67% of Fintechs polled agree that animated explainer videos are more engaging
In February this year (2023), we ran some research using Pollfish - we wanted to find out whether an animated explainer video we’d completed for a client was more engaging than a live-action explainer (with similar intentions) we’d recorded last year.
We’d seen some similar convincing results around engagement such as Jotform, who found that their animated video was far outperforming the live-action one, with a 20% higher click rate, which led to a higher serve rate by YouTube. But we wanted some definitive data using our projects to see whether our inkling was right.
Full disclaimer, we love both videos we used in the poll. We’re not doomsaying. Live video is a great avenue for your video marketing. But we felt it in our gut that sticking to the least boring medium out there was a good route for fintechs, and the research proved us right:
Not only were 67% of respondents convinced, but they had some interesting feedback:
“The animation was more engaging, providing visuals to help me understand what was being offered and kept my attention”
“The explanation of the service being offered was much clearer in the animated video”
“I liked the graphics and the faster-moving pace of the second one”
We polled 100 people in the finance space to get these results and feedback, just for disclosure.
Some less statistically significant (but still true) reasons why animations are great for the fintech sector
The problems animation helps your fintech solve:
Competition: Your fintech’s competition only gets more fierce as the industry grows. More challenger banks, payment options and beyond. Traditional financial institutions, big tech companies, and new entrants continue to disrupt the financial services industry. What better way to differentiate yourself from the competition and better explain what you do to set yourself apart, than animation?
Comprehension: Not only do we think that animation is more engaging, but the combination of graphics, voiceover and music helps your audience understand your service, product or brand better.
Security & Trust: With increasing concerns about cybercrime, fintech companies must prioritise security and invest in robust technologies and processes to protect customer data and transactions. The complexity that your clients or customers need to grasp to increase their understanding or trust is high. And animations are great at breaking these complexities down.
Brand building: A lot of fintechs we’ve worked with have used animation as part of their rebranding, or have helped define new branding. The creative development that animation can offer helps provide preliminary assets and define your message.
Differentiation: Animation is still an underused medium. Highly unique and mouldable to your brand style, palette and voice, it's a perfect demand gen partner for startups and growing agencies alike.
Looking for more engagement from your video marketing?
We're firm believers in the power of video as part of your content marketing mix. And yet animation is still vastly underutilised. And for fintechs, there's no better medium to explain, engage, retain and convert your customers.
If you’d like help creating a killer animation for your fintech, or you’d like to talk to us about getting started, or even want some help in where your video fits within a wider marketing strategy, reach out to us.