Saturday, 21 April 2018

Information and commentary for the small business banking industry

When it comes to content, video is king

06 Mar

Hubspot recently conducted a survey that included consumer preferences in the USA, Germany and Latin America. What was immediately clear was that the most popular form of content is video – and that’s taking into account all the annoying videos that autoplay as soon as you land on a website.

The reason for this is obvious: videos are the most engaging and useful storytelling medium. Just look at how many YouTube videos are watched every minute.

Sometimes banks are a bit slower to integrate video into their content marketing strategy. It’s understandable; after all, how do you produce a video around cash flow forecasts or the latest loan package?

The answer is to ask yourself: if you were a small business owner, how would you prefer to have content presented, especially if it’s a guide on how to use small business resources?

Video doesn’t have to be high on production values, costing a small fortune to produce. There are many places online that specialise in producing 90 second videos that are very cost-effective and help get the message across just as well as the expensive version. The idea is to present your content visually, which the Hubspot research has shown to be the most popular and effective.

Say you have a new financial package for small business owners. As well as the press release, you could include a video with key small business advisors talking about how the package has been designed specifically with small business owners in mind, because you’re the bank that understands small business.
Or you may have a new tool, like a cash flow forecast, or a loan repayment calculator. These kinds of videos can be animated, not requiring any “cast” – just a quick how-to.

What to expect from video

So what are some of the predictions we can expect from video? Well, they include:

  • Increased video marketing spending by B2B businesses.
  • 80% of consumer Internet traffic being video within the next few years.
  • Growing mobile video budgets – suggesting higher engagement and more direct interaction.

What are the benefits?

  • More engagement – and longer viewing times from potential customers.
  • Awareness – greater product and brand understanding
  • Audience behavior – tracking and understanding it.
  • Traffic – more web traffic and better conversion rates.

Small business banking needs to embrace this trend of enhancing their video libraries, to reach out to new customers and grab their attention. Advertising budgets should be drifting away from television and towards digital platforms.

Here at TSBC, we can help you build and improve video content. Contact us to find out more.

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