What are good animated explainer videos for fintech?

Animated explainer videos for fintech have supported entities to elaborate their concepts and ideas in recent years. They can be considered as one of the most effective ways to explain such complicated ideas. Specifically, in the case of fintech, it requires educators to explain two different categories of knowledge: finance and the technology behind it. With this kind of complexity, it will be a challenge for any producers to make a good explainer video. In this article, we will discuss the essential components of a good explainer video for fintech, and they would support your purpose.

What makes good explainer videos for fintech?

Before getting into the ‘how,’ first, you need to make sure that you and your production team understand the concept of good explainer videos for fintech. Based on our experiences, a good explainer video should possess 3 main features:

1. Fully focus on achieving the video’s objective:

The use of an explainer video is to explain an idea/concept that is not familiar to the audience. And the end goal is for them to fully understand the topic and take necessary actions. A good fintech explainer video has to clearly communicate its message without any distortions and misleading elements. If your video leaves the audience with tons of questions and unresolved issues, then it definitely fails to get the message through. For example, you are talking about blockchain, but after the video, your audience still needs to go on Google for answers. That is probably because you have not satisfied them.

2. Well-executed features that speak to the audience:

The objective of an explainer video might sound simple, but it requires very high production quality: 

• The first and foremost element is the script. The script in fintech explainer videos is like their backbone. Without it, the videos cannot function at all. It has to be concrete and precise with a touch of fintech expertise. Logic flow cannot be ignored whatsoever since fintech is among the most highly intellectual topics.

• The video should have the right duration. As a rule of thumb, this can range from 30 to 60 seconds. It must be long enough to contain all the necessary information and short enough to match the attention span of an average audience.

• Animated elements should be studied carefully because they are the ‘soul’ of the video. In other words, drawings/illustrations in this type of video are crucial as they symbolize concepts/notions. They have to be simple enough for the audience to understand and, at the same time, complicated enough to catch all the ideas from e-Wallet to the blockchain.

• Sound production for this type of video needs to be balanced among voiceover, music, and other sounds. The voiceover of this explainer video is essential because of its nature ‘to explain,’ so it needs the right voice talents.

Brand relevance that leads to actions:

Fintech products and services can be confusing to many, so it is important to highlight the product/service manual with a step by step approach. This approach, accompanied by the clear call-to-action statement, is commonly used because it shows effectiveness in guiding the target audience to relevant actions.

3. Tips for creating animated explainer videos for fintech

As you already know how good explainer videos for fintech look like, it is time to take action. With our expertise and experiences, we have crafted simple guidelines for you to follow while making your own videos:

1. Develop concrete video content that is crystal clear

A. Make sure your producers understand the topic

In modern society, the fintech products and services are widely used across all walks of life. However, it is still an unfamiliar territory to many people. They usually use mobile payment apps everywhere they go, but only a few understand how it works. Before getting into the video production process, make sure you provide a clear brief of your expectations and the specialized fact-sheet about how your product/service works. You also should offer them a briefing meeting or invite them to use your product/service for a while before getting into the video.

B. Plan ahead for the video structure 

This should be the collaborative works between you and your vendor. A basic and safe overall structure for a fintech explainer video can be:

• Introduction about a specific problem that your audience is facing
• An explanation of your product/service as a solution
• Brand information and strong call-to-action statements

The structure may vary based on your products. If you are selling a mobile app payment, this can be a guide outline for your script. These 3 parts contain essential information for a mobile app payment explainer. For other topics, this can be the first suggestion for the producers to understand in a systemized way.

Fill in with credible information/data.

After having a logical structure for your script, it is important to write detailed content so that it becomes easy for the voice talent to read. These detailed texts should be provided by experts in the field (in the primary fact-sheet), and edited both by the fintech specialist and the production team. Moreover, The information/data should be concise to match the limited duration of the video and should be easy to understand for the audiences. 

Be careful with the concepts

From fintech raw and dried knowledge, it is a complicated process to make them into animated images. Therefore, after getting the feeling of the content, it is wise to choose a visual direction for the whole animated video.

There are multiple approaches for you to choose from based on your purpose, products, and resources. Consider this general fintech video above, they use a simple form of whiteboard style, which suits their purpose of explaining a broad topic of fintech to a mass audience and brings in the feeling of a lecture. To our evaluation, this approach has proved to be quite effective in this situation.

Make sure it suits the target audience.

If you are aiming for a niche or a specific segment in the market, the visualization should match their preference rather than match a mainstream taste.

For example, in this video, a mobile wallet service has explained how it works in a good way by putting it into a specific situation. The animation quality is more than enough for the audience to understand.

2. Tune in the voiceover for a better explanation

Along with the animation, the voice talent who reads aloud the content should be taken very seriously. The voice plays a vital role in the understanding of the target audience, especially the reading script and the tone of voice.

A. Ensure you have the right voice talents that fit your brand

The tone of the voice should fit the brand that is being featured. If your brand is a large financial institution, you should choose a voice talent that matches the serious vibe of your corporation. Your choices can be a narration or an infomercial talent. If your brand is a startup or SMEs who just started the product not long ago, the voice can also belong to these two groups or more on the commercials side of the spectrum.

