Working in financial services? Interactive video can tell you more about your audience

Aug 17, 2022

If you work in the financial services industry, then you know how valuable data can be. However, when it comes to your content creation, the data you’re gathering might not tell you the full story. Interactive video can reveal more about your audience than ever before.

Transaction data is crucial to any financial service institution’s operations. This data helps them understand your customers, allowing them to tailor the services they provide in order to meet your needs and wants. But what if there was a way to understand customers’ needs without transactional data?

Interactive video gives you the power to learn more about your customers through advanced analytics, allowing for tailored and more targeted marketing campaigns, FAQs and even customer discussions to match. If you've ever wondered what offerings your customers were truly interested in, or what questions they had about your services, then you will find Vudoo’s intuitive analytics platform essential for deeper data insights.

While traditional video analytics track metrics like views, likes and shares, interactive video provides a more comprehensive understanding of your audience’s behavior. Read on to learn more about how financial service institutions can use interactive video to convey information and turn interest into tangible outcomes.

Highlighting the expert touch

How can financial service institutions, such as insurance, accounting and banks, share expertise with a target audience? While many may come in contact with an institution’s financial experts in person, it can also be beneficial to create video content that talks to these experts. Sound financial advice can be difficult to find if consumers don’t know where to look, pushing out video content via organic and paid marketing campaigns can pay dividends.

Using video content to connect people with financial experts is a way for financial institutions to adapt. People are increasingly looking to social media and search engines to find information, rather than visiting a business to meet face-to-face. By providing information in video format, people can learn at their own pace from the comfort of their homes (or when they’re on the move!). It’s a way of reaching new audiences - ones that might be interested in your services, but aren’t necessarily situated near an office branch.

Breaking down complex subjects

Video content can be used to break down complex topics into manageable chunks of information - which can help educate your target audience. The world of finance can be an overwhelming subject for many to understand, but building a relationship with your audience through informative video content can help turn interested prospects into advocates.

Interactive video elevates traditional video marketing by providing users the opportunity to go on personalized journeys that are unique to their interests. Research conducted by ContentFX in 2020 demonstrated that 77% of people find that interactive video helps them find relevant product information. For example, you can provide information on a range of topics within a single video, users then have the opportunity to select the topics that are most relevant to them, rather than having to sit through the whole video. This gives your business insight into the topics your audiences are most confused about, and future content can be tweaked to address these questions in a more comprehensive manner.

Generate leads without the hassle

Much like any business, generating leads for your financial services company is easier said than done. However, through the power of interactive video, interest can be turned into tangible outcomes. Interactive video allows you to include overlays (pop-up forms) that collect the information of users, so your team can reach out. Don’t rely solely on cold calling and outreach campaigns - supplement your marketing and sales efforts by creating compelling interactive video content that adds value to your prospects’ lives.

Want to get the most from your customer data? Discovering new streams of revenue hidden within your database can also help your business prosper. Interactive video can help you increase engagement and retention. Discover new opportunities to drive revenue from existing customers while learning more about who your customers really are. Interactive video can allow you to promote a range of services/products within the one piece of content, and Vudoo’s analytics track every interaction within the video. Knowing what your users are clicking on most can reveal what services you should be pushing to both new and existing customers going forward.

Making the most of interactive video’s analytics

Wondering whether your customers truly understand the effects of an interest rate hike, or whether a fixed or variable home loan is best for them? Interactive video gives you the answers to these questions without the need for costly and exhaustive surveys. For example, creating a branching video centered around relevant home loan questions can show you what options people are clicking on most, giving you insight into which topics they’re most curious about, and what they need help with when trying to make important financial decisions.

The ATO used interactive video to make lodging a tax return for the first time simple, with step by step options depending on where you're at with the process.

The Australian Taxation Office used interactive video to share important information during tax time, with a particular focus on connecting with those who were lodging a tax return for the first time. Rather than creating a myriad of videos, they utilized the power of Vudoo’s branching technology to take their users on unique journeys. Users were presented with a range of resources and were able to choose the topics they wished to learn more about.

The topic of finance can be an overwhelming one for many people, but it doesn’t have to be. Empower your audience through interactive video and provide information in a way that will hold their attention. Interested in learning more? Time to start creating engaging and informative interactive video content today and reap the rewards tomorrow.