Financial Services Explainer Videos: Simplifying Complex

Financial companies offer vital services to customers and businesses alike. Sadly, many of these services and products are complicated, require an understanding of finances, and involve intimidating graphs and charts that the layman can't make sense of. This greatly limits the reach and marketing of financial companies. 

Enter explainer videos: A cost-effective, dynamic way to introduce potential customers to complex fintech services and products through the use of animations, voice-over, and creative storytelling. A boost to both the company's marketing and onboarding activities, explainer videos are a favourite of successful financial companies, and in this blog post, we'll go over everything you need to know about the topic! 

The Benefits of Using a Finance Explainer Video 

Explainer videos offer many key benefits to financial services. This is why many Fortune 500 companies not only regularly use explainer videos in their landing pages and marketing campaigns but also on social media and email outreach. 

Here are 4 primary benefits of explainer videos: 

1. Increasing the Reach of Your Company 

Explainer videos help you increase your reach by introducing your services and products to potential and existing clients in an approachable, understandable way. This is highly important for the continued growth of a financial company. 

If potential clients can't understand what services you have to offer or what makes your products special, it doesn't matter if you offer the best prices, excellent ROI, or innovative products. You simply won't reach clients. This is where explainer videos come in. By breaking down your services and products in easily digestible ways, they can help you reach a much wider audience.

2. Increase Engagement and Improve Brand Visibility 

Sadly, despite a company's best marketing efforts, not many people perceive financial services as interesting or appealing. This certainly limits both the reach and appeal of financial companies. 

Explainer videos can help! By introducing concepts and products in creative, engaging, and fun ways financial companies can engage potential clients on social media, through TV ads, or landing pages. Instead of complicated numbers and paragraphs of text, explainer videos can communicate complex ideas to clients through illustrations, dynamic graphs, and simple voice lines. 

3. Reduce the Need for Customer Support 

Timely and proper customer support is one of the cornerstones of most financial services. To ensure clients' trust, detailed answers need to be provided promptly. This is certainly not cheap, and many companies struggle with the cost of customer support as their client base grows. 

Creating a catalogue of short and straightforward explainer videos about your company's most commonly used services, features, and products allows your clients a way to obtain answers without getting directly in touch with customer support. This not only helps make the onboarding process of new users easier and more effective, but it also helps your long-term clients find answers to common problems quickly, alleviating a substantial load on the company's customer support team. 

4. Create More Comprehensive Marketing Campaigns

Traditional ads see increasingly limited success, and this is especially true for saturated markets like private finances and banking. Companies need to resort to increasingly creative and engaging ads to catch potential clients' eyes and increase their user base. 

Integrating an explainer video into TV or social media ads will increase the efficiency of your marketing campaign. Explainer videos designed for marketing are snappy and engaging, quickly telling potential clients of all the benefits your services/products provide. Striking an informational tone, these videos will appear less "salesy" and more trustworthy to many viewers, allowing you to reach important demographics that are wary of traditional marketing approaches! 

What Are the Hallmarks of a Good Animated Explainer Video? 

Though explainer videos offer major advantages, this is only true if companies use high-quality explainer videos that are made specifically with their company, its services, and its audience in mind. 

Here are some hallmarks of good animated explainer videos, which our team is committed to living up to here at Pigeon Studio: 

• An Understanding of the Target Audience

Animation videos are a highly creative space with limitless approaches and possibilities. An animated video can be informational, funny, gloomy, artistic, etc. However, it is up to the video directors and the company to properly understand their audience and create an explainer video that matches their preferences and tastes. This is key to creating engaging videos that perform well when used on landing pages and in marketing campaigns. 

• Captivating Storytelling 

Explainer videos, especially when produced for marketing purposes, don't just explain a feature or a product. They tell a story. They tell a story about the clients and their needs, your company and its goals, and your products and their unique selling propositions.

A good fintech explainer video will use stories and imagery to turn the abstract benefits of fintech technology into concrete ideas potential clients can relate to! Quality storytelling is certainly important for all animated video genres, and this remains true here!

• Engaging Animation 

While the writing and the storytelling are important, the animation, its flow, its colours, and its quality are equally as important. The quality of the animation is the first thing that catches a viewer's eyes, and if they don't form a good impression, they won't watch the rest of the clip at all. This is especially true on social media where users are bombarded with videos, images, and banners. 

Financial Explainer Videos and Their Advantages 

Getting complex ideas across isn't an easy task, especially in the age of social media. An explainer video is a creative and cost-effective way for companies operating in the financial sector to communicate their services, products, and unique selling propositions to potential clients and broaden the reach of their company! 

Finance Explainer Videos FAQ 

Can You Use Explainer Videos in Finance? 

Explainer videos are used in many industries and sectors and finance is certainly one of the more prominent ones. Explainer videos help simplify complex financial concepts, which aren't intuitive and easy to understand by nature. This helps demonstrate the value of a company's services or products to potential customers, driving up both sales and brand awareness. This is why many large financial institutions and fintech companies have a host of easy-to-digest explainer videos for their most important services and products. 

How Effective Are Animated Explainer Videos? 

Animated explainer videos are a great way to communicate with potential clients, create tutorials, and increase a company's reach. However, their effectiveness will largely depend on the quality and the content of the explainer videos. 

Effective animated explainer videos, if used as tutorials, need to be easy to digest, straightforward, and capable of answering key questions. Effective animated explainer videos, when used in marketing, are creative, snappy, and grab viewers' attention. Creating effective explainer clips requires considerable experience and deep knowledge of both animation techniques and the target audience, which describes the service we provide here at Pigeon Studio! 

Are Explainer Videos Suitable for Social Media? 

There's a common misconception that explainer videos are slow, documentary-style videos where someone in a slow, classroom-like cadence explains business concepts, as such they are not suitable for the fast-paced, snappy nature of social media. 

This couldn't be further from the truth. Explainer videos come in many styles; there are slow, meticulous explainer videos that are aimed at B2B clients, and there are snappy, artistic animated videos that perform exceptionally well on social media. The key is to create explainer videos that appeal to the potential clients' sensibilities, both in tone and style. At Pigeon Studio, our primary objective is to understand your needs and recommend the best solutions to help you achieve your goals. Explore our portfolio to see how we make it happen!