Setting video budgets
Getting value from video budgets
How do you maximise value from video budgets?
There are many variables that impact your video production budgets, so we’ll look at a selection of them here.
Where to invest or make savings
To get the best results from your video budgets there are two areas to think about:
- What is actually enhancing the end product?
- What is improving the production process?
- Resource Skill-sets
Most production agencies rely on freelance resource to some extent. However, this is great for clients, because it means that teams can be built with people who have the right skills and experience for the job.
Where the creative and aesthetic standard needs to be high, a bigger team will bring a wider variety of skills. For a complex shoot, a bigger team will keep it running smoothly, so the most expensive talent are used productively.
If you have people in your videos, there are a number of variables that influence video budgets. To keep costs right down, use people from your own teams. This can work well and be a central part of your strategy if you want to show the human aspect of your business. (Currys PC World regularly use their own people in their shoots.).
When people are secondary to the main action, you can use extra models and actors who are a perfect fit for this.
Professional models and actors will be needed for central roles, and you’ll get a more reliable result during the shoot.
Music is an important feature of many videos. You don’t have to use any soundtracks at all, but many advertisers incorporate music. The most economic route is to buy stock music. Commissioning bespoke soundtracks is expensive, but remember this can help you build a sonic identity. This is great addition to your productions when video is one of the main ways you communicate with your audiences, especially if it’s something you intend to do frequently. (For more information about sonic branding have a look at Deftear.com, who are one of the specialist teams we work with at Soap) .
The location you use has a big impact on the video budgets. Besides the fact that many locations will charge, you also have to factor in the logistics of getting the team and the equipment to the location.
Increasingly, clients want to get as many assets out of a shoot as possible. This is because they want extra stills and footage for social media and marketing activity. This will generally come with extra cost however, but by planning this in beforehand, you’ll get a lot more from your shoot.
The variation of equipment needed will influence costs. The art direction and effects you are trying to achieve will determine what you need, as well any demands from the location or environment we are shooting in.
Setting the right video budgets
You can get great quality and effective content for any budget level, as long as it is well planned and fit for purpose.
Key questions to ask to help you decide on the right budget levels are:
- What KPIs does the video need to achieve?
- Where does it sit in the customer journey?
- What channel is it for?
- What’s its expected lifespan?
Your agency should be happy to work with you to help you understand the right approach and explain clearly what skills and equipment you need.
If you’ve got a video project you’d like us to quote on, please contact: firstname.lastname@example.org