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How much does video really cost?

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It’s the sixty million dollar question.

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?

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.

And if you know your budget, it’s often hard to know what it will afford you.

Video budgets are a variable beast with many influencing factors, I wont lie. And yes you can make video for next to nothing if you have some in-house people who are skilled and have time.

But if you decide to outsource then being clear about what you want to achieve is an absolutel must. Only then can a professional provider guage the possibilities production wise and help 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.

Check out some free resources to skill you up for this.

Getting it done

Create simple bullet point scripts and lock it in before recording

What tech do you need?

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 personalized 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.

What tech do you need?

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.

Under $2,500 

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.

What tech do you need?

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.

 

Between $2,500 and $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.

What tech do you need?

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. Good for products

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.

What tech do you need?

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.

If you’re still struggling to work all this out, we’d love to have a chat and steer you in the right direction, so please give Amy a call on 0404 839 393 or contact us via the interweb.
And to get your creative juices flowing, you might want to swing by our portfolio page.

You may also like to read what Outsourcing model is best for you?

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