Financial service industries are up against a generational cliff. As a whole, financial service organizations and younger generations struggle to relate to each other. This is especially problematic because the whole industry is based on trust and relationships.
Video has emerged as a key solution to help with this. Why? We are naturally attracted to video content rather than large blocks of text. Video allows financial services to build more transparent relationships and explain complex financial products simply.
Even though video has proven to be a great way to connect financial services with today’s changing buyers, more than 90% of financial service organizations still have no video content.
To inspire you, and show that video does have a place within the financial service sector, we’ve rounded up 6 top organizations using video. Not only are they using video content, but they also use it in multiple different ways to engage and embrace their new buyers.
Organization: LeaderOne Financial
LeaderOne Financial is dedicated to facilitating the dream of homeownership by providing World Class Service. When potential new customers hit their homepage they are greeted with a wealth of knowledge at their fingertips (including a video section).
Not only are the videos informative and easily digestible ways to answer potential customers key questions, LeaderOne immediately engages their audience on their homepage— the area where most customers will look for information about the brand and its products.
Organization: Saxo Bank
Saxo Bank is doing something different with video by live streaming technical analysis of the day. Saxo’s Morning Call is the key point of daily contact between their experts and the broader public.
They offer real-time access to their chief economist and strategy team as part of a greater effort towards increased transparency, flexibility, and leadership in the field of online investing.
Their audience can join them live daily (for a quick 10-20 min daily broadcast) or catch the on-demand version later. It’s a great way to create a sense of urgency which increases engagement with their viewers.
Organization: Bank of America
Bank of America could easily fall into multiple categories in this post. They create some outstanding video testimonials and interviews for their audience. In their new video series, Bank of America asked real people in real jobs how they’re handling financial responsibility as a young American so viewers can find out how their peers are navigating the world of work in their own words.
How they organize their video content is what makes them stand out. Their video library pulls together all of the videos in this series in one central location. This allows viewers to easily navigate between videos and increases the time they spend on the Bank of America site.
Organization: HSBC Canada
HSBC Canada has started using Webinars to help educate their audience on how to take control of their cash flow. They feature top experts who share insights and tools, to help businesses better manage foreign exchange exposure and transactions.
Webinars are a great way to break to jump start your video content because you can use them in multiple ways. Not only can you host the live event but once it’s done you can promote the on-demand recording, cut it up and add pieces to a blog post, or turn the content featured into a great infographic.
Organization: Sunlife Financial
Sunlife Financial know that customer testimonials are extremely important for any organization. They help build trust and let potential buyers hear how people just like them use your product or service.
In the first of a series of videos, Sunlife asked real clients to talk about how good financial advice is making their lives brighter.
A customer testimonial video puts a face to the name. It allows you to connect a real human to the story and convey the emotion through body language, and dialogue. This helps you deliver a richer experience and keep your audience engaged.
Extraordinary Brand Storytelling
Wealthsimple was quick to jump on the video bandwagon. They knew that they could better educate, connect with, and highlight what they do through video.
Their videos garner over 1 million views on average and are just people discussing money (and investing). Their brand messaging “Investing for Humans” is amplified by using video to bring real faces to the story.
They are a great example of an organization using video across their business from customer testimonials:
To product explainers:
As buyer expectations evolve, so do many companies and video is a great way to make the transition easier. We hope these 6 organizations inspire you to find ways to use video to educate, engage, and delight your audience.
The post 6 Financial Service Organizations Crushing It With Video appeared first on Vidyard.
Our company, Everbridge, was founded after 9/11 to help improve the way people communicate and locate each other in a time of crisis. Our SaaS-based emergency communications platform is used by over 4,200 enterprise customers. It reaches over 500 million people in more than 200 countries
The technical support team at Everbridge is made up of three distinct teams and about 30 agents. We help our customers navigate our solutions and troubleshoot problems, some of which become quite complex and situational. On an average week, we field about 7,000 inquiries. If there’s a major disaster or weather event—for instance a hurricane—support calls can double in volume to 15,000 a week.
Video as a new touchpoint for support
We’ve always used traditional means of support (typically phone or email) to connect with our customers. But about a year ago, my boss came to me and asked me to explore using video as another channel for customer support.
Back then I didn’t know there was such a thing as Vidyard, so I researched and purchased a video recording suite and set up my own in-house digital recording studio. I also set up a YouTube channel and figured out how to get our support videos to play within our support environment so customers didn’t have to leave to get all the information they needed.
While it was fun, the cobbled-together approach was a huge time sink. We have more than 600 knowledge base articles that people use all the time and that had the potential to become videos. I managed to get about 12 videos done.
At the same time, my workload was expanding. So my boss and I started to look at ways to continue producing video content at scale. We set a goal to get about 50 done in a year. We also wanted to find a way to make our support videos more personal. The ones we were creating were canned. They couldn’t really reflect context or help a customer who had a specific or unique issue.
Vidyard solves the personalization problem
Around this time, my boss asked me to sit in on a webinar from a company called Vidyard where I was introduced to the platform. I then sat in on a demo of the product and got my hands on a demo environment so I could really kick the tires and see how we might be able to use the platform for support.
Working with our dev team I was able to get our support environment to query videos located in Vidyard. I was also able to integrate Vidyard into Salesforce so support reps could insert a personal video or playlist into their communications. I took what I built to our year-end business review and received glowing feedback.
We find video to be a terrific tool for explaining particularly complex things to customers. Expediency and accuracy are paramount for our customers, who are using our product in emergency situations. People don’t have time to be hunting around our support system trying to figure out how to do something.
I always say it’s a bit like using YouTube to replace the side mirror on your car. You might find videos that are close. But they don’t exactly solve your problem. There are so many variables with part numbers and makes and models and the like, that you’d spend forever hunting for the answers.
Personal video that exactly answers a customer’s question
What Vidyard has allowed our support team to do is create a custom video that exactly answers a customer’s question in as detailed a way as possible. It is like we’re reaching out through the computer screen to hold our customer’s hand and guide them immediately to the answer. And It feels different for the customer. When someone is answering your question 100% of the way, it increases a customer’s success using our product and creates product stickiness.
Support delivered via personal video is even better than a one-on-one discussion, because the whole thing is recorded. Our customers can go back to that video and replay it at any time. They can pause it. Rewind it. And on our end, we have the Vidyard analytics to immediately alert us when our customers are struggling.
Now, every person who joins our team is given a Vidyard license. They are using video to handle complex support questions and interact with customers in more personal ways.
Video has become a standard tool in our support arsenal. It allows us to build a video that nails a customer’s challenge right out of the gate. In my opinion, that’s truly a priceless capability.
The post How we’re using video to deliver better support to our customers appeared first on Vidyard.