Video Production Budget: Get the biggest bang for your production buck.|Tags: blue truck productions, video marketing, Video production, Video Production Cost, how to create video content
Part One: Time is Money
There is a plethora of research touting the benefits, value and trend toward video marketing. Marketers are churning out online video content at an unprecedented rate.
According to EMarketer, online video was the fastest growing ad format in 2012 with a nearly 55 percent growth rate1. Still, some marketers are struggling to develop quality video content, stating time and cost as the most common barriers.
It is true that writing, shooting and editing quality video programming requires a lot of time, but the effort pays off. According to MediaPost, 57 percent of consumers say that product videos make them more confident in a purchase and less likely to return an item2. So producing video content can be time and money well spent. But here’s the caveat: Be mindful of how you approach production–or you risk wasting both.
In effort to save money, companies often attempt to take production into their own hands, only to be frustrated with the results, or—more likely—lack of results. Unless there is a dedicated, in-house production team or at least a project manager with production expertise, the clock may tick ever so slowly and often the end product suffers.
The good news is there’s an easy solution that will get your project done in a timely manner. Hire a professional.
Production is truly an area where outsourcing to an expert pays dividends. Besides freeing you up to conquer other tasks, hiring an outside contractor provides a fresh perspective and an objective eye on your products and services.
As an independent producer with full-service production capabilities, I travel all over the world to help corporations produce broadcast-quality programming, often becoming an integral part of their marketing team. I have worked with some clients for well over a decade. Why? My clients say they enjoy working with our team because they can trust us to work in autonomy to delivery a turn-key product on time and within budget.
They’ve discovered through trial and error that they really can’t achieve the same quality results faster, better or cheaper on their own (or through their agency of record, which typically outsources production and marks it up at cost plus a hefty agency charge).
So what’s the best approach to procure a high-quality, well-produced, cost-effective production with added value? A good way to start is by talking to an independent producer – whether it’s me or someone else – about your needs, budget and timeline.
An independent producer, can help you determine your production needs, then work with you to meet your budget and timeline—delivering a high-quality finished product for your company. And with careful planning, can help you save on future project costs—bringing added value to your company.
With a pipeline of fresh video content, your company’s investment in production will pay dividends to your bottom line.
Next Month: Part Two, “The Lean Production Philosophy.”
About the Author:
Kristin A. Kauffmann is an award-winning writer and executive producer with more than 20-years of experience in script-to-air television production and is the president of Blue Truck® Media, Inc. Blue Truck specializes in the writing and creative development of original screenplays, television programming and books, and offers customized marketing and video production services to corporations, worldwide.