Tips for Making a Video Production Budget

3 Things to consider - video budget

3 Things To Consider When Building Your Video Proposal To Save You Time & Money

Hey virgins, it’s time to get your act together and put together real proposals and video production budgets that don’t leave you losing money on every job. If you’re gonna get out of your mom’s basement, you’ll have to start earning.

And we care about about you movin’ on up and actually turning a profit on your kick-ass videos – which is why we’re sharing some important things you should consider when making a video proposal.

First, cover your ass and add a contingency.

As Forrest Gump famously said, “Shit happens.”

Maybe your contracted camera op backed out last minute and you need to quickly hire someone at a higher rate. Maybe the fluorescent lighting you were banking on using in your client’s outdated office doesn’t exactly bring out the blue in his eyes, and you need to quickly rent a lighting kit so he doesn’t look ill.

Any video production vet will tell you – with every shoot comes something unexpected. So why not cover these unexpected costs with a 10% contingency instead of eating these costs when they so often pop up?

If a client is signing a proposal for quality video, they’re already committed to spending money on a solid piece.  Just explain it’s merely insurance to cover small unforeseen costs that pop up and you can avoid taking personal hits that add up over the long haul. Plus, you don’t look like a video production virgin who’s begging for an extra measly $100.

Second, do you need a project manager?

If this is your first rodeo, you may not realize all of the moving pieces required to make movie magic happen.  Depending on the size of the project, it may make sense to hire someone specifically to manage and coordinate all of these said pieces.

VPVs usually wear multiple hats, including everything from salesperson to director to production manager. At a certain point, you will realize that while traditionally you’ve ran the show and overseen every detail, your time is better spent selling new business (reality check: that time you spent managing a shoot last month was 12 hours you could have been selling your services to new clients).

While this may not be necessary for smaller shoots when you’re getting your feet wet with production, it’s something to consider on bigger productions where clear lines need to drawn on who’s responsible for what. Hire a PM and everyone involved in the video project can focus on their area of expertise – making production smoother and more cost efficient.

Lastly, don’t forget the music.

Cheesy stock music ruins videos - Joey from Full House agrees.
Cheesy stock music ruins videos – Joey from Full House agrees.

A beautifully shot high quality video can look as cheesy as a Full House episode if you skimp on your budget for music.  Even as a video production virgin, you should be well aware that corny stock songs you’re buying for $20 are going to make your videos feel cheap and amateur.

Quality tracks can cost a penny, but finding the right track or working with musicians to create custom tunes specific to your video will take your final product to the next level. Marmoset Music provides affordable, quality music and the option to customize your tracks to fit your specific project. Other sites worth noting are musicbed.com and premiumbeat.com.

So don’t be a fool and overlook this vital cost. Be realistic with clients and explain the value in putting money towards the right music. It may be pricey, but hey, musicians have gotta eat too.

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