Have you ever received a quote for your video and been surprised at the price?
If you’ve not worked with a video production company, or even if this is your hundredth time, it’s not uncommon to come across a quote that might surprise you. This is because there is no standardised pricing for video production, as each video that we make has different requirements – as unique as the business that requests it – which means it needs a custom approach. Furthermore, the making of video content requires a lot of steps – it takes a lot of work to make even just 30 seconds look good.
So it’s important that you get an estimate of the cost based on your own specific needs. And even if it’s a bit higher than you expected, there are a couple of things you can do to ride the quote-shock wave. Before you pull out your iPhone to do it yourself, here’s some advice on what to do next:
Ask for a breakdown of the quote
What you think is the ‘whole video’ is actually a series of involved steps, products, people, and processes that you may not see – for example, the music license may be the most costly item for your animation. Maybe Taylor Swift’s ‘Shake it Off’ could be swapped for a different track?
Even if you don’t end up swapping or changing anything at all, we know that seeing this breakdown will give you a clearer picture of what’s involved in the video production process. You’re looking at hiring a creative partner that understands what your business is offering, so it’s important to start the relationship knowing how you’ll work together and what that work involves.
Remember you’re making an investment
Putting your brand out there with quality content is worth every penny. The dollar value might seem less significant when you start seeing your return on investment (whether it’s website traffic, sign ups or staff engagement). This is money you plan on getting back. Ask your production company for some case studies of work they have done before.
Keep your communication open
Talk with your video producer. If you’re new to outsourcing your video production, it can be a whole new world. And your video producer is there to help you – to answer any questions or to talk through any concerns you have. Open communication during the quoting process is essential to a successful project and production partnership.
Open communication can also look like saying ‘We can’t afford this right now’. Giving your video production company feedback on your experience with their quoting process, or reasons as to why you will not proceed, are not required – but it is incredibly helpful for them to understand their customers’ experience.
Get quotes before you set a budget
If you don’t have experience in pricing videos, try not to commit to a set-in-stone budget, or say to your bosses that you will deliver a video for under ‘X’ amount. Instead, arm yourself with information! We recommend that you first scope out your video needs (what style, how long you need, where it will be used, etc.), and then get three to four quotes from video production companies before you even suggest a budget range to your team. This will help you get an understanding of the price range you’ll be working with, and give you the information you need to adjust your video to your budget, or vice versa.