Midpoint are unique in the world of foreign currency exchange. They use a peer-to-peer system for matching buyers and sellers of currency in different countries. This means you get a much better rate than at your bank and it’s more transparent. It also happens to be quicker to transfer money in many cases as well.
The issue that Midpoint face is how to differentiate themselves in a competitive Fintech market. For most companies, paying foreign invoices is a pain, but once they settle with a provider they tend to stick with them. The charges are also so obfuscated that it’s hard to understand exactly how much you are paying, let alone realise you’re being taken for a ride. All of this means that Midpoint need to educate the market as well as differentiate themselves from other providers like TransferWise.
Midpoint decided to partner with Xero, one of the leading providers of accounting software around the world. The idea is that if you’re a Xero customer you can easily pay foreign invoices using midpoint and the experience is seamless.
So the challenge was set. In 90 seconds, explain why Midpoint is better than their competition and show Xero users how to enable the service from within their cloud accounting software.
From the script! Midpoint helped by writing down what they felt they wanted to say. We took that and turned it into something that followed the classic marketing mantra of “Problem statement. Solution. Benefits” as well as adding a dash of “Better. Faster. Cheaper”. These are well understood tactics that work well for a script.
It’s always worth reading through a script at a medium pace as well. Time it and I’ll bet you need to revise your script to be more concise. That’s a good thing!
We created two voiceovers next. One Australian and one British. Midpoint chose Australian, mainly because Xero is Australian and much of their marketing uses a mild Australian accent. This is a smart move. Your average Xero user is expecting to be spoken to in an Aussie accent and this video fits the mould.
Midpoint wanted to show some of their cloud based platform off on in the video. We honed in on the important clicks or parts of a foreign currency purchase and recorded them in high resolution on an iMac. Nothing fancy, just Apple Quicktime with “show the clicks turned on”.
It’s worth noting that if you have something particular with your software that isn’t easy to capture we can fake it. Think of it like the video version of photoshopping. Things like a process change or updating a status. Anything’s possible in post (production)…. well almost.
Arguably the most important part of the video (after the first few seconds because people will click off). The point of the video is to get Xero users to try Midpoint and show them that it’s easy. Watch the video and tell us what you think!