How to Save Money on Video Production
Video streaming has increased significantly over the years, with twitch reporting more than 13 Million average monthly screening hours between 2012 and 2017. So for marketers, video presents the opportunity to secure their audiences with engaging video content. But producing video can often be a costly affair and budgets may vary based on several factors - length, style, usage, pre-production requirements, location rental, licenses, number of crew required on set, special effects etc,.
Here are some top tips to help you cut costs when securing a video production partner:
KNOW YOUR BUDGET
Knowing how much you can or cannot spend will be a big deciding factor in your search for a video production partner. And, depending on your brand and your audience, you may not need a glossy, commercial piece. Consider what the video will be used for (training, information, social media, TV, email embeds) and determine how long you’d like it to be. Depending on the type of video you need and its purpose, you may also want to consider setting aside a portion of the budget for marketing and promoting the video piece once complete. Be 100% certain of what your video needs to include. Changing plans in the middle of production is going to be costly so knowing ahead of time what you need, will save you on extra costs.
Licenses are expensive and often only allow single use. Video assets such as images, music and sound effects, can cost a pretty penny. Consider using royalty-free options and avoid ‘top of the charts’ tunes and paid stock. Original photography and video footage will give you the best bang for your buck and will create a feeling of authenticity. Avoid creating original music as working with local artists can really rack up the numbers.
CHOOSE YOUR LOCATION CAREFULLY
Off-site shoot locations and studios can sometimes leave a gaping hole in your pocket. To save on location costs, consider filming in your own space, or that of a friend or family member. If your office is in good shape, depending on what your video is, that might be an option. Shooting outdoors is also considerably cheaper than in a studio, but be wary that there me be some costs involved for larger productions where public liability comes in to play.
Another great alternative is to rent a conference room space, cleaned out barn or warehouse. These can easily be converted into shooting spaces with the right lighting and sound equipment.
COORDINATE ON SET
Typically, your production partner will have a Runner on set who takes care of providing breakfast/ lunch, snacks, on set. These costs are typically accounted for in the budget they quote, based on the number of hours they anticipate filming will take. Providing lunch, snacks and beverages, and being the hands on-site to coordinate this on the day, will save you the cost of a Runner.
The above tips will come in handy, but be sure to select a video production partner who is able to deliver quality when compromising on costs. While money savings are necessary, ensuring the end product will appeal to your target market is essential. A bad video will hurt you more than it will help you. Your video production partner will be able to provide you with guidance and suggestions to ensure your money is well spent.