Video marketing is here, and it is here to stay. Video has become an integral part of online marketing that your credit union CANNOT afford to ignore. It is the most effective tool for sharing information and entertaining content with your members. According to Cisco, by 2020 video will make up 79% of all internet traffic.
With Facebook Live, Facebook Stories, Instagram Stories, and all the video we see popping up in our social media news feed each time we log in, it is clear that video is being used not only by consumers but also by businesses. However, throughout our content creation services at CU 2.0, we still find that many credit unions are not utilizing videos and that executives are hesitant to start. Many credit union executives share the same concerns about getting set up to successfully start video marketing.
- What is the monetary investment necessary for my marketing team to start using video?
- Even if we have the money in our marketing budget, where do we even start?
- Do I need to hire more staff or do I need to outsource?
- Do my members really care about video? I thought it was just for celebrities, social influencers, or for sharing cute videos of my dog.
So, the question becomes, do the benefits of developing, executing, and sharing a video marketing campaign outweigh the amount of effort needed to successfully do so.
The answer is YES. 100%, without a doubt.
Here are 3 reasons your credit union marketing team should be using video marketing.
1) Members love watching videos
Why does it seem that videos are popping up all over social media and in our email inboxes? It’s because people love watching videos. Our members prefer watching videos over reading long strings of text because videos have the ability to convey a ton of information in a quick and easy to understand way. Video also allows your members to connect with your credit union and receive the personal touch that they would not get with a text article. Youtube has over 4 billion video views per day and is currently the second largest search engine, after Google. In 2015, online videos accounted for 55% of all mobile traffic and are forecasted to rise to 79% by 2020. Video content online is only going to continue to grow.
2) Search engines are all about video
Video is imperative if you are paying attention to SEO (Search Engine Optimization). Your credit union is 53 times more likely to show up on the first page of a google search if you have a video embedded on your website. Since Google acquired YouTube, marketers have seen a significant increase in how videos affect your company’s search engine rank. Simply put, your credit union cannot afford not to have video on your website. You aren’t considered relevant by search engines if you don’t have video on your page. Click here to learn more about SEO.
3) Video helps to build a member’s trust
Having video on your website, social media channels, and marketing emails helps to put a face and personality behind your credit union’s brand. Video is a terrific way to build trust with your membership and connect with members when they aren’t in a branch. A terrific example of this is when a member first joins your credit union. Instead of sending a lengthy welcome email full of text, send a video welcoming the member along with a couple of helpful tips, links, and information that a new member would need.
Video can also be used in marketing campaigns to quickly and effectively grab a member’s attention and inform them about products and offers available to them. An email with a video embedded is likely to increase email click-through rates and improve email engagement. Video tracking also allows you to see which members opened the videos, who watched it all the way through, and who replayed it. Having this information will allow your marketing team to build out lead nurturing campaigns and thus build a more effective sales pipeline. Your marketing team will also have a better idea of what content your membership finds relevant, and this will help you build more successful campaigns.
Credit Union 2.0 began as an innovative digital strategy playbook, Credit Union 2.0, written by Kirk Drake and has evolved into a full service digital credit union consultancy that specializes in developing meaningful digital brands. We don’t just come up with what’s cool. We give credit unions the tools, playbook, and strategies they need to make a real impact and engage their members.