The rise of video marketing Fintech – what you need to know
Technology is evolving at speed. In a rapidly developing marketplace do you still know who your customers are and what they want? By revaluating your marketing strategy, you can ensure that your Fintech doesn’t get left behind. And if you haven’t yet considered using video, then now is the time to embrace it.
Being able to access online services and websites has never been easier or more popular. Currently, 98% of Gen Z members own smartphones, while 97% of people aged between 25 and 34 use handheld digital devices. And the global pandemic has encouraged wider use of digital technology by all ages, in some cases speeding up adoption by several years.
So, it’s no wonder that most businesses are now focusing their targeting strategies on customers through digital marketing.
Fintech video marketing – do what works well
But, having increasing amounts of content available at people’s fingertips leads to the biggest marketing challenge facing Fintechs today - how can my brand be heard over the noise of my competitors?
The answer feels simple because it makes a lot of sense; embrace different formats that are proven to work well.
According to Tech Bullion, 55% of visitors to websites and social media pages are likely to leave a page in less than 15 seconds if the content doesn’t immediately grab their attention.
Content is instant and infinite and unless they are specifically looking for your brand, potential customers may be unwilling to wade through large amounts of text to learn more about what you are selling. That’s why you need to simplify information, while still catching your customer’s eye.
Videos are a great way to engage with people and educate them on what your brand is selling, in a short amount of time. This is especially important on social media networks, where people are likely to be scrolling through and need something eye-catching to tempt them to stop and look.
Video content can be the perfect solution to this problem for your Fintech business, and can be used in different ways:
To convey news and information about your company
Explain complex technology or abstract solutions in a visual and engaging way
Demo products
As a transferable format for use on social media platforms and websites
To promote your brand, company leaders and thought leadership
To support your company at meetings and conferences
Video is effective, engaging and memorable – and can be easily reused across different events and platforms. And it is already being widely used as part of effective Fintech marketing strategies. In 2020, 85% of businesses around the globe were reported to be using video and imagery tools for marketing, and 88% of marketers were seeing positive return in their video investment.
Your ideal Fintech video marketing strategy
No matter how good your ‘game changing’ idea for a video might be, you need to have the right tools and expertise before jumping in and creating it. To use the medium effectively, and maximise your investment, a robust strategy needs to be put in place for efficiently running video on your company website and through social media accounts.
An infrequency of posts or a lack of diverse content will quickly make your pages uninteresting, increase your bounce rate and discourage returns and subscriptions.
Imagery and video are great tools to have at your disposal, with businesses reporting that if they have video content on their channels, they have seen a 48% increase in views on platforms like Facebook and Twitter, while on LinkedIn view rates have increased by 50%. It isn’t difficult to see the benefits here.
Fintech challenges that video can support
Interest in Fintech companies has been increasing over the last few years, with browser searches about ‘money transfer and payments’ dramatically increasing in Fintech results from 18% in 2015 to 75% in 2019.
The challenge that now faces Fintech businesses is that increased interest – including legacy banking companies digitising their features to accommodate online banking – means more businesses are trying to ride the digital wave. Needless to say, that means increasing competition to stay afloat.
Video content can help give your brand authority and recognisability, with repetitive visual stimuli, colours, theming and distinctive flair, which will remind viewers what your company is all about. It can also quickly educate potential customers about your business offerings through approachable and eye-catching visuals.
Fintech companies are often looking for ways to help their customers process a lot of information in a short amount of time, and video is a key solution for this.
Creating video content will require more time and resources to ensure it meets the professional standard you are looking for, certainly in comparison to written pieces, but the risk is balanced with reward.
For example, app-based challenger bank Monzo has amassed over 3.9 million users since its launch in 2015, helped by distinctive video marketing campaigns.
Monzo arrived on the scene at exactly the right time to build on interest in visual content, which has led to steady success. Today, views of its short 20 second videos on social platforms such as Twitter number are in the thousands, and sometimes millions.
How we can help
The main reason for hesitating about including video in your digital marketing strategy may well be whether you think it is worth the investment.
At Curious Cat, we know that every business has potential to expand its horizons, and adding video to your brand can help you reach a wider audience.
We can look at whether video works for your vision of your company’s future, and how to maximise its use with a strategic framework. Our inbound marketing strategies [CP1] are dynamic and tailor fit to your specifications, so it never feels like your company’s voice is missing.
We know what works when it comes to Fintech digital marketing and our experts can help you see new business potential.
Want to learn more about the services we can offer you and your marketing strategies? Be sure to book in a strategy call with us, so we can help you broaden your future possibilities.