B. Test the script and make necessary modifications

Sometimes, only when the script is read out loud that producers can spot the mistakes or thinking loopholes. After the first recording, ensure sure you take note and modify the script if needed to make it sound and flow better.

3. Choose your background music wisely

Based on the reading tone of your choice, decide what mood and tone you want for the background music. If your video voiceover is in a narrative tone of voice, consider some soft and easy-to-listen songs. If your fintech video is more on the infomercials side, it is more suitable to choose an upbeat song that can deliver your brand vibe. There are endless options for this particular element. Additionally, there are many sites, both free and paid, that can provide you with high-quality options. Here is our top 9 site list for your reference:

• Epidemic Sound
• Audio Jungle
• Story Blocks
• Free Music Archive
• Bensound
• Amazon Music
• SoundCloud
• IncompeTech
• BeatPick

4. Consider the video duration

An animated explainer video should be around 60-90 seconds.

This is another rule of thumb for the video duration. It is not something you should follow strictly, but if you want to keep your audience engaged throughout a video, this video length is undoubtedly a safe choice. However, for highly complicated and novel notions such as blockchain and cryptocurrency, it can be expanded for up to 2-3 minutes. With this length, the video may stand the risk of a higher bounce rate. On the bright side, it can carry your whole complex content. 

Pay attention to your audience’s preferences.

Although the common practice is to make videos under 3 minutes, there will still be exceptions. If your audience is a group of highly educated people, there is a high chance that they would prefer a thorough explanation that contains all the precise details or in the customer journey, they are in the ‘research’ step, they need lots of information, a longer and more informative form might be chosen over the short one.

If you still find it too complicated, let eLearning financial services help you bring your ideas to life.

How do good fintech explainer videos support your business?

Now that you have completely imagined how a good explainer video for fintech should look like, you should take a look at how a good video can reward you:

1. Provide dual outcomes:

Simplify and deliver messages in a short time

In comparison to pure commercials, explainer videos cannot compete in the impression criteria, but it can compete in the customer understanding field. If a commercial can catch your customer’s attention right at the moment it is aired, an explainer video can make your customer repeatedly watch or deeply understand what you are trying to say to them. Plus, with the visual simplification, it proves to be more efficient than a long-form article.

Provide solutions for customers

Explainer videos have another upside. They provide not only an introduction to the product/service, but it also serves as a solution for a customer doing his/her research. The customers are more prone to content that actually supports them in their daily life’s decisions than pure adverts.

2. Increase customer engagement

Engage a mass audience

If you aim to create content for a mass audience, animated explainer videos for fintech are a perfect way to do it (with careful consideration of the text and visual content). In addition, according to the marketing research of a Hubspot research study, 72% of people prefer videos over text when learning about a product or service. If the video uses an informative approach, it is more likely to attract customer attention and interaction. For example, a US-based animation studio made a video for Rypple (since changed to Work.com) that increased conversions by 20%.

Engage with your target market.

With a more specific target, it will also be beneficial for your company. You can customize your content and images according to the target audience’s preferences. For example, if you are targeting a high-income segment with a high-level of awareness about fintech, you should take into consideration to tailor a modern-look and exciting video for them. This ‘tailor-made’ approach of the explainer video should definitely support the company’s objectives.

Click to see how our animation improves business outcomes:

>> Simple Nursing case study: apply animation as the key for business advancing

Increase essential communications indexes 

As the explainer form video is more friendly and informative than other types of commercials. It can contribute to the increase of the communication indexes on site.

Time on page

If the explainer video contains more useful information for the audience in general, they will be willing to spend more time on your site. They can spend time exploring your product and your brand more as they got to know it first in the video.

SEO

On-site SEO can be more optimized by placing a user-friendly video on top or on social media to channel the traffic back on the web. This can naturally increase your site reputation and trust from search engines such as Google. 

Shares

When a video acts as a solution for consumers’ problems, they are more likely to share with their families and friends. This can happen naturally when the consumer encounters the video or from the KOL/influencer’s pages where you place the affiliates.

CTA

As the CTA comes after a well-defined product/service, there is a high chance that they will follow your instruction. Unlike written documents, CTAs in videos is quite natural. They usually come at the end of the video. Especially for fintech, the common sentences that are commonly used are: Download now, Try it for free, Visit our website, Learn more about…

You can take a look at this explainer video from YPayCash, where they use the CTA to call customers to download the mobile application.

Conclusion 

It is not difficult to make an explainer video, but it takes lots of effort to make a good one. From the logic script to the right visual and sound,  it has to be detail-oriented in all stages. But the most important thing in the explainer video type is the content. Content plays a vital role in deciding what a good fintech explainer video is. Focusing on delivering the best-in-town content through visuals, sounds, and music is the right direction.  

With a good fintech explainer video, you can do more than just give out information. It can help you engage with potential customers and increase the conversion rate throughout the sales funnel. If you are interested in making one for your fintech business, don’t hesitate to contact us for a free 30-minute consultation.