Many businesses in the city are looking for reliable video production Toronto services to boost their performance in a highly competitive market. With a population of over 2.7 million residents and many more annual visitors, this happens to be the most populous city in Canada.
It is no wonder local and international brands are deploying this unique marketing technique to get noticed. However, the issue of the cost will always come up and this is the main reason to understand how to budget your video project.
There are many reasons to invest in corporate video production Toronto. This is the most versatile form of business communication that can be used in marketing, promotion, entertainment and many other internal and external communication purposes.
According to research,87% of online marketers are leveraging video marketing as a strategic tool. A survey of marketing strategists from across the globe has also found that video production Toronto is a tool with the best ROI. It is easier for your visual to go viral, as it is easily sharable and this is the one major reason most companies in the city are using VCM Interactive for professional visuals.
Building a Production Budget
Now that you have decided to go ahead with a video project, it is advisable to come up with a well thought-out production budget. This enables your team to meet the project’s objectives within the agreed timeframe. With a costing plan in place, it is also easier to come up with a high quality final product that will meet your company’s goals. Below are some of the important factors when budgeting for the project:
- Consider the scope: Make sure you have an idea of the scope of the production. This will mostly depend on the size of your local business, purpose, availability of skills, resources, services required including script writing among others. Ask yourself this; what type, scope, length, deliverables, and timeline for delivery?
- Preparation costs: This will include story-boarding, script writing, auditioning and hiring actors.
- Actual shooting costs: This is where the largest percentage of the cost will go and it includes crew hire, studio hire, travel, hospitality, equipment hire among others. At VCM Interactive, we give you a comprehensive package that covers all these requirements. If you need tailored services, these are also available.
- Editing: This is an important aspect of the project, which should never be overlooked. Consider the cost of an editing suite and software, personnel, graphics and animations, voice over, sub-title creation, DVDs, tapes and other storage media.
There are many other costs that are involved in creation of a high quality product including permit fees, support teams, Toronto location fees and unforeseen contingencies.
While many companies are quick to come up with good looking budgets, most of them don’t stick to the plan. This leads to over expenditure, poor visuals, lack of cohesion among a host of other issues. For this reason, you need to engage one of our experts at VCM Interactive to help you draft the best costing plan to follow for your corporate video production Toronto.
Creating a budget for video in Toronto is as important as the script, without either you don’t have a video. However, if you would like to explore video production with proper budgeting and script development for your next video project Contact VCM Interactive.