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Lloyds Banking Group testing mortgage adviser how-to videos – TMPE 2020

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  • 13/11/2020
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Lloyds Banking Group testing mortgage adviser how-to videos – TMPE 2020
Lloyds Banking Group (LBG) is contemplating the development of 30 second how-to videos demonstrating how to use its platform to complete mortgage processes, it has revealed.

 

During Mortgage Solutions’ The Mortgage and Protection Online Event, Claire Cherrington (pictured) mortgage intermediary technology lead, said brokers should “watch this space” for more interactive content from all three of the group’s brands. 

Cherrington added the group had been trialling the videos with a panel of brokers during the final quarter of this year, with plans to roll them out if they are successful. 

 

Changing consumer behaviour 

During her presentation, Cherrington said the way people consumed video content had changed in the last decade with the average watch time decreasing from 12 minutes and 31 seconds in 2010 to three minutes and 30 seconds today. 

Referring to the rising popularity of 30 second videos on the social media platform TikTok, she said as the second largest producer of short videos, YouTube owner Google noticed the importance of creating shorter videos which would easily show up in its search engine. 

“If you look at the data under that, there’s a trend for even more sharper, more powerful video content,Cherrington added.

Consequently, she said it was important to take notice of the way people reacted to changes influenced by technology and adapt.

Cherrington said: “All these things were out there before Covid-19 but there wasn’t a need to adapt, there wasn’t a driver behind that.

“This is what has been difficult about the pandemic, it’s the speed at which it’s changed trends and behaviours out in our market.

“It’s important that we constantly look at these changing behaviours.” 

 

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