Understanding Your Video Budget
As a business owner or key decision maker, a big part of your job is keeping costs down as much as possible. While you recognize the value of certain marketing activities, it can be challenging to justify the cost. It can be even more difficult when you don’t fully understand everything that goes into producing the end product.
This is especially the case with corporate video, particularly since there’s no set price. The cost will ultimately depend on a number of extenuating factors, which can make shopping for video services extremely frustrating.
Fortunately, there are some key considerations to keep in mind that can help you better understand exactly what you’re getting for the price you’re quoted. Take the following, for instance.
Quality Matters – When you’re shopping for a new vehicle, you understand that a Porsche is going to cost quite a bit more than a Honda. Why? Because you’re paying for a higher quality. The same concept can be applied to video production.
Size Matters – At least in this case it does. Regardless of make, a large SUV will always be more expensive than a small, economy vehicle. Likewise, the longer your video is, the more it’s going to cost to produce it.
Features Matter – Using the car analogy again, base models are typically set at the lowest price. But when you start adding extra features, like a better audio system or a moon roof, the price starts to go up. Video is the same. The more fancy features you want to incorporate, the greater the investment will be.
With those things in mind, it can also be helpful to understand what specific things may be a factor when calculating the cost of your video project.
Number of Characters – How many people will be featured in your video? If you’re looking to feature multiple interviews, keep in mind that doing so will take more time to shoot, log and edit into the final product. And, of course, time is money.
Location – How many different locations do you want your video scenes to be filmed at? If everything will be shot in the same location, it won’t have much of an impact on cost. If the video crew has to trek to multiple places, however, you’ll have to factor in the time it takes to travel and set up for those additional spots.
Length – As mentioned above, the length of your video will also play a role in how much its production will end up costing. The more footage being shot eats up more hours, both in filming as well as editing for the final product.
Additional Production Details – The more extravagant you want your video to be, the higher the price tag is going to go. For instance, adding a bunch of extra graphics or animations will require a decent amount of extra editing time.
Unfortunately, unlike other products or services, there isn’t much in the way of resources for comparing video production prices. The best way to go into your video project is with eyes wide open and a full understanding of exactly what goes into producing a quality corporate video. This knowledge can help you plan better so that the video you end up with effectively tells your story without breaking the bank.
If you’d like to find out more about bringing your message to life through video (and how much it will ultimately cost), we invite you to get in touch with us today. We can discuss your needs and come up with a strategy that will suit your vision and your budget.