Is video marketing part of your member engagement strategy? It should be. Video marketing is quickly becoming the preferred method of communication to reach your membership. Video production is attainable for credit unions of all sizes and a preferable way of communicating with a large portion of your membership.
For many years, video production required time, resources, and expenses, which are luxuries that many credit unions, did not have. Use of the medium often involved hiring a professional film crew, working many painstaking months to get the script just right. After all, the shelf life of the corporate video had to be at least a year or more after spending a significant chunk of the budget on it. Once done, it was loaded onto YouTube to live out its days as a link.
The scenario is far different today. This once exclusive medium is now the darling of media and communications, as access to creating and viewing media, has vastly improved. Contributing to the popularity is the ease of integration on the Internet and various social platforms. As mobile usage outpaces desktop viewing, video has become increasingly easier way to convey a message on the small screen. Your members find it easier to view information than to read, especially on mobile devices, and that’s where video is outpacing all the other marketing formats. According to Syndacast, 74% of all Internet traffic in 2017 will be generated by video, and that figure will only continue to increase. Cisco Visual Networking Index estimates 80 to 90% of all global internet traffic by 2019 will be due to video sharing, up from 64% in 2014.
The appeal of video today is powerful. Studies show that just putting the word “video” in the subject line of an email will increase open rates by 19%, click-through rates by 65% and reduce the dreaded un-subscribes by 26%, as reported by Huffington Post. Social media sites report similar success. According to Twitter, videos and photos get the most retweets, and Facebook video viewership has more than doubled increasing engagement on every level. We live in a very visual world and response rates support this leaving viewers wanting for more.
Video media also has incredible benefits in boosting your credit union site’s SEO. Google owns YouTube and because of this, your channel’s videos will help increase its ranking. YouTube videos can boost Internet search abilities, especially when combined with keywords and tags. As far as content goes, this medium really pulls its weight.
Video is a very affordable and cost effective platform to connect with younger audiences such as Millennials. Eighty-nine percent of Millennials cannot live without YouTube or digital video, according to Google. This group is shifting away from traditional TV at a very fast rate, preferring online sources to view information and consume content “on demand” and at their convenience.
We live in a multi-screen world. People rarely gather around a single device, such as a television, and pay undivided attention. Your members’ interest is simultaneously divided between a television, tablet and smartphone, among other technology. It is crucial to tell your credit union’s story across as many channels as possible, primarily with a mobile first focus. Video is an affordable and engaging way to meet your messaging goals across these platforms. The creation of videos to accompany your marketing efforts is not out of reach. Evolving technology can allow your credit union to directly message your membership with video.
It’s time to embrace video as part of your marketing toolbox as traditional methods of messaging don’t always tell the whole story or reach all of your desired membership. Bring the viewer on the brand journey that will prompt them to act. Video is a great way to leverage your brand, educate your members about your credit union, and as a lead generation tool to help convert viewers. Either way, video has evolved into a technology that consistently finds new ways to target members and build that audience connection with your brand.