• Videos Explainer

Why Financial Services firm need an Explainer Video?

It’s plain and simple, everyone wants their business to be approachable. Gone are the days when customers would dip deep into multiple pieces of research to find what works best for them.


With the passage of time, our attention spans have seemingly decreased, and we are always on the lookout to make our lives easier


In the business world today, it’s extremely difficult to engage with your audience without boring them. Many marketing strategies that had once been a pivotal point in grabbing the attention of the targeted audience have started to fail now.


And especially an industry like financial services which is all about numbers. There’s a lot of complexity and effort that goes into understanding it.


So, how can you offer your services without boring them? How do you engage, excite, entertain your audience and bring out something innovative at the same time?


Keep reading to find out!


What is an Animated Video?


Animated videos use animation as their basic medium which uses modern technology to produce motion pictures in such a way that a confusing and complex concept is simplified, made clear, and made engaging to the audience in order to ensure better understanding.


People love to be entertained, they like things to be kept simple and the point and animated videos are right now the most powerful tool which is taking the business world by storm.


With their unique storytelling, animation, and video content, animated videos are the perfect marketing strategy for complex businesses.


Types of Animated Videos


Character animation

This type of specialized animated video involves bringing animated videos to life with the help of different principles such as stretching, timing, facial expressions, anticipation, precise staging, etc.


It’s challenging to perfect the art of animation. So, before investing in an animated video, one must always be sure the animator has had years of practice and is a professionally skilled expert.


Character animation gives you the liberty to completely have your business transformed into the form of a 1-minute movie. You have the full coverage to be as creative as you want while still being on board with your basic message.


These are the main points that go into making an engaging character animation.

  • The diverse facial expressions of every character are very important and they make the animation feel more realistic.

  • There should be a natural flow in the movement and rhythm with proper timing in between

  • They should have an appeal to them which makes them fun to watch

  • Don’t keep the animation too fast or too slow, it should be kept in a balance

Example of Character Animations


Banibs - Character Animation


Usability


MD Restoration


Nila


Whiteboard Animation


This is another kind of animated video in which the illustrator physically stimulates the effects of different and objects which is being created and recorded simultaneously on a whiteboard.

It’s almost like telling a live-action story with visuals.


This type of animated video immediately grabs the attention of the viewer and will be able to break down complex information, especially that of financial services to help communicate with the audience in a more engaging way and are extremely cost-effective.


Whiteboard animation is really simple to make and consists of the following components which go into the process of creating it.

  • The script is the most fundamental part of any kind of video. Outline a clear and gripping script that presents a problem and offers a solution.

  • After your script is done, creating a storyboard is will be basically a graphic organizer for your animation. This should outline the important scenes and points.

  • Narrate your story engagingly and interestingly. Stick to the main point and don’t go on for too long. You need to keep in mind that your audience shouldn’t be bored of it

  • Now, you need to put all the pieces together and use software to do so. This the part in which your animation comes alive.

Example of Whiteboard Animation


Small Business Financing


Product Demo


Landing Page Video

Corporate Presentation


Internal Communication/Presentation


Motion Graphic Animation

This type of animated video focuses on the ability to move graphic elements, shapes, and text. It’s an informative, engaging, and impactful way of making something complex simple.

It’s cost and time-effective, unique and attractive. It’s easier to communicate to the audience through motion graphic animation. The process of motion animation graphics is similar to the above.


Example of Motion Graphics Animation


Product Demo


Service Promo


Explainer video for CRM powered by AI


Healthcare product (SaaS)


How Helpful is an Animated Video for Financial Service Providers?


Animated videos and financial services together are the ultimate pair. Why? It’s no surprise how dry and confusing the concept of financial services is, to get potential clients, you have to make sure they’re able to understand what services you are providing. If you’re handing out extensive handbooks with information that’ll puzzle them even more, there’s a fat chance you’ll be able to pitch in clients.


But, now if you were to invest in a good animated video, you’re chances of being able to connect with a wider range of audience would increase.


You’ll be able to better educate your audience about your services through animated videos, because no matter how educated your audience is, when it comes to financing, things always tend to get tricky.


In order to get someone to hire you for their financial dilemmas, you need to be approachable.


You must be able to get the message sent in a simple and clear way. Only then, will you be able to connect with them and get a thumbs up?


This also gives you an opportunity to set yourself apart from your competitors. Investing in a good animated video will give your services a uniqueness of their own. If your animated video offers something diverse from others, people will be more interested and this helps boosts up your services.


