Should your Credit Union be using Video Marketing? The answer is YES!
Video marketing is here now, has been here for years and it is here to stay. Video has become such an integral part of online marketing that your credit union CANNOT afford to ignore. It is the most effective tool for sharing information and entertaining content with your members.
Most credit union marketing tends to be basic and in print, or simply isn’t done at all. So how can your credit union stand out from the crowd? The nation’s top credit unions all have one major thing in common: they engage heavily in digital marketing.
Video advertising for banks and credit unions is evolving far beyond classic commercials and traditional TV screens. Digital disruptors keep coming up with new ways to slice audiences, and reach them with innovative formats and messages that engage and entertain viewers.
With Facebook Live, Facebook Stories, Instagram Stories, and all the video we see popping up in our social media news feed each time we log in. It is clear that video is being used not only by consumers but also effectively by businesses. However, throughout our video production services, we still find that many credit unions are not utilizing videos and that executives are hesitant to start or even consider this. Many credit union executives share the same concerns about getting set up to successfully start video marketing.
- What is the monetary investment necessary for my marketing team to start using video?
- Even if we have the money in our marketing budget, where do we even start?
- Do I need to hire more staff or do I need to outsource?
- Do my members really care about video? I thought it was just for social influencers, entrepreneurs or a waste of our time.
So, the question becomes, do the benefits of developing, executing, and sharing a video marketing campaign outweigh the amount of effort needed to successfully do so?
The answer is YES. 100%, there’s no doubt in that.
Here are a few reasons your credit union marketing team should be using video marketing.
1) Members love watching videos
Why does it seem that videos are popping up all over social media and in all of our emails? It’s because people love watching videos. Your members prefer watching videos over reading long loads of text. Videos have the ability to convey a ton of information in a quick and easy to understand format. Video also allows your members to connect with your local credit union and receive the personal touch that they would not get with a text article or from a big bank. Youtube has over 4 billion video views per day and is currently the second largest search engine, after Google. In 2015, online videos accounted for 55% of all mobile traffic and are forecasted to rise to 79% by 2020. Video content online is only going to continue to grow.
2) Search engines are all about video
Video is imperative if you are paying attention to SEO (Search Engine Optimization). Your credit union is 53 times more likely to show up on the first page of a google search if you have a video embedded on your website and throughout your social media marketing. Since Google acquired YouTube, marketers have seen a significant increase in how videos affect your company’s search engine rank. Simply put, your credit union cannot afford not to have videos on your website. You aren’t considered relevant by search engines if you don’t have video on your page.
3) Video helps to build a member’s trust
We all know the Know, Like and Trust factor. How often are the credit union executives are in the presence of their community? Going a step further, with mobile banking, how often are your members are even in your branch to even see who represents them? Having video on your website, social media channels, and marketing emails helps to put a face and personality behind your credit union’s brand. Video is a terrific way to build trust with your membership and connect with members when they aren’t in a branch. A terrific example of this is when a member first joins your credit union. Instead of sending a lengthy welcome email full of text, send a video welcoming the member along with a couple of helpful tips, links, and information that a new member would need.
4) It’s effective in grabbing and keeping attention
Video can also be used in marketing campaigns to quickly and effectively grab a member’s attention. This can inform them about products and offers available to them. An email with a video embedded is likely to increase email click-through rates and improve email engagement. Video tracking also allows you to see which members opened the videos, who watched it all the way through, and who replayed it. Having this information will allow your marketing team to build out lead nurturing campaigns and thus build a more effective sales pipeline. Your marketing team will also have a better idea of what content your membership finds relevant, and this will help you build more successful campaigns.
Hopefully, you now agree that video marketing is imperative for your credit union. But how do you get started?
Your audience craves video. Your business needs video. We’re here to make that decision easier for you.