The art of storytelling is typically associated with consumer brands at the cutting edge of design: Nike, John Lewis, Bentley and the like. The financial services industry? Not so much.
And yet, with a little digging, it becomes more obvious that preconceptions of financial services as dry and uninspiring are outdated. From cutting-edge fintech to innovative ways of working, the finance industry has some of the most compelling narratives in business today. And sharing these stories with the world does far more than educate and entertain: it delivers stand-out results for those organisations.
How does storytelling help?
The challenge for the sector’s communications specialists is how to cut through the complexity and communicate that excitement. Or as we see it, how best to use powerful storytelling techniques to capture the dynamism of this fast-moving, constantly-evolving landscape – and see an increase in your bottom line.
We know that audiences want to be both informed and engaged. And when it comes to getting your message across, “facts tell, stories sell,” says Mark Kershaw, Nucco Brain’s Global Business Director. In other words, if you want to sign new clients and boost revenue, it’s time to get creative with brand storytelling.
In industries like fashion and lifestyle, the idea of brand storytelling is nothing new. But for financial services, the potential of this form of communicating with customers is mostly untapped. At Nucco Brain, we see this as a huge opportunity for clients within the financial services sector, who often operate under strict KPIs looking at customer acquisition and retention.
Why exactly does storytelling have a positive effect on your bottom line? Simply put, stories allow consumers to connect emotionally with your brand. In an oversaturated marketplace, it’s all about setting yourself apart from the crowd. It’s more than just hearsay: the statistics back it up. The brands who score in the top 10 of the Global Empathy Index – i.e. who are able to tell their stories convincingly – generate 50% more earnings on average than those in the bottom 10. And recent studies show that US audiences see between 4,000 and 10,000 ads a day, meaning that brands need to do all they can to remain memorable.
Storytelling for finance in practice.
One of our key insights at Nucco Brain is that complex doesn’t mean complicated. We have mastered the art of taking dry and complex topics for our clients, adding our expertise in storytelling and churning them out into engaging and digestible pieces of content.
Take B2B fintech provider ODX. The firm came to us looking for expert support in communicating their technology in a simple and engaging manner to their C suite stakeholders. This project illustrates how a fintech topic that seems complex can be explained in a simple and engaging manner through visual storytelling. The proof that storytelling gets your message across? The campaign is now being used as ODX’s flagship content on their website for all communications throughout the organisation.
Deloitte came to Nucco Brain with a similar request. The firm was keen to promote its already highly respected M&A capabilities to a broader platform of new and existing clients. The challenge here was to take a potentially niche subject and develop an engaging narrative that also captured the key data and the broader story of the firm’s M&A strengths. We created a video that told the story of Deloitte’s world-leading methodology and seamless services in a captivating and effective way. How do we know that this storytelling was well-received? Three years after it was introduced, it remains a top sales and marketing tool for the M&A division.
The explainer videos we put together for HSBC also proves the point that numbers don’t have to be numbing. HSBC China’s Belt & Road is a multifaceted strategy to boost the flow of trade, capital and services between China and the rest of the world. Our job was to translate financial reports and infographics on the features of the Chinese currency and explain the risks and the opportunities of the project into engaging, eye-catching content. We created a series of videos that wove the relevant statistics into memorable narrative form, able to transcend language and cultural barriers and appeal to a global audience. The campaign – again, heavily story-focused – was well received by HSBC’s stakeholders. Online views are a solid way of gauging consumer interest in marketing campaigns, and this video has gathered more than 30,000 views in the months after its release.
No matter how complex the subject, or specialist the original source material, creative storytelling is the way to cut through and successfully engage and persuade an audience.
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