In the fast-paced world of finance, staying ahead of the curve is essential. One way financial services companies can differentiate themselves is through the use of innovative video technology strategies.
According to Fortune, a whopping 88% of in the U.S. are now using fintech to do their banking, make payments, and invest. That’s up from just 58% last year! And let’s be real – this sudden explosion of fintech has seriously raised the bar when it comes to customer expectations. People want seamless experiences across all their financial dealings, and they want them now.
That’s why a lot of successful financial institutions turn to video to give their customers that modern, yet still personalized and engaging experience they’re after. If you’re in the financial services sector, here are four ways you can use video to gain an advantage over your competition.
1) Offer a more Personalized Experience
One of the biggest benefits of using video is the ability to create personalized, engaging experiences for your customers. Videos can be used to explain complex financial concepts in a simplified manner, offer tailored advice, and build stronger relationships with clients. This will usually lead to higher engagement and more satisfied customers.
For example, one of our clients is a large financial advisory group who exclusively caters to clients who fall in the highest income brackets. The advisory group attempts to hold quarterly conference calls with their clients to review their goals, provide an update on investments, discuss economic conditions, etc.
The problem is, their clients are located in different time zones and generally have busy schedules (making it difficult to schedule regular cadence calls). Whenever one of their clients is unable to make a call, the advisors record a customized video which covers everything on the regular agenda and sends a link to the client for them to watch on-demand.
2) Recruitment and Employee Engagement
Finding talent in the financial space and be a challenging task, as it requires a unique blend of skills, education and experience. Video is a powerful tool for attracting top talent and keeping employees engaged. With the rise of remote work, video interviews and training sessions have become the norm. Videos can also be used to showcase your company culture and values, helping your organiztion stand out to potential candidates.
3) Enhanced Marketing and Lead Generation
Videos can be used to create compelling marketing content that can be shared across multiple channels. They’re a great way to showcase your services, highlight your expertise, and provide valuable educational content that can attract new customers.
4) Increased Efficiency and Consistency
Video can help financial services companies streamline their operations, reducing the time and cost associated with face-to-face interactions. This includes using video for client onboarding, customer support, and virtual consultations. Videos can also help ensure consistency in messaging and branding across all customer touchpoints.
Utilizing video technology within your financial services organization can bring about a myriad of benefits, including increased personalization, engagement, efficiency, and scalability. By embracing the power of video, financial services companies can set themselves apart from their competitors, remain ahead of the curve, and establish stronger connections with their customers. With all these advantages in mind, why wait any longer? Start implementing video into your strategy today and start reaping the rewards.