How to Produce a Video on a Budget

If you’re looking to create video content for your business, you might think you only have two choices: to do it yourself to keep costs low or spend a significant amount for the services of a video production agency.

However, there is another option. With smart planning and careful consideration of your company’s video production, using a video production agency can be affordable and offer you a great return on your investment.

Whether you are a large, multi-site company or an innovative start-up, the secret to producing a video on a budget lies in sound preparation at each key stage of production. Good planning avoids wasted effort, time, and money.

We reached out to On The Ark, a video production agency, for their top tips on producing a video on a budget.

Ask yourself the important questions

Producing a video and seeing your vision come to life is very exciting. But this means it’s easy to get carried away and want to get things started as soon as possible. However, pre-production is a critical stage where you should ask (and answer) a series of important questions.

The fundamental questions should include:

● What’s the objective of this video?
● Who is the intended audience?
● What is the key message/s?
● How long does it need to be?
● How will you distribute it?
● When is the deadline?

You’ll also need to consider if your video requires a professional script and whether you plan to use live-action shooting or animation. If it’s live-action content you want, you’ll also need to ask:

● How many actors or colleagues will you need for your video?
● Where will the filming take place?
● Will any locations incur a rental cost?
● How much equipment do you plan to hire?
● How many videos do you plan to shoot in the same production run?
● If planning a video series, which parts of it are you planning and shooting now?

Capture your creative brief

You’ll likely have an idea in your head of what you want your video to include and how you want the finished content to look. However, it’s important to get your vision onto paper in the form of a creative brief. Having a tangible brief that can be shared ensures that everyone involved in the production can understand your goal and even add some value to your proposition.

A video production agency will help you develop your creative brief, ensuring it documents the production activities needed to make your video, and the desired actions you want your customers to take upon watching it.

Explore your production costs

Many things can impact the budget of a video, including the filming locations, time of year and even the time of day. For example, some locations may require agreement in advance, and specific access agreements.

When finalising your budget for producing video content, make sure you consider all factors. For instance, if you are filming in daylight, the winter months can mean a shorter working day and you’ll need to plan for the possibility of poor weather. All bear in mind that shooting more rather than less could actually provide more value for money, especially if it results in a bank of video assets that you keep for use in future projects.

A video production company will have experience in navigating a broad range of circumstances meaning they will be able to offer practical planning advice to help you stick to your budget.

Consider licensing requirements

Another aspect that will influence your budget is licensing. This includes the use of stock images, footage, and music. An experienced production agency can advise on licensing and give you an idea of the costs involved.

Plan for repurposing

There are many ways that you can make the most of your video content, ensuring the best value for money. One such way is by repurposing the content of a project for use in future marketing materials.

Your video production agency should be able to advise on how you can best re-use footage and ensure that it is shot in a manner that offers versatility. For example, filming a few additional scenes or including one more location can yield a larger bank of content that you can make use of in the future.

Confirm your channels

It’s important to consider the channels on which you will use your video, even if later down the line. The video might initially be for use on social media, but during the planning stage, you’ll need to think about whether the content might be used at a later date for a TV ad, for example.

Thinking ahead will help confirm the quality of the camera and editing technology that is needed, as well as crucial elements such as compliance and TV ad script clearance. A video production agency can provide vital knowledge when it comes to deciding on your planned and possible future channel choices.