Can you remember a time when amusing cats were only seen on an episode of America’s Funniest Home Videos? It’s hard to believe hundreds of millions of users from around the world upload 48 hours of video per minute, or nearly eight years of content per day, to YouTube, according to the video sharing site.
No doubt, 2012 has been a breakout year for social video. Major news stories, viral video phenomenon, and online shopping all thrived thanks in part to web video. Audiences are now demonstrating they want to engage with video content and play a role in brand success by sharing what resonates with them. That social relationship helped make “personal relevancy” a buzzword for 2012, according to this State of Online Video infographic.
But what is personal relevancy and what does it mean for credit union marketing strategies?
To create personal relevance, a credit union must establish a commonality between the credit union and the targeted member demographic. For example, a Gen-Y member will likely identify more strongly with a campaign promoting a credit union’s mobile capabilities or vehicle loan than a new mortgage or retirement product. And studies show viewer engagement increases when they interact with a brand promoting a subject they value. In 2012, viewers spent more than twice as much time watching personally relevant short videos than in 2011. Statistics like this go to show video in and of itself is not enough to engage members. The content must also resonate with viewers.
So what does this mean for 2013? Video content consumption will continue to grow not only on the web but also on mobile phones and tablets. If viewers want to watch and share videos that matter to them, then surround your members with video content that is heavy on personal relevance. Make your members your brand ambassadors by promoting those hot-button issues they’ve shown an interest in, such as how to budget or how to access your mobile banking app. Don’t be afraid to include an ad or two. Viewers can tune out the ads they don’t want to experience but they’ll still share the rich, personal messaging.