Best Visual Marketing For Fintech Companies
Visual marketing – one of fintech marketing trends – has become a new marketing method that helps fintech companies introduce products/services to customers in a quick, easy, fun, and useful way. Why? Despite having financial or payment problems, customers are not ready for something new like fintech. This means people have too many choices but too little information to make a decision, especially these products relate to their financial security. Also, customers want to hunt for a quick solution. They don’t have time to spend hours to find and understand many fintech offers. So, to many fintech companies and startups, visual marketing is the key.
In this article, we will figure out:
- Definition of visual marketing for fintech
- Why visual marketing for fintech is important
- 4 best visual marketings applied for fintech companies and startups
What is visual marketing for fintech?
What is visual marketing?
According to Study.com, Visual marketing is a marketing method that connects marketing messages and visuals (images, videos, infographics, signs, etc.). Compared to text, visual marketing transfers messages to customers in a more vivid and memorable way.
What is visual marketing in the fintech context?
Visual marketing for fintech is a marketing method that applies visual in fintech products/services. Fintech is born in the era of digital platforms and new generation customers. It’s predicted to change the way people use financial services. From a marketing perspective, fintech companies need to find a new marketing method to brand themselves and introduce their products differently from the usual traditional financial services. A method that is smart, interesting and fits the technology concept. Visual marketing, among fintech marketing trends, is the right choice.
Why Visual marketing is one of fintech marketing trends
Visual marketing meets the huge demand of fintech companies and helps them beat the competition
The development of fintech startups and companies creates a huge demand for visual marketing for this field. According to CB Insights, Fintech startups received $17.4 billion in funding in 2016. The same firm reported that there were 39 VC-backed fintech unicorns worth $147.37 billion by the end of 2018.
In terms of customers, according to EY’s 2017 Fintech Adoption Index, one-third of consumers utilize at least two or more fintech services. They are also increasingly aware of fintech as a part of their daily lives.
The blooming of both sides – fintech companies and users, turn visual marketing to be a key that makes fintech products/services outstanding.
Fintech has become one of the trendiest industries in recent years.
Visual marketing and fintech is a perfect match
Visual marketing not only simplifies the complex concept of fintech but also makes your brand more believable, easy, and welcome to customers.
Fintech is an abstract and a new concept. Customers may find it unfamiliar even if they have heard of it. The text is not enough. Customers need something understandable which helps them visualize how fintech products/services work and how their money goes through the fintech process.
Moreover, fintech relates to customers’ finance and budget. They become more careful in choosing a brand. They might turn away from a brand whose processes require a lot of effort to understand; or a brand that makes them feel unprofessional.
That’s why visual marketing is essential. It’s understandable, quick, and outstanding.
Find out more about the power of visual marketing:
Visual marketing attracts Generation Z – the future main customers of fintech
Generation Z, who sticks with technology, will be the main customers in the next few years. They will be the first customers who understand and adapt to fintech. Fintech companies need a youth-friendly marketing method like visual marketing to attract them.
Visual marketing allows us to integrate everything and transfer many purposes simultaneously, for example, entertaining and educative at once. This dual benefit of visual marketing fits with the youth’s taste.
Visual marketing optimizes cost for fintech companies
Visual marketing has dual benefits. It can do branding and customer education at the same time so that the company can save the content cost. According to DWS, 51.9% of marketing professionals worldwide name video as the type of content with the best ROI. Imgur said people are 85% more likely to buy a product after viewing a product video. Hubspot shows that a video on a landing page can raise conversion rates by 80%.
This marketing method can be optimized in both offline and online platforms. Also, it can be shared and saved on social media. This means, instead of doing many content to attract customers, you need only one video to increase conversion rate and ROI.
Don’t miss out the best strategies to advance visual marketing:
Best visual marketing for fintech companies
Traditional introduction video
A traditional introduction video can show the product/service and the professional face of companies at the same time. Fintech companies have a large space to talk about themselves, from products/services to the vision, core value, slogan, etc. The most common content of this type includes the background of a fintech company and the MC.
Since this type of video contains a lot of information, it’s generally more than 3 minutes long. Moreover, the content focuses mainly on the company itself so this video is professional and serious. That’s the reason why it fits best for B2B fintech. In terms of B2C, the uncontrollable development of digital ads makes people distrust ads and brands who talk too much about themselves. Thus, the traditional introduction video is not a good choice for B2C fintech.
Take a look at the example video from Exos. Through the office tour, we can see how professional Exos is and how its services work. This video is supported by some animation elements to make it more interesting.
Animated explainer video
Fintech explainer video is a short video that uses animation to describe fintech products/services and how to use them. Explainer videos are very popular in the Fintech industry. It’s a great tool for fintech companies to bring services/products closer to customers.
