You’re thinking about producing a video; but you have no idea what its going to cost. Instead, you pick up the phone and start calling video production companies and creative agencies for quotes. What you will likely receive back is a wide range of pricing, from super cheap to very expensive. Why is that?
Budgeting for video production is like budgeting for new construction
Budgeting for video production is much like building a custom home. No two builders are alike and you wouldn’t go to a builder and say “I want a house, how much is it going to cost”. If you did, the builder would probably laugh, and then tell you to come back with plans and specs from an architect. Or in some cases, they might give you a low ball quote just to take your money and give you something that doesn’t fit your needs and falls short on quality.
Your right partner can help you build the right video budget
If you worked with an architect, an expert in the industry, you would get a home designed exactly the way you wanted, with all of the customizations that were important to you. Your video production partner should work with you to build a video budget in much the same way. Their process, from the very first interaction, should be about understanding your goals and objectives. Expect a good partner to ask you lots of questions early on and make sure its about business strategy and not all about creative fluff. Like many first time homebuilders have discovered, shiny fixtures and pretty paint can’t cover up bad construction. Its still bad construction.
Sharing the budget for your video production is important
It’s important to be as upfront about your budget range as well. Your partner may be able to tailor strategic creative that fits right into your budget. So, if you have a number in your head share it early in the process. The more you share about your budget, vision and goals the better chance you have at getting the most accurate price range for you video project.
Remember, no two builders are alike and neither are video content production companies. So it won’t be easy comparing quotes. The big differentiator for video content production companies is their creative. Like choosing the right home builder, the decision is important, so be sure to pick a partner that understands video marketing strategies, has a proven track record of producing successful video content and backs it all up with amazing creative ideas.