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Covideo Blog - Video Email News

Finance Explainer Videos

By: Olivia Slade-Silovic | May 6th, 2019

You’ve probably heard that the average attention span of your audience has been plummeting. Statistically speaking, about 17% of you are about to click away as you’ve already spent 4 seconds reading this article.

However, if this blog post were a video – you would stay longer.

Nowadays, marketers are competing in a world where engagement is the main currency.

Text just doesn’t make the cut anymore, while storytelling via video can boost your conversion rates by up to 80%.

Whether you are marketing a simple product, or difficult-to-understand financial services, video does a better job of telling your story.

Complex ideas can be so much easier to understand when presented effectively, especially in the world of finance. Consumers of all ages find financial tasks difficult and confusing, and many of them often run the other way when faced with scary financial responsibilities.

When it comes to finances, the majority of consumers are just winging it. They often get confused because they don’t understand which solution fits their specific needs.

That’s where finance explainer videos come into play.

Financial institutions, investment specialists and financial advisers could all benefit from using video. Financial explainer videos give you the ability to clarify your services and build trust with your customers.

Here are some of the other benefits of using finance explainer videos:

They are educational

When it comes to finances, many consumers are in the dark. Not everyone has adequate information or knowledge about financial topics. Things like loans, savings, credits and other banking and financial topics can be confusing and overwhelming. However, by providing an explainer video, you can communicate tough concepts in an easy-to-understand and engaging manner. Take this opportunity to convey the finer points of specific concepts in a way that is both helpful and memorable.

They can be used for personalized billing

In today’s world where technology is advancing at the speed of light, most industries are trying to implement paperless methods for billing. More often than not, it can be difficult to interpret the data being presented. Personalized explainer videos can help clients break down their billing information. Videos that are vibrant, informative and contain fun imagery make learning about billing data more interesting. Some might even argue that it can be entertaining!

Videos can show how your services work

There are numerous products and services on the market that make it easier for consumers to manage their financial obligations. Financial institutions can demonstrate how their services can help solve a particular problem through the use of animated videos. Oftentimes, consumers feel more confident about a product and are more comfortable making a large purchase after viewing an engaging explainer video.

Policy changes can be announced using a video

Policy changes are inevitable in financial institutions. Because of this, it is extremely important that any business practice modifications are made known to the consumer immediately. Whenever a change is made, companies need to quickly and clearly explain how a new procedure will affect existing clients. The best way to accomplish this is to send out a video detailing the modifications, when the changes will be taking place and what they will impact.

Effective customer retention

When you can’t be with a customer in-person, video is the next best thing. Having a good relationship with your clients is a huge decisive factor in competition. By sending an attractive explainer video, you can up customer satisfaction levels. Because we live in such a fast-paced world, most customers look for a loyal and reliable partner as they attempt to navigate financial waters. Personalized videos or explainer videos can help strengthen customer retention.

What are the benefits of using finance explainer videos?

Most people find financial statistics to be dull and boring. It is easy to bring these important numbers to life with a variety of animated charts and visuals. Videos allow you to communicate changes in a comprehensive way for consumers to adapt quickly.

By building on common knowledge and using dynamic imagery, finance explainer videos can make it even easier to convey unfamiliar ideas.

Financial organizations can build trust and increase visibility among consumers by simply using the power of video.

So You Want to Make Your Own Finance Explainer Videos

The most effective explainer videos contain all six of the following aspects:

The Script

This is the heart of the video. The script should contain important details of your product or solution that can be conveyed in 90 seconds or less. Think of the script as an elevator pitch for your brand.

Voice over

The voice in your finance explainer video should reflect your brand well. It should be similar to the tone of voice already established on your website and social media pages.

Graphics

Graphics should reflect your target audience while also being appropriate and culturally accessible.

Music

Similar to voice, the tone of the music should also reflect your brand. Remember, you’re trying to bring out the right emotions from your audience.

Animation

The animation of your video should flow easily and be easy to understand. Anything from motion graphics to 3D videos can be useful – it all depends on your brand and your budget.

Subtitles

According to Digiday, 85% of Facebook users watch videos without sound. So when you’re advertising on social media, subtitles are a must.

Even if you’re not ready to begin creating finance explainer videos, why not give personalized video email a try? Sign up for our 14-day free trial risk free.