I was meeting with a client this week who was in the process of getting bids for a short video project for his technology based business. I was shocked to hear some of the price quotes he received. One production firm quoted him nearly $30,000 for a 2-3 minute video. What I am about to say may disturb our competitors but video is a valuable asset. But not $30,000 valuable.
You can get a quality custom video produced for less than buying a 1/8 page ad in a local newspaper. With that said- the more money you spend on the video the better it will look. But you are not shooting a Hollywood film. On the other hand you don't want your video shot with your friend's camcorder.
Companies with dwindling marketing budgets understand the need for quality video but cannot spend vast amounts of money unless they are guaranteed their return on investment. Here are a few tips to consider when choosing a video production company.
1) Know your audience. The first question we ask clients is who will be watching the video. Potential customers? Investors? Employees? Make sure you develop a video that speaks to your target audience. This way you avoid mixed messages and stay focused on what you are trying to say.
2) Size DOES matter. A 3 minute video will cost a lot more than a 30-second video. Make sure you determine what length is appropriate for your target goals. Keep in mind when it comes to online video, 3 minutes is a very long time. Many companies can get their point across in a short 1 minute company introduction video
3) Time is money. Most video producers are on a time based rate structure. At the very least you will pay for the on-site video shooting and editing time. But after that, the more bells and whistles you have in a video, the higher the cost. Professional narration, fancy graphics, 3D animation or custom music can quickly run up a higher bill. For instance, a 5 second animated open could take 8 hours or more to produce which could easily add and extra thousand dollars to a video. However, that animation may be worth it in the long run because you'll be able to use that animation in future videos. Take some time to discuss with your producer what of these elements will be used for the video and how much extra those elements are costing.
If you are shopping around for video production, need advice or want a quote on a video please contact me:
Dawn O'Connell
Executive Producer|Focus Media Services
651-330-4549
dawnoconnell@focusmediaservices.com
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