I'm writing this article when yet again I hit a wall when communicating with clients due to pricing. Yes, I am the most affordable option local to your area for the greatest quality. When I go to a restaurant, I often ask: "What's the most bang for your buck?" It's a simple question, I want to know which of the $20.00 plates will weigh the most and provide the greatest amount of calories and last the longest before I get hungry again in 2 hours. Well, if I want more food, I need to pay more money. I'm guilty of being disappointing because I could go and spend $20.00 at a local supermarket and fill myself up for an entire day. I get it, people are disappointed when the appropriate budget for a video or photo shoot is in the thousands when they are looking to spend in the hundreds. "Well I could rent a camera and do it myself and save some money". Yes, that's true, but then you'll get amature work. It's funny. People go to both extremes: "How much do you think they spent on that avengers movie?" - Probably 2-3 billion dollars, that's why I'll spend 12.00 to see it in the theater. How much do they claim to have spent?
220million. Wow... Now how much to make a promotional video for your event? I guarantee 50-100 dollars is the wrong answer. I see your logic, I hear you loud and clear. "The event is only 5 hours, that's 10-20 dollars an hour" Well, events actually call for more cameras than a studio production. More backups and safeguards to capture the moment, ect. What is a fare rate? 2-4 thousand. What the majority of clients expect? Why? Let's say you have a budget of 50k dollars. Allocate enough of that budget to accommodate the costs of recording it. If you run out, and only have 1 thousand for shooting and editing an entire day's worth of work, with multiple cameras, you're shooting yourself in the foot. The best bang for your buck is to spend more so that it ensures the quality you need. If you have a budget for an event, and you have 50k to spend, you have to decide if you really want it to be captured. Because anything below 1k dollars is going to do the opposite effect, it's going to hurt, not help, you. It's the same as not eating all day and then going into McDonalds and asking for a single fry. You're going to be extra hungry because you've smelt and tasted food and yet you don't have enough money to satisfy your hunger.
1-2 thousand for a small production in an controlled environment with the ability to say "Try again".
3-5 thousand for a decent video of a wedding or other day-event. (Will look like a trailer.)
10-15 thousand for a well-done video with professional quality. (Will capture every minute of the event.)
20k-250k for commercial. This video needs to sell your product or service. It needs to be well done and professional otherwise it will hurt your business and growth. An amature video will have the opposite effect of a well-done video.