Video production is a necessary ingredient to any effective marketing strategy. Video content is engaging; it is compelling, and it is a natural form of communication between you and your prospective clients. But how much does corporate video production cost?
We have all seen behind-the-scenes shots of major motion picture productions packed with high-end gear and massive production crews or heard of the outlandish budgets movie directors have squandered on the latest summer blockbuster. For the average business owner or marketing director, these perceptions can be daunting and may even hinder some from even pursuing video as a marketing tool.
The reality is, corporate video production can be a cost effective solution to any organization looking to develop a marketing campaign that will get results. Here are 6 tips to save money on your next corporate video project:
Saving Tips For Your Video Production Project
1. Set a Budget
The first step in any video production project should be allocating a budget. Like any marketing effort, video production can be scaled up or down to fit the budget you have created.
Your budget will predetermine things like:
- Staff involvement
- Music/graphic licensing
- The logistics of your interviews and shots
Without a clearly defined budget, your video project could easily turn into an unmanageable nightmare. With the wide array of technology available to the general public, video production does not require an expansive budget. Here are a few options:
DIY VIDEO PRODUCTION - $
Record a few soundbites or interview clips of satisfied customers with your cell phone. When recording video in this manner, where quality is not at a maximum, it is important to focus on authenticity. There are a few free or inexpensive editing applications for smartphones that will allow you to polish your video production a bit if you feel inclined. These video clips work best on social media, whether posting organically or through paid advertisements and should stimulate engagement with your online audience. For more info on DIY videos, check out this blog.
STAFF PRODUCED VIDEOS - $$
Entry level video gear can be purchased for staff produced videos for a small investment. Once you have established the type of video you wish to produce, your staff can utilize the appropriate gear from the following list:
- Video camera
- Video editing software
Check out a list of entry level gear here.
Staff produced videos can be engaging and cost effective if you have talented people in place who are willing to expand their contributable skills.
PROFESSIONALLY PRODUCED VIDEOS - $$$
For video projects that call for a larger budget, working with a professional production crew can be an enjoyable, profitable solution. Professionally produced videos tend to exude a level of expertise and strategic messaging that is hard to achieve by yourself. Working with a video production company means leaning on their competency, using their equipment and spending their time on the project. Corporate video production is most often done by professional marketing agencies that partner with businesses.
View some of our video production projects below:
2. Pre Production
When building a house, you would never assemble a crew, start hammering wood together and pour concrete before you sat down and established a building blueprint. The same is true for corporate video production. It is essential to develop a well thought out plan that outlines things, such as:
- Shot selection
- On-camera talent
- Music/graphic usage
Pre Production for video should be done in the form of a meeting that consists of all parties involved in the production of the project. Things like production timeframes, shoot dates, on-camera talent availability and publish deadlines should be agreed upon and established. Without proper pre production, a video project lacks a clear plan and path of action. The most effective corporate videos are well planned out before a single camera is turned on.
3. Plan Ahead
Video, like all forms of digital content, should be produced with the long game in mind. When setting shoot dates and planning shot lists, plan to capture more footage than you need for the immediate project. Often times, juggling schedules and maneuvering logistics can make video shoots hard to confirm. Because of this, they may not be scheduled very frequently. That is why it is smart to shoot with future projects in mind. Think about the next video you would like to produce:
- Would it be helpful or cost effective to avoid scheduling another video shoot?
- Is it practical to capture the elements you need for several projects at one shoot?
Imagine you are attempting to put together an image film for your company but are considering running a few social media advertisements as well. It would be advantageous to compile a list of all the shots you must capture for the image film and the batch of social media clips and collect them all at once. This will mean less time for you, your staff and your on-camera talent. As you journey into video production, you will find that planning ahead for future productions requires a small amount of effort initially, but the payoff is worth it.
4. Think Long Term
One goal of marketing is finding ways to remain relevant to your potential customers. Often this, can be done by alluding to recent or upcoming events in your content. This strategy is effective, but must be handled cautiously when it involves video. Video requires a lot of time to produce and tends to have a longer shelf life, which means referencing current or upcoming events will shorten the shelf life of the production.
When developing the messaging of your video or considering events to reference, ask yourself:
- Will this be relevant next week?
- Will this be relevant next month?
- Will this be relevant next year?
The marketing landscape is always changing, and there is no guarantee that the strategies you are employing today will be effective next year, but when creating video content, always attempt to extend the longevity of the production.
5. Social Media Marketing
Video savings can happen long after you have produced your video content. Most corporate videos will need to be promoted to the right audience in order to maximize the potential reach of the production. When exploring methods of content promotion, social media should be top on your list. Here are a few platforms that offer cost effective, targeted and trackable promotion:
Utilizing social media to promote your video production can be extremely cost effective because it enables you to develop robust audiences, limiting wasted ad spend and increasing potential ROI. Hopefully, social media is already a large part of your marketing efforts. If not, read about the platforms that are best for your company here.
6. Cheaper Isn't Always Cheaper
The old adage “cheaper isn't always better” might best be said, “cheaper isn't always cheaper.” Video production, like any type of content marketing, should be judged by its ability to achieve a goal. If your company's goal is to increase sales, you should not measure a video by how inexpensive the production was, but how effective it was at achieving the goal.
Cheap video production can be a good solution for some marketing strategies. Previously, we have discussed DIY video projects and the benefit of being able to produce inexpensive video. But cheap video production often lacks essential elements that will further guarantee the video achieves its goal. Elements like:
- Strategic messaging
- Empathy/authority balance
- Customer-centric pain points
- Clear calls-to-action
Without these necessary components, any type of video production is highly unlikely to motivate potential buyers. And videos produced in lue of these, regardless of the cost, will not be worth the time invested in the production. Start with the goal, consider the cost and determine the best solution.
Video production can be expensive, but there are several things you can do as a business owner, marketer or office manager that will decrease the cost and increase the ROI of your next corporate video production. Good luck! And remember:
- Set a budget
- Pre production
- Plan ahead
- Think long term
- Social media promotion
- Cheaper isn't always cheaper
If you're looking for a team that is dedicated to helping you produce a compelling, customer-centric video and to help you with your video marketing plan, give us a call: