Fintech Explainer Videos: The Perfect Tool For Fintech Companies
Are you working in the world of financial technology, seeking effective ways to communicate complex concepts to your audience? Are you grappling with the challenge of making your fintech solutions understandable and engaging? If so, we’re here to help.
In this article, we’ll delve into the power of fintech explainer videos as a tool for helping fintech companies demystify complex ideas and financial concepts.
We’ll discuss the rise of fintech, the benefits of explainer videos, key elements of effective videos, and how to create them.
We’ll also guide you in choosing a fintech or finance video production company.
And by the time you’re done reading this, you’ll have a comprehensive understanding of fintech explainer videos and you’ll be well-equipped to use them in your communication strategy. Let’s get started.
The Rise of Fintech and the Need for Clarity
Since the advent of the internet and digital transformation, the global financial landscape has changed dramatically. Traditional banking systems have given way to a new breed of financial technology – or fintech – companies.
In fact, the global fintech market is on an upward trajectory. It’s expected to expand at a compound annual growth rate of approximately 25.18% from 2022 to 2027. By the end of this period, the fintech market is anticipated to attain a market value of roughly $324 billion.
This growth will bring a host of innovative financial products and services, many of which are complex and can be difficult to understand, particularly for non-industry individuals.
That’s where fintech explainer videos come in. They serve as the perfect tool for demystifying complex financial concepts and tools, making them accessible and engaging for a wider audience.
The Benefits and Power of Fintech Explainer Videos for Fintech Companies
As the name suggests, fintech explainer videos are short and engaging animated videos that can explain the vast complexities of the fintech industry in a clear and concise way.
By using clear and concise explanations, these videos help simplify intricate concepts, making them more accessible and understandable for viewers. The combination of well-designed visuals, beautiful music, and professional voiceover recordings enables explainer videos to effectively break down the complexities of the fintech industry into an easily digestible format.
For fintech companies, explainer videos offer numerous benefits:
Improved Understanding and Retention With Fintech Explainer Videos
Studies have shown that video content significantly boosts information retention, with viewers holding onto 95% of a message presented in video form, as opposed to 10% retention rate from text-based information.
This fact highlights the big potential of fintech explainer videos as a communication tool.
Consequently, fintech explainer videos serve as an effective tool in facilitating a deeper understanding and longer-lasting memory of intricate financial offerings among customers.
Fintech Explainer Videos Improve Brand Image And Trust
Fintech explainer videos can play a significant role in elevating your brand image. They do this by showing your dedication to transparency and customer education, two values highly esteemed in today’s marketplace.
In an industry often seen as complex and hard-to-grasp, taking the time to explain your services or products in an accessible, user-friendly way can set you apart from your competitors. It shows that you care about your customers’ understanding and want to make their experience with your company as smooth as possible.
Moreover, it communicates that your brand is transparent. You’re not trying to hide anything in fine print or jargon. Instead, you’re openly sharing information about how your products work. This can build trust with your customers, making them more likely to choose your products and services over others.
Additionally, the quality of the explainer video can reflect on your brand. A well-made, professional-looking video indicates a successful, high-quality brand. It shows you’re willing to invest in tools and resources that provide value to your customers.
Fintech explainer videos don’t just explain, they also enhance your brand image and build stronger relationships with your customers.
Fintech Explainer Videos Can Increase Conversion Rates
When potential customers encounter informative animated explainer videos that effectively communicate the value of your fintech products or services, they are more likely to take action. This can range from signing up for a free trial or demo, subscribing to your newsletter, or even making a purchase.
According to Aberdeen Strategy & Research, businesses incorporating video into their content marketing plans have seen their average website conversion rates increase by 66%.
By utilising fintech explainer videos in your marketing, you can significantly enhance conversion rates, resulting in a higher generation of leads or customers.
Fintech Explainer Videos Can Aid SEO Performance
Fintech explainer videos have the power to greatly enhance the visibility of fintech companies in terms of SEO. Search engines, such as Google, highly value websites that provide engaging content to users, and incorporating video content is a proven method to achieve this.
By incorporating fintech explainer videos, you can captivate your audience and hold their attention for longer periods, resulting in lower bounce rates. This, in turn, sends a positive signal to search engines that your website offers valuable and relevant information.
