Three billion people watch online video every day, according to vzaar.com. To put that in perspective, that’s nearly half the world’s population watching web video every day. They’re watching television and movies. They’re watching commercials and product demos. They’re even watching homemade videos uploaded to sites like YouTube and Facebook. The question is, are they watching your credit union, and if they’re not, are they watching your competition?
Obviously, web video is growing in popularity. That doesn’t make it the right marketing tool for everyone, but as it continues gaining ground, industries that don’t embrace it could be left behind. The financial services industry is one that needs to jump on the bandwagon. Most credit unions and banks have no videos on their websites. Those who do, use it sparingly.
Video has the power to do something that words on a page can’t always do. Video can trigger emotional responses that control buying decisions. Words by themselves can be powerful, but they can’t duplicate the smile on a member’s face when he or she gets that first auto loan. They can’t imitate the inflection in a person voice when they talk about how the credit union helped them become debt-free. They can’t replace the tears falling down a member’s cheek as he or she tells the heart-wrenching story of how the credit unions saved a home from foreclosure. Online video has the ability to create a connection between your credit union and its target audience. It has the ability to demonstrate that you’re not just in the financial services business. You’re in the people business.
Here’s another compelling reason to consider web video. It improves your search engine rankings. When Google bought YouTube, it added more weight to video clips so YouTube would come up more often and higher in search results. If your website contains videos, or if your credit union posts videos on YouTube with links back your website, your rankings will go up. It may not be why people came to your site, but compelling content will certainly make them want to stay there.
What type of content makes them stay and keeps them coming back? How can credit unions afford to produce videos for their websites? Read the April issue of my E-zine for the answers to these questions, as well as a case study of how one credit union’s web video strategy is improving its bottom line.