Robert Sofia knows that experts throughout the wealth management industry have been talking about the value of video for a long time.
Its ability to gain the attention of prospects. Its ability to grow business. The way it allows advisors to show another part of their personality or establish themselves as experts via the creation of educational content.
But Sofia, the CEO of
"Setting up a camera. Setting up the lighting. Getting good on video and figuring out what to say … it's not as easy as it sounds. And people always say, 'Just take a video with your phone and then upload it,'" Sofia said. "That doesn't work for everybody, and most advisors hear that advice from people who are much better at it. So it's not all apples to apples."
In an effort to level the playing field and help more advisors tap into the power of video, Snappy Kraken is partnering with
Co-founded in 2014 by Laura Garfield and Sharon Gottula, Idea Decanter is a firm built on the foundations of commercial photography and broadcast journalism that supports financial advisors interested in making video.
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Idea Decanter is the producer of the
Once the gear is in hand, experts from Idea Decanter work with advisors to develop concept, messaging and delivery strategy. If an advisor wants to work from a script, they have the option to write their own or have one created for them.
When the advisor is ready to go live, Idea Decanter assists by having an expert from their team provide live coaching during the shoot. Advisors also have access to a teleprompter upon request.
Once the video is done, Idea Decanter makes edits, color corrections and adds visual elements to create the final product.
"In short, we take all the time and talent we bring to on-location shoots and use it on your Idea Kit remote shoot," Gottula
Education is also a big part of the pairing. The two companies kicked off the collaboration with a "Be a Creator Video Bootcamp" webinar for Snappy Kraken clients on July 12. The webinar covered the fundamentals of video creation and provided insights into making videos more effective.
Additionally, Idea Decanter will write exclusive video scripts for use in Snappy Kraken's personal connection video campaigns that focus on various aspects of jobs and careers, catering primarily to young professionals.
Combined with Snappy Kraken's existing automated video marketing tools, Sofia believes the partnership is a boon to advisors who understand the importance of video in today's environment but struggle to overcome their own hesitancy or self-doubt.
"If you think about shooting a video with your phone, you still have all those problems to solve. Is what I say is compliance approved? I've shot it, but what do I do with it? How do I upload it? What video host?" Sofia said. "We just take all that off their plate."
The partnership is the latest major effort to help advisors make more impactful videos as numerous studies suggest that both the format and sound financial guidance are trending upward.
In 2023, online video is expected to account for 82.5% of all web traffic, making it the most popular type of content over the internet. Since 2016, there has been a 25% growth in firms embracing video as a marketing strategy.
Americans are also hungry for guidance they can trust. The
That holds true even among young clients. Only 4% of millennial and 6% of Gen Z respondents listed influencers/social media as the most trusted source of financial advice.
"When they are facing uncertainty, they want professional guidance," Sofia said. "And when you're in an environment where we're talking about recession and market downturns, the desire to have a certified, skilled, seasoned advisor give you guidance is greater than ever."
To meet the demand, Merrill
In late February,
Ari Baum, founder and chief executive officer at Endurance Wealth Partners in New York, is an advisor who credits the Idea Kit for removing the guesswork involved in his own video production endeavors. As a result, Baum said he was able to more than double his client roster.
"At its core, providing financial advice is a relationship business. Videos are a surefire way to keep client relationships fresh and engaging," Baum said in a statement. "Through video creation with Idea Decanter, I have gone from an advisor to an ally by making my clients feel more connected to the work we are accomplishing together."
Here are a few quick tips from Idea Decanter and Baum to make better videos.
