Video will account for 82% of Internet traffic by 2021, and financial services brands are paying attention as they seek to engage consumers on social media. This year, for the first time, YouTube reached near-saturation among financial services brands.
The leader among them is Geico, which also clocks in at second place overall in L2’s Digital IQ Index: Financial Services, illustrating its digital savvy. Geico’s YouTube channel has garnered over 800,000 subscribers and boasts at least a million views per video, as well as the most views achieved on a single video.
The brand achieves this success, in part, by including a link to subscribe in the description of every video. In contrast, many other financial brands link to their websites. Geico also incorporates YouTube-specific features like end cards, which prompt viewers to click into a curated playlist of similar Geico videos.
The brand also uses content to generate subscriptions and engagement. Characters often break the fourth wall and ask viewers to subscribe to the channel – all done in full-fledged character. If the storyline permits, Geico also enables a “choose your own adventure” aspect, asking the viewer to select between two options for what a character should do and then automatically sending them to the video version of their choice upon clicking. Just as Geico’s knack for humor and famous TV ads turned the brand into a household name, its unique channel allocation and prioritization of YouTube could bring about digital success.