What Marketing Directors Need to Know About Budgeting for Video Production

Nov 5

Video production is a powerful tool for connecting with audiences, but budgeting for it can be challenging. At Fragrant Film, we work with marketing directors to maximize their investment in high-quality content. Here are the essentials to consider when budgeting for video production, along with tips to make the most of every dollar.

1. Understand Key Cost Drivers

Video production costs can vary widely based on video length, location, equipment, and post-production. Here’s a quick breakdown:

Pre-Production: Planning, scripting, and storyboarding can require significant time, especially for larger projects.
Crew and Equipment: High-quality gear and skilled crew members ensure a professional result.
Location: Shooting on-location can add costs, especially if permits or custom sets are needed.
Post-Production: Editing, color grading, and sound design are essential for polished results but add to the budget.

Pro Tip: Discuss key elements with your production team early on to focus resources where they’ll have the most impact.

2. Set Clear Goals for Smarter Budget Allocation

Having clear objectives makes it easier to prioritize elements in your budget. If your primary goal is conversions, prioritize product-focused shots and efficient editing. For brand awareness, invest in high-impact visuals and dynamic storytelling.

Pro Tip: Aligning your budget with your end goals lets you use resources strategically, making each dollar count.

3. Forgotten Components That Hike Up a Budget

It’s easy to overlook elements that quickly add up, especially if you’re shooting far from a major market like Dallas. Shooting near a major hub reduces costs since you’ll have easy access to rental houses, talent, and crew without added travel expenses. But if your location is remote, expect to cover costs for motorhomes, portable restrooms, and crew travel.

Considerations:

Overtime: After 10–12 hours, overtime kicks in. Avoid this with proper planning, like scouting with department heads to streamline the schedule. Sometimes, a well-planned 14-hour day is more affordable than splitting into two days.
Company Moves: Every location change increases costs due to setup and travel time. Filming in a studio or a single location with multiple set options is ideal to minimize “company moves” and reduce production days.

Pro Tip: When planning, consider how location, travel, and overtime can impact your budget. Choosing a hub or a flexible location can keep costs down significantly.

4. Maximizing Efficiency with Innovative Gear

Our Motocrane and Ranger Raptor setup might seem like an added expense, but it actually allows us to work more efficiently and reduce overall costs. This setup gives us a mobile camera jib that can be ready to shoot in under 30 seconds. Where moving crew and equipment can often take an hour or more on-site, the Motocrane lets us capture high-quality gimbal and jib shots quickly and seamlessly.

This mobility allows us to get more shots done in a day, effectively reducing the number of production days required. By streamlining the shoot, we’re able to maintain high production value while keeping the budget manageable.

Pro Tip: Investing in equipment that enhances efficiency can save significant time and cost on-location, allowing for more shots and fewer shoot days.

5. Plan for Contingencies

Even with the best planning, surprises happen. Weather, extra location fees, and additional editing can all add up. A contingency fund of 10–15% ensures you’re prepared for the unexpected.

Pro Tip: Including a small buffer in your budget allows for flexibility without sacrificing quality if challenges arise.

6. Collaborate with Your Production Partner

Your production team is there to help you get the most out of your budget. At Fragrant Film, we offer cost-effective solutions without compromising quality, from simplifying set designs to optimizing shoot schedules.

Pro Tip: Choose a production partner willing to offer budget-friendly solutions. Openness and collaboration can make a significant difference in managing costs effectively.

Final Thoughts: Making Your Budget Work Harder

Budgeting for video production doesn’t have to be overwhelming. By understanding cost drivers, setting clear goals, and prioritizing key elements, you can create high-impact content that achieves your marketing objectives.

At Fragrant Film, we’re dedicated to delivering quality results within your budget. Let’s work together to bring your brand story to life. Visit Fragrant Film to start planning your next project with a team that values transparency and collaboration.