Corporate video production is a general term that is used to describe anything from a 30 second commercial to a curriculum of online educational video content. The cost of a five-minute business profile video will not be the same as a five-minute testimonial interview.
Every job is different and presents unique challenges. Videographers and video production companies will want to collect as much information as possible about a project before they provide a quote; this will minimize any problems and surprises especially in costs during the discovery process.
Here are 7 factors that will determine the budget of a project
Pre-Production
Being prepared and allocating time to discuss the needs of the project is key to a successful production; this is true for scripted video projects. The client and the production company will communicate over emails, phone calls, and meetings to go over scripts, storyboards, casting for actors/spokespersons, discuss equipment & crew needs, etc.
Preparation is also key for non-scripted projects. The project manager will need to prepare questions, schedule individuals for interviews and book conference rooms. If they are preparing an event, they need to discuss with the venue their audio/visual needs.
Insurance
This is commonly ignored or never considered, but it deserves special attention. Dealing with equipment (no matter how small or large), a professional videographer/crew should make all precautions to make the set a safe environment. Government buildings, hospitals, universities and some entertainment venues will protect their property and require all outside vendors to have, at least, general liability insurance. This is especially true filming in high-rise corporate offices in major cities. Consult with the office manager if the building requires the production company to provide proof of insurance. You do not want to find out on the day of production/event that the company you hired can’t make it pass security!
Video Production
A full-day of video production, for example, will cost less than three days of video production. The crew, whether it’s a one-man band videographer or 2-4 individuals, will need time to set up their equipment and address any issues with the client prior to filming.
On-Screen Talent
Besides an actor or a spokesperson, whom might appear in front of the camera? Companies hire consultants for speaking engagements and sit-down interviews to discuss trends and advancements within their industry. Brand marketing companies love to hear what people on the streets have to say about a product or buying experience. A promotional gift might stop them in their tracks for a few minutes of their time.
Post-Production/Editing
Filming is only the first half of the project. The other half is editing the video footage and making something special. It could be as simple as editing out the head and tail of a single camera 30 minute power-point presentation to crafting a dynamic 3 minute promotional video with lots of cutaway shots (b-roll), audio mixing, graphics, effects & animation, music, voice-overs, transitions, and color-correction.
Copyrighted Assets
A panoramic shot of Dubai’s skyline may be needed to reflect that your company does business there. A business profile video without background music wouldn’t be very exciting. Purchasing a license for royalty-free music is a great and an affordable way to enhance the overall video and give it context. Other assets that licenses can be purchased for are: graphics, animation, stock photography and video. They can all be used as part of a larger work.
Deliverables
Video files can be made available for download through a file-sharing site/FTP. If the video files are too large, purchase a portable hard drive. It will ensure the client will have all the files. It is also great for safekeeping should the files be lost or when you need to return to the project sometime in the future. Depending on the project, client may request Blu-ray Discs or DVDs as the final product.
