How Much Will a Video Cost?
Image courtesy of stellrweb via Unsplash
If there’s one question I hear/read most often in the video production industry, it is, “How much will a video cost?” People usually asking the question are those who have little experience working with a video production company and, therefore, aren’t sure what to ask to help them get started. So, if that’s you, then keep reading. I want to share 4 things to keep in mind when approaching a video production company for the first time.
Do Your Homework
You might not feel comfortable telling the video production company what your budget is during the first conversation, and that’s okay. I’ve been in dozens of first-time meetings over the years with potential clients and some don’t like to tip their hand right away. They’re looking for high production value, yes, but they’re also looking for value.
So, if that’s you, then it’s important that you research different video production companies in your area before you make that initial call. Larger, commercial production companies whose reel includes national broadcast spots for major brands will probably be out of your price range if all you need is a 2-minute sizzle reel of a local event. Likewise, production houses with a lot of overhead (large crew, large studios) will, by nature, have to charge you more. Independent video producers who only crew out jobs as needed will have lower rates.
Determine Your Market
Dove-tailing off of that first point, also consider the market you’re in. Places like Los Angeles and New York will always have higher budgets for production. However, if you have the flexibility to shoot your video in a smaller market, you can save money on your budget.
Determine What You Want
Asking the question, “How much will a video cost?” implies that the video is some kind of commodity that you just pull off the shelf. Each one is exactly like the others. But of course, that isn’t true. Video content has incredible variety. So you need to know ahead of time what type of video you want. Read this post to help you get started.
More, More, More
The more information you can provide to the video producer, the more accurate the budget estimate will be. So, if you can come to the video producer with a specific synopsis of what you want to accomplish, or a detailed creative brief, or a sample of something similar you want to produce, the producer can more accurately determine a budget for you.
And once you receive your estimate, it’s okay to ask questions. You’ll be surprised at how flexible video producers can be when it comes to budget. I always try and respect what clients can and cannot spend on a video and do my best to meet them where they are. And I’m honest when I tell them what I can and cannot do based on what they want and what they can spend. So feel free to discuss.
If you want to talk about your next video project, be sure to reach out. I’d love to help answer any questions you have about your budget and how I might be able to produce a video for you.