I was reading a fascinating article in the Drum this week, Coca Cola, one of the worlds biggest brands, stated that they had seen such significant success in the use for short form video to help promote their campaigns on social platforms, they want to DOUBLE their efforts this year.
to read the full article click here:
This raised an interesting question for us.
This is the big one for most businesses. It is the main decision maker in all manner of business enterprise. Video content has long been seen as a luxury only afforded to those companies that had the requirement of Television adverts and so was both expensive and not applicable to most businesses. Times have changed. The rise of social media has meant that people have to work that much harder to be seen on the web. Video is no longer a luxury that you can live without, its now a necessity that you can’t afford to be without. But what should it cost?
Video doesn’t have to be expensive. There are many factors that will dictate the budget for online video, creative, duration, location(s), use of actors, and quality will all have an effect on any budget. Unfortunately unless the brief is tight, generally there is a ‘how long is a piece of string’ element to budgets. To get the most accurate quote it is important to have a price in mind that will achieve the quality you need and don’t be shy about it. If your honest about your budget from the offset, you will save yourself a lot of time when getting quotes. Giving examples of videos, and animations that you like can often serve as a good benchmark for production companies.
BE REALISTIC. If you want a quality product you will have to spend some money on it, its a basic rule, but if you go cheap you will get a cheap product. I am not saying blow your marketing budget, but video should cost money, done well its an art form.
So how much? Its all driven by your requirements as you say, our costs start around £2000.00 for a 30 – 60 second corporate and from there it goes up dependent on what the project is. If you want to make a number of films, shoot in bulk, it will save you time and money.
2. My product/business isn’t interesting enough?
This is one of the most common responses we get. Seems crazy but people are genuinely unsure as to whether their company or product is interesting enough. Think of it like this, If you have customers and you want more, and you know you have a market for your business…your interesting enough. Its that simple. The secret, Its all down to the story you tell. And everyone has a story. In a recent article in the Harvard Business Review, they look at people’s reaction to story.
“Storytelling evokes a strong neurological response. Neuroeconomist Paul Zak’s research indicates that our brains produce the stress hormone cortisol during the tense moments in a story, which allows us to focus, while the cute factor of the animals releases oxytocin, the feel-good chemical that promotes connection and empathy. Other neurological research tells us that a happy ending to a story triggers the limbic system, our brain’s reward centre, to release dopamine which makes us feel more hopeful and optimistic.”
If your passionate about your business or product, there is a story to tell and an audience to hear it.
Is it going to take up a lot of my time? in a nutshell, its up to you. We have had clients that want to be deeply involved in the process, helping to come up with creative and scripts all the way through to sitting through an edit. Alternatively you may wish to have limited involvement trusting the production company to interpret your ideas and vision. It comes down to what you are spending on the project, a good production company will help you through the process and only refer to you when they need your opinion, with a bad production company you will have to lead them by the nose to get the outcome you want. In the end, you get out what you put in. Ideally you should approach the project in an open and creative way that way you will hopefully meet your expectations.
These are just some of the many reasons we have heard when people are nervous about using video to promote themselves. They are all valid but if your not sure, your probably not ready however with nine out of 10 brands planning to increase their spending on online video this year, with 31 per cent indicating that they will take money out of their TV broadcast budget to do so the one thing you don’t want to be, is left behind.
What we want you to take away from this is that ultimately if you do decide to do a video for your business you wont regret it, but go for quality over cost, and if the cost is too high look carefully at what you are trying to achieve with the video to see whether its worth stretching the budget or waiting for when you can afford it.
Online Video is a major part of every brand now, think on this, if a picture is worth a thousand words, what is the value of 25 frames per second.
“There are no rules in filmmaking only sins, and the cardinal sin is dullness” Frank Capra.
Glued Films .