What Factors Determine the Pricing of Video Production?
Now that you’ve made a smart move and decided to invest advertising dollars in online video, the issue becomes exactly how much to spend. Pricing of video production ranges considerably depending on your needs and goals, but you can formulate an effective campaign on almost any budget. Here are a few factors to consider as you’re adding things up.
Planning and production are necessary. Creating video content isn’t worth doing if you don’t invest wisely in the planning and strategy phase. You’ll have to determine what topic you’ll cover and how you want it to be presented. At this point, you’ll also want to decide how long your video should be, keeping in mind that shorter is better in the eyes of your potential customers.
Renting or buying equipment has a huge impact on the pricing of video production. If you don’t have the right equipment to shoot quality video, you’ll have to rent or purchase gear. Here’s where the pricing of video production can run into the tens of thousands of dollars for top of the line A/V set-ups. However, if you plan on doing quite a few videos as part of your marketing approach, you might want to include buying the equipment.
You might want to consider filming at multiple locations. A change of scenery might be exactly what you need to maintain the attention of your viewers as you approach the one-minute mark in your video. If that’s the case, you’ll need to transport people and gear to different locations for filming. Coordinating time and travel will affect your budget, but the more significant investment enters the picture if special arrangements are necessary for your equipment.
It’s sometimes wise to hire an actor or presenter. While you may be a genius in your industry, that may not shine through when you get in front of the camera. Hiring an actor or presenter may be an option, as these professionals know how to be more approachable and personable in getting your message through to viewers. The price, you'll pay, depends largely on the talent you seek.
Developing or outsourcing your script affects the pricing of video production. You can’t create an effective and engaging video without starting with a solid outline and script. You’ll need one if you hire a presenter, but a script is essential if you’re appearing in the video. Straying off topic will alienate your viewers and result in a longer video that they won’t see through to the end.
Graphics might be necessary to better showcase your offerings. Sometimes nothing demonstrates your point more effectively than a representation through animation or graphics. The decision on whether to include them – and where they come from – should be made early on in the process. You might be able to use existing graphics of suitable size and resolution, but it may be necessary to use a custom-design. If you do develop the graphics yourself, make sure the quality is sufficient. There's nothing worse than cheap, tacky graphics.
With all of these factors in mind for pricing video production, you should be able to develop a better idea of where to spend your marketing dollars. You can also decide whether you’d like to keep things in-house or outsource the process, each of which has its pros and cons.
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