How are Banks and Credit Unions Using YouTube?

In a recent New York Times special report titled  Banks Slow to Embrace Social Media, the author Sonia Kolesnikov-Jessop notes that “while many consumer goods companies have embraced social media sites like Facebook, Twitter and YouTube as new avenues to reach customers, financial institutions, and especially private banks, have been reluctant.”

While the article’s main point may not be too far off from reality, Jeffry Pilcher of The Financial Brand has detailed a dozen examples of noteworthy YouTube videos uploaded by financial institutions in his latest post titled, Best Of Bank Marketing On YouTube.  We were intrigued by the many creative uses of this social media channel, and thought you would be too!  Below are his top pics including overviews and commentary:

Boys choir sings options for automated phone tree

DNB recruited Norway’s most famous choir, the Norwegian Broadcasting Boys Choir, to sing all of the messages for its automated, touch-tone telebank. For the entire Christmas season, every word on DNB’s phone banking system was sung by angelic voices. The concept is brilliant, the execution is beautiful.

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Deutsche Bank guerilla experiment mocks ridiculous fees

This gutsy guerilla stunt from Deutsche Bank aims right at consumers’ pain points: fees and charges specifically in the financial industry that many people feel are absurd. In one experiment, a small boutique bakery introduces a one euro “entry fee” — just for walking in the door. Those who pay are surprised to learn there is also a one euro “exit fee.” Deutsche filmed a second experiment at a supermarket, where patrons were charged for things like using the conveyor belt in the checkout line and printing a receipt. It’s over the top, but it makes the point. Spot 1 (Bakery) | Spot 2 (Supermarket)

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Mom gets massage and makeover from bank

This two-minute video from Sainsbury Bank starts out like a documentary about the life of a busy mother. She’s a hardworking woman, but clearly worn out from her dedication to her three young children. Sainsbury ambushes her with their Makeover Mobile, a spa on wheels. She’s a lovely person, so you feel really good for her at the end when she steps out looking beautiful. Her expressions of appreciation are subtle, but incredibly powerful; it’s very engaging. It’s rare to see banks capture such emotion in their marketing.

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