Banks and most business organizations are aware of the power of platforms like YouTube and Facebook. They are valuing this media not only as a means to reach out to customers but also to conduct business by offering new deals, especially in the festive season.
This is why Banking, Financial, and Insurance (BFSI) industry are shaping their attitudes and are acting flexibly to the possibilities for interaction on social media by learning about them through insights and analytics.
“Bank institutions are aware of the power of social media too and are active on social platforms, because they want to meet the rising customer expectations for personalization, demonstrating value to them and positive social care”- (Shankar & Khan, 2012)
SIZE OF BFSI VIDEO INDUSTRY IN INDIA:
At present, the market size of the video industry in BFSI is not more than 50 YouTube channels. That’s why the competition among banks has increased drastically since every brand has started using video marketing. Advertisements of new products, free pricing, and CSR initiatives are collectively acting upon the growth of the bank.
WHY IS DATA ANALYTICS IMPORTANT FOR THIS FESTIVE SEASON?
In a country with more than 500 million online active users, it’s no surprise that every brand will do their best to run online campaigns to lure their customers.
But, knowing few insights like
- What is the most viewed category on YouTube for banking at the time of Diwali?
- The aptest time to post a video on different platforms in the festive season?
- What is the most popular tentpole event?
- What kind of banking content do Indians watch at the time of festive events?
- Brand viewing pattern for different festivals.
- Most popular keywords in this timeframe,
Brands can make their digital campaign even more effective and can stay ahead of their competition.
This is why we at Vidooly have created a custom 78-page report for Banking, Financial Services, and Insurance (BFSI) industry that details every aspect that a BFSI brand needs to know for their advertising and branding campaigns.
The main objective of this report is to understand the audience behavior, month-on-month viewership, keyword analysis, and best time of engagement at the time of festive seasons for Banking, Financial Services, and Insurance (BFSI) industry.
This report “India BFSI Industry, Digital Media Content Performance & Untapped Opportunities For Increase in Brand Presence, Promotion & Reach through Social Media Analysis, 2017 – 2018 ” highlights the importance of Indian festivals for Banking, Financial Services and Insurance (BFSI) industry and how marketers can use predictive audience behavior analysis for their advertising campaigns and implement their marketing efforts with the help of data generated by analyzing more than eight thousand videos.
Click the button below to download the complete teaser report.
If you like to have the complete report, then contact us at namita@vidooly.com.
EXAMPLE OF A BANK USING YOUTUBE INSIGHTS:
One of the best examples of a bank using custom YouTube insights to run their campaign:
FlexOne Campaign:
What were they looking for through YouTube insights?
- Gain good reach in the demographic of youngsters
- Get to understand where banks like FlexOne could engage with the youth audience
What did they do? –
- Contact the influencers through data–
Influencers are an essential part of their campaign. They selected YouTube vloggers as per the popularity of their content and asked them to create their own ideas to promote FlexOne on their channel using crisp storytelling and short sketches.
- Video animation:
FlexOne created ten animated shorts for their YouTube channel negating the message they procured through YouTube insights.
- Focus on Mobile:
As more than 50% of YouTube views are from mobile, they created a custom strategy just for their mobile marketing by understanding the video duration patterns generated through insights.
Also, by understanding the apt video content duration insights, they were able to curate content that’s more effective for TrueView skippable ads complemented by snappy 6-second bumpers, which deliver a less intrusive tease or echo message to mobile-first consumers.
What FlexOne got through this campaign that used YouTube insights?
- Generated 1.8 million organic views.
- Paid amplification drove an additional 6 million views.
- They got a 45% increase in their popularity nationwide.
- 25% increase in trust among their audience.
- 30% increase in perception nationwide as a fun brand.
- Got over 99% positive sentiment – which is unheard of.
“It’s great to be able to do something that’s a little bit different. You Still need to take the risk to rack rewards – Alex Bennett | Senior Manager |Digital marketing, nationwide”
For most of the Banking, Financial Services, and Insurance (BFSI) industry brands, there’s still a great deal of untapped potential to connect with consumers this festive season by using data analytics. If you would like to have a custom report on any other sector for this festival season, then contact us here.
Thanks for reading the blog. If you are a brand/agency and want deeper insights related to your video marketing campaigns then reach us at 8527863094 or send in your queries at marketing@vidooly.com
Akshay Chandra
Being an artist, movie buff and a media enthusiast, content writing is my career train. I am a proud alumni of Symbiosis Institute of Media Communication (Pune) and currently working for Vidooly.