Make no mistake – one of the first questions you will hear when you are looking to get a corporate video production done is “what’s your budget?” For some, this question is immediately intimidating and discouraging, but it shouldn’t be!
First of all, any business that is serious about its sustainability in a changing digital market will have a budget set aside for video marketing. In fact, video is now the sixth most popular content marketing tactic, as 70% of B2B marketers use some form of online video with their overall strategies. Investing in web video production can go a long way — definitely longer than a print ad, and in some cases, longer than a TV commercial. Web video can be a powerful way to engage target markets on social media platforms. Online engagement is crucial since the digital revelation is taking us into an environment where we don’t find products, but they find us the consumer, Regardless of whether or not your budget is big or small, take advantage of the money you should be spending anyway to place your brand in the digital arena.
In general, corporate video production budgets vary depending on the objective of the video, on-line vs. broadcast, target audience, running time, creative, locations, talent, production crew, production equipment as well as postproduction to professionally edit and package the video based on delivery specs. On average a professional web video can cost anywhere from $1000 to $5,000 per minute depending on the creative development and production value of the video that needs to be produced. With so many variables at play a good video production company should give options and cost effective solutions to meet budget parameters without compromising quality. It is important to meet with a few different video production companies in Toronto to work out budget options to meet different sales, communications and marketing budgets.
There are many Toronto videography services that will meet you halfway as long as you’re willing to work with them, so be upfront and honest about what your budget will allow. At the same time, it is important not to be too frugal with regards to what you’re willing to spend on your video marketing strategy. It might be confusing to understand the production costs for your ventures once you hear them but they are usually justified to get the job done right. For many production companies, it isn’t all about being compensated for the work they do – it is about having the right amount of funding to execute the video production to the client’s expectation, on time and within budget.
When it comes to paying for web video production, think about where your money is really going. It’s not just going towards a video; it’s going towards strengthening your brands reach, sustaining your business, and it’s presence on the digital frontier. Trends in online video marketing would suggest that having content created with web video production would be the standard in the near future. After all, video is now the sixth most popular content marketing tactic. Make sure you’re up to par with current marketing trends, because you can only get back what you put out.
Above all else, you get what you pay for.