Do you want a video, but have no idea of the costs involved? Maybe you’ve allocated funds for a video but not sure how far it will stretch? Or are you a business burnt by a previous production experience that failed to deliver and blew the budget?
It’s the sixty million dollar question.
As a business owner myself, I get it: money matters. If you invest in video, something else has to give. And you want the biggest bang possible for your buck, whatever level that is.
But finding that sweet spot between what you can afford, and the kind of video you want, is tricky. Even if you know your budget, it’s hard to get a handle on what is possible.
Video budgets are a variable beast with many influencing factors. And yet you can make video for next to nothing, with in-house video people who are skilled and have time.
But if you go the outsourced route, then being clear about what your goals is an absolute must. Only then can a professional provider gauge the possibilities production-wise and support you with solutions and affordable options.
So here are some rough budgets and the types of video it may afford you.
If your budget is under $100
What you can get
Selfie-style content on smartphone, vlogs, direct-to-camera tips or educational insights about a subject.
Where to put it
Social.
How to do it
Shoot low-tech smart phone video yourself in office or on location.
Getting it done
Create simple bullet point scripts and lock it in before recording
Tech
Smart phone or webcam.
Nice to have
Plug-in lapel microphone & tripod to improve sound and picture stability.
Editing
Keep simple to avoid editing (unless you have skills or time).
Pros and Cons
An easy and quick way to create authentic and personalised content at volume.
Tips
Add interest for audience by going live at events & activities or doing team shout out.
If George Negus can do it, then so can you!
Under a $1000
What you can get
Video spruiking your product or service.
Where to put it
Social media channels or email distribution.
How to do it
Shoot low-fi content in house (or use low cost stock footage) and engage a freelance editor or production company to edit. It’s much easier than starting from scratch.
Getting it done
You retain creative control and execution is down to you.
Tech
Smart phone or webcam
Nice to have
Plug-in lapel mic & tripod to improve sound and picture stability. For complex scripts invest in a smart phone teleprompter app and consider an LED smart phone case to light up your face.
Editing
If you don’t have the skills, outsource to a freelance editor.
Pros and Cons
You’ll need to manage production. but it means you can keep costs low yet with professional edge.
Tips
Editors charge an hourly rate so try agree a fixed price. Avoid cost blow out by preparing an edit script with best takes and time codes to minimize edit time.
Around $3,000
What you can get
Promotional video with narration.
Where to put it
Website, events and social re-versions.
How to do it
Outsource to a freelance videographer or production company to film for half a day and do a simple no-frills edit. Shoot on your premises and narrate it yourself.
Getting it done
Ideation, script & producing is down to you.
Tech
Professional camera and sound equipment from the videographer.
Nice to have
Shooting on location or in a sound proof studio will add cost but guarantee technical quality and efficiencies such as audible sound and well-lit / styled backdrop.
Editing
This should come as part of a package.
Pros and Cons
You’ll need to come up with concept & manage production, so best for those who are confidant.
Tips
Prepare a detailed shooting script to make sure you film all the elements you need.
$3,000 – $5,000
What you can get
Professionally produced video that tells your brand story or covers your event. Features vision of premises, product, staff and customers and includes short interviews with staff and customers.
Where to put it
Website, events and social re-versions.
How to do it
Outsource to a production company to ideate, script, plan, shoot, edit & deliver. The whole project management package.
Getting it done
You give the brief and sign off on final video.
Tech
Professional camera and sound equipment.
Nice to have
Additional camera gear such as drone may add to cost but lighting usually is included.
Editing
Production Company will oversee script and editing for you to revise / sign off.
Pros and Cons
Takes advantage of external tech, skills and creativity to create evergreen hero content. You’ll likely get some social content within cost.
Tips
Create a detailed brief about the purpose of the video to spark ideas. Look on line to find videos for inspiration.
Over $5,000
What you can get
Longer form video (5/10 minutes) of broadcast quality shot in a studio for use on shopping channel or Commercial network morning show. Educational series or e-course.
Where to put it
Television and web.
How to do it
Outsource to a production company to ideate, script, plan, shoot, edit & deliver. The whole project management package.
Getting it done
You give the brief and sign off on final video.
Tech
Professional camera and sound equipment and a professional recording studio.
Nice to have
Consider more than one camera to capture sessions, workshops and activities..
Editing
Two camera shoot edited into a seamless interview.
Pros and Cons
Can be repurposed for social.
Tips
Be very clear in brief and oversee script before recording for efficiencies.
You may also like to read what Outsourcing model is best for you?