Time is money. A well-crafted 90 or less second animated video can clear a lot of misconceptions as compared to a handbook or presentation. It will be well received by your audience and clients.


What Role Do Animated Videos Play in Increasing Your Conversion Rate?


An animated video will help turn those potential audiences that are difficult to convince into leads that will be willing to know more about your business.


Animated videos no doubt work as a standing sales pitch, which drives your conversion rate to increase. When people see a fun animated video, they’ll be willing to share it across social media, and this way you’ll have more people visiting your website or social media pages to see what more you have to offer.


With the increase in quality and quantity of your traffic, you’ll get more clients pitching in and considering you for their problems. Building a trust relationship with your audience is an important key factor also, you need to also convince them that you’re the right choice they’re making. You need to specify this as well through your animated video.


Your audience needs to be assured that you will go the extra mile to sort out their problems with a solution that is voiced out in a humble and real way. So, what are you waiting for? Go on and start thinking of having your animated video created just the way you like it.



How to Find A Video Production Partner?


Now, that you’ve been convinced that an animated video is the best marketing strategy you need to invest in, let’s talk business. Before deciding what kind of video production company, you want to hire for your animated video, you need to brainstorm the kind of animated video you want and how you want it to be. Having a rough outline will give you the liberty to communicate more professionally with a video production company.


After that, you should have an overview review of the company to visualize if they’re good for the job. Don’t rush through these things, you should also be convinced that you’re not making a choice you may regret later on. You need to set a certain amount of budget and stick to it. You need to keep in mind ROIs as well, of course, you want this to be worth more than the investment you’re making.


You should then shortlist the companies that interest you the most and schedule a meeting with the one that you are satisfied with the most. You should have your questions and queries all sorted out before coming to a final decision.


Here are some options that you may consider while hiring for your animated video.


Hiring Freelancers


Hiring freelancers is an easy and cost-effective option to create your animated video, but is it a wise one? No matter how trained a freelancer is at making videos, comparing it to a video production company is useless.


You should not compromise on quality, that should be your first priority. Freelancers lack the latest technology and software that is required to make a high-quality animated video that will be worth all the hype. They’ll be unaware of the changing marketing trends and won’t have the resources to provide you with a good product.


So, before hiring a freelancer you should be aware of the consequences that might follow.


Hiring Local Agencies:


Hiring a local agency is no doubt a good preference. A local agency will be able to meet your expectations and requirements with their modern technology and software. You’ll not be worried about lacking quality as that will be the first thing, they’ll promise you. If you find a local agency that meets your budget and can provide you with a nicely visualized animated video, then you’re certainly making the right choice.


Hiring Offshore Agencies:


This option will be a little questionable, as hiring someone from an offshore agency is not completely liable. You need to aware of the whole background of the offshore company before coming to a final decision as you need to be sure that the investment you’re making in the right hands and you be satisfied this won’t just waste your time and money. If the offshore agency is a top one, then there’s no question about its quality or verification. But, before making this choice you need to be completely sure.


Hire Hybrid Agencies:


Hybrid agencies are the combination of both local and offshore agencies. Hiring these guys can also be a great option you can opt for, but you need to keep your budget in mind.

No doubt, they won’t compromise on quality either.




Why are Animated Videos Effective for the Financial Industry?


Just like any other industry, the financial industry also flourishes on different and effective marketing trends to keep it going. Animated videos play a major role in pitching in the audience in a unique and creative way. It makes it an easy approach for the audience.

It’s cost-effective as well as makes one’s life so much easier.


Short and crisp videos will easily engage audience more audience than never-ending presentations or handbooks will. As the digital world is progressing slowly, companies need to opt for modern technology that helps boost their sales and makes them more relatable.

An animated video will heavily represent your brand value as well.



What is the Cost of An Animated Video for Financial Service Providers?

In order to determine how much, it’ll cost you, you need to keep in mind these two pivotal factors.

  • The kind of animated video (A whiteboard animation will cost less as compared to a motion or character animation video)

  • Length of animated video

Of course, to keep your video engaging enough, it should be less than 2 minutes length-wise.

Here is a list of the cost that different agencies take to make an animated video

  • $150 to $450 from Freelancers

  • $1000 to $5000 from offshore or hybrid agencies companies

  • $5000 to $25000 from local agencies

Conclusion

We also are a team of video animators based out of Tempe Arizona with satellite offices in different parts of the world following a hybrid agency model, that will work very diligently to meet your needs. We don’t compromise on quality and provide good content at a reasonable price.


We hope you are convinced and satisfied with this article.


Next Step

Schedule a short consultation session with us!

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