Getting The Most For Your Video Budget

Get more bang for video budget buck.

Get more bang for video budget buck.

Okay… you have a video budget. Now it’s time to get some video proposals. Unfortunately, this is how it sometimes goes…

  • client requests a proposal
  • production company spends time preparing their ideas and putting them into a proposal
  • client looks at the proposal, but the price is beyond their budget

Ugg. Has that ever happened to you? Probably… and not just with video. It’s a problem with just about any creative agency and it wastes everyone’s time.

The creative businesses putting together the proposal… the client waiting for the proposal to come back… and the client again because now they have to wait for an updated proposal or seek-out other companies. It’s certainly something that pops-up from time to time, and something I have blogged about in detail before. 

The solution to the problem

It just doesn’t work, but there’s a way to make sure it never happens again. Give the video producer your budget upfront.

Did I just write that? You bet I did. Tell them your budget upfront.

I know, it’s not the way we do things. Nobody wants to give someone a budget that might be more than what it takes to get the job done.

Here’s the problem though, there can be HUGE differences in video production costs depending on what you want done. If a company wants an About Us video, we could prepare a proposal that is $800 or $8,000. The price can vary that much, and as producers we’re trying to read the minds of clients as to what their budget sweet spot might be.

Another way to use your video budget

What’s the point? If you’re doing your homework you’ll be getting multiple bids, right? That ensures you’re not going to be taken advantage of because if you give three production companies your budget, you’ll get to see what all three will deliver for that price. If one is way out of whack, you’ll see it.

Now that’s a smart and time-saving way to get a creative proposal.

–Tony Gnau

Tony Gnau is a three-time Emmy-winning journalist. He is also the founder and chief storytelling officer at T60 Productions. T60 has won 11 Telly Awards for its work over the last eight years.

 

 

 

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