Banking Made Personal Through Video
Updated August 9, 2018.
In recent years, banks have created video advertisements that relay a common theme: personalized retail banking. This popular trend may be due to the negative connotations and lack of trust associated with big banks, especially since The Great Recession.
According to a 2017 study by Statista, only 30% of people put a great deal of trust in big national banks. Although Accenture states trust in banks has been at its highest since 2012, “two-thirds of surveyed consumers said it was important a bank used personal data to provide advice relevant to their personal circumstances. In fact, personalization was the top cited factor for choosing a current bank account provider.”
With Bank of America’s reputation as the bank with the “broadest range of vulnerabilities,” it’s no surprise that the corporation has been trying to change its image. In hopes to gain client trust, the bank created an advertising campaign focusing on heartfelt relationships, the needs of the customer, and most prominently, personal connections. Each new ad ends with the message: “Life’s better when we’re connected.”
In the video titled Portraits, the central message, “we know we’re not the center of your life, but we’ll do our best to help you connect to what is,” helps portray Bank of America as a supportive and humanistic brand. The setting, characters, and flashbacks in the video also tug at the emotions of viewers and make the story relatable.
Chase Bank took a different personalized approach. In this funny commercial, a quirky couple walks their pet pig into Chase Bank to discuss their retirement plan. With “Boombastic” by Shaggy playing in the background, this lighthearted ad makes the bank feel like an approachable, trustworthy brand that will cater to you specifically. Associating the bank with peoples’ lives, instead of just “dollars and information” is a key aspect of the video which also personifies the company.
U.S. Bank takes another creative, personal approach in The Escape. The majority of this video is from a dog’s point of view. In NYC, this adorable pup doesn’t have a lot of space to roam free and play. At the end, he excitedly barks as we jump to a suburban setting with a nice home and a big backyard that his owners just bought. He finally gets to run around freely. The narrator states, “whatever your financial goals are, a U.S. Bank wealth management advisor can help make them a reality.” This ad certainly plays on the emotions of viewers (especially pet owners/lovers in urban settings), and provides a nice touch with the message that U.S. Bank is there to help you reach your personal aspirations, like purchasing a big suburban home.
These are just a few of the many financial institutions trying to create a more client-friendly image through video. Building consumer trust in banks isn’t an easy task, but with videos like these, it’s certainly possible.
Alanna Goodman is the marketing and communications intern at Green Buzz Agency.
Danielle Santilli contributed to this post.