The Growing Importance of Video Marketing: Trends and Best Practices to Implement

In order to stay current with the times and up-to-date on marketing strategies, fintechs must explore video marketing in their social media campaigns. This concept isn’t new, as mainstream social media has existed for over a decade now; however, fintech companies must adapt to certain marketing strategies that are more prevalent than others in this current age. The one that has been at the center of attention post-pandemic has been video marketing.

Video marketing refers to the use of videos to increase engagement and raise brand awareness across various marketing channels and drive leads or sales for a product or service. Video content marketing has become one of the most viable and potent trends in marketing over the past decade. Virtually any fintech can leverage the power of video into the palm of their consumer’s hands through their mobile devices or laptops. However, fintech isn’t the only industry taking advantage of this marketing trend. In 2023, video marketing continues its rise in popularity, with a reported 86% of businesses using it in their marketing plans, and 92% of marketers claim that video is an important part of their marketing strategy as technology becomes cheaper and easier to access through the power of artificial intelligence. This trend is projected to grow even further in the next couple of years. So why is this trend important, and how can a fintech implement it to see growth in their online visibility and reach to their consumers?

1. Customers LOVE Watching Videos
   Consumers, on average, watch 19 hours of online video content per week. Video is a very simple medium to digest and can be entertaining, educational, or both. This form of content serves as a great entry point for consumers to learn more about a particular product or service.
2. Video Content Can Boost Conversion Rates and Leads
   86% of video marketers say that video marketing helped their lead generation, and 81% say it had a positive impact on their sales. These large numbers cannot be ignored. Due to a video’s highly engaging format, viewers are able to access and connect with the message on multiple channels and mediums. Often, fintechs use video marketing to convey their product or service through demos, showing the audience how to use their product in a simple way. A misconception many fintech adopters often have is that fintech products and services are difficult to use and require training or experience. However, with video marketing, all of their worries can be explained away through demonstration. On social media, these types of videos have shown to boost lead generation and sales.
3. Video is Highly Shareable
   Video content marketing can be captivating and engaging, so much so that consumers have the inclination to share this content with their network, family, or friends. This translates to a larger online visibility and reach for a product or service. More potential consumers have access to a company’s brand and offerings, which is the goal of marketing and advertising for any company.
4. Higher Email Open Rate
   Email marketing is still a highly successful form of marketing and a force to be reckoned with in 2023, as it still offers businesses a relatively high conversion rate. In order to improve this metric even further for businesses, adding video content can stimulate online visibility and brand recognition even more. Video marketing is engaging and intriguing. Adding it to a fintech’s email marketing campaign can produce impactful results that captivate an audience from clicking away. Embedding videos into emails is an effective way to boost lead conversions and sales. Fintechs are using video marketing in their emails by welcoming new customers with an intro video to their service or providing them with a demo video on a product that they’ve shown interest in.
5. Better Google Rankings
   Email marketing is still a highly successful form of marketing and a force to be reckoned with in 2023, as it still offers businesses a relatively high conversion rate. In order to improve this metric even further for businesses, adding video content can stimulate online visibility and brand recognition even more. Video marketing is engaging and intriguing. Adding it to a fintech’s email marketing campaign can produce impactful results that captivate an audience from clicking away. Embedding videos into emails is an effective way to boost lead conversions and sales. Fintechs are using video marketing in their emails by welcoming new customers with an intro video to their service or providing them with a demo video on a product that they’ve shown interest in.
6. Video Builds Trust and Credibility
   Through video content marketing, fintechs and businesses are able to connect with their target demographic and potential consumers in a more personal and professional manner. Demo videos and how-to product videos are perfect ways to position one’s fintech as an industry leader and expert. This is the way hundreds of fintech companies are able to build trust with their audience and establish their brand as a leader in the space.