The Story:
As of March 2022, the Top-100 Banks as ranked by the Financial Brand have garnered 5.8 billion all-time video views, with 1.6 billion of those generated between Q1 2021 and Q1 2022. Collectively, these accounts boast 3.7 million subscribers to their YouTube channels – 610,666 more than the previous year. Additionally, credit unions have boasted 30.4% growth video views during that same period, though their all-time views can’t rival the bank channels’ massive engagement numbers.
The Takeaway:
YouTube is a prominent online platform – second only to Facebook in monthly active users –which is used as both a social media channel, complete with commenting and liking capabilities, as well as a search engine. With video content exploding in popularity across all platforms – particularly TikTok and Instagram Reels – smart FIs are considering how to incorporate video into their overall brand marketing and social media strategies. Though more time-consuming to produce, video content has a stronger ability to captivate audience attention and show the human side of banks and credit unions.
Source: “Social Media Benchmarks,” The Financial Brand, April, 2022