The Two Types of Fintech Explainer Video
Broadly speaking, there are two types of fintech explainer video:
- Product Explainers
- Content Explainers
Product Explainers do what they say on the tin: they explain the market problem and your solution to it.
Even though fintech products vary widely, these videos all have a common aim: to inspire your ICP to action by wowing them with the product features.
You can use these videos to generate leads, to nurture them, and to encourage them to convert.
Content Explainers are more oblique in their approach. Instead of explaining your solution, they explain a concept or question related to the product.
If your product is an embedded finance solution for example, this might be a video on ‘What is embedded finance?’, or ‘Compliance processes & embedded finance’.
These types of explainers are great for generating demand, as well as nurturing your leads with useful content.
If you’re curious how either of these videos fit into the wider fintech video landscape, we’ve written an article that outlines that here!
Key Features of a Fintech Explainer Video
What makes a fintech explainer video different from any other video?
This is primarily an animated medium. That means instead of sitting your CEO down to discuss the product or concepts on camera, these videos use voiceovers and animated graphics to tell the story.
Why is that the best approach?
When done well, these are a more engaging way to cover the complex information. Not only that, but the use of infographics and diagrams greatly improves audience understanding.
Complicated stuff gets translated into everyday language, and the overall output remains short and punchy, to promote impact and information retention.
Essentially, these videos take a product or concept that might be tricky to explain in words alone, and make it crystal clear.
Why Are Fintech Explainer Videos Effective?
Research has shown that viewers retain approximately 95% of a message when delivered through video, compared to just 10% when reading the same message in text form (National Library).
That’s a huge difference!
You only have a short window to grab the attention of your audience and to convey the crucial information, so you need to present that information in a memorable format.
Whether it’s a new payments solution, an embedded finance product, or the latest regtech tool, most folks need a bit of help understanding how it works and why it’s worth their time.
With an explainer, instead of reading a wall of text your audience gets a quick, engaging overview.
This also builds trust. If prospects understand your product, they’re more likely to believe in the offering and its effectiveness.
Above all else, incorporating videos into landing pages has been shown to significantly boost conversion rates. HubSpot found that embedding relevant video content on a landing page can lead to conversion rate increases of up to 86%.
If you’d like to learn more about increasing conversion and not wasting leads, we’ve written this to help!
What Makes a Good Fintech Explainer Video?
Not all explainer videos are created equal. A good one will:
- Tell a story: Whether it’s a customer journey or a common pain point, great videos have a narrative that pulls people in.
- Use visuals smartly: Graphics and animations should support the message, not distract from it.
- Speak to the audience: Whether it’s a CTO at a lender, or a Head of Payments at an enterprise merchant, the tone and style should match who you’re talking to.
Explainer videos present an amazing opportunity to create an emotional resonance around your product and the problems it solves.
At the end of the day, no one will retain the technical information if you aren’t able to persuade the audience of its importance. If you’d like to know more about improving engagement, click here!
Where Can You Use a Fintech Explainer Video?
A video is only as good as its distribution.
You can make the best explainer ever, but if you don’t use it in the right way then no one’s going to watch it.
The key is to maximise your ROI by utilising the content in a bunch of different ways (if you’re not sure where to start when it comes to measuring your ROI, this guide can help).
Product Explainers are excellent tools for increasing conversion when placed on a product landing page. But they can also be used in targeted email campaigns, on socials, or even on sales calls.
Content Explainers are great lead nurturing tools when posted on social, but are also very effective when featured as part of your website blog/insights section.
Once you’ve done the heavy lifting to create the content, get the most out of it by distributing it effectively.
Conclusion: How to Get Started
At the end of the day, fintech explainer videos are about engagement and information.
They help your audience get what you’re all about without making them work too hard. If you’re considering making one, start by figuring out your key message and who you’re speaking to. Once you’ve nailed that, the rest will fall into place.
If you need collaboration, we’ve written a guide to help you find the right support!