Jump-starting your bank with video marketing
By Jackie Fedeli
Mevery bank and credit union struggles with video marketing thinking a professional videographer is out of their budget. But while some types of videos are best left to professionals, you CAN create effective and engaging videos yourself.
Most videos on Instagram, TikTok, YouTube and other social media sites are shot with smartphone cameras. That’s what most of us are used to seeing. There’s nothing wrong with using a smartphone to create your bank’s promotional videos. Camera phone videos have become the norm so much so that camera phone light kits are available in more stores.
What kind of videos should your bank make?
When you’re producing video for your bank, the sky’s the limit. But you should think about what your audience appreciates. My suggestions for video marketing include how-to videos, financial education, and videos featuring your bank and staff.
How-To Videos. These can focus on using your bank’s digital tools and online banking features, for example. Popular examples include how to sign up for online banking and how to make a mobile deposit. Your primary provider may be able to help you with high quality videos on how to use your digital banking tools. If these are available to you, you should definitely take advantage of them. While videos taken on your own smartphone or camera are fine, high-quality videos with minimal effort and no cost are always a winner!
Financial education. Financial literacy is becoming increasingly important. So, if your financial institution wants to stay competitive, these types of videos should be part of your video marketing strategy. Around 34% of Gen Zers seek financial advice on TikTok or Youtube. Content with the #PersonalFinance hashtag has billions of views.
Some financial education videos may fall under the procedure, with topics such as creating a budget or applying for a student loan. Some may be more in-depth, like explaining the difference between different types of mortgages, the difference between a Roth and a traditional IRA, or comparing other savings and loan options. When you think about it, anything you could write on your bank’s blog can be good content for a financial education video.
Videos featuring your bank and staff. If you regularly post on social media, you might notice that posts about your bank’s staff get the most engagement. Your followers love seeing your bank being human, and social media posts with videos drive more engagement. Videos of your bank employees are a double winner! Post videos of corporate events, such as the grand opening of a new branch. If your bank or credit union is hosting something fun in one of your offices, like a Halloween pumpkin carving contest, create videos to share. If you already take photos of these events, go the extra mile and create a short video. Even if it’s 10 seconds for your Instagram stories.
Where to share your videos. Integrate videos into your social media timeline. Integrate them into your routine posts on the platforms you already use. If you don’t have a YouTube account yet, you absolutely need to create one. If you don’t already use Instagram, add it to the mix. To compete with TikTok, Instagram is pushing its Reels and has become very video-focused. If you’re feeling daring or want to try something new, venture into TikTok. Your videos really can be shared on any social media.
Add videos to your own site. If you plan to create explainer videos, you should add them to your bank’s website. Depending on your content management system, it may be difficult to add the video file directly, so you will need to upload it to Youtube, Vimeo or another site and add the code to your website. Even though you can upload the video directly to your website, I would still recommend using YouTube because adding the video natively can increase your website’s load time.
It is very easy to share your Youtube videos to other social sites like Facebook, Twitter and LinkedIn.
Don’t let your videos be one and done. Try to reuse if you can. Take a clip from a longer YouTube video and post it to TikTok or Instagram.
Advertising by e-mail. Videos are also great to include in your email marketing strategy. A mobile deposit explainer video might be something to include in an onboarding series for a new checking account customer. Videos on budgeting or explaining the loan process are great for Financial Literacy Month (or really, any time of the year).
Do not attempt to attach the video to your email or embed it in the email. Include a screenshot of the video that links to where the video is hosted on your website.
Create video marketing ads. You can also create video ads for Youtube. Google Ads allows you to create and run video ad campaigns to show on Youtube and other relevant sites in the Google Display Network. It’s much cheaper than running ads on network television. And you can target specific audiences.
Video marketing tools. If you make short videos for TikTok, Instagram or Facebook or repeat videos for YouTube and post them directly from your phone, you might be able to get by without any type of editing software. If you want to be able to edit your videos to some degree, there are a number of options. Many of them offer free trial versions so you can test them out before committing.
Adobe Premiere Pro is a leading video editing software tool. This tool will allow you to create professional quality 4k videos. Add high quality graphics, transitions, video effects and sound. Adobe Pro works seamlessly with other Adobe software, such as Photoshop.
Canva is a popular free graphic design tool that lets you edit videos. The free version of Canva has limited features, templates, and design elements, so you might want to consider the Pro or Enterprise versions if you want to use more advanced features. But if you just want to do some basic tweaking, the free version might be enough.
Promo Video Maker is a user-friendly platform designed to help small businesses promote themselves on social media. Like Canva, you can select templates and design elements. The promotion also comes with pre-made videos where you can simply add your logo and message. This tool is ideal for editing videos and creating Youtube intros. There are several pricing options so you can choose the one that best suits your needs.
Vimeo Video Maker lets you choose from templates, easily add graphics to videos, create gifs, and add music to your videos. The Premium version allows live streaming and webinars.
Vegas Creative Software is popular among YouTube creators and influencers. Vegas Creative is a complete video and audio editing solution. Advanced features include AI-assisted editing, motion graphics, color correction, visual effects, and “record and capture”.
If you’re completely new to creating videos, I suggest starting with a free trial or a low-cost option so you can get to grips with the process, then expand as your needs change.
Work with a professional. If you have a large budget or the staff doesn’t have time to create their own videos, you can always choose to work with a professional. Consider working with a digital marketing or media agency that knows how to create videos for marketing purposes.
Another option is to hire a local videographer. Although videographers and video production professionals can be expensive, consider working with a local film or media student. He or she will have the video production and editing knowledge and access to tools, but will not cost as much as an experienced videographer.
Light, camera, action. Ready to start? As you plan your social media or marketing calendar, start thinking about what kind of content you can turn into videos. If you already have videos on your site, start with those to create a video presence.
Then, offer financial education videos that fit your content calendar. Look at your upcoming events and take notes of moments you can capture and contact the appropriate staff members for assistance. There’s no wrong place to start when it comes to video marketing. All you need is a camera and engaging content.
Jackie Fedeli is a digital marketing strategist at BankBound.