13 Mar Budgeting for your Branded Video Content
Determining the budget for your branded video shoot can be a tricky thing. It’s contingent on so many factors: sophistication of the production, the location, and the extent of the post-production. All of these things can contribute to your budget changing quickly.
“My friend knows a guy (or gal)….”
We all know someone who knows someone who has a video camera and can shoot something for you. Or, you may have just upgraded to a smartphone that also shoots 4k video. So, why the need for a whole production company?
Think about it in terms of cooking at home versus going to a restaurant. It’s cheaper to go to the grocery store and buy the ingredients and cook it yourself. Just like it is cheaper to source and hire a single videographer yourself. But just like cooking at home, you need all the know-how that goes into it. If you don’t know how to use a knife, making dinner will become a much greater task than you intended to take on.
Now, think about having your brand’s audience over for dinner. You’ll need to make a menu, shop for all of the ingredients, cook all of the food, set the table, serve everyone, host everyone, clean up, and ensure that everyone had a flawless experience. Sounds a bit overwhelming, huh?
That’s what it can be like to take on video production on your own. And what happens if you burn the entree? What’s the back-up plan? If it’s starting over, then the money you thought you saved went out the window and you’re left with spending more and working with less time.
How to Determine a Budget
In order to determine the best bang for your buck, your production team (that’s us!) needs to know what you want to make. (Now’s a good time to review that storyboard post we shared!)
Here’s a checklist of the things you should be thinking about for your project:
- What type of video content are you looking for? Is it branded content, a documentary, videos for Instagram or Snapchat, 360 video or something completely different?
- Who is your target audience? This can be as simple as sharing some audience metrics (we are also analytical nerds!)
- How long do you want your video to be? Often we will shoot over the course of a few consecutive days and create content for rollout over several months on various platforms that align with your target audience.
- Do you need multiple deliverables? Maybe your primary need is a 10-minute doc or piece of branded content, but you also need a few additional teasers pulled from them. It’s good for us to know that up front.
- Consider your ideal budget! We don’t want to show you the Rolls Royce with heated leather seats and navigation panel if you can afford a used sedan. We can make almost any budget work, but it is important that you are upfront about what you are comfortable investing.
Binge Watching is OK!
We understand that you may not know the answers to the questions above and that’s A-OK. We recommend that you go on YouTube, Vimeo, Instagram or Facebook and watch a few videos that appeal to you. Once you find them, send them to us with a description on what you like or don’t like about it. We’ll dissect them and be able to come up with an aesthetic and budget that work best for you and more importantly your audience!
Low Budget Does NOT Equal Low Quality
While we understand that everyone dreams of large budgets for video and marketing, we all know that that’s rarely the reality (unless your Coca-Cola, in which case, we’ve got you covered too, Coke!). A small budget doesn’t mean that the end product can’t be great or appropriate for your particular purposes.
We worked with Watson Adventures, an NYC-based scavenger hunt company in creating a short video for their social media showcasing what it’s like to actually be on a scavenger hunt. Watch the Watson Adventures promotional video the Midweek team created.Watson already had scripted video content and wanted something a little different. Midweek Productions developed the idea of using GoPros to create a feeling where the viewer is participating in the scavenger hunts across the country. This approach turned out to be a hit and its simplicity also helped keep the budget where the client needed it.
Want to know more about the best tips on shooting video content for social media? Tune into our April blog on Shooting for Social!