Knowing how and when to invest in video for your business

20 August 2019

When it comes to content marketing, video has rapidly become the most powerful way to deliver a message to your audience. More versatile, engaging and effective than other forms of content, video has taken over the digital, social and communications landscape with more brands than ever cashing in on the trend.

Yet for many businesses, using video is still on the ‘wish list’ and can be quite daunting – but it doesn’t have to be. Knowing where to start is half the battle.

Option 1 – Professional

Use when: You need high quality, long shelf-life content that has well-thought-out creative, and high production value.

Examples: A television ad, brand video or hero product video.

Solution: Hire a video production agency.

Step one? Hire an agency or a videographer and provide them with a brief. Step two? Wait for the finished product to arrive.

While this sounds like a dream, the reality is this is the most expensive option and can cost anywhere between $3k – $50k per video. The flip side is it will require the least amount of time on your part and will give you the most polished outcome (Superbowl ads here we come!).

Option 2 – Hybrid

Use when: You need regular video content that has a medium or short shelf life and doesn’t require Hollywood production value.

Examples: Client case studies, social content, internal comms, video blogs, how to’s.

Solution: Use a hybrid tool / DIY video platform

If your audience doesn’t need high production value video and you want to turn videos around quicker and for a lower cost, then a hybrid approach is the way to go.

There are plenty of tools & services now available that let you take control of either the filming or editing of a video yourself, drastically reducing the cost and turnaround time. This is the best of both worlds – it’s fast and affordable and you still have a professional touch to ensure high-quality output.

You film, a pro edits. For DIY filming, your smartphone is your go-to. All recent smartphones have insane quality cameras built-in and with a few low-cost additions like a mic, light and tripod you have a professional video setup for only a couple hundred dollars. A professional editor can then take your footage and weave their magic.

A pro films, you edit. Hiring a videographer enables you to leverage their gear and skills for filming, and then you can piece your video together yourself. Most computers have basic video editing software built-in. A few YouTube tutorials can also help you get started and bring you up to speed on some of the technical elements.

Option 3 – In-house

Use when: You need high volumes of frequent content that doesn’t require a lot of creativity or production value.

Examples: Daily/weekly video blog entries, basic training or instructional and updates.

Solution: Use in-house capabilities to look after all aspects of the production process.

Depending on the type of video you’re producing and the skill level of your team, this can be the cheapest option. But DIYers beware! This option only works when you have video-savvy staff and good internal systems and processes in place to help them efficiently produce the video content.

So what now?

Creating great video content – and making sure it’s easy to manage – begins with mapping out your objectives, budget and resourcing. Always think of who will watch each video and what you’d like them to do next. This will help you identify when and how to invest in video production to get the best outcomes for your business.

Nick James

Nick James is the Managing Director of Ride Free & the Co-founder/Partnerships Director of Wrappt. Over the past 8 years, Nick has focussed on client & partner acquisition, growth & innovation and been responsible for building and managing a team of progressive filmmakers.  A forward thinker with a customer-centric approach to business, Nick has driven Ride Free & Wrappt to be at the forefront of the video industry pushing the boundaries between filmmaking, digital and tech.

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