As you know by now, I am quite biased when it comes to video marketing. Over the past couple years, I have written extensively about this continually growing trend. Video is here to stay. If you’re not using it now, it better be in your plans for 2017-18 because most marketing efforts are including productions to better connect with targeted audiences.
Let’s look at 17 ways to use video to promote your bank by enhancing ties with your audience and prompting them to act—by signing up for a new service, applying for a loan, enrolling in a seminar/webinar, or simply sharing the video with a friend (a.k.a., a prospective member).
Many of these ideas may seem obvious, while others will make you think of new ways to deliver content. My primary aim is to get you to use this medium. It’s been proven time and time again that video sticks and gets results.
1. Sales Video. Introduce a new product or service that addresses members’ pain points—problems, struggles, frustrations—and converts the relationship from a single savings accountholder to an active borrower, investor or student of financial literacy, for example.
2. Cross-Sell/Upsell Video. Just as many core processing and other technology systems have built-in cross-sell applications for credit union staff to alert members, videos can serve the same function by accompanying credit card, loan and CD promotions.
3. Thank You Video. Send members a message of appreciation for signing up for a new product or service, applying for a loan, or attending a seminar/webinar. Offer next best steps—perhaps with a segue to a cross-sell/upsell video.
4. YouTube Video. YouTube is the second largest search engine on the planet. To gain exposure across an expanding audience, post your videos on YouTube—or better yet, create your own channel. This mega-platform offers all sorts of benefits to attract new eyes and keep established ones coming back for your sharable, free content, offers and promotions.
5. Call to Action Video. Create a simple production that prompts members to take action and inspires them to take the next step, such as registering for a webinar, opening a CD, taking advantage of a super-low loan rate or downloading a free education guide.
6. About Me Video. Leverage the power of storytelling by creating a fun, creative and motivating showcase of your organization and its message and mission. This is one of my favorite video strategies for community banks.
7. Webinar Thank You Video. Webinars, if done right, are powerful and effective vehicles to deliver your message, educate, and promote products and service. But they do require members to take time from their day to attend. Once they have registered, thank them and give them instructions or pre-webinar details before you get started. They will greatly appreciate it.
8. Inspirational Video. Look for ways to inspire, entertain and share your message with members. This video can consist of member success stories, motivational talks from your president/CEO, educational content from subject matter experts, community outreach efforts, and much more. Again, these can be creative and fun to produce.
9. Product Review Video. With technology moving at the speed of light these days, members may be hazy on how a new digital service works (Apple Pay comes to mind). Feature one of your IT experts reviewing and explaining this service to build trust with members and position your credit union as a teacher and technology leader.
10. New Member Welcome Video. Many credit unions have produced these videos, and you should, too. What an ideal opportunity to create and build a connection from the beginning. Business at its core is all about relationships, and nothing breaks the ice like a personal welcome. This video can double as a subtle upsell/cross-sell.
11. Course Videos. If your credit union is offering an online course on investing, retirement planning, or debt management, to name just a few popular topics, then you’re a step ahead of the competition. A multi-week course keeps members coming back week after week, day after day for more information. This video production makes your organization a trusted resource. At CBbroadcast, we are producing a number of online courses to educate our audience in 2018. We can help you with the process.
12. Video Advertisement. We’re not talking about a traditional TV commercial that might get watched or passed over via DVR. Today’s advertising has become a pay-to-play game, and social media advertising is a fantastic way to find and attract members and prospective members that would benefit from your credit union’s products and services. Facebook advertising, if properly performed, can be an incredible investment delivering amazing results.
13. Launch Videos. When you’re ready to promote your product or service (Can you say mobile?), you’ll need to record this series of videos to alert members about the impending launch and build anticipation for its delivery.
14. Promo Video. Create these videos to educate members about a product or service that needs to be promoted over time. A tip that many marketers forget is to make these videos highly sharable to spread the word organically.
