Contrary to popular belief it does cost money to use a production company for your video needs. And let me tell you, $400 won’t cut it when you go to a professional video production company. You see, people forget that the returns from using a professional video production company for videos on your website or other avenues of communication, can be substantial.
It all comes down to how much “production value” you’re looking for? In other words, how good do you want it to look? Do you want it to look professional and therefore boost your businesses reputation or are you content with mediocre or even amateur video that reminds people about the quality of your work?
I don’t mean to say that there aren’t great people who are really good at what they do who can’t afford professional video. I know people in that group. I’m simply saying that the quality of your video reflects the quality of your business whether you intend it to or not.
So back to that nagging question, how much money should you put into your video? “Production Value” is the term we use to determine budgets. And production value is determined by a number of considerations.
Lets explore a few concepts related to “Production Value.”
Will this message be viewed on your website or will you want to buy time on local TV to play your message?
For instance, a “talking head” might be great for explaining how to use a product on your website, but it probably wouldn’t work on broadcast TV. So if you wanted to demonstrate your product on TV, in order to not bore your audience, you’d have to create something a little more imaginative. Everything else on TV has pretty high production value so in order to meet that standard your budget should be bigger.
That’s not to say that all web videos are cheap or don’t need as much love. All we’re saying is that when it comes to online video the standard is a little more grey so the video can be whatever you want it to be.
So your budget must take into account WHERE your message will appear.
They say that the cornerstone for the success of a restaurant is “location, location, location.” For a video production it’s, “Script, Script, Script!”
Whether you write it yourself or hire someone to do it for you, every successful video needs a plan and the script is key to pulling off a first-rate shoot.
It’s important to remember this: a fine script is needed so the ideas you want your video to communicate will be presented in a creative and attention-grabbing fashion. What the professional scriptwriter does, is to take your ideas and mold them into a script that delivers your message. Therefore, the script is immensely important when talking about increasing production value.
And a good scriptwriter doesn’t come cheap. Writing the script yourself is always good way to save money, but be sure that you can actually write the script you need for an effective message.
Take for example the Dollar Shave Club video.
This went viral! And that’s an understatement. Can you guess the reason the video did so well? I can tell you it’s not because Alejandro now has a job. The script allowed for a video that the people loved and responded to overwhelmingly. The ROI actually crashed the website because so many people went to sign up.
Ask yourself these questions:
Will the people appearing on camera need to be professional actors or can my staff pull this off? Amateurs are okay, but given a good script, an experienced professional can really “sell” your message.
Where will your video be shot? On location where permits might be needed? A studio? Studio time adds up quickly so a location shoot might be more cost effective.
Will any special equipment need to purchased or rented for the shoot? This could be lighting, camera support or props that amplify your message.
A professional production company can help you dissect this last part and inform you as to what the equipment needs are.
So when thinking video budgets ruminate on theses points:
- Have a big enough budget so your video’s production value matches the standard of the videos surrounding it.
- Spend enough money to have a script that adequately conveys your message. This is absolutely crucial to the success of your video.
- Finally, consider how big your production will be, i.e. professional actors, props, locations and special equipment that will increase production value.
And don’t even get me started on post-production, you know editing and such. That’s a topic for another time!
If you have any questions about what your video should cost, contact us and we can help you.