mwc consumers in crisis opportunity
TRANSCRIPT
Video's high engagement factor, combined with the Internet's tracking and targeting capabilities, offers consumer finance companies a highly
accountable method to sway the hearts and minds of their target audience
Presented by:Bob Sullivan Garth E Graham954-32-2102 954-325-7816 [email protected] [email protected]
Mortgage consumers are in crisis, facing rising payments, an onslaught of bad news, and less options to work through their situation
Mortgage companies need to dramatically improve their communication with customers Mortgage is a hot news topic, and news is the top sector of internet video Mortgage education is rapidly becoming a mandatory part of the relationship with consumers Video is a highly engaging and cost effective method to reach consumers Professional video is preferred by consumers, but not readily available in the existing portals Video creation, production, hosting and distribution is a new and rapidly evolving technology Video distribution provides an opportunity to maintain customer relationships, at a lower cost Mortgage-Videos.com (MVC) provides YOU an ability to immediately begin a video content and
distribution strategy
Enhance existing relationships, and Acquire new customers
Nearly three out of four (74.2 percent) U.S. Internet users viewed video online◦ Online viewers watched an average of more than three hours of online video during the month (181
minutes)◦ The average online video duration was 2.7 minutes◦ The average online video viewer consumed 68 videos, or more than two per day
By 2011, 86.6% of the US Internet population will consume online video, up from 62.8% in 2006, to over 180M (eMarketing)
Google purchased YouTube for $1.6 billion in October 2006◦ Site showing more than 100 million videos a day ◦ Search algorithms are moving toward video and show integrated video window in search results,
increasing the popularity of videos The fastest-growing Internet ad format is video, which will see spending surge by
89% in 2007. (eMarketer) In 2011, nearly one in every ten dollars spent for advertising on the will be for video
advertising - video ads will become a driving force in overall Internet ad spending gains.
Video + Internet = Opportunity
The growing adoption of broadband has helped to pave the way for mainstream audiences to embrace online video◦ 40% increase in home broadband adoption in 2006 is double the
previous year◦ 75% of new internet users are subscribing to broadband ◦ Well above 75% of broadband users watch video online
(PewInternet)
63% of online adults regularly watch or download video, and nearly 20% do so on a typical day
Consumers prefer video as a way of receiving “dense” educational and news related material
Wide variety of video content out there: User-generated and professionally produced, and everything in between, although 62% of online video viewers say that their favorite videos are those that are “professionally produced”
Video makes consumer stay on the site– average user watches 3 videos on each visit, for total of over 8 minutes on site
Consumers appear to want a trusted source - Expert advise matters Most share videos with others, creating a viral marketing
opportunity (pew), as well as way to engage key influencers (husband-wife, advisor) in each transaction
Companies recognize the importance of promoting a positive association between their product or brand and the content it's associated with
CFI group study in late 2004 (national consumer satisfaction index) shows mortgage as lowest among all finance, and scored lower than federal government
Ranked only above wireless service providers and airlines
That was BEFORE the rate adjustments and delinquencies started…
Mortgage Servicers have traditionally focused on decreasing costs, and providing minimal “self service” for the “normal” customer relationship Servicers not always equipped to talk to customers in crisis Cost per unit is increasing with more demands for personal interactions
Mortgage originations have frequently done through intermediaries who talk to customers - Brokers used to do the talking for lenders, but market conditions have created a void
The NAR reported that over three-quarters of home buyers (77%) use the internet to help in their home search
Over 20M search hits in 2007 for negative topics such as “mortgage trouble”, “subprime” and “foreclosure”
There are over 500,000 videos on the internet for “house and home”, but less than 10,000 for mortgage video and few are professional produced
Current message to consumers is “bad news” - Mostly focused on what’s happening IN the industry, not what’s happening TO the customer
Internet viewers prefer professional content by more than 5 to 1 over content “produced by amateurs” ◦ 62% of online video viewers say that their favorite videos are those that are
“professionally produced
Five Star Entertainment & Media, an Emmy Award-winning television and radio production company based in Boca Raton, FL, produces national television programs, airing in as many as 53 countries. ◦ eight-acre studio complex◦ 20,000 square-foot facility houses production, graphics, standard and high-
definition editing, audio, and soundstage Same management launched newbaby.com in June 2007
◦ Hosts over 1000 videos, and has over 150,000 page views, and over 75,000 videos viewed per month - Have over 150,000 video views on distributed content
Over 40 years of mortgage industry experience of two principals MVC Technology is tested and launched, and provides
◦ Professional video production capabilities ◦ Hosted and scalable video destination site ◦ Technology to support ad serving, and lead generation ◦ Online “widgets” to facilitate video presentation at client sites ◦ Distribution “widgets” to facilitate extending video throughout internet
Destination www.mortgage-videos.com Premier Video community for educational and mortgage
news Targeted Demographic Video Content
MVS Produced Content Garth Graham – mortgage expert Expert Generated Content Mortgage professionals with professional production User Generated Content Existing video assets of clients, repurposed for internet
Distribution Destination www.mortgage-videos.com + company owned micro sites Syndication Easily Distribute Content appropriate financial community
sites Widgets Online “widgets” to facilitate video presentation at client
sites Internet Video Production
Expertise High Definition production studio Execution Process and Technology in place, including relationships
and integrations with the 6 primary video search providers Efficiency All systems go!! From Production to Distribution, including
support for ad servicing and lead generation
For minimal investment, MVC will put your business into the video presentation business, reaching the growing number of customers using video to get “the story”
Gives you the chance to regain the role of being the customers trusted advisor Your existing servicing customers can receive professional produced video about
payment changes, escrow adjustments or other critical topics – reducing the pressure on call centers
Consumers can receive professional video to make them more likely to interact and transact with your
Consumers “under pressure” can view professional videos specifically designed to mitigate defaults and encourage interaction with servicers online
Businesses can take advantage of advertising possibilities, lead generation, and branding opportunities through distribution of video ◦ Video distribution and viral marketing will be supported ◦ Videos will be pro consumer, and will give you a chance to communicate your message as well as
other beneficial content to consumers PR support available to reinforce the message and position brand as video friendly
Video is dramatically increasing in popularity, and video can help to communicate a positive and professional message to consumers
Video can be created at a low cost, and integrated with your existing web properties
Video can be distributed across the internet to extend your brand and reach more customers
Ad serving can be supported to reinforce your message Lead generation is available to capture more customers This can be launched NOW with a minimum level of
support and financial commitment
Review specific business challenges, and potential to create video communication
Execute marketing agreement, with 90 day opt out Determine if internal professionals available for filming Assign marketing or business lead for management of
relationship Review video online and approve Copy “widget code” to current web site Provide press release support
◦ Provide content for approval of press release (one paragraph supporting brand position)
◦ Distribute as appropriate Review reports monthly to track performance
Presented by:Bob Sullivan Garth E Graham954-325-2102 954-325-7816 [email protected]