The Cost Involved with Video and What You Are ACTUALLY Paying For.
Anyone considering video for their business will have this question on their mind from the jump. How much do I need to spend? How much should I spend? What is too little? What is too much? Can I just do this myself with an iPhone? As usual, the answer is it depends.
If you contacted 10 different production companies with the same brief you would most likely get 10 different prices quoted back to you. Do you just go with the cheapest one to save money or with most expensive as they must be the best, right? The question shouldn’t be ‘how much is this going to cost me’? It should be ‘how much am I prepared to spend to get the quality my product/service deserves?’ If the vast majority of your business is conducted online then your video is, effectively, your shop front along with your website. This needs to make the right impression which means if you do decide to opt for video (and you absolutely should) it needs to reflect your business in the best light. Quite literally and I’ll come to that in a minute.
When we first speak with our clients, one of the first things we need to establish is the level of production value the project will need. We might say to the client something like: ‘OK so, on a scale of 1 to 10 with 10 being ‘This needs to be fit for TV and win awards’ and 1 being ‘I just want to get this made as cheap as possible’ where do you sit?’ Generally speaking, if they say 4 or lower then we probably aren’t right for them as most of the projects we undertake are concept pieces that will require time, planning, high-level equipment and our best crew. If they answer 1 then, in my opinion, they’re better off not having video at all as bad video can do irreversible damage to a brand and can very quickly deplete consumer trust. If they answer 5 then that says to me that they care about their business, appreciate good quality, understand that high-quality video is a necessary expense but, they still want a good deal. This is something we can work with.
At this point in the conversation, we would usually bring up the budget. This is usually met with a long pause and a response that goes something like ‘err I was hoping you could tell me what this costs’ Now, I understand the trepidation here. Everyone thinks that whatever they say is what they are going to be charged and there is always a chance we might say a lower number so why turn the cards over first? There are three points I’d like to make on this:
Firstly, we need to look at the question again. ‘How much am I prepared to spend to get this to the quality it needs to be?' If you’re not prepared to spend £5,000 then don’t say £5,000. We don’t ask this question with the view of charging whatever you say. We ask it to get an idea of what production value can be achieved for the figure you have in mind and if your expectations are realistic as very often they are not.
Secondly, the budget and the quote are two entirely different things. In truth, your project might not need £5,000 to be achieved. It could be that it can be done for £3,500. You may be wondering why we would potentially talk ourselves out of £1,500 in this sicario but, from our perspective, which is better? A client that gets an amazing video under budget that walks away happy and tells everyone about us or a client that walks away overcharged and undervalued that may or may not recommend us to their friends/colleagues?
Finally, and this is the most challenging factor, at this point we usually don’t know what the project is going to look like and what will be required so we don’t really have a basis to go on. If we know you’re prepared to spend a certain amount that will give us the freedom to suggest things such as locations, specialised equipment, talent, after effects and so on. You can always veto these things later but it helps if we have a starting point.
But why is some video more expensive than others? There are obviously multiple factors at play here but ultimately it comes down to the quality. What is quality? It breaks down into two parts, in my opinion. You have the subjective quality which raises questions like ‘Is the acting good?’ ‘Are the colours nice?’ ‘Does it get the point across?’, ‘Have they used the right music”? Basically, anything that is a matter of opinion. The fact that there are several answers to these questions does not make them vacuous. It’s like asking ‘what is good food?’ Lots of things. It depends on what you like. Then you have the objective quality which raises questions such as ‘Is the subject lit properly’, “Is everything in focus’, ‘Can I hear what is being said?’ These are obviously all technical questions and only have one answer. The difference between a video with good sound and bad sound is the same distinction between food and poison and is about as clear and consequential as it gets.
The single biggest factor that we need to take into account when putting a project together is Old Father Time. Yes, having great camera/lighting equipment can help with getting better results but it's certainly not the governing factor. Any video “professional” that tells you they can get the best results simply because they have the best camera is like a chef saying they can cook you the best meal because he/she has the best oven.
The reason Hollywood movies look so good is not just because they are using $350,000 cameras but because they also have plenty of time to get the shots perfect. Films of this level work at a pace that is glacial are lucky to can around 30sec to 1min per day. It’s like pushing a pea up Mount Everest with your nose. Throughout the whole working day, the camera is only switched on less than 3% of the time. The rest is setting up and getting the lighting right.
Obviously, our projects are not at this level but the rule of time still applies. If you want the video to have high production value then it simply cannot be rushed. Remember what I said about lighting? Well, this can be very time consuming on set. Next time you watch a good marketing video or indeed your favourite TV show, remember that every time the camera angle changes that is a new set-up with lights being moved etc. Getting the light perfect on a shot can be a lengthy process and is the biggest eater-upper of time. However, when done right the results are incredible. You then have to factor in the time it takes to move from one location to another, how much time you have that location for, how long you have the crew. See a recurring theme?
So, if you’re considering video for your business, think about where you are on that scale and what you are prepared to spend to get the project to the quality it needs to be. All consultations with Strategic Visual are free and we’d love to speak with you!
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