Corporate videos in recent years have acquired a prominent space in the marketing strategies devised by businesses big and small. They are the perfect way to tell a compelling brand story in a compact manner. Let’s accept it, a video is always more gripping than a text post while you are scrolling down your Facebook or Instagram feed. But the corporate video Production Companies need to pull all strings together to get a 2-minute video absolutely right. If the heightened demand for innovation is on one side, creating the right budget for a corporate film is a priority as well. The cost gives a framework to the team as well as the client within which they can work and deliver an engaging corporate story.
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Importance of Corporate video production template:
The video production budget is a detailed list of how much you would be spending on the project and on what all aspects. It goes beyond merely providing a rough estimate and provides a detailed list of expenses throughout the production process. To professionally handle the budget, seasoned FilmProduction Houses adopt corporate video production template. This template should be developed by the core team which includes all the products and services you would be using while directing a video. Depending on the various projects you handle, this list can be customized to accommodate specific requirements. Following a template makes your proposal look all the more professional and avoids confusions while communicating with the clients regarding the budget. It also acts as a checklist to assess your expenditure at various stages of the project. One can use various advanced tools available online where you can price each product and service and the tool automatically calculates the estimated cost. Thus having a template makes the work easy and organized.
Expenses to consider in your corporate video production budget:
Creating a corporate video or any other film for that matter is done in 3stages – Pre-production, during the production and post-production. Your budget should also be divided into 3 stages.
Once you sign the deal for a new project there are a number of pre-production activities you need to spend on. The major chunk of your budget at this stage should be dedicated to script writing. Story-boarding, putting the team together and management are a part of your expenses as well.
During video production:
Once video production is underway, the Corporate Video Production Companies have a lot of elements to spend on. Starting with casting artists, technical and non-technical crew, equipment, props, location, travel, hospitality, studio, sound, costume, make-up and much more are all part of this stage. The percentage of budget allocated to each of these elements may change depending on the requirement of the project and if there are any unexpected changes in the scheduling. It is always ideal to maintain a backup budget in case you need to spend a few thousand more in times of emergency.
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The third stage of video production is as vital as any. This is where the corporate video gets edited, polished and the finishing touch to give it a final shape. Your budget at this stage should cover the charges of an editing studio, editors, graphics and animation, voiceover, background sound and music, titles, captions and voiceover in alternative languages. Leading Film Production Houses will have their own in-house experts for all these services. However, the cost may vary if these services are outsourced.
Other cost considerations
The while your budget provides you an outline of what money you need to spend in order to complete your video, there still might be other unforeseen and unexpected costs that might arise throughout the process. So always add something extra to your budget for the products and services that you might purchase suddenly throughout the production process.
Once you understand your budget planning becomes a cakewalk. Also, you feel secure and pre-informed about what you’re spending at each stage of the thevideo production project. You know well up to what limits you can spend and with a budget prepared in advance, there is complete transparency and you keep track of your outgoings. Also, the video production company can then tailor their services within the budget you have set.