Assessing and Maximising Your Video Budget
It can be a deer in the headlights moment whenever the subject of budget comes up in conversation but don’t panic; it doesn’t mean what you think it does.
I know what it’s like to run a business, and I understand that keeping your finances in order is a top priority. This is why I understand why people freeze up when budget gets brought up. I know the sense of panic you’re feeling and I want to put your minds at rest; when you’re asked about your budget, it’s not an assessment to see how much money we can get out of you. Your budget covers so much more than what we do and below are the kinds of things that need to be factored into any budget assessment.
1. Our services
It seems like this is probably a no brainer but it’s worth talking about because sometimes it’s hard to understand exactly what goes into a project.
We’ve trained for many years to make sure that we’re the best at our jobs. Whilst things like smart phones are making it easier and easier to produce a video, it’s still just as a hard to make a great video. True there are some people that can make a master piece on an iPhone, but it takes a lot of time and effort, and with hiring someone like Broken Physics Productions that pressure is completely taken off of you. What that does mean though, is that everything falls on us. We put a huge amount of time and effort into every project that we do because we want to produce something that you love. Think of it this way; we don’t turn up, film and then have an instant product; there’s a long chain of events that leads to your finished product.
Even with something that might seem simple like an event coverage video, there is a mountain of planning and paperwork. We have to know exactly what’s going on, when it’s taking place and who will be there. We need to know if we need to record sound, whether your looking for vox pops and where we can stand. Now imagine that we’re shooting a documentary or a promotional video; something that can span over many days, with lots of personnel, actors and different scenes. Not only that, but we make sure that we factor in your audience; we create a package that gives you the right video that’s reaching the right people. That’s just the pre-production.
Then you have to factor in our shooting days. We work anywhere from 1 to sometimes 15 days; days where we can’t do anything else. Our time is valuable and so you’re paying for undivided attention but more than that, you’re paying for our hard work. We don’t take shooting days lightly, we’re full on so that we get the best results. If we’re needed for 12 hours, then we’re there for 12 hours and we give 100% for each of them.
Finally there’s the editing stage. We love editing; up to a point. We make sure that we edit for long periods at a time so that you get a fantastic product and you get it quickly. Especially with something like an event video or a documentary, there can be hours of time just spent finding the right footage. It’s easy to forget that there’s a whole other process after the shoot day, but it’s one of the most time consuming and important parts of production. When you pay for editing, you’re paying for our non-stop dedication to editing your project.
Whilst it may seem strange to account for our equipment, it actually makes a lot of sense when broken down properly. Our services and our equipment come as a package and it makes up a massive part of what we do. We simply can’t work without it and you can’t have your video without it either.
I always put it to people like this; if you were looking to make a film yourself then you would probably have to hire equipment yourself. In this situation you would see the inherent value to equipment and so hiring a video production company like ourselves should be a fairly similar experience. The equipment we own is of a very high quality and to an extent you’re paying for that because it guarantees a higher quality of video for your business or service.
A lot of time an effort has gone into accumulating gear that we know is going to be perfect for every project. As a company, we know our products off by heart and we’ve made sure that we have a piece of equipment for practically every request a customer could make of us. Whether you’re looking for something complex like a promotional film or a documentary, or whether your looking for something simple like an event film or a testimonial, our equipment is up to the task. This is why the equipment we own should be factored into your budget, but what about equipment that we don’t own?
Although we have a mountain of specialised filming equipment, on rare occasions there may be a need to hire something. If you want a specific specialised piece of equipment for a project, then we will of course we’re happy to hire something, but if we don’t know your budget then it gets tricky. You have to be able to afford the gear we’re looking to hire and if you can’t then we need to be looking at alternatives; something we can’t do without a budget.
3. Expenses incurred by the production.
One of the most important factors that need to be considered are the expenses that your production may incur. Whilst you may not need all or even very many of the following, there are worth taking into account anyway. What we usually put forward as things to consider are:
- Complex graphics
- Music copyright
- Location hire
You may not need many of these, but we need to know exactly how much you have to spend on them so that we can best advise you. There’s always an alternative, but if we’re to give you the best advice in order to boost the quality of your project then we must know what you have to spend.
So what do I mean when I ask, “What is your budget?” Well, put simply, I’m asking how much money you have to invest in the project that you’re proposing. Video really is an investment, and I always advise that you put as much money in as you can, but not for me, but for your business or service. What I don’t mean is, “How much can money can I put in my pocket?” When I get involved in a project, even if it’s as simple as event coverage, I want you to have the very best end product possible.