Lots of things can impact your video production budget, including the number of crew members required.
Your budget is an important part of any business decision. Maybe it's human nature to flip to the back page of a proposal to see what something really costs. I understand that response, because I do it too. That’s why people often ask me, “How much should my video budget be?” While I understand the need to have that question answered, a better question about budgeting for video production is, “How much does it cost to meet my objectives and create positive ROI with video?” Unfortunately though, the answer to the second question is the same as the answer to the first: It depends. But don’t you at least feel better that you’re asking smarter questions?
The good news here is that the size of your piggy bank isn’t the only thing that matters when it comes to getting the most out of your video budget. So for budgets of all size, there are some things you can do to get a lot of bang for your buck. It starts with planning.
What are you trying to accomplish?
You can’t really have a video budget conversation until you can talk about your objectives. I encourage you to think long and hard about your business objectives before selecting video marketing as the way to get to where you’re going. If, in that process, you determine that video should be part of your communication strategy, make sure you can articulate why that is. Once you can answer the “Why” question, then you can move on to thinking about how to get it done. And now, we’re finally talking about budget.
It helps if you think of a marketing video as a campaign rather than an event. It’s an ongoing affair where you can engage your audience all along the process, not just at the end when you’ve got a finished product that you’re excited to show off. Here are a few things you can do to maximize your efforts:
Is doing it yourself best for your video budget?
Making marketing videos yourself can be a lot of fun, and there are some good reasons to do it this way. If you’re thinking about going down this path, be as confident as possible that you’re prepared to commit to it. People often think that this is the cheaper way to go, which can be true, but it can also cost you a lot of time and ultimately more money than hiring a professional if you have challenges. Here are a few things to think about when budgeting for a DIY video production strategy:
Don’t forget that the tips for maximizing audience touch points apply when you’re making your own videos, too.
I’ve always been an advocate for using a combination of these approaches. A video production professional can help you to create polished pieces for sales material, forward facing website content, or anything else that requires a skill or equipment that you don’t have easily available to you. Creating your own content is perfect for putting a personal face on your brand or taking advantage of time-sensitive communication opportunities. Whichever way you choose, if you want to maximize your video budget and the impact you can have with your messaging, invest the time required to create a video strategy that speaks to your target audience.
Do you need help creating a video strategy? That’s where Spotted Yeti Media can help. Contact us today to setup a meeting. We’ll help you discover where and how video fits most appropriately within your current marketing plan.
Topics: Video Tips
At Spotted Yeti Media, we are strategy-driven creatives who help your audience discover and connect with your story through video. Whether your goal is to motivate people to purchase your products, to buy into your message, or engage with your passion, we have the tools and talent to tell your story both professionally and effectively.