Key Elements of Effective Fintech Explainer Videos
Creating effective fintech explainer videos involves a blend of art, science, and a deep understanding of your audience’s needs. Here are three key elements to consider:
Simplicity
A very important element of creating effective fintech explainer videos is simplicity. One of the main objectives of these videos is to break down complex ideas into more easily understandable and digestible information.
As such, when writing the script (which we’ll cover letter), it’s essential to use a language that is clear, concise, and free from unnecessary jargon or overly technical terms.
By keeping the language simple and accessible, you ensure that your target audience, which may include individuals with varying levels of financial knowledge or technical proficiency, can comprehend the content without feeling overwhelmed.
Remember, the goal is to make complex ideas more approachable and relatable, allowing viewers to grasp the core concepts without confusion or frustration.
Storytelling
Incorporating a compelling narrative helps capture and maintain the viewer’s attention, making the video more impactful and memorable. By presenting information in the form of a visual story you can frame the complexities of your products and services within a relatable context.
By presenting real-life scenarios, challenges, or success stories, you can illustrate the practical application and benefits of your fintech solutions.
When crafting the narrative for your fintech explainer videos, consider the journey you want to take your viewers on. Start by establishing a problem or challenge that your target audience can relate to. Then, introduce your fintech solution as the key to overcoming that challenge or achieving a desired outcome.
High-Quality Visuals
When creating fintech explainer videos, make sure to invest in visually appealing designs and animations that align with your brand’s image and identity. Clear and well-designed visuals not only enhance the overall production value but also aid in conveying information more effectively.
The visuals you choose should complement the content and enhance the viewer’s understanding of the concepts being explained.
Use visuals to break down complex information into digestible components, providing visual cues and illustrations that support the spoken content. This allows viewers to grasp the information more easily and helps reinforce their comprehension.
Examples of Fintech Explainer Videos
Marqeta Platform Overview Animated Explainer Video
Marqeta’s Platform Overview animated explainer video provides a comprehensive glimpse into their innovative card issuing platform tailored to the needs of agile and digitally savvy customers. The animated explainer video showcases how Marqeta empowers businesses to offer modern payment experiences through its cutting-edge technology.
How to Create Fintech Explainer Videos
Understand Your Audience and Define Your Goals
Before embarking on the creation of fintech explainer videos, a deep understanding of your audience’s needs, expectations, and level of knowledge is key.
This knowledge will serve as a guide to fashion the content and the manner of its delivery in a way that resonates with them.
It’s also essential to be clear on the issue you want to explain and the solution you’re providing through your animated explainer video.
Create a Compelling Script
The script and narration for your fintech explainer videos should be crafted in simple, everyday language that your audience can relate to.
The concepts should be broken down and explained progressively, employing relatable examples or analogies to underscore important points. This method not only helps viewers connect with the information but also significantly boosts their engagement and retention.
Include A Clear Call to Action
Every fintech explainer video should wrap up with a concise and direct call to action, directing viewers on the next steps to take after watching the video.
It could specify an action you desire them to take, such as registering for a free trial, subscribing to a newsletter, requesting additional information, or contacting your sales team.
By offering a clear and actionable next step, you transition viewers from being passive observers to active participants within your fintech business.
Choose the Right Voice Over Artist
Start by identifying the tone and style that best represent your brand and message. Do you need a voice that’s authoritative and informative to convey the intricacies of a complex fintech product?
Or perhaps a friendly and conversational tone would be more effective in making your audience feel at ease while explaining a new app feature?
The voice should resonate with your target audience. For example, if your primary audience are seasoned finance professionals, a more formal, confident tone could be appropriate.
Remember that the chosen voice over artist is an extension of your brand. Their voice will play a significant role in shaping how your audience perceives your brand’s personality and values.
Investing time and effort in finding the right voice over artist can be instrumental in creating fintech explainer videos that effectively communicate your message and engage your audience.
Use Engaging Visuals And Animation
Determine the visual style that best aligns with your brand and the message you want to convey. This could be a minimalist design for a sleek, professional feel, or a vibrant, colorful animation for a more playful feel. It all depends on your brand and your target audience.
The design should be consistent with your brand’s visual identity, including brand colours, typography, and logo. This is key and should feed into every aspect of your fintech explainer video.
When creating the animations, it’s essential to focus on clarity and simplicity first and foremost. Unnecessarily complex animations and transitions can confuse your viewers and detract from your main message.
Instead, use simple, clean and clear animations to get your points across, making sure they align with the script and voice over.