15. Free Content Video. Any time you can provide members with free educational content, do it. They will love you for it—and come back again and again as their primary financial and trusted resource. Many of us, me included, need all the help we can get when it comes to our finances.
16. Interview Videos. Q&A videos can be incredibly engaging. Interview an expert on a high-interest topic, such as mortgages or investments, and post the conversation in episodes. Keep them short—under four or five minutes is best.
17. How-To Videos. One of the most sought-after forms of video on YouTube is the how-to. If you have a product or service that might be confusing, that’s an opportunity to create one of these videos. Providing educational, helpful material builds affinity and trust.
What successes have you had in using video? Let us know so we can share your ideas.
Do your videos follow these three rules?
With video encroaching more and more in our professional lives and helping to market our businesses, one of the most powerful formats of this medium is the video interview. Whether you're interviewing success stories from customers (banks) or clients (industry vendors), these objective testimonies are powerful pieces of communication.
To see the emotion and transformation from the interviewee causes an immediate connection with the audience. That's the beauty of video. It captures facial expressions, voice inflection, body movement and so much more that enhances the message’s delivery and connection. It’s challenging to create that with text or audio.
So if you are going to venture down the video interview road, here is the successful video interview trifecta that will sure to connect and possibly convert your audience.
1. Be Succinct
As with most successful online videos, brevity is key for high viewership. There's a reason why so many people watch video, they’re short and to the point -- at least the good ones are.
So a timing rule of thumb is keeping your productions around two or three minutes. People are in a hurry these days. If you can get your point across in that amount of time — or less, the more views you will receive.
And for the interview format, unless it’s incredibly compelling, you want these to be short, as well. The last thing you want is to have your subject going on and on about something or veering off on an unrelated tangent. Boring your audience is not the end goal. It’s all about audience engagement. If this scenario occurs, editing for brevity is a must.
Keeping your video interviews brief also keeps your audience engaged. Even if the video goes long for some reason and you can’t edit it down, break it up into multiple parts or a series. Then tease the next part coming up like a cliffhanger for your viewers to keep them coming back for the next episode.
Another bit of advice for brevity, coach your interview subject beforehand, telling them to keep their responses short by getting to the point quickly. You might have to shoot a few takes, but it will be worth it in the performance of your video interview. Study after study has shown short videos receive high viewership
2. Be Informative
Like being succinct, you have to be quick presenting your information. Studies have also shown that viewers check out of a video within seven seconds if it’s not interesting. So whatever golden nugget of information you or your interviewee has, present it within seven to 10 seconds to keep your audience engaged.
Here’s an idea: Place a compelling teaser quote or soundbite from the interview at the beginning of the video to hook your audience immediately. That soundbite from your subject may naturally occur later in the video, but it’s so compelling you have to tease or lead with it at the top of the video to hook your viewers. The viewer will see it later in the video and connect the dots. It’s a very effective technique that most TV newscasts have perfected over the years. So why not your online video interview?
Another tactic is to use a list: “5 Ways to Save for a Rich Retirement,” “4 Steps to a Robust Savings,” “3 Effective Strategies to Improve Your Mortgage Lending Performance” are a few examples.
If viewers see a list like these in the title, they are more likely to watch because they know they can get through the points quite quickly. But the caveat here is not to make the explanation of each step, strategy, method, etc. long. Keep them brief, as well, so you can move on to the next one.
3. Be Entertaining
You don’t have to be a clown, magician or stand up comedian for these productions, but having a bit of energy and personality sure helps. Remember the high school teacher in the movie “Ferris Bueller’s Day Off” (dating myself, I know)? He would take roll in class in a very monotone, boring voice: “Bueller … Bueller … Bueller …”
It was funny in the movie because most of us can relate to going back to our high school days. But it won’t transfer very well in an online video interview. Your audience will click over to a cute kitten dancing to the Grease soundtrack video in a millisecond if you or your guest sound like that. It won’t matter how good your content is, having a vanilla mannequin as a guest and/or host spells disaster for any production.
