As seen on CUES Inside Marketing.
As video becomes increasingly prominent not only in our personal lives but in our businesses, creating sales productions for the “screen” are becoming staples of more and more marketing plans today. But I don’t see these productions as really sales pieces – unless it’s your local car dealer or furniture warehouse declaring (cue the baritone voice with the echo effect): “It’s our annual liquidation sale! Everything must go, go, go, go!”
Instead, video presents an opportunity to connect and teach on a personal level.
For credit unions, these productions (if done right) are tools that provide helpful, educational information to members and greatly enhance the value of your financial institution. A teaching-focused video can create and foster strong, personal connections that ultimately position you as a trusted, primary financial resource. That’s the road you want – not the loud, extreme “sky is falling” promo from Candy’s Classic Couch Emporium.
In this article, we cover eight steps on how to create an awesome sales/marketing/educational (whatever you want to call it) video production. Again, to achieve a greater connection with your members, you have to seriously consider producing a series of these videos that also rise above today’s ever-increasing marketing noise.
But how do you create a video that doesn’t fall flat or even repel the viewer, defeating the whole purpose? And believe me, there are plenty of them out there that reek of eau de lameness. To avoid creating a classic clunker, follow the eight steps below and you’ll be well on your way to a successful production that gains attention and results…
1. Get Attention
Right out of the box – or the first frame – use a compelling question, impressive statistic, clever humor, or a big promise to hook your members and keep them watching all the way to the end.
Much of the time credit unions are getting member/consumer attention with super low rates on loans. This tactic is fine, but after a while it almost becomes white noise. There are so many numbers flying around from different financial institutions, it’s dizzying.
One tactic that will permeate the eight steps and set you apart is creating a story that stems from a consumer’s desire to need a low rate. Why do they need it, how will it help them, and what do they need to do to get it? This would be an ideal stage setting, indeed.
2. Identify the Problem
Everything you sell must solve a problem. The bigger the problem, the bigger demand to solve it.
One big desire that most of us have, unless you’re Donald Trump, is to save money. The Donald, in all likelihood, probably doesn’t have too stringent of a budget to live on. But the rest of us, most likely, yes.
So the problem is to make a smart purchase and not to bust the budget. But “saying” and “doing” are two different things. How can the consumer achieve this feat successfully? That’s the problem. Now for the rub…
3. Agitate the Problem
It is not enough to simply identify the problem you will be solving. You must agitate it for your audience to really engage. What does that mean? It’s what happens or what the worst-case scenario could turn into if this problem persists.
In this case, we want to save because that’s what we’re told is the smart thing to do. But we also want to have the best, which might cost a bit more. It’s the classic case of the angel and the devil on each shoulder bickering about saving vs. spending.
That’s agitating that we all can relate to – and resonates really well on screen.
4. Identify the Solution
The solution isn’t you or your credit union’s products or services. The solution creates an inherent problem, which is: how do I fix or stop the original problem?
Cue your credit union riding in on shiny white stallion ready to save the day: a.k.a. the solution. Your credit union is the solution because it’s a solid financial institution that has super low rates, superb member service, and much more that allows the consumer to perhaps spend a bit more and save at the same time.
That’s pretty cool. So how does one do this at your credit union? Let’s proceed to step five.
5. Introduce your Product/Service
Now it is time to introduce what you’ve been pitching. Include a big promise or guarantee with your introduction.
For example, it’s time to show off your new auto or mortgage lending package with those super low rates that will allow your member to spend and save – satisfying both desires. You can also declare, in a non-salesy tone, that your credit union’s rates are some of the lowest in town – or even the lowest if that’s accurate.
6. Results and Benefits
What does your product/service do that will benefit your members? Can you demonstrate any unique features or selling points? (Remember: For video, you want to show, not tell.)
Here’s another cool strategy to use: To decide if each result or benefit your product offers is worth sharing, ask yourself: “So what?” after each.
This question is an excellent barometer to see what registers and what doesn’t. But just don’t ask yourself, ask others – especially people who are not associated with the credit union. You want this message to resonate strongly with your viewers. What results and/or benefits really matter? It’s the “proof in the pudding” that will spur your members to act.
7. Your Call to Action
What should your viewer do next? Use the “if/then” formula to create your call to action. For example, you could say: “If you are struggling with buying your first home, then click here for our first-time home-buyer mortgage loan packages” or “If you have less than stellar credit, then stop by and check out our special auto loan offer for you.”
Whatever the message it is, it’s imperative that you literally instruct your viewer on what to do next. If you don’t prompt them to act, your video is simply an entertainment piece. If you do prompt them to act, then it’s a potential sale that ultimately helps them in the end – a definite relationship builder. They’ll love you for it. So tell them what to do.
8. Social Proof
If your members who are watching haven’t taken action yet, try including endorsements, testimonials, super short case studies, and reviews in your video to provide social proof. These folks need a little more prodding to get moving – and social proof usually gets them out of their chairs. Social proof is peer-related proof that’s relatable. If they see somebody who has a similar story, immediately they can relate and it makes it real for them.
So those are our eight steps to creating a killer credit union sales video. These steps have been proved time and time again in other industries – and even other media. So why not credit unions and video?
You can have each of these eight steps strategically placed in a 30-second commercial or even a two-minute informative piece. Time doesn’t matter – just as long as each step is included and illustrated.
Lastly, video is not going away. It’s only going to become a more and more popular and effective tool for businesses. Now is the time to start working with it. Or if you already are, now is the time to refine and perfect your messaging tactics with it.
What are you doing with your video sales/education pieces? And how are they working for you?
Author: Mike Lawson
Married to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.