Studies show that people remember merely 20% of what they hear, and only 30% of what they see, and an incredible 70% what they hear and see. * With this in mind, it's no wonder why video is such a powerful communications tool.
So your company has decided they need a video. Where do you start? What questions do you ask? How can you make sure the final product is what you are expecting? This article will give you the tools you'll need to have a professional video project you can be proud of.
First, let's talk about money. As with most things, you get what you pay for. Especially with video production, if you make a decision to hire a production company solely by picking the lowest quoted bid, you will probably end up with a video that is much less than what you expected. Remember, this video represents your company. Do you want your video to look like a high school A/V project? On the other hand, there is no reason to go crazy and spend ungodly amounts of money. It's important to find a company that gives a fair bid for the type of video you need and can produce your project in a professional manner.
Two Decisions
To start your video project, there are two decisions that you will need to make. First, do you want to hire an independent producer or a production company? Second, you will need to decide if you wish to receive your bid for production as a "Package Price" or "Piece Meal".
Independent Producer or Production Company?
Independent producers usually work for themselves and do not own any equipment. They generally rely on outside production companies to supply their equipment and crew needs. This means that if you have an immediate need, the producer is dependent on someone else to help service you. However, unless the independent producer is very busy, you should get good personal attention.
By hiring a production company, you can get a producer who is part of the production company that has the equipment and crew resources in-house. They can generally respond immediately to your needs. Depending on the scope of your project, a production company will either use an in-house producer or hire a freelance producer to coordinate your project.
Either way you decide, be sure you have an experienced producer to manage your project.
Two Ways to Hire
There are two ways of hiring a producer or production company to create your video: "Package Price" and "Piece Meal".
"Package Price"
A package price for the entire project is the way many videos are negotiated. For most situations it is the most logical. The client knows exactly how much to budget for, and the production company knows how much money they will have to work with.
If you choose this route, be sure to have a very clear bid with exactly what each side will be responsible for. The advantage for this is if the company requires to do more work than initially planned to finish what is described in the bid, they are obligated to do whatever it takes to complete the project. However, it is very important to understand that if you, as the client, request more than what is described in the bid, you would be expected to pay extra for your request.
"Piece Meal"
The other way to produce your video is "piece meal". Hire your production company by the day, or by the hour. This way, whenever someone is working on your project, you are paying for their time and only the time they are working on your project. Your producer should be able to give you hourly and daily rates and to estimate the total cost for the project according to your needs.
Your Producer
Whether you hire an independent producer or a production company, you should have an experienced video producer coordinate your entire project. Your producer should be available to you at any time to answer questions and to consult with you about any part of the production. Don't scrimp on your producer; they could make or break the entire project, and they should not be learning on your nickel.
Your producer's job is to manage the project from beginning to end. They are responsible for coordinating the scriptwriting, pre-production, shooting, and editing. Depending on where you live and his or her experience, you can expect to pay your producer between $350 to $1000 a day.
Scriptwriting
Scriptwriting is usually charged by a finished minute rate. For example, if your script is 10 minutes long and you are charged $200 per finished minute, your cost for a complete script should be $2000. A complete script should include all voice tracks and equally important, the vi
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