4 Ways Loan Originators Can Use Video To Create Dynamic Relationships
As the digital landscape continues to evolve, video has quickly become the primary type of content that people are choosing to consume. There are good reasons for this. Video is quick (the best videos are under 2 minutes), and research has shown that viewers retain 95% of a message when they watch it, compared to only 10% when reading the same message in text.
For loan officers, video presents a way to quickly send a highly personal message to clients, or develop informative and shareable content.
What do you need to get started?
It’s not as hard to start using video as many people fear. You do not need elaborate equipment or a green screen. A modern smartphone camera has a high enough quality to record fantastic video, as long as you’ve got it stabilized on a tripod or stand. A headset or lavalier microphone can help improve audio quality when you want to create a nice educational video, but it’s not necessary much of the time.
Don’t get fixated on the why-nots, they rarely are as big of an issue as you believe. We’ve heard from several customers who say they’ve had success using a service, such as BombBomb.com, to help guide their video efforts.
1. Loan Milestones
Milestones in the loan process are a great opportunity to get some “face time” with your clients. If you have a well developed workflow, you already know what comes next in your process and can create videos that discuss these steps. As an added bonus, videos can be shot once and re-used for as long as your process stays consistent.
Floify customers have realized outstanding engagement rates by embedding videos into their automated milestone templates. They just set it, then forget it.
2. One-off Explanations
Have you ever tried to learn how to do something from a manual with no images or videos? It can be really difficult to translate words into actions. Not to mention it takes much more time to write out an explanation, than to film yourself saying it.
Need to explain a specific underwriting condition or why you need certain documentation? Send your clients a 30-45 second video explanation and stop the back-and-forth before it even happens.
3. Educational Content
Educational content can be looked at a few ways. First, there’s educational needs for homebuyers as they’re going through the loan process. Second, it is good to diversify the types of content you use to build authority and trust on your website. Text articles can be amplified with video, or videos can be their own standalone content.
Finally, you can get creative using videos with your business partners. You can create bite-size business tips, or simply educate them on any new offerings in a really dynamic way.
If your happy clients are willing, video testimonials can be a powerful piece of social proof for your business. Just ask them to speak candidly and naturally.
Additionally, video testimonials provide another way you can stay top-of-mind with your past clients. When the anniversary of your homebuyers’ loan closing comes around, you can share a flashback to the video to remind them of just how great that experience was.
Tips for Using Video
Keep it short
People are busy. This is why videos under 2 minutes long have the best engagement rates, with significant drop-off for anything longer.
Shorter videos are also much easier for people to watch on mobile devices while on-the-go.
Develop your brand personality
Video is an excellent opportunity to show off the personality of your brand. Are you no-nonsense and hard-charging? Or do you prefer a more laid-back approach?
Be your genuine self to get the maximum relationship building benefit.
Script when necessary
If you’re recording something that is a little lengthier, such as an educational video, it helps to write out a script ahead of time. With a script in-hand, you can do practice read-throughs which will make you look more natural when it comes time to shoot.