How Can Video Marketing Empower Your Business During An Economic Downturn in Singapore

Not only Singapore, the whole world is experiencing an economic downturn. TheCOVID-19 pandemic could be a crisis for many companies, but it also provides opportunities for marketers to re-think the standard way of doing marketing.The social distancing measures allow people to stay home and spend more time on the internet. That’s why video marketing is surely your go-to medium at this moment.  

One of the recent successful campaigns is HSBC Singapore. HSBC created a video to promote its personal loan services as its market penetration is only 8%, regardless of the attractive offering. The video content strategy was to spark thoughts about the future life and deliver emotional reasons in having a personal loan - “Fora better tomorrow without compromising your now”. It delivered the message thatHSBC Personal Loan helps customers to fund their passion and ambitions to make their dreams come true and enjoy a better life in the future, without sacrificing their today. The video had a great achievement with a view-through rate that was two times higher than HSBC's benchmark and the website visits also exceeded their target by 38%.

From the achievement of the HSBC campaign, we can learn that building positivity and offering hope are the keys to successful video marketing, especially in economic downturn. So it’s important to send a message that how your business can help customers to get what they want and presenting the ideal life and world through the video visuals. Entertainment is also an important element to win. If your video is not entertaining, no one will stay for more than 3seconds. Therefore, adding a humour element is a plus.

Marketers love high ROI, and a great video can always get a high one. According to the findings of Syndacast, 52% of marketers worldwide believe video content has the best ROI. Search engines also suggest video content to users as they learned that people always prefer video. Thus, your video content can always rank higher than the written content.

To Wrap Up

With more and more businesses utilizing digital marketing, it’s harder to stand strong without a goal-oriented approach and killer creative strategy. Brands often face challenges such as resource constraints when it comes to video campaign execution. If you need an easy win in video marketing to accelerate business growth, get in touch with us!

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