Lights, Action, Video

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Reaching people through mobile video is easy and cost effective

By Chris Lorence

What, you might ask, does community banking and live-streaming video have in common? A lot if you consider that 55 percent of people watch videos online every day and 54 percent of senior executives share work-related videos with their colleagues at least weekly. With a little bit of fun, video could connect your bank with your current and future customers without much cost.

Are you ready for your close-up?

According to a 2015 HighQ Infographic, these and many other video-viewing statistics make a compelling case for community bankers to consider a closer look at video as a great communication tool. By 2017, a majority of all Web traffic is expected to consist of videos; live-streaming activities and events will certainly be a considerable share of that traffic. As our schedules become increasingly condensed and our attention spans get shorter, watching rather than reading is simply becoming more common. In a recent Forbes study involving senior corporate executives, 59 percent said if they were presented with text and a video on the same subject, they would prefer to watch the video.

So what makes interesting subject matter for a community bank created video?

One thing is certain: Authenticity matters most. Real people, not actors, are preferred; perfection is not demanded, nor is it required. So consider live-streaming events at your bank such as ribbon cuttings, milestone anniversaries, employee recognition ceremonies and customer appreciation events.

Imagine the fun of capturing the excitement of elementary school children on a field trip to your bank for the first time to see what’s inside your vault. Their reactions would no doubt be priceless and scream community engagement. What about attending and live streaming the grand opening of a small business that your bank helped finance? Perhaps record a short video—running no more than one or two minutes long—that introduces your bank’s newest loan officer and gives him or her an opportunity to welcome customers to stop by and visit.

The possibilities are almost endless and don’t require a tremendous amount of equipment, budget or even experience to get started. Today’s mobile devices pack enough power to record a tremendous amount of video at the drop of a hat.

Need to edit the video? Most devices have access to a plethora of apps that let you simply and easily trim, merge and connect video takes. Interested in live streaming an event? You can reach a huge audience by streaming directly to your bank’s Facebook page via Livestream (https://apps.facebook.com/livestream) for up to 30 minutes. If you prefer a Twitter live stream, use Periscope (www.periscope.tv). To reach as many millennials as possible, use Vine (https://vine.co). The best part is that these options are absolutely free!

Community banking is definitely about people. Thanks to mobile technology, reaching people through video has certainly become a whole lot more fun!


Chris Lorence (chris.lorence@icba.org) is ICBA’s executive vice president and chief marketing officer.

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