Financial Services: Where to Leverage Video

Trends / Realness
Sally Anscombe
Sandra Michalska
Nov 7, 2023
Financial Services brands are fighting for consumer attention, especially on social media and the opportunity is huge. Our research shows that 9 in 10 Europeans engage with social media daily, and this skews even higher for Gen Z. However, while ads are proliferating across platforms, challenges persist as people are getting better at filtering out what's not worth their attention. So how best to attract attention at scale? Think video.

Video Triumphs on Social Media!
Our VisualGPS consumer data confirms that video triumphs on social. Video is the preferred format for financial services advice on social media for majority of Europeans. Brands are jumping on board, with 60% of global FS marketers planning to invest more in video content. But adding more video to your visual strategy isn’t enough. For many years, the attention economy was about views and clicks, but today brands need to move beyond. There are two essential elements to this. The first step is an empathetic approach to understanding your audience and cultural shifts impacting their decision‑making. 88% of European consumers believe that companies should be more empathetic to the challenges their customers face. The second step is to understand what video — as a medium — can do to enhance your brand’s message.
Consumers' attitudes shift from financial success to financial well‑being. 
Financial futures can seem distant, with a volatile job market, climate change, and ever‑increasing bills. Poly‑crises have an impact not only on financial wellbeing but also on ability to forecast financial futures. There is a major cultural shift from an aspirational future focus to a more immediate and intentional present. Our research confirms that consumers are now focused on their essential needs. The cost of living, inflation, and the rising cost of goods and services are now the top three economic concerns, well ahead of long‑term commitments such as rising mortgage rates or stock markets. In fact, only 18% in Europe believe that wealth and status are the most important measure of success. This can be seen in attitudes to work and money, as work‑life balance is becoming increasingly important. Finance and wellbeing are increasingly intertwined. VisualGPS shows that priorities such as career advancement or achieving success are on the decline, while priorities such as work‑life balance or spending more time with loved ones are on the rise.

Patterns seen in popular video content used by our financial services customers in the last 12 months confirm this shift. Historically, financial services companies focused on showing aspirational visuals around traditional milestones: buying a house, raising a child, buying a first car, saving for the future. Popular videos emphasized how financial services companies could help their customers reach their aspirational goals, by using dreamy aesthetics with slow motion videos, high‑key lightning, and white, clean colour palettes.

Currently, video patterns show a departure from polished interiors to more relatable homes. White walls and large spaces are now replaced by earthy tones in busy rooms where spontaneity and moments of togetherness show empathy in the here and now. Values are changing and this can be seen in videos of candid portraits, handheld camera movements, and 'in the moment' emotive stories. This is not only a reflection of the times we live in but shows the power of video as a medium to capture the empathy, security, and sense of togetherness that consumers are looking for.
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