5 Simple Reasons Why Financial Institutions Create Explainer Videos

Finance, it’s the most robust and complex field that exists, we’re not kidding, the person writing this had to drop out from a finance major and ended up a writer, it’s that hard. So like always, we make points don’t we, with something such complex and dry, what makes it easy and understandable? YES, explainer videos, or better yet, finance explainer videos. But, as our topic suggests, we are talking about a more business-centric approach here, Explainer Videos are used extensively in different industries but its true potential is still untapped in the finance industry or banks. Here is why your financial institution needs to start investing in Finance Explainer Videos:

 

1 – Introduce New Banking Products and Financial Policies

 

Banks can now easily explain a new technological product or service that they have launched through a finance explainer video. A short video explaining the process is easier to follow than to seek guidelines from a service operator or a bank employee. Imagine the opportunity that you can create by attaching a video and a backlink of your Youtube channel. Your customer can easily watch the video explaining the financial product. It can save the whole explaining process and the hassles associated with it. It can even save a customer’s trip to the bank or even the lengthy phone calls. Furthermore, a Finance explainer video can even narrow down your sales funnel to only strict to business clients who want to invest in your new product offering. Here’s a video by ANZ Australia Bank, look how they introduced internet banking

 

On the other hand, Big 4 member KPMG also involves itself in making explainer videos to elaborate certain ideas and strategies related to new policies in the making, here’s an example.

 

2 – Market your Finance Policies better

 

Finance Explainer Videos can help you engage with your audience. The number of TV viewership has decreased over time and so has the return on advertising on TV channels. Using a small fraction of your advertising budget to maintain your firm’s YouTube channel with finance explainer videos and all other advertisements can help you reach your marketing goals more easily. We have jotted down some of the ways in which Finance Explaining videos can work as your marketing knight in the business battlefield:

 

1. Your clients can access it at all times instead wait for the advertisement on TV.
2. The content is shareable to others which make it easier for your bank to reach potential clients.
3. Finance Explainer Videos are cheaper to make and cheaper to market.
4. Using explainer videos can improve customer decision making as they are easy to understand.
5. Tailoring finance explainer videos in multiple language voice overs can help target other ethnicities. This can ensure a stronger and bigger consumer base. The process is also easier than using multiple voice-overs for TV advertisements.

 

Big 4’s have been using it too, recently PwC has created a video for their new taxation strategy focusing on finance policies for the future, take a look here 

 

 

3 – Decrease Customer Dissonance

 

Imagine being an employee of a finance consultancy faced with a fuming customer. Haven’t we all been there? What if you can skip all the chaos and confusion and definitely those glares and stares. Using finance explainer videos can help your client understand many financial processes. For instance, a finance explainer video demonstrating how to make an online transfer can be much easier to follow for a customer than an explanation over a phone call. This just means that employees will not have to deal with strictness to business customers, probably have to deal with shorter waiting lines and most importantly deal with less heat heated customers every day. Finance Explainer Video can definitely ensure a not so impossible win-win deal for customers. Customer satisfaction is a must nowadays and since their money is attached to such firms, taking them into confidence in easy words is very important, PwC made a video about workday risks, check it out

 

 

4 – Finance Fundamentals

 

Finance is complex and not everyone’s cup of tea, we hardly understand what to do with our finances and profits, so for us dumb people, they can have videos to educate and inform clients and customers. Finance explainer videos are great to explain where to invest, monthly profit, yearly profit, depreciation, audits etc. Not to mention the accounting policies and taxing which we ignore and avoid understanding. Financial institutions are not bound to share fundamentals but they are doing their CSR (corporate social responsibility) of informing their clients and customers but people fail to realize. The big fours of finance have a strict conduct that follows to 1^st educate the client before selling them a policy, or else a lot of companies have been sued for false claims.

5-Enhance Goodwill

 

We mentioned big fours above right, now how do these firms establish themselves on the top? What makes them so popular and important in the world? , it’s because they have made a name for themselves during their time. In this modern era of digital exposure, firms are now investing heavily in their reputation worldwide, and for that finance explainer videos can cement their name among the front runners of the industry and the customers as well. Big 4’s has a history of making credible