How To Create Portfolio Video Statements At Scale

By Poorna Nayak | Jan 14, 2021

In my previous blog, I talked about how hyper-personalization can bring immense benefits to banks and wealth management firms. In this article, I talk about how to get this done.

Personalization can play a crucial role across the entire client lifecycle. Be it client onboarding, on-going engagement, cross-sell, or churn prevention. Personal touch need not be limited to in-person client meetings only, which have anyways become tough in this new normal. Technology has made personalization, that too at scale a reality. McKinsey says that personalization at scale has the potential to create $1.7 trillion to $3 trillion in new value. 

Imagine sending out an engaging video statement that can also be used to collect client feedback. Video statements enable banks and wealth management firms to get a pulse on their clients regularly.

How To Create A Large Number Of Unique Videos

So how does it work? How are 1000's of videos created in a matter of a few minutes? With EnrichVideo you can create and distribute personalized, interactive videos on a mass scale in real-time. In this article, I will walk you through the 3 important aspects that need to come together for creating these videos at scale - Video Design, Client Data, and Intelligent Personalization.

3 Aspects Of Personalization At Scale

Video Design - Starting Point For Any Campaign

Any personalized video campaign starts with the video design. For example, in the case of video statements, we always start with the client portfolio data that goes into creating the PDF statements. We take the key data points from this data that will then be shown in the video. Then we represent the numbers in the form of animated charts and graphs to make it engaging. For example, asset allocation is best understood by the human mind as a pie chart. Video design is a collaborative effort between our team and the bank where we take inputs on brand guidelines from the bank and work on them to come up with a video design as per the bank's policies.

Once the video design is finalized, it is uploaded onto the EnrichVideo Platform from where monthly or quarterly campaigns can be created.

Client Data Is The Key

Any personalized video campaign is as good as the data that is powering it. It is no longer good enough just to include a name in the video and say it's personalized. Examples of simple personalized campaigns with few data points include new year wishes or insurance policy reminders. Video statements are an example of hyper-personalization, as every clip in the video is tailored to the portfolio details of HNI clients.

For video statements, portfolio data can be provided in many possible ways depending on what is easily available from the wealth management platform the bank is using. EnrichVideo Platform accepts CSV/XLS files, XML files, database dumps, or custom APIs. We have integrations with most wealth platforms like Finacle, Charles Schwab, and many others. Even if your wealth platform is not in one of our listed integrations, we can easily pull the data from it.

Intelligent Personalization - A Smart Video Platform

EnrichVideo has intelligence built into the platform. The flow of the video statement is tailored to what is relevant to each individual client. Based on the client portfolio, client history, etc., intelligent recommendations are provided within the video. The interactivity in the form of buttons is also intelligently displayed. For example, for a client watching from mobile, WhatsApp, and phone buttons are displayed, on click of which a call is placed to the advisor. If the same client is watching the video on a desktop, an email button is displayed instead of a call button.

Monthly Creation Of Video Statements

Once the video design has been uploaded to the platform and the data sources are integrated, the creation of video statements is automatic. Every month, the data for all the clients of the bank or wealth management firm is pulled into the platform, the decisioning logic runs through the data to create the most relevant video statement for each and every client. All these videos are created in a matter of a few minutes! Not only that, the videos will work across devices. They will show up fine on big desktops, tablets, and even mobile phones.

Delivery Channels - The Last Step In Getting Your Personalized Videos To Your Clients

The last mile in delivering videos at scale is connecting the personalized video platform with the various delivery channels of the bank or WM firm. EnrichVideo provides integrations for email, SMS, and WhatsApp. The platform comes with a dashboard available to advisors and RMs of the bank. This enables RMs to access detailed video analytics like which clients have watched the video and take actions based on that. Client feedback also gets captured here.

In Conclusion

The Enrich Platform merges the ultimate trifecta of client engagement: scalable personalization and video integration. It empowers banks and wealth management firms to consistently connect with clients, gathering valuable feedback through personalized video statements.