UNDERSTANDING THE COST OF YOUR VIDEO INVESTMENT.
Here are a few things to consider when planning your budget for your next video project.
The script serves as the blueprint to your video. It is essentially what communicates the value of your brand to your audience. Script writing can be billed hourly or at a flat rate, depending on the need of the client. If multiple drafts or revisions are required, additional costs may be incurred.
Story boarding is recommended but not always required for a video shoot. Costs for story boarding will vary depending on how detailed you need it to be. Will a quick sketch be sufficient or do we need to bring an artist to the table to add full detail to your vision?
You may need to make difficult decisions about who should represent your company. In a commercial, quite often it is not someone in your company. Even in a corporate video you may decide that hiring outside talent is the best decision. The cost of talent depends on many variables such as experience and time required on set.
Project management is critical to having a successful project. Tasks such as scheduling, administrative duties, and dealing with all the little nuisances that may arise during production is all part of the process. This cost may vary depending upon the complexity of your video project.
Equipment is necessary for all video shoots. Depending upon your delivery need, the cost of different camera packages may vary. Typically, most videos are designed for the web, however there are occasions that delivery may be for television. Video productions that require special lighting or camera equipment, may have additional costs.
Sometimes it is impossible to capture B-roll footage the same day as production. Sometimes, another shoot may need to be scheduled just to capture additional B-roll footage, therefore increasing the cost. B-roll footage is important because it keeps the viewer engaged.
Editing your video is a large task and costs can quickly add up. Videos involving complex motion graphics can be costly. Editing is typically billed hourly, so proper planning is essential to managing costs.
FORMAT, DELIVERY AND EXPORTING
How many different formats does your video have to be rendered in? Where is it going to be seen? Do you need a short version (editing down) and a long version? What are your delivery specifications? Rendering and exporting footage can sometimes result in additional costs. Longer HD videos may require more time and resources to render and/or compress.
Location is one of the most single important factors in filming your video. Typically we will shoot at your place of business, but there are times that a more alluring location is necessary. Location fees can be expensive, so proper planning and budgeting is necessary. Be prepared to leave a deposit when securing locations.
Crew is not optional. While at times, one person may be adequate for a small video production, typically a minimum of two crew members are required to work effectively. The quality of your video may suffer if adequate help is not available. Remember, the more complex your video, the more hands on deck.
How long will it take to shoot your video? Are there multiple locations that require multiple break downs and setups? How long will each scene/interview/shot take? Billable hours can add up quickly if time is not managed properly. With good planning you can do a lot within a specific period of time and save money. The most important factor is the total amount of time required for production.
STOCK FOOTAGE, MUSIC, AND RIGHTS
Do you require supplemental footage or images to support the video. Do you need that perfect song playing in the background of your video? Purchasing stock footage, music, and the rights to use them can become pricey if not managed effectively. It's a small price to pay now, rather than be sued for using music or footage that you do not have the proper usage rights for.
NARRATION AND VOICE OVER
Do you need a voice-over to tell your story or to tie the video together. Video is a powerful medium but it is even more powerful if you take full advantage of the full audio experience. Voice actors prices vary, depending on their experience and skill set.
FEES AND OTHER INCIDENTALS
Be prepared for expenses such as permits, props, or even catering for your talent. Proper planning during pre--production can save you money. Unforeseen issues sometimes arise and having a few extra dollars tucked away in the budget will relieve those sudden headaches.