BUSINESS VIDEO MASTERCLASS
Part 1 - Planning an effective marketing video
The day rate solution
I’d suggest knowing the Day Rate for each studio will help you in deciding the best studio for the best price for what you want to achieve.
ie, how much they charge per day for editing, illustrating, animation and so on.
Often there’ll be a single rate for many of their activities.
For example how does the Day Rate for a single video compare with the Day Rate for a series of videos?
I’d go as far as to suggest that the day rate shouldn’t change that much, unless:
> Their business plan is ill thought out, or non-existent.
> They secretly put cheaper, less skilled people on your job.
Either way, you should tactfully figure out how they can work to a cheaper day rate, if the drop in price seems to be a lot, and they obviously have a lot to gain
I’ll talk more about Day Rates shortly.
It’s also worth adding here that economies of scale in video aren’t as forthcoming as economies of scale in, say, some manufacturing sectors.
Well after the first video, where the core style is worked out, each video will still require much the same amount of work, eg, scripting, storyboarding, image acquisition, editing time etc.
And it may well be that you want to vary your style a bit, so your video series doesn't look too repetitive.
No client wants their videos produced to a formula as each video project is unique and variable in some way.
You can look for common elements, perhaps sharing an intro or an outro between videos, with different body content for different markets.
Or maybe share similar icons between?
Looking for commonality helps.
My own experience is that, in practice, clients take each video seriously and differently, and feel hamstrung by a style formula that becomes increasingly restrictive - even if the style formula was originally their idea.
For example, as you make more and more videos, you’ll feel more expansive, better informed, and maybe want to experiment with different, possibly more effective styles.
Yet you’re contractually stuck with a price formula that doesn’t quite work for you.
There are no immediate hard & fast answers here.
But hopefully you at least know some of the right questions to ask.
The underlying important thing to know is the Day Rate.
Knowing Day Rate you can compare quotes, and better understand what things cost.
As a valued visitor to Business Video Masterclass, you’re now welcome to a FREE 15 minute personal consultation with me, where you can ask about a video problem that’s on your mind.
I’ve spent most of my professional life solving real world video problems.
It’s relaxing for me. I enjoy it. So please share your ambition or concern, and I’ll do my best to help.