The animated explainer video is a trend
If you Google “Fintech explainer video”, the results are all about animation. Clearly, the animation is a trend in fintech explainer videos. In fact, animated explainer video proves its effectiveness through many real projects. This type of video is used by many fintech startups and companies like PayPal, IBM, Bloomberg…
Free Checklist: How to tell good animated learning videos?
Quick guide to help you identify and evaluate quality of educational animated videos.
How animation empowers fintech explainer video
With the support of animation, explainer videos can simplify the abstract and unfamiliar concept of fintech by using motion graphics and fun characters. Customers can find the solution for their problems in just 90 seconds or less. The advantage of animation makes explainer videos become more fun to watch. The animated explainer video engages viewers until the end.
Moreover, animations are flexible for all ages, and also, for diversified purposes. Thus, fintech explainers can be applied for B2B and B2C fintech.
In terms of marketing, fintech explainer video is startups’ favorite choice, due to its cost optimization and multi-benefit. It also introduces and brands your products/services at the same time, without annoying the customer.
The above fintech explainer video describes a payment app for B2B partners. It contains simple animation elements plus text and music to describe the product.
Meanwhile, this B2C fintech explainer video from Kalgera not only describes the product but also defines customers’ problems and their improved future image after using. This company also adds its name and CTA (download, sign up, etc.) at the last second for branding purposes.
Through 2 examples, we can see how flexible the animated explainer video for fintech adapts to both B2B and B2C.
Learn more about animation production here:
Testimonial video collects customer feedback to build trust and credit for new ones. This type of video lets customers objectively talk about their trusted brand. Testimonial not only avoids traditional introduction video’s weakness but also easy to make. It’s a cost-effective option.
However, testimonial video may be boring if not done properly. It’s difficult to do as a short-timed video. Moreover, testimonial videos can’t introduce products/services or educate users on how to use them. In fact, there is another cheaper replaceable method for this video, such as converting customers’ feedback into website text form.
But in terms of building trust, the testimonial video is the best option, for both B2B and B2C fintech.
Here is the testimonial video from Databricks – the interview with its customer – Showtime. As we can see, this video used only one shooting angle. It’s effortless, the company doesn’t even need a production house to create it. The useful information from the customer proves that Databricks understood and solved his pain points. This means that this video can convince more customers who have advanced requirements. But at the same time, it’s not an outstanding video, compared to other types.
If your product/service is part of a mass communication and branding campaign, a live-action video is a great choice. Live-action video not only educates people about something but also maximizes social sharing for branding purposes. Unlike traditional introduction videos that simply introduce the company, the live-action video brings out the story in the product/service. A live-action video not only shows the product but also other values, such as lifestyle, experience, brand position, etc. Thus, it fits for B2C fintech.
In terms of process, you give your products/services a face, a story, and a message. Then, make your video go viral. Your live-action video should be 30 seconds long for it to be a TVC commercial. Sounds easy, but it isn’t. Live-action video is popular, this means the competitive level is high. You need to invest time and effort to create good content that touches the customer’s heart while also beating competition as well. This video’s success depends on many things that you can’t control: the acting skill, the background, the video-making techniques, etc.
This video describes how a girl’s fabulous life when using a banking app. The content is short and friendly. It shows both product tutorials and modern shopping lifestyles. However, the budget is high.
How to choose the right one?
To choose your best visual marketing for fintech, here are the checklist you should answer:
- What is your purpose? (branding, build trust, introduction, tutorial, or all?)
- How do you promote your video? (on a digital platform, on TV or offline?)
- What do you expect from your video? (conversion rate, knowledge retention, etc.?)
- How is your budget to outsource your video?
Here is the table of comparison, and hope it helps you to make a decision easily:
|Traditional introduction video||Testimonial video||Animated explainer video||Live-action|
|B2B Fintech/ B2C Fintech||B2B||B2B/B2C||B2B/B2C||B2C|
|Main content||mainly branding||feedback||branding, product/service description, and tutorial||branding, product/service description, and tutorial|
|Length||around 3 mins||1 – 2 mins||60 – 90 seconds||around 30 seconds|
|Technique requirement||medium to high||medium||medium to high||medium to high|
|Mood||professional, serious||friendly, serious||diversity from serious to friendly, funny||diversity from serious to friendly, funny|
|Outstanding point||show the visual, core value of the company||build trust||educate users about product/service; branding without annoying viewers||viral|
Visual marketing itself contains many factors for you to produce the best fintech marketing strategy. Once you define your target audience, your purpose, and a solid content strategy, all you need is to set a promotion and wait for your video works. If you want to hit dual benefit, fun, and youth-friendly marketing method, then an animated explainer video is a must. F.Learning Studio produces animation for finance and accounting, which is aimed at education for and will meet the target audience. We offer free consulting for up to 30 minutes. Contact us for visual marketing solution for fintech
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