Financial concepts and policies aren’t easy for the layman to understand. Marketing teams in the BFSI space need to find ways to simplify their communication so that prospects, clients and employees can understand the information they need to disseminate. Financial Services marketers are always looking for ways that can help make communicating with their target audiences easier and more effective.
Fortunately today’s digital era provides ways to solve this age old issue. Digital videos, specifically explainer videos, are a great way to engage, inform and convert. These videos, especially if animated or stock footage driven are not only engaging but also pocket friendly.
Here are 5 ways in which banking and financial services companies can use explainer videos effectively:
1. To introduce financial products
The BFSI industry is competitive and there are numerous heavily regulated players which aren’t allowed to offer much product differentiation to the end customer. When new products are launched, it’s often the companies that create the most buzz first, that benefit most. Some of these products are complex and hard to understand, so it’s important to simplify the messaging for the target market. Explainer videos are a great way to do just that. Videos that have a distinctive visual style, use brand guidelines and tell a compelling story stay in the minds of prospects and clients over a period of time. Videos are also highly shareable and can be used on several platforms including the company’s website, social media channels and digital messengers, ensuring that marketers get a back for their buck.
2. To upgrade their customer service
BFSI customer support teams are inundated with queries every day. Many of these queries are asked repeatedly by different customers. Explainer videos can be used to create a video bank of FAQs that simplify the answer to frequently asked questions, reducing the workload of customer support teams.
3. To announce policy changes
We live in a dynamic world where the central bank frequently updates financial policies at a national level. BFSI companies can use explainer videos to articulate and convey their messages in a simplified manner to their customers. Since links to these videos can be easily embedded in an email, they become a go-to method to circulate messages quickly and at scale.
4. To offering perks or rewards
BFSI firms sometimes offer rewards and perks to attract and retain customers. These could include discount coupons, webinars, free movie or concert tickets, learning events, or even airport lounge access. BFSI firms are known to update their offers, from time to time, to keep them relevant and thematic based on for example, seasons or festivities. Explainer videos are a great way to garner customer attention, engage with them, inform them and encourage them to avail these rewards.
5. To educate investors
By law, BFSI companies are required to spend a percentage of their profits on investor education. Explainer videos are the perfect way to educate investors at different points in the learning cycle. Investors can be classified into new investors, investors who’ve dabbled in the market and savvy investors. Explainer videos can be created for all three sets of audiences, helping BFSI firms appear helpful and knowledgeable. Once prospects trust the content in these explainer videos, they can be converted into customers.
But remember, explainer videos will only work if they are well made and appeal to the target audience. So be sure to go with the best explainer video company in the BFSI space.
Why choose Ripple Animation for explainer videos?
Ripple Animation is the best animated video agency in Mumbai, Delhi, Bangalore and Pune. The expert team at Ripple Animation is experienced in delivering explainer videos for BFSI companies to help meet their objectives.
Get in touch to see how your company can benefit from explainer videos tailor made for BFSI.
Also Read :
How Financial Services Can Harness The Power of Explainer Videos
How Banking & Financial Services Firms Can Use Animated Explainer Videos to Boost Sales