The True Cost of Video Production
Videos and films are a great way to connect with potential customers and are becoming the preferred way to consume content. And they’ve become easier than ever to create. But it’s still not as simple as it sounds.
And before you read further…spoiler alert. There’s no set or standard cost for production. It all depends on the needs of your specific project.
A low-quality video from your smartphone may be great for memes, TikTok, and other social content. But when you’re building a quality brand that you want to stand out, you can’t be scared to spend money when you’re asking customers to spend theirs. That’s why major brands spend millions of dollars on ads, and sometimes they never even air.
While you can still make a quality video on a budget, even with a smartphone, people are often surprised of all the potential costs involved.
Here’s a quick breakdown of what goes into producing high-quality video content to help grow your brand and business.
Script
Maybe you wrote the script yourself. And if it’s a good one, awesome! You saved a little money. It’s one of the true places you can save money since it doesn’t cost you anything to write ideas down on paper. Maybe other than the paper and pen. But just make sure it’s good enough to help reach your goals.
Writing is a place where people often feel they can do the job themselves, because we write so much every day, a lot of people think they are great writers. This couldn’t be further from the truth. Script writing is a refined skill. You need to hit all the points your video needs, but you need to do it quickly and in an entertaining way, and by entertaining we mean it keeps your audience engaged. That’s something that takes multiple drafts.
Even the best screenwriters and directors in the world often spend years and multiple revisions working on it. This doesn’t mean you should spend years working on your commercial or three minute video, but when your success depends on it, make sure you have something great on the page before you film it.
If that’s not something you have the time or talent to do, it’s a good idea to hire someone with experience.
Equipment
Lights…camera…audio equipment. These are just a few of the major pieces of equipment that go into producing video. Then there’s lenses, data storage, and a ton of other moving parts. Which can be overwhelming when trying to decide what you need.
But luckily you don’t have to own all of it. It can often be rented for a reasonable rate or the people you hire to help with your production often own it themselves, since they specialize in that particular field, it’s an investment for them. Which leads us to our next point.
Crew
With all that equipment, you need people who know how to use it. Cameras alone can take people months or years to master. It’s a lot more than just hitting record.
Rather than learn each aspect of production yourself, it’s often better to find skilled professionals that know what they’re doing.
But don’t fret. The scale of your project determines the size of your crew. There are plenty of people who have already specialized in these skills and can often perform double duty if necessary. Every day people make videos for businesses or independent films with limited crews and shoestring budgets. But when hiring people, make sure they know what they’re doing by reviewing their portfolio or reel.
Talent
Who’s going to star in your production? Is it you as the business owner or do you need actors? Sometimes the business owner is who needs to be in front of the camera, but that isn’t always the case. And the decision shouldn’t be based on saving money.
Having the right talent for your business can be one of the major keys to your success. Consider the tone of your project. Maybe you need humor, but unfortunately you don’t have timing. Or something more dramatic, but your acting doesn’t hit the mark.
Always put your project first when considering who should be the face of your business for a project. Not only will this help your success, it can actually save you money by avoiding a reshoot.
Location
Where are you going to shoot your video or film? Maybe you have a single location that works perfectly, but again, don’t force it just to save money. It can quickly take your viewer out of the experience and make it feel cheap. A great location is just as important as all the other elements when it comes to setting the tone and feeling of your video.
Post-production
Okay. You’ve finally shot your video, now what? Post.
This is where it all comes together. Editing the footage, color grading, and sound design. Maybe even special effects. These are just some of the things to consider. And they have their own associated costs. They all require specialized programs, along with powerful computers and the knowledge to use them. This is yet another place where having the right people will cost you upfront, but can actually save you time and money.
In conclusion, unless you want to take on all the skills of producing a video yourself, which can take years to learn, it’s important to understand the costs involved. That way, you can make sure your project is done on time and on budget. And actually helps you achieve some of your business goals.
The better way to think about it is not how much the video will cost, but how much value it can bring to your business in terms of ROI. If you stand to make $100,000 dollars or more, is $10,000 all that much?
If you need help with video or film production for your business, reach out. Onassis offers a suite of services to help businesses reach their production goals and works with you to help determine the best way forward based on your project and budget. Our clients are businesses small to large in the Bay Area and around California.
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