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Video Production Costs - How To Figure Them Out?
by oluwafemi-smith Mar 31, 2023 Views (402)

Many people love the sight of happiness; for some, it comes in clothes or bags, and for others, it's just a video production that was thoroughly done by a Corporate Video Production Company. The question that is faintly asked remains, what is the price of happiness?

Video production as a thing, especially in an era where business brands and entities seek haven in creating newer corporate videos to send a message to their audience, remains a viable business for every Corporate Video Production Company out there. 

The Corporate Video Production Company is laden with the responsibility to create, strategize, and address the message of the client. However, with the varying corporate videos that a Corporate Video Production Company could create, there are varying prices for the choice of happiness one could seek from a Corporate Video Production Company.

In this post, I will share with you what most people dread in a Corporate Video Production Company, and address how to figure out your possible video production costs as a brand or even a Corporate Video Production Company.

 

Introduction

In a Corporate Video Production Company, one of the things frequently encountered is the delay in providing a quote for the corporate video. The client is quick to spell out what type of video they want and the purpose of creating the corporate video. 

However, while the Corporate Video Production Company provides a price, often than none, the client creates a unique package that picks on other packages, hence giving the Corporate Video Production Company another task to review the client’s request and come up with the costing.

One could analyze how best video production costs as a client and a Corporate Video Production Company, by understanding the terms and steps below.

 

What Does A Video Production Cost Entail?

Video production is all that entails the process of shooting a video from the pre-production stage down to the postproduction or distribution, depending on how you consider it. The Corporate Video Production Company usually helps cater this service to the client, and depending on the choice of corporate video intended, the cost provided by the Corporate Video Production Company may vary.

The cost of video production can vary widely depending on several factors, including the complexity of the project, the length of the video, the equipment required, and the experience of the Corporate Video Production Company.

Below are some of the determinants of video production cost by a Corporate Video Production Company.

 

1. Length of the video

Every Corporate Video Production Company understands that longer videos may require additional production days, and a need for more prepping for production, likewise production and postproduction.

Depending on the choice of corporate video created by the Corporate Video Production Company, the difference between a one-minute and a three-minute video would always be substantial.

This also implies the strategy of the video, if there will be a need for more talents, seeking permits for shoot, promotional, demo launch, explainer video, and any of that; the length and choice of the video are determinants of the cost of video production for the Corporate Video Production Company.

 

2. Choice of location

A Corporate Video Production Company ensures the client must be specific about the choice of location for the corporate video. While this could be a studio job, or animated, it might as well be the entire crew changing location to a distant/remote place. This incurs extra costs for the Corporate Video Production Company, especially if they were not factored in beforehand.

A sudden change in location or a bad experience at a distant location could be a disadvantage for video production and could slow down the cost for the Corporate Video Production Company if not earlier factored.

 

3. Choice of equipment

All the client must do is to mention what type of video to shoot and what the Call to Action [CTA] intended, however, it is left to the Corporate Video Production Company to identify what equipment to use in actualizing the goal. 

A Corporate Video Production Company must have created a scope of work following the client’s message and corporate video from the pre-production phase. Despite all this, if the Corporate Video Production Company is unable to get the equipment, there could be delays, especially if they are in a different terrain. This affects the cost of the overall video production.

 

4. Tenure

This is a critical determinant in the cost of a corporate video. The Corporate Video Production Company knows better than to ask and fit into the scope of work before pre-production. The period spent on video production is factored into the bill provided to the client. In most instances with the Corporate Video Production Company, the shorter the period the lesser the cost.

 

5. Getting the crew

Depending on the type of corporate video the client seeks, the Corporate Video Production Company requires a crew for the job. It lists the Gaffer, DoP, Cameraman, Talents, Stylist, Scriptwriter, Narrator, Makeup artist, and the like. These options make the Corporate Video Production Company evaluate and put a cost to the choice of service.

 

Why You Should Avoid Low-Quality Video Production

At the end of the day, all that will be seen is the client’s brand, likewise that of the Corporate Video Production Company. This goes two ways, as it appears for both the client and the Corporate Video Production Company. 

The client owes it to its brand to go all out for quality service, while the Corporate Video Production Company owes it to its integrity to deliver an outstanding job as agreed to terms and expectations. Anything other than these will jeopardize their brands respectively.

 

Conclusion

Video production remains an interesting process in corporate videos. With the help of a Corporate Video Production Company, it is easier for clients to create appealing stories using visuals for an audience motive. 

While the Corporate Video Production Company plays an integral role in the purpose of video production, one of the hiccups experienced remains the place of cost. A Corporate Video Production Company uses the scope of work created to ascertain the cost of video production for the client. 

The cost of video production is not dependent on the type of corporate video created by the Corporate Video Production Company, but on other factors ranging from the choice of equipment, crew, location, tenure, and length of the video. 

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