Using video to promote financial wellness: Engaging content for member education
Don’t have five minutes to read the article? Here are the top five takeaways:
- Financial wellness priority: Credit unions can enhance members’ financial well-being and attract non-members through educational tools.
- Power of video: Video is a highly effective medium for simplifying financial concepts, engaging viewers, and fostering loyalty.
- Member and non-member engagement: Educational video content keeps members informed and attracts non-members seeking financial resources.
- Accessibility and inclusivity: Video allows for flexible, accessible learning, broadening the reach and demonstrating a commitment to inclusivity.
- The role of effective partners: Expertise in video production can help credit unions create high-quality, engaging content that strengthens relationships and attracts new members.
In today’s fast-paced world, financial wellness is more crucial than ever. People are looking for ways to achieve stability and growth, and credit unions are perfectly positioned to help them on that journey. By offering educational tools that empower members to make informed financial decisions, credit unions can not only strengthen their relationship with existing members but also attract those who aren’t yet on board. When video comes into play, it can resonate powerfully with audiences, driving engagement and reinforcing the credit union’s mission.
These days, financial advice is everywhere online, and while many sources aim to help, not all offer the reliable guidance people need. With so much varied advice out there—some of it accurate, and some not so much—it’s crucial for credit unions to stand out by providing trustworthy, in-depth financial education. By leveraging their expertise and credibility, credit unions can offer clear, reliable advice through video content, helping members and potential members navigate their financial journeys with confidence.
Video has proven to be a game-changer in financial education. It’s a powerful tool for simplifying complex concepts and keeping viewers engaged. For credit unions, this means they can effectively support both current members and potential new members by delivering easy-to-understand content that enhances financial literacy and builds long-term loyalty.
What makes video so effective? A study by Insivia found that messages delivered through video have a 95% retention rate when compared to a 10% retention rate for text or static images. This supports numerous studies showing that video is overall more effective for message retention. By offering educational videos on important financial topics, credit unions can keep members informed and draw in non-members who are looking for valuable resources to improve their financial literacy. Engaging video content also encourages more frequent interactions with the credit union, boosting overall member engagement.
It’s not just about grabbing attention—videos make financial concepts more approachable. Breaking down topics like budgeting, saving, and investing into bite-sized, easy-to-digest pieces helps members feel more confident in managing their finances. This approach also appeals to people who might find traditional financial institutions intimidating. Plus, video is accessible and convenient; it allows busy individuals to learn at their own pace, ensuring the content reaches a wide audience and highlights the credit union’s commitment to inclusivity and education.
Educational tutorials are a great example of this, providing clear, step-by-step guides on essential financial topics. These tutorials cover everything from basic budgeting to advanced investment strategies, showcasing the credit union’s expertise and dedication to financial education. This not only builds credibility but also serves as an incentive for non-members to join.
Interactive webinars and live sessions offer another fantastic way to engage both members and non-members. These real-time events allow participants to interact directly with experts, getting their specific questions answered. It’s a great way to demonstrate the credit union’s thought leadership in the financial industry and encourage non-members to see the value in joining. Let’s not forget the power of sharing success stories and testimonials—real-life examples of how members have improved their financial well-being through the credit union’s services can inspire trust and motivate others to take positive financial action.
To create content that truly resonates, it’s crucial to understand the financial needs of both members and non-members. Addressing common challenges like saving for emergencies or planning for retirement ensures that your videos provide meaningful value. Keeping the message simple and clear is key, with concise videos that feature straightforward visuals and explanations. High production quality adds an extra layer of credibility. Incorporating interactive elements like quizzes, polls, or calls-to-action, credit unions can drive deeper engagement and introduce non-members to their services.
To maximize the impact of these videos, credit unions should share them on platforms like YouTube, social media, and their website. Social media, in particular, is great for reaching a wider audience of potential new members. Posting videos where members and non-members are most active helps maximize reach and engagement.
To boost visibility, strategies like search engine optimization (SEO), targeted email marketing campaigns, and boosted social can be highly effective. By optimizing video titles and descriptions with relevant financial terms, credit unions can enhance their chances of being discovered by individuals seeking financial education. Email marketing provides a direct way to share video content with members, while targeted social media ads can attract non-members.
Video is an invaluable tool for promoting financial wellness among credit union members and attracting non-members. Its ability to engage, educate, and provide accessible financial content makes it a key component in modern financial education. By leveraging video, especially with the expertise of Storyfi, credit unions can enhance their value to members, position themselves as leaders in financial education, and build lasting relationships with a broader audience.
For credit unions interested in enhancing their financial education efforts, contact Storyfi today to explore how we can help.
