March 13, 2018
Fintech companies have boomed in recent years, shaking up the financial industry and changing the way people earn, do their accounting, transfer money and more.
They are at the cutting edge of innovation, but because they operate in a competitive environment, it’s often difficult for new fintech companies to get the traction they need.
So how can you reach new audiences and tempt them to try out your product? How can you convince them that they need what you are offering?
As a marketing tool, video is on the rise, and more companies are starting to rely on it to engage with their audiences. According to research carried out by Hubspot, 78% of internet users watch videos every week, and 55% watch them every day. Also, by 2019 a massive 80% of all consumer internet traffic will be made up by videos.
But fintech companies are in an especially good position to take advantage of the benefits offered by video. If you’re a Fintech company, here’s why you should be using them – and how to get the most out of them.
First, let's quickly look at the various ways video can be added to your marketing toolkit. These include:
Why are videos so effective for these? Here’s 3 great reasons:
There not many ways that are as effective at communicating personally with an audience as video. With a video in place, you can speak directly to your audience and highlight their pain points and their issues in a way that you just cannot do with text alone. A well scripted video should put your target audience at the heart of the video, walking them through how your product/service can help them.
Nothing builds trust quite like a video. If you want to build confidence in your brand – which is especially important for fintech startups – a video helps you do that.
You could use videos to promote your company values and show your potential customers that you can be trusted by citing existing customers and how you’ve helped them. The tone of your video can be friendly and even humorous, humanising your brand – which is especially important for financial businesses where a high degree of trust is needed.
The very nature of fintech means that products are often complex. Even when you are targeting a financially savvy audience, it’s still crucial to simplify the complex, and videos are the best way to do this.
Using text alone can make your product look more confusing than it is, turning off potential customers before you’ve captured their interest.
So simplify the complex by using animations and a voiceover and show viewers why they need your product. Educate them on the benefits rather than confusing them.
You have various options when it comes to using video. You can use all of these or choose one, but they all have a place:
A product explainer video using a simple, direct script is one of the best ways to tell the world what you do and how you can help them.
These videos get right to the details to provide an overview of your service and its benefits to tempt your targets to find out more. A clear, compelling script combined with strong visuals provides viewers with a quick and engaging way to find out whether your solution is right for them.
Here’s an example of how EQ Global used an animated video to explain how their payment solutions for travel businesses works:
These videos answer the most common questions about your product, which can be particularly useful if you have a complex product that needs a bit more explanation. You could use this type of video to introduce customers to services or features that they might not be aware of in a simple and accessible format.
Build trust by creating a video that introduces your company to the world. Explain to viewers what you do, provide details on your backstory and explain the solution you solve. Show the human face of your business to build trust and increase awareness.
Video is the best way to get the word out about your business, especially if you have a complex fintech product.
So explore videos to get the word out there about your fintech solution. Videos are the best way to connect and build trust, and they are only going to become more important over the coming years, making now a great time to explore them further.
We'd love to hear from you, so get in touch an find out how we can help your business.