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5 Ways Banks and Credit Unions Can Do More With Their Video Budget

Hiring a videographer might be a new concept for many banks and credit unions, especially for those institutions that have a marketing team of one or two people. However, since video is becoming a mainstay in the digital age, having an in-house team makes more sense now than ever before.

Here’s how to make the most of video:

1 - Film and Publicize Every Event

It’s one thing to have an event and another thing entirely to milk it for all it’s worth.

In 2011, Wells Fargo did a flash mob in Times Square that consisted of dozens of people dancing to the beat of drummers banging on trash cans. That might seem like a foolish thing for a marketing team to get involved with, but when you consider that the video of the flash mob has been viewed more than a million times through various outlets, the value becomes clearer. One YouTube commenter said, “I think this was the most epic commercial I’ve ever seen.” Another said it was the “longest YouTube commercial I ever watched — 6 minutes 46 seconds.” What better attention could a marketing team hope to receive?

At MX, we film our events and create professional-grade videos to highlight them — all with just a team of two (a cinematographer and a motion graphics artist).

You can see our work here:

With the right talent, you can make your events stand out from the crowd and build brand appeal in the process. 

2 - Take Advantage of YouTube as a Search Engine

Since YouTube is the second largest search engine (after Google.com), it’s critical to take full advantage of your videos by posting everything to YouTube.

Here are some steps to help you do that:

  1. Input all metadata: Write a compelling title that you think potential account holders might search for, include links and video details in the description, and write your keywords as tags. Don’t leave any area blank.

  2. Create HD videos: YouTube favors high quality over low quality in their rankings.

  3. Make a compelling thumbnail: People register images faster than text when they’re scrolling through videos on YouTube, so be sure your thumbnail grabs the attention of potential viewers. Either find the most compelling screenshot from your video or create your own.

  4. Consider adding closed captions: YouTube will crawl the text in your video when it searches, making it more likely that your video will rank if someone types a keyword.

  5. Share it everywhere: Your video will rank higher the more shares, views, and likes it has. Share videos everywhere you have a presence, and consider places you don’t (such as Reddit). It helps to include something remarkable (visuals, humor, or compelling facts) in every video.

3 - Make Your Products Look Beautiful

Video is one of the best ways to launch a new product because it enables you to show off your product in its resplendent glory. When we at MX launched an Apple Watch version of our data-driven money management product, we created a video that gave it the hype it deserved:

Stratos also released a fabulous video to release their all-in-one card:

By creating a video to celebrate a product release you not only build hype externally but internally as well. It’s a nice way to highlight the hard work of your entire team.

4 - All Video Projects Must Be Led by a Professional Videographer with Quality Equipment

It may be tempting for bank executives to skimp on video technology, thinking that with the state of technology today it’s sufficient to have an average employee with the latest iPhone take charge. However, going halfway with video is a surefire way to throw money down the drain. In fact, going cheap may end up hurting your brand, since consumers may come to associate your brand with low quality.

The main point here is that if you’re going to commit to video, you’ve got to really commit. You don’t need an enormous team, but you do need to hire professional talent and make sure they have access to at least a few pieces of quality equipment.

5 - Keep in Mind That Good Videos Take Time and Ongoing Education

To make something look great, it can take more time than many people outside the industry might think. There’s editing, color correction, animation, graphics, etc. It all adds up. To create good videos you must therefore take one step at a time and plan for each step before starting any project. Otherwise, video projects might start to feel overwhelming. Better to level expectations from the outset.

You also must continue to keep up with changing video standards, especially if you want to stay ahead of those standards. Here are some venues and communities you can join to keep current:

Learn More

To get more tips on bank marketing, including these tips on design, download The Ultimate Guide to Bank Marketing. It's a free, 39-page overview of what financial institutions can do to step up their marketing game and outsmart the competition.

You can download it here.