So, again, make sure you and your guest have energy. It shows passion, interest and enthusiasm — and viewers are attracted to this positive vibe. Having this vitality and optimism may take some guest recruiting. But once you find a few, it’s gold.
Surprisingly, finding folks like this is getting easier and easier today, as many of us — along with the younger generations — are getting used to video because of smartphone technology. It’s not such a big deal anymore stepping in front of the camera because it’s happening everyday for a lot of people. We are becoming more and more acclimated to being on camera than ever before.
So the camera is not just for actors and newscasters anymore. With the advent of the smartphone camera, it’s for all of us. And this mobile tech means finding upbeat guests for your video interviews won’t be as challenging as in the past. They just might need a bit of coaching on how to be brief and get to the point quickly.
Again, video interviews are very powerful pieces of communication. They catch every nuance of a person’s personality and how deeply they were affected by your credit union’s help. Viewers can see it immediately. And that’s good TV.
How are interviews working for your organization?
As video becomes increasingly prominent not only in our personal lives but in our businesses, creating sales productions for the “screen” are becoming staples of more and more marketing plans today. But I don’t see these productions as really sales pieces – unless it’s your local car dealer or furniture warehouse declaring (cue the baritone voice with the echo effect): “It’s our annual liquidation sale! Everything must go, go, go, go!”
Instead, video presents an opportunity to connect and teach on a personal level.
For banks, these productions (if done right) are tools that provide helpful, educational information to customers and greatly enhance the value of your financial institution. A teaching-focused video can create and foster strong, personal connections that ultimately position you as a trusted, primary financial resource. That’s the road you want – not the loud, extreme “sky is falling” promo from Candy’s Classic Couch Emporium.
In this article, we cover eight steps on how to create an awesome sales/marketing/educational (whatever you want to call it) video production. Again, to achieve a greater connection with your members, you have to seriously consider producing a series of these videos that also rise above today’s ever-increasing marketing noise.
But how do you create a video that doesn’t fall flat or even repel the viewer, defeating the whole purpose? And believe me, there are plenty of them out there that reek of eau de lameness. To avoid creating a classic clunker, follow the eight steps below and you’ll be well on your way to a successful production that gains attention and results…
1. Get Attention
Right out of the box – or the first frame – use a compelling question, impressive statistic, clever humor, or a big promise to hook your members and keep them watching all the way to the end.
Much of the time credit unions are getting member/consumer attention with super low rates on loans. This tactic is fine, but after a while it almost becomes white noise. There are so many numbers flying around from different financial institutions, it’s dizzying.
One tactic that will permeate the eight steps and set you apart is creating a story that stems from a consumer’s desire to need a low rate. Why do they need it, how will it help them, and what do they need to do to get it? This would be an ideal stage setting, indeed.
2. Identify the Problem
Everything you sell must solve a problem. The bigger the problem, the bigger demand to solve it.
One big desire that most of us have, unless you’re Donald Trump, is to save money. The Donald, in all likelihood, probably doesn’t have too stringent of a budget to live on. But the rest of us, most likely, yes.
So the problem is to make a smart purchase and not to bust the budget. But “saying” and “doing” are two different things. How can the consumer achieve this feat successfully? That’s the problem. Now for the rub…
3. Agitate the Problem
It is not enough to simply identify the problem you will be solving. You must agitate it for your audience to really engage. What does that mean? It’s what happens or what the worst-case scenario could turn into if this problem persists.
In this case, we want to save because that’s what we’re told is the smart thing to do. But we also want to have the best, which might cost a bit more. It’s the classic case of the angel and the devil on each shoulder bickering about saving vs. spending.
That’s agitating that we all can relate to – and resonates really well on screen.
4. Identify the Solution
The solution isn’t you or your credit union’s products or services. The solution creates an inherent problem, which is: how do I fix or stop the original problem?
