How to cut costs on your corporate video production (without compromising quality)

Corporate video production can be an expensive outlay for a business. In the 80s and 90s the typical cost would be well into the five figures and sometimes six. Over the past decade or so, technology and equipment prices have dropped making the cost of production much cheaper. The 4 figure budgets associated with most promotional videos and marketing videos these days however can still be expensive for small businesses. While it is possible to make a corporate video for virtually nothing using a smart phone the quality can adversely affect brand image. I run a corporate video production company in London, UK and will be giving some tips on producing cost-effective videos without compromising on quality.

Many of the advantages of online video are not directly quantifiable. Some types of video such as sales videos however, can produce a tangible ROI. It is sometimes possible to estimate how many potential customers will see the video and be persuaded to buy as a result. For many B2B businesses one sale will pay for the cost of a video production. There are many other qualities though that a well produced video will bring such as raising brand awareness, developing thought leadership and increasing morale and communication within an organisation.

Often, you're starting point in commissioning a video will be to contact several video production companies and obtain some idea of costs. Quotes can vary widely. An established video production agency will have higher overheads and likely quote higher though they may have access to a wider range of skill sets and can assure a certain standard of quality. You might also expect more experienced advice on how best to produce the video and use it after it has been completed. In larger cities such as London, UK the cost may also be higher though there may be a wider spectrum to choose from. At the lower end of the spectrum there are solo videographers that will both shoot and edit. They can often produce videos at a much cheaper rate than the larger video production companies though the quality may be variable. It is worth checking up on how experienced a videographer is and view some samples of their previous work.

Once you have decided on a video production company or videographer you can still cut the cost further.

Most production companies will suggest a two-person crew for a simple shoot and a bigger crew for something more complex. If you are producing an event video you may require multiple cameras. However, often the second or third person in a film crew is a production assistant to help with the smooth running of the shoot. If your organisation has a member of staff that can assist with the logistics you may be able to cut costs by just hiring a smaller crew. The more help you can offer the film crew the cheaper they will be able to quote. Most production companies will charge by a day or half day rate. If you can organise everything that needs to be filmed in to as short a time as possible you can cut costs substantially. You may want to organise all of your staff interviews or testimonials on the same day rather than spread across several.

If your video is based on interviews and testimonials you can further cut costs in the edit. You can arrange to have all of the 

interviews sent to you as files so you can select soundbites to use in the final video. This can reduce editing time. You may also be in a better position to 

select which clips to use than the editor. Music in a corporate video production can also add to the cost. If you are able to source suitable copyright free music you can further cuts editing costs. There are many sites on the Internet that allow you to buy cheap or sometimes free music for use in video productions.

A well produced video can provide rewards greatly outweighing the cost. A poorly produced video however, can sometimes be worse than not producing one at all. Our modern world is very discerning in assessing the quality of video content and may judge brand image accordingly. In my experience there is a threshold above which a video looks well produced. Good lighting, sound and editing are essential. Other elements such as motion graphics and animation can inflate cost though can be effective if budget allows. In general, if you are on a tight budget, keep things simple though well produced.