By: Stu Siegal
Executive Producer/Creative Director, VLCreative
PAICR Gold Sponsor – Videolink
It’s safe to assume that we’ve all seen, liked, and shared a funny ad or an online tearjerker video produced by a brand. At first glance, the popularity and success of emotion-driven videos may not seem like a natural fit for financial services videos. Within the industry, there’s a frequent perception that financial services videos should focus on performance, numbers, or value. And while these are often components of finserv videos, recognize that there’s always a core emotional component just beneath the surface that can make the difference between a good video and a great one.
Trust within the Financial Services industry is at an all-time low; the industry generally ranks just below oil companies in terms of trustworthiness and favorability. Trust and confidence are powerful emotions, as are empathy and passion. Video is a medium ideally suited to communicate nonverbal concepts. Consumers want to watch videos that they can emotionally connect to, and opportunities abound for brands that use video to drive trust and confidence.
This concept extends beyond B2C video to Thought Leadership, a staple of B2B finserv video. During a recent PAICR webinar I hosted with Gail Graham, who until recently was with United Capital, Gail noted that for execs on camera, “It’s really important to relax and be human. (At United Capital) we have a saying, we’re not B2C, we’re not B2B, we are human to human. So, the relaxation, the communication, the eye contact, and the smiling; really matters when you are dealing with your customers” … “Produce short, animated, 30 to 60-second videos that tell people what you should expect or what you’ll get by working with your firm. Those are just two areas that we are looking to push, and again give people that sense of understanding beyond the formality, the formal exterior that they see so much.”
Customers are tired of seeing the ‘engine room’, as Gail calls it, and expect a higher level of intimacy than in years past. Columbia Threadneedle Investments, the asset management division of Ameriprise, is taking the same approach. Andrew Most, VP of Creative and Content Strategy at Columbia Threadneedle noted “We are presenting a level of intimacy in the format of thought leadership, so our customers understand the people and the thinking behind these products are real power-houses in the industry. We want to make sure they have that same level of confidence in their advisor who is selling our product”.
Confidence and trust are powerful emotions that play key roles in a customer’s overall perception of your brand. Financial Service brands who are committed to content that connects on an emotional level are winning back their customers’ trust and succeeding in the industry. On your next project, think about how going deeper than a story about performance, philosophy, or experience, by directly addressing the emotions beneath these topics, might drive a greater return on your videos.