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Personalized Videos : How it can help Financial companies?

In our previous blogs, we introduced Personalized videos and explained how customized content can be relevant and engaging for your target audience. Also, we talked about how Mediawide can help you create Personalized videos on a mass scale for your customers.

Now let’s read out a conversation between Mediawide’s Sales Manager and Finsmart’s VP Marketing to understand how a Financial company can elevate their customer’s experience using Personalized videos.

Mediawide : Hello! We are here today to introduce Personalized Videos.

Finsmart : Thanks for scheduling the demo. Please proceed.

Mediawide : To begin with, let’s understand how a financial services company can use Personalized videos.

Based on the products that customers have purchased, you can up-sell and cross-sell supplementary products to your existing customers.

Using the customer’s existing bank account information, you can educate and advise customers on the best ways to take control of their finances, manage their cash flow, and invest in products that provide the highest returns.

Sending a personalized video offering a credit card, an account summary, and spending behavior could be a great idea.

You could also make the customer onboarding experience extremely fulfilling by explaining how customers’ invested funds will grow, and introduce the customer to his relationship manager providing his name, email, and contact number for all future communications.

Finsmart : Sounds good. I have some questions before we move further.

Mediawide : Please proceed.

Finsmart : Are the personalized videos in MP4 or HTML5 format? And how are they different?

Mediawide : The personalized videos are in HTML5 format, there is a big difference between both types.

Firstly, the file size between these formats is vast, a typical HD 60 second MP4, for example, maybe around 80Mb, this will need to be streamed at around 8Mbs. An HTML5 video would be around 1/10th of this size, so around 8Mb, so you can see the bandwidth saving straight away!

HTML5 video uses vector graphics for text and graphics; this is a highly scalable format, which does not pixelate. You can display a vector graphic billboard size, and still, the curves would be smooth.

Finsmart : So HTML5 videos increase and optimize interaction with the customers right? And how are the video templates created?

Mediawide : Yes, customers do like interactive Personalized videos.

Video templates are created through the Mediawide Video Toolkit. This is a desktop application, which is used to create the videos, tag them for variable data, and add logic. Depending on the video, this can be done in-house by your own team or can be outsourced directly to Mediawide’s production team.

Finsmart : OK, so how quickly is a video generated for our customers?

Mediawide : It’s a very quick process.

A typical marketing video is dynamically created in less than one second. The solution only creates the video if the video player button is pressed. At that exact time, the video is created and starts playing.

Finsmart : Do I need special software to view the video?

Mediawide : No.

The video created is in HTML5 format; therefore, only a modern browser is required, such as Chrome, Safari, Firefox or Edge. These videos will also work on tablets and smartphones.

Finsmart : That’s nice. What is variable within the video?

Mediawide : OK, let me explain this.

The variable elements of a personalized video can be text, images, URL Links, or video. When the template is created, markers are set which allows content to be replaced with new content.

Finsmart : Ok got it. And what about analytics? Are we able to track the videos?

Mediawide : Yes, the Mediawide CMP offers analytics.

Our CMP helps you measure how your video has performed. You can track videos and can access analytical reports to get details like: – How many times was the video played? – How long did the user watch the video? – What interactive features were used (sliders, buttons, etc.)? – What Click-Through Actions (CTA) were performed?

Finsmart : That’s nice, analytics really helps our business. Now tell me, can this solution be integrated with Marketing Automation Platforms?

Mediawide : Yes.

You can deliver these videos through different marketing automation platforms depending upon what works best for your customers. Send out any number of emails, each with their own personalized video, using an email platform or marketing automation software. Basically, these applications aim to help B2B marketers and organizations manage sales lead generation, follow-up emails can be sent, and workflows can be triggered.

Finsmart : Thanks, this conversation has really helped me understand the benefits of Personalized Videos. We will certainly go ahead with this.

Mediawide : That’s fantastic, our in-house design team can help you create personalized video templates,  based on all the inputs provided by your team. Let’s schedule the next call and take it forward.

We hope you found the above conversation beneficial. If you are interested in making Personalized Video Marketing part of your 2020’s marketing plan, please get in touch with our team. We are here to help!

Glenn is the VP of Technology and responsible for enterprise sales, client engagement, and Channel Marketing with leading Creative Operations, Marketing Automation, and Co-Op/MDF program administration firms in the US, Canada, and UK.