Video business

Secrets of the video production trade

I just met with a fellow video producer today that has his own company and is expanding his reach.  He started in live events and weddings and has moved to corporate weddings.  I’ve noticed most professional videographers take that coarse.  Interesting.

Here is a secret of landing that big contract with the large company.  Let’s say you are working with company X and they are a medium size company with no marketing/video branch.  If come right out and tell them you will create a video for $20,000 (or $10,000 or even $2000) always tell them what the “big companies” are charging.  “They usually charge $50,000+ for this scope  of work.  Since I am a smaller company and am more nimble, I can cut costs while still creating a great video”.  When they drop their jaw at $50,000 for a video and you mention, $20,000 for the same video, your price will seem great.  But, if you drop your price right away, they may be expecting to pay half that ($10,000 or less).  It’s only a perception thing but it helps.  Make sure you lay out the benefits to the video and how it will: 1) save them money 2) earn them money 3) inform their customers or 4) train their employees…  You get the idea.

What do you think?