I’m often sat around the table at a meeting or pitch with potential clients and the conversation is usually very relaxed. People are having a good time talking about the exciting, creative possibilities of producing a film. However, one subject that can make even the coolest client choke on their coffee or sit bolt upright and wide-eyed, is the good old thorny issue of cost!
The budget
This aspect of video production is naturally at the forefront of people’s mind when they are assigned the task of commissioning a corporate film. “How much will it cost?”, ”Can I have a quotation for a film? ”, “I do not have a large budget, but would like to produce a professional film”.
Many companies do not have the huge budgets available that are sometimes associated with the film business but are nevertheless looking to produce the most professional film they can afford. However, the real answer to the question “How much will it cost?” is not an answer clients are always comfortable with, because the real answer to this is, “it depends”. In business we are usually more comfortable with black and white scenarios that we can calculate and forecast accurately, however, in the creative industries, things are not always straightforward, as we will see.
The cost depends on the clients’ expectations in terms of the level of sophistication required. Some companies are happy with a head-shot interview of the boss speaking for five minutes against the backdrop of a blank wall and a flower pot, for others, money is no object and demand the finest shots in exotic locations with superb animated graphics and branding, produced by the finest directors, cinematographers, and production designers in the business!
The sky really is the limit in the film business when it comes to money. It can eat money – millions of dollars can easily be spent on feature film, corporate videos, and commercials. So this is where you, as a the commissioner of a corporate video, have to get tough. You must decide on a budget range for your production. Calling hundreds of production companies for a quotation and selecting the lowest price is not a great strategy. Their price may be low for a reason. Perhaps they are using substandard crews or equipment. They may not be qualified or insured to carry out the job, or perhaps they are more used to filming family and friends, rather than to the standards required by professional companies looking to get the edge. This may not necessarily be the case across the board, but certainly worth thinking about!
My advice is to decide if you want to go the professional route and if so, think of the maximum budget you can sensibly afford. Then approach a qualified, experienced video production company with this figure in mind. If your budget is very modest, keep your feet on the ground and your expectations in line with the available budget. This will give the director and production crew the chance to achieve a great result.
If you do not have an adequate budget, then my advice is to wait until you do. There is no point in thinking that people will be impressed by a corporate film that looks second-rate. Everyone is used to seeing high-end television commercials, feature films and documentaries on television that costs tens or even hundreds of thousands of pounds or more to produce. When you come to produce a film, remember that this is the standard that has been set and therefore, although you may not have the budget to reach the very highest standards in the film business, it still has to be very good. You need to deliver a good quality film to impress your target audience.
Think about your expectations in terms of the level of sophistication of your film (in the business, what we call the production value). Decide on a maximum budget that you can sensibly afford and then contact a professional and qualified production company with this in mind.
In Part 4, we will look at the script, the document that holds so much importance!
James