|Preparing a budget for a video production.|
To the client, it seems like a Catch-22, how do they know what the video contain without a production company developing the idea first.
On larger productions this may be the case. The development has its own budget and the estimate for the production is based on the concept coming out of the development stage. But for most corporate videos, all stages of the production fall under a single estimate.
A lot of corporate clients feel as though they are shopping for a car, and refuse to reveal their budget beforehand out of fear that the production company will use the entire budget unnecessarily. The analogy they should be using is that of building a house. It's almost like going to a house builder and saying, I want you to build me a one story house, how much will that cost. You can bet anything the builder will ask "how much do you want to spend?"
There are many variables that determine how much a video will cost. Many questions need to be answered before a budget can be developed. Years ago, I worked with a client who, in the pre-production stages said to me and the creative team, "I can't tell you what I want, but I can tell you what I don't want once I see it." Some times clients do not understand that if they do their homework beforehand, the video production will be a whole lot cheaper in the long run. Making revisions after the video has been produced is a lot more expensive than making revisions on paper.
The best way to prepare a budget for a video is to fully understand what the client expects. As a video producer, it is your job to do everything you can to understand the client expectations and accurately communicate your understanding back to the client. Clear communication and understanding is key.
what are you saying?ReplyDelete
I'm saying that in order to prepare an accurate budget, you must understand the client needs entirely. Being able to accurately communicate your understanding of their needs will eliminate misunderstandings going forward.Delete
In video production what matters most is the quality of the videos and how it will communicate to the viewers and it would be sure best sellers.ReplyDelete
Andrew, that is very true, but when maintaining a client relationship in video production, clear communication with that client throughout the process is what matters most.Delete
I think you should give that business a metal for having, at least a clue, that a professionally produced video would greatly benefit them in this day and age where video is king of the marketing hill.ReplyDelete
It's interesting to see how different video production professionals handle cost. I just read a post tonight about "Why music videos DON'T cost $500". It was pretty humorous but definitely hit a soft spot because we continuously get similar calls. Just today in fact someone inquired about a music video. They were looking for a shoot time of 6-8 hours in a speed boat or a restaurant? I'm going to be talking to them tomorrow, I'm interested to see what kind of budget they had in mind to get a speedboat or restaurant for this video, excluding the actual cost of the video.ReplyDelete