Did video marketing really change at all in finance in 2015?
At the end of 2014, there was a lot of talk about the type of video that would really take off in 2015 and how related marketing would be impacted. Forbes gave a pretty decent ‘top 5’ predictions, including increased video marketing automation, targeted marketing, original and premium content, interactive videos and a greater focus on mobile.
In the broader market, when looking at the FMCG market for example, you might say that some of these predictions came through quite clearly – Interactive Ads, for example, led to some massive increases in engagement and conversion, raising the bar on how video should perform when done right.
The finance sector, however, as in many other aspects of marketing, is still dragging its feet when maximising the value of video for its business purposes. I could almost use the same list for changes that we’d see in 2016 for the finance sector, again.
So, will things change at all in 2016? If so, why and how?
I’m going to look into my crystal ball and cover what I think will be 3 realistic changes in the finance video landscape – we’re not into all that fancy stuff just yet!
1. Video strategy
There has been a lot of talk about B2B video content strategy in 2015 – planning your shoot days to maximise longevity, repurposing footage, driving prospects along the marketing and sales funnel with relevant content at each stage. Sounds good, right?
But have we actually seen much of this in action in 2015?
The short answer is “no”.
The longer answer is “I guess, to some degree”.
Whilst many marketing professionals endeavour to plan and curate their content, this is often done as an afterthought, rather than the initial part of their content creation efforts. Some marketing teams aren’t as au fait with video production as other types of content too, so it’s a bit more of a difficult task than usual.
Financial institutions, intermediaries and advisors will always see a better ROI when they plan, execute, review and improve on a proper video strategy, with KPIs giving them the opportunity to properly monitor and improve on results. This helps their CFO see the value in this type of content creation and will lighten the load on marketing teams, when done right.
Spectrecom are offering this service in-house now, helping businesses to understand how to approach this tricky subject.
Expect to see less ‘flash-in-the-pan’ video creation and more joined-up content across various campaigns in 2016.
2. Brand films
With fresh competition from the ‘disruptors’ in Fintech, more established firms are updating their brands accordingly (disruption has become an overused term, but it’s still holding fast with Fintech).
UBS did a big brand refresh in 2015, Baker Tilly finally took on the global RSM brand, Julius Baer released an ambitious brand film directed by Marc Forster (‘World War Z’, ‘Quantum of Solace’). All this, to me, means that the big boys are a little wary of the competition and are scrapping to entice the gen X/Y crowd, before they lose them to the innovators forever.
The biggest in the industry will usually lead the way with advertising (proving so in 2015).
With the cost of production more competitive than ever, 2016 will produce a host of brand-led films from those businesses just outside the ‘top 10’ of their particular vertical.
3. Higher-quality creative
It’s easy to pick up your mobile, or a DSLR, and think you can make good video content. After all, content is king… right?
Well, yes it is… kind of.
Glossy content with no substance won’t work when it comes to video. If it looks great but the content doesn’t resonate, people won’t remember it.
On the flip of that, interesting and insightful content won’t make much of an impact if it’s not easy on the eye, or the audio is hard to hear – people will switch off and go find something easier to digest.
So there’s a balance to strike and it usually comes from your creative approach.
In the finance sector, creative is often thought of as ‘fluffy’ or ‘insubstantial’ – this couldn’t be farther from the truth.
It might be something as simple as the way you pick and light your shots, or using cutaways to make that talking head film include something more interesting than… the talking head. Adding something different and memorable is what’s important.
An internal marketing professional can’t have all the answers when planning their video content’s look and feel – this is the job for a professional filmmaker and why the best content usually comes with the input of an agency.
2016 will show us the true potential for traditional videos in the sector, with better production values seen in client and internal communication films on the whole.
Hopefully 2016 is the year we can say RIP to poorly made B2B video.
Good news for everyone!
The results of B2B video marketing are improving year-on-year and it’s a frustration for many in the finance sector that they’re not getting the results they need.
At Spectrecom we offer an audit of your current content, a framework to execute a proper video strategy and expert in-house creative filmmakers to ensure you make the best content that achieves the results you’re after.
Get in touch today, or read my blog on “Writing a good creative brief for financial services films” first.
About the author
Client Services Director
Christiaan is our client services director, who has been in the industry for over 10 years, starting out as a filmmaker. He’s been at Spectrecom since day one so his company and business knowledge is unmatched.