Have you ever visited a banking website and got lost in the plethora of information available and did not know where to land for a particular service?
Banks offer numerous services and hence deal with large user data and information.
However, with an increasing number of clients moving away from brands, banks are under pressure to provide personalized services if personalized services are not provided.
Hence, the account manager or relationship managers are introduced to a set of accounts in the early 2000s. But, in the digital era, clients don't appreciate being called or spammed with random marketing communication shot at them without a purpose.
The personalization game has taken a different angle altogether, and imagine if you could provide your banking customers with a video explicitly tailored to their individual needs!
Here are some video personalization ideas for banking to get you started if you're in the banking industry.
Why Should Banking Industry Use Personalized Video?
Banks are traditionally known to be the ones with the largest customer base. Almost everyone in this modern world has a bank account, and banks are under tremendous pressure to upsell, cross-sell. and improve customer service.
That's where personalized marketing and personalized videos come into the picture.
- Personalized videos can be used for multiple purposes to achieve customer satisfaction and to improve sales for financial products and services.
- You can share videos to send reminders of product announcements and send highly targeted brand messages to prospects.
- Onboarding new customers gets easier with personalized video. The sales executives and account executives need not wreck their brains anymore trying to convince your customers and prospects that your bank is the best one to bank with.
- You can also use a personalized video to send invites to customers on bank events and share important updates and newsletters.
Use Personalized Videos in These Scenarios to Make the Highest Impact
Personalized videos are videos that you make for your customers. They're tailored to their needs and interests, so they feel more like a conversation than just another sales pitch!
The best part is personalized video can be as simple or complex as needed - all we need now are some ideas of what might interest them most right away.
So, here are some scenarios where you can use a personalized video instead of a boring text or email communication.
Who wouldn't like a humanized appeal that creates an emotional connection between your bank/company and your customers!
1. Information About Different Financial Products & Services
We all know how difficult it can be to find the correct information when you're looking for financial products and services. But this is where personalized videos come in!
Share a short video explaining various products available. You can make multiple videos and use them according to the target customer based on a targeted product/service.
Here is an example:
For example, make a video explaining the average quarterly balance that needs to be maintained in your bank's savings account and other details on opening a savings account and share it with your client list. You are sure to get a meeting back.
Likewise, create different videos for different products and services with dynamic video personalization.
2. Onboarding Message
Personalized onboarding messages are just one way to make sure customers feel important and valued, thereby building trust!
Building trust is of utmost importance for financial products and services or a banking institute. Welcome every new client with open arms and show them around with your short and sweet personalized welcome video.
Avoid virtual assistants who can't help beyond a point, and instead, make a personalized video with different FAQs and share it with your clients or prospects.
It makes the whole experience more memorable, humanizes the content, and establishes a deeper bond between you and your customers.
For example, you can add elements like below in your video:
4. Account Statements/Financial Statements
Send an account statement or a financial statement with a personalized email. Then, all you have to do is create a video and add the personal details, and Videoform will take care of the rest, creating a personalized video for every individual in your list of customers.
Here is an example of video financial statement you can create with our dynamic video personalization:
5. Products Available For Cross-Selling/Upselling
Every bank has numerous products, and they earn revenue by cross-selling and upselling their financial products and services.
No customer deals with just one development from a bank and walks away. So, make use of this and make a video explaining all the products and services you think your customer would show interest in.
For example, you can share loan details to a customer who opened a savings bank account with you who's likely looking to buy a house.
6. For Inactive Customers/ Closed Accounts
Reach out to those inactive customers who haven't made any transactions for over months.
That most likely means that they are no longer interested in transacting with the bank and probably also close the account.
Make a video to check in on them and ask if they have an issue that you can help with. One personalized video can go a long way and get you a loyal customer base.
More interesting is that you don't even have to make a video for every customer. Instead, make a base video and share your customers' details, and Videoform will take care of the rest.
Share investment advice in a video message to every customer. You can make a video and advise on how much to invest today for a better future and share advice on pension plans, wealth services, stock advice, and other investment advice that has the potential to get great returns for your clients.
8. Bank Rates
Bank interest rates and loan rates fluctuate and differ from one bank to another. Customers want to be informed about the bank rates, and sharing that information via a personalized video makes your customers appreciate your efforts.
The banking industry is a competitive and dynamic space. If you want to increase your market share, it's time to get creative with video content marketing.
We've given you some great tips and critical takeaways for creating personalized videos that will resonate with your audience and drive more sales.
Take these ideas as inspiration for using video personalization to power up the banking business. Then, talk to us to create personalized videos for your industry.