“How can i save $11,000 on my next video?” Video Answers. Episode 36.
We all want to save money. That’s why I want to share with you a really simple principle that can save you $11,000, or more, on your next video. That’s on this episode of Video Answers.
When it comes time to plan for a video, it’s all about math. Yes, there’s an assumed creative component, but at the planning stage it’s all about the number of shots it’s going to take to fill the video. When you know it, you can plan, which opens the door to a whole new world of possibilities.
Let me give you an example:
Let’s say we’re shooting for a three-minute documentary style video with a crew of five, two cameras, one shoot day and two travel days at a cost of $14,000. Let’s assume that with a little additional pre-production while your crew is on-location they could ask a few more interview questions and grab a little more b-roll and give you another three-minute video, with no additional shooting costs.
What would that be worth to you?
Would it have to save you $2,000 dollars, or $5,000 dollars or what would it have to be $10,000 savings? Well, in this scenario it could save you about $11,000 dollars. That means you could either get one three-minute video for about $14,000 or you could get two three-minute videos for about $17,000.
That alone reduces your cost per video from $14,000 to $8,500 or a savings of $11,000.
Now this is just one example, but you get the idea. We’ve applied the same principle to $5,000 projects and $500,000 projects.
How does it work?
There are certain fixed costs that you’re going to have on every shoot like:
- Setting up & Tearing down
When you can use those fixed costs for more than one video at a time, you can realize a significant savings. We call that Economy-of-Scale.
How do you do it?
From the very beginning, you plan to produce more than one video at a time.
It’s really simple:
- plan it once
- shoot it once
- edit it once
…And all it requires is a little strategic thinking.
So the next time you need a video, do yourself and your budget a favor and take advantage of those Economy-of-Scale savings and save yourself a lot of money.
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Comprehensive Media is an video communications company that brings businesses perspective through ideas, messages and stories.