How do I set a budget for my video?
It can be difficult setting a budget for a video, especially if this is your first time. I often ask our clients what budget they have in mind, not to see how much we can get out of them, but because this way we can determine the production value the client is expecting for their video.
At Video One, we have produced promotional videos for as little as $1250 and as much as $45,000. An example of a $1250 shoot is one we did for a small business with one camera and little editing. Here’s what that looks like:
The $45,000 one, however, was a longer, scripted video for a national brand with actors, multiple cameras, props, scripting and other necessities. Here’s what that one looks like:
As discussed earlier, two cameras will often give the video production a better look. However, two cameras are more expensive than one and add to the editing time.
Here is a checklist to consider when sizing up your budget needs
- Do I need a studio?
- Do I need a professional voiceover?
- Who will write the script?
- How many cameras do I need?
- Do I need motion graphics?
- Where will this be filmed?
- Do I need production, editing, or both?
Whatever budget you decide on, make sure your video production company will honor it. If they agree to the project, they have agreed to provide all the services you wanted within your budget. Make sure that is clear before you start filming. You don’t want to go through the entire filming and editing process and be surprised by an exorbitant bill at the end.
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