Three Reasons Why Banks Need to Make the Most of YouTube

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Bank executives are beginning to realize that social media are changing relationships between consumers and organizations from a one-way broadcast approach to a two-way conversation. Financial institutions need to use those valuable channels to communicate with their prospects and customers on a deeper level.

YouTube is a valuable resource for your institution. Here are some reasons to incorporate a YouTube channel into your media mix:

1). Improve Your Website Search Engine Ranking

In an environment where consumers interest and attention are increasingly fragmented, organizations must develop creative content that captures interest and engagement. According to a survey done by eMarketer, 52% of marketers said that videos yield excellent content ROI – measured in terms of consumer engagement and positive sentiment towards the brand. Based on a Forrester research report, a website with videos is 51% more likely than the ones without videos to be found on search engines. YouTube makes content more accessible to those who are searching for a specific topic on search engines. YouTube also builds a path for your potential customers to find you online.

2). Attract Customers With Engaging Video Content

Consumers follow brands on social media because they find the branded content valuable. River City Bank of Sacramento created a series of “Ask Steve” videos, named after the bank’s CEO Steve Flemming. The videos, which appeared both on the bank’s YouTube channel and its website, are in the style of short newscasts where Flemming addresses issues – such as the solvency of the bank, the impact of low interest rates, and other questions of interest to the people of Sacramento community. The videos have garnered more than 19,000 views. These videos give prospective customers a close-up look at how the bank is doing in a “face-to-face” manner.

3). Build A Viable Online Community

Subscribers of a bank’s YouTube channel are usually interested in receiving updates and information from their bank. One way to build an on-line community is by providing informational videos that help customers understand and better manage their finances and investments. When HDFC bank first launched the Nokia banking application, it uploaded a video to educate the customers on how to use the application. The video registered around 1,000 views in just one week.

The bottom line is: Listen to your customers, create content that engages them, and be innovative about your social media approaches.

Tracey Communications has moved to a new location with a brand new production studio containing a green screen. We create Web videos, video blogs, commercials of exceptional quality all produced very cost-effectively. (Pictures of the new studio are attached). Feel free to contact us at 603.647.7777 or at kevin@traceycommunications.com if you are interested in making videos a key part of your marketing communication strategy.

Thanks for being part of Tracey Communications valuable network of leaders in the financial industry. Please come back to http://traceycommunications.com soon for our next article on social media return on investment potential. Always feel free to send us your comments and questions. We love to hear from you.

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