Here at Stordeo, we realise that the whole point of video marketing is to stand out from the crowd. It is a well-known fact that video increases the understanding of a product by 74%. However, the big question is, how can this be done on a budget without compromising on quality, because, let’s face it, as a new business, you want to avoid a hefty price tag at all costs. The key, is understanding how to reduce your expenses in each stage of video production. Here are a few tips on how you can cut costs, without sacrificing on quality.
1. Have a strategy
What is your ultimate objective and what is your key message going to be? Are you concentrating on; showcasing your website, recurring content marketing, quarterly on-site product marketing or event recording and pre-event in studio productions. What do you consider a priority at this point within your business and who is your target audience? Do you have a deadline and how do you plan to market this once it is complete? It might an idea to have a look at what your competitors are doing and see how you can stand out from the crowd by marketing your business to best advantage; ultimately, you want to stand out from the crowd and get the attention of your target audience. Once you have the production brief, it will be easier to set a budget and stick to it.
2. Set a budget
Once you have decided on the aspects of your business that require priority, do a bit of research in relation to the pricing. Getting some professionals in at this stage would be a good idea. It is sometimes possible to cut down on production time to keep costs low. Many small businesses don’t explore this avenue simply because they believe that they cannot afford to do so and miss out on a powerful form of marketing because of this misconception. If you have never produced a video before, some of the following decisions need to be made:-
· Do you need a script?
· Do you want an animated video or a live one?
· Do you need any actors?
· Do you need a location or is the shooting going to take place in the studio?
· Are you going to work with a professional videographer or hire the equipment yourself?
· If you are going to do this yourself, how much equipment will you need to hire?
· Are you creating a one off video or a series?
3. Keep it short and simple
Remember that a “one minute video is worth 1.8 million words” so there is no need for your video to be long and involved. Product placement and promotion is your goal. The production (shooting) stage needs to be short or will take up a large proportion of your budget. Choose a style for your video, be organised and have a set plan for the day. Be clear and succinct with your requirements.
If you decide to get a professional company in, rather than in-house production, ensure that you communicate any questions or concerns to them during the process. It is more difficult and more costly to change your brief once the production phase has passed.
5. Look back and perfect
Once the video has been produced and distributed, discuss with your team how you think it could or should have been done better and ensure that you keep this in mind, the next time you need a video for marketing. Remember, no video will be perfect and there will always be aspects you could have done better or areas you could have saved costs. Learn from your mistakes and do better next time.
Image courtesy of everydayplus at freedigitialphotos.net.