Why Video is an Investment
One of the most frequent situations I find myself in is the dance around discussing the cost of making a video. Many of my clients have never worked with a professional filmmaker before, so they do not have a sense of how the process works, or what it costs. This is understandable, and it can be very daunting. We all know that video is important in our current culture. Fifty-nine percent of executives say they would rather watch a video than read text. Moreover, video viewers retain 95% of what they see in a video, as opposed to 10% when reading it in text. Social media posts featuring videos have 48% more views than those without videos. The numbers are real.
With that in mind, it makes sense to utilize video, and it makes even more sense to have compelling and polished video content whenever possible to tell your story. There is a cost for this, which covers talent, experience, expertise, high-quality video gear, and supporting visual elements to boost the quality of your video(s).
I break down the costs into three categories, Pre-Production, Production, and Post-Production.
Pre-Production is the planning phase where we are working to create the vision for the video, as well as to organize in advance everything that needs to take place to ensure the production will run smoothly. The costs during this period can include location scouting, scriptwriting, and equipment rental. It can also include a video strategy consultation session with me to get clarity on the vision for your business, brand, or organization. This is crucial to spend time on because if there is no clarity of vision for the video project, the result will likely be a product that you are not happy with. This is the time to understand your intent and get clear on what kind of video you want, who your audience is, and what you are really wanting to say. In other words, I want to make this video work for you!
Production is the really fun part. It’s the day (or days) that we all get together and film the meat of the project. This can include sit down interviews, a session with a TelePrompter if we are reading a script to camera, and B Roll shooting (this is gathering additional video at the interview location or elsewhere to help illustrate the story). The costs of Production vary according to how complex and long the shoot is. Costs can include a day rate cost for a director/producer, camera operator(s), assistants, and sometimes a hair/makeup/wardrobe stylist. Additionally, there will be costs for location fees, equipment (video, audio, lighting), and additional fees that accrue during the shoot.
Post-Production is when it all comes together. This period lasts anywhere from 2-10 weeks, depending on the project. Before production begins I am able to estimate how long it will take me to edit the project, and this fee is charged as a day rate. There are several opportunities to invest in other elements for your video project to help tell the story in unique and dynamic ways. One of those is animation. I work with an amazing animator who did the animation for this video. This is another example of animation in an explainer video. Another affordable way to create diverse imagery is to use stock video or stills, as well as motion graphics. And then there’s music — a crucial element in setting the vibe for your video and drawing in your viewer.
The takeaway is this — there are many elements and opportunities to make a really strong video or collection of videos to help share your story and get your message out there to your viewers and clients. It starts with doing the work and taking the time to get ready to create the video, and then adding the necessary elements within your budget to accentuate your video to take it to the next level.