International Business News

Let’s Talk About Appropriate Prices In The World Of Business

Let’s Talk About Appropriate Prices In The World Of Business

Have you noticed no video production company web sites mention value? I imply, ok, fair enough every video is distinct. But at least a price range? Nope. Nothing. So you’re left to call around all these companies, ask them ‘how much for this’ and go through the whole rigmarole of being sold. Let me tell you it’s a tough industry and right now the video production companies are hungry.

But if you’re in the market for video production for your website, seeing as we live in the real world, price is something on your mind.

Here are 5 things to keep in mind:

Creativity is key online

We had an internship recently who works for one of our competitors and he was telling me about a company they had signed up. This is a major company, I won’t mention who, but they’re getting some videos done in an interview style. Not sure if it’s interviewing the staff or the clients, but their idea was just to get some talking heads; that’s it, so the whole package is going to be talking heads. Let me ask you a question, you’re a busy person I assume, you have the whole internet to look through with the great sights and sounds, do you want to listen to nobody drivel on about (assuming) how great their business is? Didn’t think so. Online you don’t have the luxury of buying user’s attention, if they’re not interested they’ll simply click away, bye, gone (unless you advertise pre-roll ads, but that’s a different topic… anyway back to the matter at hand).

If you’re a young upstart company or you want to break into a new market and get attention, go with a company that is prepared and wants to take creative risks, not do the same old thing. After all, you can get two videos; one could look professional but not get watched, the other will look professional and will get watched. Big difference! Factor this into your budget!

ROI

This goes back to the last point, but basically, ask yourself: what are my goals, how is a video going to achieve them. Do some calculations and decide if it’s worth it. Let’s take an example. You’re a top legal firm in the city and you compete on large merger contracts from ASX listed companies. I’m no financial expert, but I’m going to assume that a sale is a worth a lot to you. Like can we even say over $10 million? Now considering a good quality video can stay on your website for years… now if you can tilt the decision in your favor for even one deal, well then how much is that video worth?

Think smart, don’t count cents when you should be counting dollars.

Which agency are you with?

Who’s managing your image and your promotions? Are you with an agency? One that has PR, media buying, and branding design facilities? No? I’m appalled! Seriously though most companies can’t afford to go with an agency and pay $12,000 – $19,000 for a 6-page website (real quote, I rang up).

The reason I bring this up is that your video has to match the branding of your website, your business cards, your stationery, your email signature, and also fit into your overall message. We have experience with managing brands and marketing strategy, at the very least we can guide you to come up with some awesome out of the box ideas. That’s a big difference to just setting up some lights and pressing the record button if you know what I mean.

Shopping around is deadly

If you’re shopping around for a video just stop. Let me know when you call if you’re a price shopper. We have done jobs in the past for $500 – $1,000 and looking back it’s just a waste of time for everyone involved. The video comes out looking like crap because the budget doesn’t allow for experienced crew and high-quality equipment, scriptwriting, etc. and not only that but after the video is completed we can’t even put it on our showreel, lose-lose, not to mention the work that has to go into the meeting, proposal, etc.

But just from your side, if you only have $1,000 to spend you might consider getting it done yourself.

Not for everyone The good news is if the price is a factor Head Studios can deliver service within your budget this is one of our specialties. All I’m saying is, think smart.