Together with VideoSmart, Age Partnership has launched a real-time acquisition campaign using personalised video.
When using the equity release calculator on the Age Partnership home page, prospective customers receive a personalised video via email, detailing how much could be released from their home using a range of variable information.
Equity Release Explained
Before we delve into the particulars of this campaign, let’s first explain what equity release actually is (because we certainly needed a lesson on it).
Equity release is a way for homeowners to release tax-free money from their home, without having to sell their house.
The amount someone can release depends on the value of their home, minus any mortgage or debt secured on it. Because house prices all over the country have risen over the last 4 years, almost anyone can release more equity than ever before.
Just to give you an idea, in London, house prices have risen 17% since 2014!
Making Financial Products Easy To Digest
Anyone dealing with financial products - whether it’s mortgages, pensions, insurance policies or equity release - will know that the content is complex and not always easy to understand.
In a digital world, people want to digest information quickly, on-the-go and in a simple format.
This is where personalised video comes in.
Receiving A Personalised Video Via The Equity Release Calculator
So, what did the video do?
First of all, every two-minute video started off with the recipient’s name and home town, thereby peaking the customer’s interest.
After a warm and personalised introduction, the video delved into the most relevant section of information: how much the customer could actually release from their home.
This was calculated using the information inputted into the Age Partnership calculator – age of youngest homeowner, value of the property and outstanding mortgage amount.
Every single piece of information, plus the resulting calculation, was included in the video in both text and audio format.
No Alexa-style automated voice, just a friendly voiceover artist personally delivering the relevant facts to an inquisitive homeowner.
How Does The Technology Work?
Without giving away our secret, VideoSmart’s solution uses real-time data to render personalised videos within a matter of seconds.
Each and every prospective customer receives a unique video to their inbox, providing them with a seamless customer experience and, most importantly, the information they are after.
The Importance Of Personalisation
There are a few reasons why this campaign works, but in truth, personalisation trumps them all.
Within the video, 12 points of personalisation are used, including subtle pieces of information, like the percentage increase of house prices in their hometown and testimonials from customers in their region.
This means that personalisation is not being used for personalisation sake; it all has relevance and means something to the end-user.
Each video also includes personalised subtitles, to enhance the accessibility of the content and cater to those who may benefit from visual aids.
Personalised Video Improves Engagement Rates
The result? Video drop off rates are at an average of 1 minute and 40 seconds.
Yep, that’s right - 82% of viewers are watching their video right until the end. When you consider that these videos are two minutes long and dense with financial information, it is enough to impress even the most fastidious marketers.
VideoSmart studies show that when personalisation stops, so does engagement, and this is a glowing example of this.
Data-driven content is so powerful when used well and we think Age Partnership have got it just right.
Want to see the campaign in action?
Try it yourself here
