When corporate companies are looking to set aside a video budget, there are several important factors to consider in order to ensure a successful and effective video production. Here are some key things to consider:
Video Type and Style
Clearly define the goals and objectives of the video. Is it meant to promote a product, explain a concept, or create brand awareness? Then decide on the type of video that suits your goals, such as promotional videos, testimonials, training videos, etc. The style you choose (for example, animation or documentary) will impact production costs.
Quality and Professionalism
Determine the level of quality and professionalism required. Higher quality often demands more resources, but it can leave a stronger impression. Using a professional video team often comes with expertise and good-quality equipment that can enhance the overall quality of the video.
Scripting and Storyboarding
Plan the video’s structure, scenes, and dialogue in advance through scripting and storyboarding. This can help manage costs by reducing reshoots and revisions later in the edit.
Casting and Talents
Hiring talent can impact costs. Determine whether you should use professional actors, voice-over talents, or employees who will be featured in the video. Do note that while professional actors may cost more initially, they are trained with experience to get the scene right with fewer camera takes, and as a result, the shoot may be more efficient, saving you money at the end of the day.
Equipment and Technology
Yes, that drone shot showcasing the whole building while flying through the clouds might be beautiful. But do keep in mind that cutting-edge technology might yield higher quality but could also increase costs.
Contingency Plan
Leave room in the budget for unexpected costs that may arise during production, such as reshoots, bad weather, or additional equipment requirements.
Longevity
Consider whether the video is a one-time use or part of a long-term campaign. Investing in a video with lasting value might justify a higher budget.
By carefully considering these factors and balancing your company’s goals with the available resources, you can create a video budget that maximises the impact of your video production efforts. To find out more about our videography services and how our team may assist you on creating your video budget today, click on the link below.
