Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Driving Fintech Growth: The Role of Video in Communicating Your Value Proposition
Veed | Jun 20, 2023
Image: Unsplash/William Bayreuther
Video editing has become a crucial tool for small businesses and financial technology companies looking to enhance their marketing outreach and impact.
Incorporating videos into your marketing strategy can significantly enhance your small business’s visibility and engagement.
- According to a report by Wyzowl, 86% of businesses used video as a marketing tool in 2021.
- 93% of these businesses reported acquiring a new customer due to a video on social media.
- In fact, studies show that 74% of users who watched an explainer video about a product subsequently bought it.
- Moreover, Google reports that 6 out of 10 people would rather watch online videos than television, making it an optimal platform for businesses to reach potential customers.
Videos can significantly enhance a fintech's value proposition in several ways:
- Simplifying Complex Concepts: Fintech deals with intricate topics like banking, investments, and insurance that can be difficult to grasp for the average customer. Videos can distill these complex concepts into digestible content, using animations, graphics, and straightforward language. This helps customers understand how your service works and the value it provides.
- Building Trust: Trust is paramount in the financial industry. Videos can humanize your brand and provide a sense of transparency by showcasing real team members, customer testimonials, or explaining your security measures. This can help build trust and credibility with your audience.
- Demonstrating Ease of Use: Fintech often involves simplifying traditional financial processes through technology. Through product demos or tutorials, videos can show customers how easy it is to use your platform or app. This helps communicate the practical benefits and value of your fintech solution.
- Engaging Storytelling: Videos allow you to tell a compelling story about your brand. You can share the problems you're trying to solve, the inspiration behind your company, and your vision for the future. A strong narrative can help you connect emotionally with your audience and reinforce your unique value proposition.
- Highlighting Unique Features: With videos, you can showcase the unique features of your product or service that set you apart from the competition. For instance, if your fintech app offers a unique tool for budgeting or investing, a video can effectively highlight these features.
- Increasing Visibility: Videos are highly shareable and can be spread across social media, your website, email newsletters, and more. They can increase your brand visibility and reach, driving more potential customers to your fintech product.
- Customer Support: Instructional videos can also serve as a valuable customer support tool, helping users navigate your platform and resolve common issues independently. This not only enhances the user experience but can also reduce the burden on your customer support team.
Veed, a popular UK-based online video maker service
- Known for its easy-to-use interface and flexible templates, Veed offers users access to millions of stock media files and a good number of features even on the free account. Users are given a range of subscription options, with more powerful tools accessible at higher tiers.
- Even with the free tier, users can benefit from a built-in screen recorder, live streaming privileges, tools such as GIF compressor or mp4 file size reducer and a decent selection of templates, though videos are watermarked and have limitations on resolution and project length.
- Higher subscription tiers provide additional features like clean audio, text-to-speech tools, watermark-free videos, and the ability to create videos up to 25 minutes long in full HD.
- Veed's templates are a key asset, with a broad selection designed to work in multiple formats. They are fully customizable and can save users considerable time, particularly those on the free tier.
By incorporating video content into your marketing strategy, you can effectively communicate your fintech's value proposition, making it easier for potential customers to understand and appreciate the unique value your product or service offers.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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