Making the Most of Your Video Budget

Whenever we’re discussing a video project with a client, we make every effort to ensure they’re thinking about how to get the most out of their video production. It makes no difference if the project calls for a half-day of filming or a full week, it makes good financial and strategic sense to think of ways to get the most out of your production dollar.

We have all heard the term economies of scale. The idea is that the overall cost per unit can be reduced by increasing the quantity of items being produced. 

The automobile assembly line is a good example. Producing one car is incredibly expensive. However, when manufacturers produce more cars over time, the cost per car decreases when they amortize the costs of manufacturing, research, and development over more vehicles. The same can be said – and done – in your marketing efforts using video.

Video marketing has become an indispensable tool for businesses of all sizes. This effectiveness applies to projects all along the spectrum, from high-production value to low-budget video. And the dirty little secret is you don’t need a Hollywood budget to create impactful content. In fact, some of the most engaging videos come from resourcefulness and creativity.

One often-overlooked treasure trove of content lies in the very heart of your video production process: the cutting room floor. Don’t think of those discarded clips, images, and interview sound bites as merely remnants of the editing process; they represent untapped potential. By repurposing this footage, you can extend the life of your video, reach new audiences, and ultimately, maximize your return on investment.

Discover What Lies on the Cutting Room Floor

• Cost-Effective Content Creation: You've already invested time and resources into capturing this footage. Why let it go to waste?

• Audience Engagement: Short-form content, like social media clips, can be highly engaging. Repurposing footage allows you to experiment with different formats and storytelling angles.

• Increased Brand Visibility: Every piece of content is an opportunity to increase brand awareness. By distributing your content across multiple platforms, you expand your reach.

• Data-Driven Optimization: Analyzing the performance of different clips can provide valuable insights into audience preferences, helping you refine future content.

Practical Applications for Repurposing Your Video Content

Perhaps you’re interested in producing a recruiting video to attract new hires. Or maybe it’s an “About us” piece to share your culture with potential customers. Or you may want to produce a brand anthem video to feature on your website or social media. 

Now, consider what it will take to tell those stories with impact, emotion, and an effective message. You'll be spending your budget on a producer or production company. If they’re doing their jobs correctly, they will help you strategize, consider your key messages, define your audience, and identify all the important communication goals for your video; all part of your “startup” costs.

When you’re ready to go into production, you’ll have a film crew, and – depending on your goals, project scope, and the size of your budget – you’ll spend money on a videographer, required video equipment, as well as the producer/director. And if it’s a larger scale production, there will be more personnel and additional gear.

In post-production, you’ll have a writer/producer working with an editor, perhaps a graphic designer and animator, and maybe an audio engineer. 

The point is fairly simple. There are inherent start-up costs to begin your production. You can do your best to minimize those costs – or ask your producer to keep the budget under control – but the reality is, that the biggest portion of your project expenses will come from the production, or filming, stage.

Enter Economies of Scale

Here’s where that college economics class can be your guide to a more efficient use of your budget. With careful planning during pre-production, you can get the most out of your filming sessions by identifying communication goals and how your video content can help meet those objectives.

Before the roll cameras, make a list of content ideas; and actual deliverables you’d like to have coming out of your production. 

Let’s say you’re filming an “About Us” video for your organization. It’s reasonable to assume you’ll want to feature thought-leaders in your organization and film them in interviews. Have a list of questions that will create compelling content for the “About Us” video, but have some more topics in your back pocket. Get their thoughts on company culture or proudest achievements over the past year. Have fun with it and ask your VIPs about their first job or favorite holiday recipe. 

Have a gathering of team members, each with a chance to take the hot seat on camera for additional content. And if you have some extra time, ask your videographer to roam your office to capture fun, candid moments.

Ideate with colleagues for short content pieces that could be created for your social media platforms, company website, or YouTube page. This genre of content can be captured and crafted in a fraction of the time it will take to complete your signature “About Us” video and will be much less expensive. The more pieces of content you create, the more efficient you make your production. If you plan correctly, you could film enough content to share on social media for the next six months or longer.

There are no wrong answers when it comes to capturing bonus footage. But think through what you’d like to have, and follow through. It just takes a bit of forethought and organization.

Important Details to Consider

• Know Your Footage: Review your raw footage carefully. Look for strong visual moments, compelling sound bites, or even bloopers that can be repurposed.

• Content Calendar: Emphasize the role of a content calendar in planning video production. By mapping out content needs in advance, you can optimize production schedules and resource allocation.

• Short-Form Content: Create bite-sized clips for platforms like TikTok, Instagram Reels, and YouTube Shorts. These platforms thrive on quick, authentic attention-grabbing content.

• Timing is Key: Consider filming during a company meeting, when everyone is at the office, or at an outing or philanthropic project. It’s a great way to capture fun, compelling content for your team.

• Distribution Strategy: Consider how different platforms and channels can be leveraged to maximize the reach and impact of video content.

• Analytics and Optimization: Many social media and website applications have features to track the engagement of your content. Take advantage of the technology to identify opportunities for improvement and cost optimization.

Be Smart with Your Resources: Bigger isn’t Always Better

By careful planning, you can significantly increase the return on your investment. You’re playing the long game, consider your video production as a strategic asset, rather than a one-off expense. By thinking ahead and identifying opportunities to repurpose content, you can unlock the full potential of your video marketing efforts.

Remember, economies of scale in video production are not just about saving money; they're also about creating more impactful and engaging content over time. By maximizing the value of your production, you can achieve greater reach, build stronger brand awareness, and ultimately drive better business results.