How changing buyer behaviours are transforming traditional industries

How changing buyer behaviours are transforming traditional industries

Banking and Financial Services To view this video please consider upgrading to a web browser that supports HTML5 Video Customer experience is important in every sector, but it’s often overlooked in traditional industries such as banking and financial services. An EY Global Consumer Banking Survey found that customers cited their experience with financial service providers as their top reason for opening a new account or starting a new service. Video is a great way to do that. It also allows them to easily explain products and services, provide financial education, and offer better customer service. Real estate The Great Recession did more than push back home purchases for younger buyers – it rewired their thinking around real estate entirely. And one-to-one personalized videos – possible at scale with the right video technology – help build trust early in the sales process so customers feel like they’re connecting with a person instead of a faceless corporation. Video is also great for support. Customer service or tech support agents can record quick, personalized videos showing them how to troubleshoot a purchase. ¾ of late-stage prospects who received personalized videos purchased. As buyer expectations evolve, so many companies and video is a great way to make the transition easier.

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The experience economy isn’t just about pop-up shops and Instagrammable wall quotes (although both of those are big trends). B2B buyers are demanding more human, personalized experiences at every touchpoint from search to purchase to support. As their needs evolve, so too must the industries serving them. Financial Services, real estate, and retail – traditionally laggards in innovation – are being forced to adapt.

Here are ideas on how to use video to capture an audience’s attention, build trust, and deliver more personal experiences.

1. Banking and Financial Services

Customer experience is important in every sector, but it’s often overlooked in traditional industries such as banking and financial services. An EY Global Consumer Banking Survey found that customers cited their experience with financial service providers as their top reason for opening a new account or starting a new service.

Just over 41% of customers cite “experience” as the top reason for opening a new account.

When banks fail to meet customers’ expectations it leaves the field wide open for fintech startups to poach customers. Companies like Venmo and Mint come in with simpler, friendlier services that appeal more to todays buyers. On the investment side, dead-simple investing apps such as Wealthsimple and Betterment steal young investors from traditional wealth managers.

Look to Wealthsimple for video marketing inspiration

Wealthsimple was quick to jump on the video bandwagon. They knew that they could better educate, connect with, and highlight what they do through video. Their videos garner over 1 million views on average and are just people discussing money (and investing). Their brand messaging “Investing for Humans” is amplified by using video to bring real faces to the story.

Banks and other financial institutions that want to reclaim their relevance have to make a personal impression. Video is a great way to do that. According to Forrester, video allows financial services companies to showcase their brand’s unique value proposition. It also allows them to easily explain products and services, provide financial…

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