Benefits of Video in Insurance

In the face of changing consumer needs, advances in technology, and the rise of personalization, insurance companies need to keep up with the trends. 

Yet, how do you stand out in a market that’s designed to make it difficult to set yourself apart? Using video in insurance will help.

Incorporating video into your insurance marketing strategy targets rising trends – it appeals to younger generations, enhances the customer experience, and provides facetime with your clients from the comfort (and convenience) of their living room.

In this blog, we’ll explore the benefits of personalized video, and how it can transform your business to thrive during this digital age. For more ideas on insurance videos for websites, check out our guide of insurance videos you can create.

Video marketing in numbers

First, we need to set some frame work so you understand why video, as opposed to other digital solutions. Over the past few years, video has become the preferred medium to learn about new products and services. This is because it’s quick, easily digestible, and pretty entertaining. With video, buyers can quickly learn about a new product in under 60 seconds. Let’s take a look at some B2C & B2B video marketing statistics to understand the state of video marketing in 2020. 

Here’s Oberlo’s breakdown of online video consumption statistics:

  • The average user spends 88% more time on a website with video.
  • 54% of consumers want to see video content, not only for entertainment purposes but also from a brand or a business they support.
  • Video marketers get 66% more qualified leads per year.
  • 88% of video marketers declare satisfaction with the ROI of their video marketing efforts. 

The benefits of video

Video marketing builds trust.

In insurance, you’re working directly with groups and individuals, creating a plan that’s designed to fit their needs. In order to establish and maintain that relationship with your clients, they need to trust you. Especially since you’re managing plans that make a direct impact on their lives. 

Using video is one of the best ways to build that trust with potential clients. Send a video introducing yourself and the value you can offer.  This will immediately put a face to a name, show your authenticity, and establish that relationship. Your potential clients will feel like they know you better, making them more comfortable and confident in your services.

Video marketing is personal.

For the best success, personalize your video message to send to current or potential clients. These will be one-off videos that are specific to the individual. This is a perfect opportunity to answer any questions, or go over material that is harder to relay through text and email. It’s a win-win for both parties – video makes it easier for you to explain, and easier on the viewer to comprehend. Tailoring your message and offerings to each client has shown to improve ROI, lower acquisition costs, and enhanced upselling and cross-selling abilities. 

For those times when you need to share a general message to a wider audience, record just one video to send as a mass video email campaign. This way, you’re still getting some facetime with your audience which will ultimately help win over, or maintain, their business. 

If you’re using a platform like Covideo, we offer a personalized video email templates for your company, which displays your message alongside your branding. 

Video marketing is affordable.

Personalized video email marketing is a bit different from your traditional marketing videos. For personalized video messages, there’s no need for any fancy equipment or hefty budgets, instead work with what you have.

Record personalized videos from your phone or computer, all you need is a built in webcam. Don’t worry about editing or compiling these videos either. These videos aren’t designed to be perfect. Instead, you want to come off as relatable and human, so if you mess up a word or two, just roll with it. It’s like having a conversation as you would in person. 

Recording and sending your video through a video messaging platform makes this task as easy as possible. No need to worry about file size, deliverability issues, etc. With Covideo, your video will be displayed in the body of the email – putting your face and message front and center. 

Ready to make an impact with personalized video?

If you’re in the insurance industry, you’re really in the business of relationships. The more you work on building that connection with your customer, you’ll see better results. 

Here at Covideo, we also consider ourselves in the relationships business. We help you stay connected, anywhere. Let’s join forces and see just how powerful personalized video can be for you. Contact us and we’ll connect with someone from our team. 

Can’t wait? You don’t have to. Try Covideo now with a 14 day free trial. No credit cards, no obligations. 

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