Financial services has become synonymous with shiny brand hero films. If I say “a mare and her foal running earnestly through the fields”, you’ll know what I’m talking about… But do these films still justify the time and cost?
There’s no doubt that brand films have a place in a video marketing strategy. But for financial services in need of developing consumer trust, it’s time to sideline the hero film, drop the corporate mask, and replay authenticity. In this article, Jon Mowat, Managing Director at Hurricane, looks at why going behind the scenes is the perfect way to develop deeper connections, trust, and brand growth in financial services.
Building consumer trust
Financial services has a consumer confidence problem. The sector is one of the least trusted, with only 57 per cent trust among the general population (2019 Edelman Trust Barometer). The industry has typically combated this lack of faith with brand films driving an emotional connection. But with trust at an all-time low, these hero pieces smack of insincerity, and it’s time to switch things up.
The real content hero
So, what’s the solution? Let’s go back to the sales funnel of awareness, consideration, action, and retention. Many financial services brands are already high street names, so a new focus on the consideration stage makes sense to deepen the existing connections and build trust.
When in the consideration (or mid-funnel) period, your customers will appreciate useful, genuine content – guides to financial health, behind-the-scenes videos, and inspiring customer stories are the order of the day. Authentic communications are the key to long-term brand growth, and it’s time to be brave, lower the corporate mask – at least a little – and look your customers in the eye. The CEO of Starling Bank, Anne Boden, certainly achieves this in the #AskStarling video below, where she answers questions from customers via social media.
The video doesn’t cover up her corpsing and mistakes on camera, which dials up the authenticity. The CEO of a bank fronting it out on camera, showing her personality, and being upfront works wonders to build a deeper trust with the consumer. This a bold move but one that will reap the rewards for the brand.
AXA Investment Managers have nailed the “open and authentic” approach, offering a behind-the-scenes look into the brand, an authentic voice, and real people. Take this piece with their CEO, where he is filmed in the real working environment, revealing how a strategy document translates to the reality of the workplace.
Behind-the-scenes content shows the personal, relatable side of your brand. As a financial services company, you’re asking your audience to trust you with their mortgage, savings, investment – which of course translates into relying on you for their home, their children’s future, or retirement. In short, trust you with their life. Therefore, the more you show your human side, the more likely they are to connect with your brand.
Spotlight on your employees
A striking 78 per cent of people feel that how an employer treats its employees is one of the most significant indicators of trustworthiness (Edelman Report). This is something for financial services to shout about as employees in this sector feel more valued by their employer than in other industries.
Which brands are tapping into this insight? AXA Investment Managers have once again got this right, with a series of candid conversations about work/life balance really hitting the right tone and style. Watch the short-form video below shared on social with a link to longer content:
To recap, when you’re planning your video marketing strategy, ensure that you invest in hub and help content, rather than putting everything into a hero film. Get real and invite your customers behind the shop front, so that they can see your brand values in action.