How to Decide Your Video Budget

March 28, 2023

Want to include video in your marketing budget but don’t know how much it’ll cost? It’s a fair question, and a tricky one at first glance. With up to 54% of consumers wanting to see more video content from brands they follow, though, it’s a necessary one. But don’t worry, we’re here today to help you decide your video budget, and get that camera rolling.

The First Question to Ask

While there is no one answer to the perfect budget for your brand’s video, there are some considerations you can take into account. The number one of these being: to hire a video production company or not? At a glance, video production rates may seem a bit intimidating. But with global marketers surveyed to spend anywhere from 1k to upwards of $50k and beyond on a video marketing budget, it is definitely worth a consideration. Especially when it comes to the question of the value of time vs. money. Sure, you may be able to save a little monetarily-speaking by shooting in-house, but it is almost guaranteed to cost you much more time when you are responsible for everything. Plus, you may not save at all, once you rent/buy equipment, so this is definitely an important conversation to have with yourself and/or your team.

Must-Have Considerations

Of course, depending on your brand’s or product’s needs, filming independently may be quite simple. Say you’re promoting a book or are a make-up artist–a simple backdrop with some good lighting, a decent mic, and a heartfelt message and boom! Practically already at “That’s a wrap!”.

Here are some other important considerations to make when deciding your video budget:

  • Could you generate UGC (user-generated content) among your client base and use that to promote your product?
  • Do you need high-end video quality or would a smart phone do the trick?
  • Are you filming actual employees or hiring real actors for your project?
  • Do you need ongoing video or is this a one-and-done kind of deal?
  • Will your shoot require multiple locations? Or will a simple studio setting work?
  • Will there be a script? If so, who’s writing it?

Options to Help

We know. Take a breath, it’s a lot. But, as is always our goal here at Waves Media, we’re here to help. Over our 15+ years of experience in video production, we’ve become very familiar with all the ups and downs of creating video. And we’re also very familiar with its benefits, as we’ve seen great success in our collaborations with and for clients. So we’ve created options, because we recognize video is not a one-size-fits-all type of thing. And we’re all about conversation, because we believe with questions comes clarity.

So, why not drop us a line, and start the chat? Or, if you’d rather, watch this and see for yourself one of the many options we offer. We hope to hear from you soon. 🙂