Cue your credit union riding in on shiny white stallion ready to save the day: a.k.a. the solution. Your credit union is the solution because it’s a solid financial institution that has super low rates, superb member service, and much more that allows the consumer to perhaps spend a bit more and save at the same time.
That’s pretty cool. So how does one do this at your credit union? Let’s proceed to step five.
5. Introduce your Product/Service
Now it is time to introduce what you’ve been pitching. Include a big promise or guarantee with your introduction.
For example, it’s time to show off your new auto or mortgage lending package with those super low rates that will allow your member to spend and save – satisfying both desires. You can also declare, in a non-salesy tone, that your credit union’s rates are some of the lowest in town – or even the lowest if that’s accurate.
6. Results and Benefits
What does your product/service do that will benefit your members? Can you demonstrate any unique features or selling points? (Remember: For video, you want to show, not tell.)
Here’s another cool strategy to use: To decide if each result or benefit your product offers is worth sharing, ask yourself: “So what?” after each.
This question is an excellent barometer to see what registers and what doesn’t. But just don’t ask yourself, ask others – especially people who are not associated with the credit union. You want this message to resonate strongly with your viewers. What results and/or benefits really matter? It’s the “proof in the pudding” that will spur your members to act.
7. Your Call to Action
What should your viewer do next? Use the “if/then” formula to create your call to action. For example, you could say: “If you are struggling with buying your first home, then click here for our first-time home-buyer mortgage loan packages” or “If you have less than stellar credit, then stop by and check out our special auto loan offer for you.”
Whatever the message it is, it’s imperative that you literally instruct your viewer on what to do next. If you don’t prompt them to act, your video is simply an entertainment piece. If you do prompt them to act, then it’s a potential sale that ultimately helps them in the end – a definite relationship builder. They’ll love you for it. So tell them what to do.
8. Social Proof
If your members who are watching haven’t taken action yet, try including endorsements, testimonials, super short case studies, and reviews in your video to provide social proof. These folks need a little more prodding to get moving – and social proof usually gets them out of their chairs. Social proof is peer-related proof that’s relatable. If they see somebody who has a similar story, immediately they can relate and it makes it real for them.
So those are our eight steps to creating a killer credit union sales video. These steps have been proved time and time again in other industries – and even other media. So why not credit unions and video?
You can have each of these eight steps strategically placed in a 30-second commercial or even a two-minute informative piece. Time doesn’t matter – just as long as each step is included and illustrated.
Lastly, video is not going away. It’s only going to become a more and more popular and effective tool for businesses. Now is the time to start working with it. Or if you already are, now is the time to refine and perfect your messaging tactics with it.
What are you doing with your video sales/education pieces? And how are they working for you?
At nearly $397 million, Pirates of the Caribbean: On Stranger Tides (2011) is the most expensive movie ever made. Coming in second and $100 million less is Titanic at $294 million -- and then Spiderman 3 at $293 million. Yes, these are obscene amounts of money that many of us don’t have stashed away in the kitchen cookie jar much less our savings accounts. But, many times, it’s because of scary cost scenarios that companies – including credit unions – shy away from video.
That said, almost every week I get a few emails from CBbroadcast viewers asking me how I do my online and onsite interviews without an expensive Hollywood production budget. Yes, I’m happy to say that I can take off a few of those million-dollar zeros and come up with fairly good quality productions for under $1,000 (post computer purchase). The productions are labor intensive, but the equipment cost doesn’t have to be.
For instance back in the day, you would have to hire a crew to come in and rig up the lighting, wire interviewees with mics, and set up camera(s) at various angles. This process is still done today and many times valid for the type of production you are trying to achieve. It’s pricey. But if you can afford it, go for it.
Many of us, however, don’t have the budget to hire an expensive video crew like this. Plus, it’s a bit intimidating and time consuming with all the people, lights, mics, cameras, etc.
