YouTube is the second largest search engine on the web. With more than half (55%) of people watching online videos every day, video has become the platform for satisfying both informational and entertainment needs. If pictures are worth a thousand words, then “video is worth 1.8 million words,” said Dr. James MCQuivey in a Forrester Research study.
Video can be a great platform for credit unions and community banks to drive awareness, build trust and advertise products. Here are five types of videos that can help you make an authentic connection with your audience.
Gone are the days of the 8-minute corporate overview video. Nobody has time for that. More than half (56%) of all videos published nowadays are less than 2 minutes long. Break up your story into a series of short format videos that can communicate your history, mission and unique value proposition.
Make these videos easily accessible. Putting video in an email, for example, leads to 200% to 300% increase in click through rates, according to one study. Your videos should live on YouTube, your website and on social media. Viewers will be able to get an understanding of what you stand for and how you are different from the big bank down the street.
Customer Success Stories
When shooting a testimonial video, put purpose before profits. Meaning, tell your customer’s story first. Your customer/member is the hero. Be intentional by allowing them to inject their emotion to make a connection between them and the viewer.
If you have someone who is a first-time homebuyer, let them describe their sequence of events of getting their little piece of the American dream. Do they love having a big backyard? Do they entertain a lot? Did they buy a fixer-upper with plans to be a do-it-yourself remodeler?
Storytelling is worthless without action. Bragging about your credit union or community bank will fall on deaf ears. Address what your customer’s wants, needs, hopes and dreams are first. Do this and you’ll be positioned as an organization who deepens a connection.
As leaders, we know it’s important to ask great questions, but what’s just as important is having a sincere interest in the answers we give back. Whether you are shooting a training video for a new employee or trying to convey the intricacies of online banking to a customer/member, let’s aim to change what people feel and then change what they do.
Keep in mind that 90% of all web video consumption is done by 18 to 34 year olds – a group with tremendous buying power. A great explainer video should be digestible, engaging and entertaining, and not just informative. Whether you use animation, white boards or live action, show how to solve problems. Give them a call to action whereby they can have a personal aha moment. More insight and less long-winded details is the key to great explainer videos.
If your credit union or community bank is struggling to attract front line or call center staff, an online video can showcase your commitment to being a best place to work. Have your employees share stories of giving back, changing lives and growing professionally.
Engaged employees are 59% less likely to look for a job. If you believe you have a work environment where your staff’s voices are heard, show it. Happy employees equal happy customers/members. HINT: People want to do business with organizations that value their employees. It’s all part of being socially responsible.
When we say the word “commercial,” do you cringe a little? It’s probably because you’re thinking big brands and Super Bowl dollars. First, think digital video, such as YouTube (TrueView) ads, in-app ads and paid social. Digital advertising is forecast to rise from $8.5 billion in 2016 to $23 billion in 2021 – faster than any other segment.
Second, don’t disregard traditional television. Cable TV is cheaper than network and can target people in your area. Don’t make your decision on a hunch. Get sound pricing. You may not need a 60-second spot. In 10, 15 or 30 seconds you can drive effective brand awareness.
Frank Allgood has more than 15 years of experience in every facet of public information and marketing communications. As Relationships Development Leader for Your Marketing Co., he is responsible for strategic brand experiences and marketing initiatives for credit unions and community banks across the country. For branding or rebranding projects, call 864.326.8740 or email firstname.lastname@example.org.