They’ve made over a dozen feature length films with an iphone, so why do you feel like the only way to make quality video content is by spending thousands on production? Don’t answer that, it’s a rhetorical question. The fact is we live in a tough time when it comes to the digital world and it’s no longer quality or quantity; if you want to sustain an online presence you’re going to require a quantity of quality content. There’s two options to achieve that.
The first option is ignoring everything in the above paragraph and hiring a production company. Before we look into the estimated cost of that we’ll look at the facts. Social media is where all of your consumers are, in fact Facebook alone takes up 22% of internet time across the United States. On top of that, Facebook videos earn the highest rate of engagement with 100 million hours of video watch time across the entire platform. No, that’s not a Dr. Evil esque exaggeration; it’s an actual number. 100 million hours of videos are watched every day on Facebook. So obviously you’re going to want most of your content to be video if you want to reach the highest potential number of consumers.
Most people believe you need to post every day, but for the sake of argument we’ll say you can post 5 times a week. If you’re posting 5 times a week and a majority of them being video, that’s at least 3 videos a week which is 12-15 videos a month. Finding a safe balance between professional and affordable, a shoot like that would be about $4,000. Now, you can find someone to do it cheaper but the quality will most likely suffer. So one production a month totals out to $48,000 every year. That’s a really good salary for some that’s only working one week a month.
Option two is shooting your own content. You already have a smartphone, which means you already have a 4k camera. You can buy everything else required for about $200 (Find a complete list here). With those items you have the ability to shoot an infinite amount of high quality content, whenever, wherever.
The challenge comes with editing, sure you can put your clips together on iMovie or another free app but those are equivalent to making a powerpoint. If you want your content to look professional you need to add color grading, audio correction, as well as clean transitions; all while telling a coherent story. What I’m trying to say is that you need to outsource your editing. You can outsource editing for more than half of the cost of a full production. That’s at the very least $24,000 saved every year that you can put towards ad space or other marketing efforts. And most of the time the editor will take care of the storyboarding as well at no additional cost.
In conclusion, technology is giving you a cheaper option without sacrificing quality, take advantage of that. You may not see the value in video content or even social media right now, but the consumer does and you’re leaving a lot of money on the table if youre not utilizing it.