I’m here to provide a quick and semi-easy way to shoot your videos on a DIY budget and still get terrific results. Maybe not Hollywood production results, but how many of us or our corporate productions end up on the big screen? Very few.
Most video productions end up on YouTube or on your website (a.k.a. online), where the actual video quality doesn’t have to be uber HD. It’s delivering the compelling content that counts.
So now the stage is set. Here are my tools of the trade for producing video:
For onsite video shoots (b-roll and interviews), I use my trusty Nikon D5100 (DSLR camera $500). When I first started shooting onsite interviews, I used a little Kodak Zi8 pocket camera ($200), which, for the price, rocked. Today, the Nikon D5100 allows me to shoot stunning stills and hi-res video. A fantastic investment.
More recently, however, I have used my iPad Mini 2 ($319) for shooting onsite interviews. Amazingly, I have found the quality to be somewhat similar – especially if you’re posting online to YouTube or your website. It’s so easy to use with a Makayama iPad movie mount ($70) for tripods. It looks a little hokey, but it works really well.
On one occasion, my iPad’s battery died while I was shooting. Operator error on my part. So I took my iPhone 6 out of my pocket and used that. With the better lens than the iPad, the videos I shot with the iPhone were a bit better quality. I have used it several times since.
The reason I’ve started shooting with my iPad and iPhone is that they synch perfectly with my MacBook Pro and its bundled iPhoto and iMovie programs. As a result, the production process is more efficient than most other processes. I’m sure the same can be said on the PC side using an Android smartphone or tablet. If you’re not shooting major motion picture, than these tools work really well.
For sound on my onsite shoots, I use the RODE VideoMic Pro ($250). I love this mic. It’s directional meaning that it primarily picks up sound directly in front of it – not omni-directional that picks up everything around.
This mic fits perfectly on the Makayama light/mic mount on top (above the iPad). Just make sure you point it toward your subject and it picks up the sound like a charm. And, if you want the sound to be a bit louder, just hold the mic in your hand reporter style. The sound is even better. (I only do this if there’s a lot of background noise like at a conference.)
If you want to get a bit fancy, you can use a boom mic stand ($25) to get the mic closer to the subject without it being in the frame. It also provides hands free movement in case you have to do a little show and tell.
Other mic brands to consider include: Sennheiser, Blue, and Audio-Technica. But above all, please don’t use your camera’s built-in mic if you want decent sound. You can use it, but it will sound “tinny.” That’s annoying to the ear. Sound is the one thing you want to splurge on if you can. What good is a video with really good content if you can’t hear it well?
For lighting, I try to find an area with as much natural light as possible. The sun is your friend when shooting. But sometimes shadows can wreak havoc on your shot (even indoors) and you have to use a studio light to eliminate the shadow. Most of my onsite shots are indoors. So I scramble for natural light, which means I have to use studio lights to complement whatever light there is onsite.
I use the Westcott uLite Constant Light Kit – and for $250 it does the job very well. You can get lighting kits for a bit less or way more. I just stumbled across this one in a pinch when my primary lighting kit didn’t show up onsite one time recently (thank you UPS). I’ve used this set-up ever since.
Lastly with lighting, always position your subject with the light source on their face. Never have a ton of light coming from behind them. They will appear as a silhouette in the picture – something out of the witness protection program. Not good.
Face them so they are looking at the window (especially if you don’t have a lighting kit) with the light directly or indirectly onto their face. Makes a huge difference. You can even add lighting kit lights to fill in shadows in the background or add warmth to the picture.
So that’s it for our onsite shooting tips and tools. These items prove you don’t have to break the bank (err, credit union) like Hollywood to shoot and produce a quality video.
Next month we will cover how to cost-effectively shoot interviews (member testimonials, especially) or footage online with all the software and a bit of hardware, too. This is where the technology truly shines and you can produce some compelling videos right from your office.
And let us know what you’re doing with onsite shoots. We’d love to hear and share. Nothing gets your message across quite like video.