 12% of notes feature women. The brand created an AI feature in their app that swaps out characters and monuments on cash notes with a notorious woman in her field. Consumers are more likely to deal with brands that align with their values. The feature also calls for the person to download the app to use it. This is the power of video marketing!
Explainer Videos (animated)
We’ve have a whole series on animated videos. There are so many different options out there now, and selecting a suitable format while creating a unique slant can make the finished product sing.
Robinhood is an app to democratise finance for all. Their testimonial is where this ultimate brand goal comes to life:
Image credit: Instagram; robinhoodapp
66% of consumers are more likely to purchase after watching a testimonial video demonstrating how a business, product or service helped someone like them. Having a clear customer profile needs to be at the forefront of content creation.
The biggest tip for product demos is to avoid listing the software’s features and functions. Spin the focus instead towards how the software seamlessly helps the customer and improves how they manage their finances.
These suggestions are just the tip of the fintech video iceberg. If you’ve got a team of creatives in your marketing team or, your outsourced video marketing agency there is much potential for brand development and growth. Some other formats include:
- About us videos
- Explainer videos
- Live broadcast
- Demo videos
- Brand storytelling
- Case study videos
- Post-webinar video recordings
- How-to tutorials
- “Ask me anything” live videos
- Giveaway announcement videos
- Business/industry news announcements
- Behind-the-scenes/exclusive content videos
Tell a story
Storytelling is a critical aspect of video marketing – creating a theme, a tone, and emotions are what makes any video worth watching for the viewer.
Square provides solutions and tools for businesses to grow. In this testimonial, the barbershop owner recreates his nostalgic childhood experiences for his customers, and Square is perceived as the facilitator to this business owner’s success.. The brand is portrayed as a conjurer of dreams:
This is not the type of video you’d expect when you hear its a testimonial for a merchant services aggregator. It’s up to the brand to create intrigue, engage and entertain.
Create a strategic content calendar
Planning ahead of time enables more structure and gives time for creativity, enhancing the value that your audience receives. If you leave planning to the day of posting, the whole process can tend to feel rushed. At the same time, over-planning can be a disastrous move as your brand can feel offbeat from the rest of society. Social media trends, preferences and even features change so often that it’s helpful not to record posts too far ahead of time. A good guideline is to have:
- a document that outlines what you want your audience to see in the coming three months
- A spreadsheet breaking down the next month’s campaign
- Either a deck or use of an app such as Later to plan the week ahead
Planning for the year ahead is overkill. Remember to pinpoint international days and take time to research and create quality content to share. It doesn’t have to be directly related to fintech, in fact, it’s better if you join in on the more whimsical celebrations to show off your brand. Posting an Instagram Reel of your office’s celebration of #nationaldoughnutday often goes down a treat!
If you’re looking to create engaging video content for your fintech brand with a focus on compelling storytelling– you can get in touch with us here at Videoworks.