Also, strike a balance between animated visuals and text animation. While animated visuals can powerfully convey information, some key points may need to be supported by on-screen text animation.
Enhancing the Video with the Right Audio
The audio elements of your fintech explainer videos play a vital role in setting the mood, reinforcing your message, and delighting your audience. It goes beyond the voiceover and includes elements such as background music, sound effects, and the overall sound quality.
The voiceover, as discussed earlier, should be clear and professional, effectively conveying the script.
Background music is a powerful tool that can shape the viewer’s emotional response to your video. A well-chosen track can evoke specific emotions or create a particular atmosphere that complements and enriches the message your fintech explainer video.
An upbeat, energetic track, for example, could be used to create a sense of excitement about one of your new products, while a more subdued, calming music track would be best for explaining a complex concept.
Sound effects are another key element of the audio that you may wish to include. Used correctly, they can enhance the narrative, highlight key points, and create a more immersive viewing experience.
Be careful not to overuse sound effects, as they can become distracting if used excessively.
The overall sound quality of your video is also very important. Poor sound quality can detract from the viewer’s experience and give a negative impression of your brand. Ensure that the voiceover is clear and audible, with no background noise or distortion. The music and sound effects should also be of high quality and well balanced with the voiceover in terms of volume.
Guide To Choosing a Fintech or Finance Video Production Company
As the digital landscape evolves, the market has seen an influx of animated explainer video companies, each showcasing a unique blend of services, prices and capabilities.
Your choice of a video production partner for your fintech explainer videos can make a real difference, influencing not only the final video product’s quality but also your personal experience while working with them.
Here’s a practical guide to help you make an informed decision:
Look At Their Portfolio
The initial step in your selection process should involve a close examination of each company’s past projects or portfolio. This will give you a sense of their style, their commitment to quality, and their creative prowess.
Asses Experience in Creating Fintech or Finance Related Videos
A top-tier fintech or finance video production company should have a solid grasp of the fintech or finance sphere, its unique hurdles, and its audience’s needs. They should have experience with creating animated explainer videos for fintech or finance in general. Ideally they should specialise in creating videos for fintech or financial services.
Assess Their Video Production Process
It’s also beneficial to understand the company’s approach to video production. A comprehensive, collaborative and systematic process is a really positive sign.
A process that welcomes your input and incorporates your feedback at the key stages of the animated video production process ensures that the end product truly reflects your vision.
Balance Affordability with Quality
The cost of financial video production services can differ significantly. It’s vital to find a company that can deliver top-notch videos without overshooting your budget.
However as discussed, it’s equally essential to remember that quality should not be sacrificed for the sake of economy.
Good design matters and the goal is to achieve a harmonious balance between cost-efficiency and exceptional quality.
Look At Reviews Or Testimonials
Gaining insights from previous clients and customers through reviews and testimonials can offer a wealth of information about the company’s dependability, professionalism, and level of customer service.
This feedback can offer you a glimpse into what it’s like to collaborate with the company and whether they stay true to their commitments.
Ask About Timeframes
Ensure the financial video production company can meet your timeline for the final video. This is particularly important if your video launch aligns with a specific event or marketing initiative.
Some companies offer a rush service, so make sure to ask. Also, keep in mind that a shorter deadline can potentially impact the quality of the fintech explainer video, so bear this in mind as well.
Conclusion: Harnessing Fintech Explainer Videos for Growth
Fintech explainer videos serve as a powerful tool for fintech companies navigating the complex landscape of financial services. By simplifying intricate concepts, they not only enhance understanding but also foster trust and engagement.
Furthermore, the role of fintech explainer videos extends beyond education. They contribute significantly to the brand’s visibility, conversion rates, and SEO performance. By showcasing a commitment to transparency and customer-centricity, they enhance the brand’s image and credibility.
However, the effectiveness of these videos hinges on their quality and relevance. This underscores the importance of partnering with a competent financial video production company that understands the unique challenges and needs of the finance industry.
As the fintech industry continues to evolve and grow, the demand for clear and concise communication tools like fintech explainer videos will likely increase.
By embracing this trend, fintech companies can stay ahead of the curve and effectively communicate their offerings.
In essence, fintech explainer videos are not just an optional add-on but a necessity in the modern fintech landscape.
Thank you for your time and if you have any questions about fintech explainer videos, please feel free to contact us.