I’d like to start this post off with two simple facts: 1) video marketing is the best way to engage and convert prospective customers and 2) personalized video is the most effective way to connect with your audience.
In marketing, believing in the wrong myths can be exceptionally dangerous as they can lead to missed opportunities, lapsed clients, and countless amounts of lost revenue.
Here are a few marketing myths that may have made you or your team hesitate when evaluating if personalized video is the perfect companion for your marketing efforts.
Myth #1 – Personalization is Only Effective for Returning Customers
It is true that the more data you are able to gather from a customer over time, the more effective your personalized videos are going to become (and the more creative you can get with your personalized content). However, that does not mean that visitors who first come across your site are unable to have their own personalized experience.
To start, you already have access to a few key pieces of data to tailor your messaging such as:
User’s device (Desktop, mobile, tablet, etc.)
Time of day
The second option you have is to gather information from your audience in the video through interactive Q & A. The key here is to explain the benefit of why your customer should share their data. In the personalized video below, watch how customer data is willingly shared in order to discover the best possible credit card for them.
Myth #2 – Personalization Can Get Too Creepy
In an era where customers are growing more aware of their online presence and how social media entities like Facebook are collecting our personal data, it’s true that companies need to be more strategic when using personalization. But don’t let that scare you away from the power of personalized video. With 88% of marketers saying they’ve seen a measurable lift in their results by employing customer personalized campaigns, it is still the most effective way to engage with your customers online.
The truth is, consumers have grown accustomed to personalized messages. In our article, “Personalized Marketing: How Personal is too Personal”, we explore effective ways of using customer data in a personalized message and what would constitute a company taking personalized video too far.
Myth #3 – Creating Real-Time Personalized Video is Too Difficult
With the right platform and approach, implementing real-time personalized videos is easier than you think.
The IndiVideo Interactive Personalized Video platform by BlueRush has streamlined the personalized video process for working with clients to create a professional, branded experience. In the video below, we explore how simple the full video creative and production process of creating amazing personalized experiences is for marketing teams.
Myth #4 – Personalized Video is Too Costly
Like any other marketing campaign you and your team launch, personalized videos come with an associated cost. That being said, there is also a cost associated with lagging behind the latest marketing tactics.
Marketers can expect to see an average 20% increase in sales when utilizing personalized experiences. Compared to generic video, you can also expect a dramatic increase in click-through rates. Personalized videos can earn more than 150% increase in click-through and over 110% increase in overall conversions.
Once you launch your first personalized video, you will be able to optimize subsequent videos, such that the process of creating future videos will be more streamlined, less costly, and earn more positive results.
Since 2003, our tools have helped the top North American financial institutions, including wealth, banking, and insurance, to create empowering and competitive digital financial experiences. We’re revitalizing financial tools and services to help your customers make active financial decisions with absolute confidence in your products.
Larry Lubin is founder of BLUERUSH and has over 30 years of experience providing strategy and solutions to many of North America's leading financial firms. Many leading applications for financial institutions were developed by Larry and teams he has worked with throughout his career.
As CEO of BLUERUSH, Larry is providing a much needed vision for a new age of FINTECH bridging the realities of legacy and the regulatory environment with unlimited possibilities through advancement in digital technology to empower the consumer. BLUERUSH is a digital solutions company specialized in financial service and healthcare solutions.