How Much Does Video Production Cost?
If you’re typing “how much does video production cost?” into a search engine, you’re likely looking for hard numbers. I know, I know. There are a lot of articles on this topic. Practically every production company blog has one, and they’re almost universally vague about actual amounts.
I’m not going to give you hard numbers either. But please allow me the opportunity to explain in a way you may not have heard anywhere else.
Two kinds of potential clients
In our experience, there are two kinds of potential clients:
- Video seekers
- Solution seekers
The video seeker is more likely to view video as a commodity, and more likely to be looking for the lowest price. This can be okay, as long as they already have a campaign strategy with a clear goal for what they plan to accomplish with the project. In this case, the buyer already has a script or outline for the video and just needs someone with the know-how to execute it. Corporate marketing departments sometimes fall into this category.
However, more often than not, the video seeker just has a vague notion that they need a video, and hasn’t put much thought into how video can specifically further their goals. If this is your situation, hiring a video production company to make a video for you is likely to be a disappointing experience, since the money you’ll spend (no matter how low of a price you’re able to wrangle) probably won’t help you at all.
The solution seeker knows the business problem they’re trying to solve, and they’re considering video as a possible means to that solution. They’re not thinking about pricing in terms of the commodity of “video production”; they’re thinking about how much it’s worth to solve their problem. This mindset is far more conducive to a successful project.
Be a solution seeker.
You’ll attract a completely different set of video production partners. You’ll consider companies who share your overall vision and understand their role in your mission. Your conversations will be more satisfying and inspiring. In the process, you’ll uncover valuable new ideas. You’ll have a much clearer way to understand whether you’re making the right choice.
Does this video production company get my problem?
If you engage vendors with a video seeker mindset, you’ll be mired in draining conversations about project specs, and you’ll find it difficult to differentiate between the litany of companies who all claim they’ll do a great job. Price will weigh more heavily than it should. You’ll feel unsure when you finally decide.
Conversely, as a solution seeker, you know intuitively when you’re talking to the right vendor. The conversation flows naturally (just as it will throughout the project), and there is no doubt in your mind that you’ve found your solution provider. Price isn’t as important because you know the money you spend will be worth it.
Questions to consider before “how much does video production cost?”
- What am I actually looking to buy; a video or a solution?
- Am I doing this just to “have a video”, or do I have a clear intention for how I’m going to use it?
- Do I have a goal against which to measure the video project’s success?
- How much is it worth to solve my problem?
- Which is a better use of my time; analyzing specs and prices, or looking for a partner to solve my problem?
If you answer these questions honestly and adopt the solution seeker mindset, not only will you end up with an exciting result and a clear understanding of the value of your investment, the entire process of creating your video will be easier and more joyful.
At Concurrent Productions, we’re passionate about solving problems. We want a holistic understanding of your business so we can develop a solution that furthers your goals. Please don’t hesitate to contact us today!