At some stage in their life, all consumers will need to turn to financial services for help. Whether that’s an insurance company, accountant, wealth management service, or private equity firm. Thanks to increased competition, the customers now have the upper hand too. Financial services don’t need the best technology, what they need but are sorely lacking is the creativity that will allow them to meet the needs and expectations of their customers.
Consumers today are incessantly bombarded with information and their attention is always being fought over by anything and everything. We live in a world where attention is the most valuable commodity and if your business isn’t capturing your audience’s attention, pretty soon you won’t have a business. Information overload makes it difficult for consumers to grasp the concept of the new products and services quickly or service that you are offering. Consequently, it can result in poor reception and lower engagement.
This is where animation steps in. To clarify, animations don’t have to look like they’re aimed at six-year old’s, they can be slick, professional, and still keep that corporate feel whilst not feeling like you’re watching paint dry.
We can turn miles of text, data, and reports into something more visually engaging, fun, and simple. Complex internal procedures can come to life in an attention-grabbing video, new services can be demonstrated in a 30 second promo or your end of year celebration can paint a wonderful story in an animated event video. The list goes on!
So, without a further due, here are 5 ways that financial services can use animation.
Your audience needs something more comprehensive and simple that highlights the important information in an easy to understand and personalised way. What better way to do it than an animated report? What better way to show yearly changes or growth than watching those changes come to life before you?
Collating comprehensive data, reports, or announcements into a short animation for your audience will not only show that you offer a more personalised service, it demonstrates that you understand the needs of your customers as the world develops. This improvement in customer experience will not only increase customer retention but will encourage new customers to join.
Animated data and reports can also be used for your board meetings and for presentations. It will make your topic more memorable, interesting, and to the point.
As important as it is to retain your customers, retaining your talented employees is also a vital part of business practice. Especially for financial services, a heavily regulated industry where policy change and legislation are constantly updated. Over time new technology replaces the old ways of doing things and it grows more and more important to help your employees adapt quickly and to empower them to feel competent in carrying out their tasks. By ensuring your staff developments are a priority and by putting a clear plan and opportunity for growth in place you will help them be more amenable to the ongoing change.
This is where internal training animated video can help! The benefits of having this type of animated video include;
-Consistency in the delivery of the training materials.
-Cost-effective - as the video is reusable and often does not require a member of staff to present the material.
- Amendable - A new policy or tweak to an existing one? Not a problem, just tweak the original video and have it updated in a few hours' work.
- Individuals can rewatch it at any time, encouraging independent learning.
- It is a lot easier for the learner to take notes as there are visual aids and subtitles.
-Higher retention rates - (A study by Insivia found that viewers retain 95% of a message when they watch it in a video compared to 10% when reading text. Video is a multi-sensory way of learning which increases the retention rate of the viewer!)
The benefits of having training videos are endless!!
Adhering to what we have already highlighted, an animated video can also be creatively used to educate your customers. Financial services can employ 2D and 3D animated videos to describe specific financial terms and jargon. This would be a great asset when onboarding a new customer. It could be included in the onboarding package where the customer receives the video via email which they can access to revisit and watch the information as many times as they like. This extra approach will not only make you stand out from your competitors but will also improve your customer experience and make the interaction for the customer with a bank or any other financial institution more exciting.
Higher education > Better knowledge of platform > Better knowledge of product leads to more usage > More usage means more sales.
Having these videos can help the customer acclimatise to an unfamiliar interface and ensure that they understand the essence of the service or product and be able to use it to its full capabilities. This type of educational videos not only will improve customer experience but also reduce customer service calls, allowing you to focus on other important business matters.
What kind of financial companies can use animated videos in their marketing, you ask… The answer is ALL OF THEM! From traditional banks to insurance companies or investment firms to fintech startups.
Animated explainer videos are a highly versatile tool that is designed to engage, entertain and educate your audience in a way that is unique to your brand. It articulates what it is that your business, product or service does in a clear and compact way.
It also does an excellent job at highlighting your brand by using your colours, fonts, and music to engage the audience whilst highlighting what problems you are able to solve. This is crucial in an industry rife with so many businesses who look identical to the business next to them.
Ask yourself...what is your USP?
Answered it, great!
Now ask yourself, how many of your competitors probably say the exact same thing...
Incorporating explainer videos as a marketing tool can help your audience understand why they should use your products or services within one minute. Its versatility allows you to use it on your website landing page, social media, email marketing, and more.
Great company culture sets the foundations of your business.
Today, company culture alone can make or break a business whether you are a small or large company. Hence, cultivating a great company culture to improve employee engagement as well as their happiness and retention is vital.
What better way to celebrate and show appreciation, than encompassing the business's success in a celebration video, a milestone the company can always reflect back on at the end of the year parties!
Highlighting and congratulating your team or employee’s success, not only will motivate them but improve their fulfillment in their role leading to a more productive and inspiring working environment.
When a business cares about explaining its products and services in a simple and clear way, customers will trust you more and be loyal because they have a better understanding of what they are investing their time and money in. If animation is used wisely and uniquely it can have a powerful social influence and engagement. Integrating animation into your business in various ways that we’ve mentioned above can empower financial services to connect with customers, grow their trust, and build a strong reputation.
Are you in need of a trusted animation studio to help you create a compelling financial services explainer video? Do get in touch with us! We are always happy to help and answer any of your questions.
At Motion Manor we are passionate about creating seriously persuasive animation, helping your audience understand why they should buy from you.
We believe in leaving the world a better place than we found it. We will create a positive social impact, by creating animated content that focuses on the messages that matter.
