If you have experience in so-called videography or have been doing some video documentary work, and plan to go into the making of video marketing content for businesses and companies, now is the right time to get involved and grow your video marketing business.
Experts say that it is not just a matter of shooting a subject aimlessly without a storyboard or plan and uploading it on YouTube as many amateurs have been doing, but more of a well-organized, proactively planned activity that needs investment.
Investing in a video marketing business needs a feasibility study or business plan to be able to forecast the probable profits based on the existing market. One assumption in this business is that the market is a global one and the target clientele are the large, medium and small-scale businesses and companies that need to produce video marketing content for their specific products and, or services.
You will need to invest money, time and talent in a video marketing business in three primary modes: The production process, the post-production process, and finally the distribution process. These are the three interrelated components of the industry. Besides, you will need to address the levels of online video quality and cost.
A second assumption is that most companies and businesses don’t have the experience, talent, equipment and organization to undertake a challenging work of producing a video marketing project for their product(s) or service(s) and need an external outfit to assume the task.
Dr. Lee Frederiksen of Hinge Marketing categorizes five levels of online video quality and cost. First is the Amateur level where many are doing. With a cell phone camera, you can do-it-yourself. It’s fast and inexpensive but contains risks if one is not careful. This level can be used for personal blogs. Cost is free.
The second level is the Semi-Pro that requires some experience and the use of some sophisticated camera and video editing software, with wide variations in quality, for use in video blogs and event capture at the cost of $1,500 – $3,000 for a one to two-minute video.
The third level is the Professional one, using tools that produce an output similar to a corporate online video, for use in case studies, profiles, service or process descriptions, and as recruiting video, at the cost of $5,000 – $20,000 for a 2-minute video.
The fourth level is the Premium one, normally studio-based, using top-level talent, high-end equipment and editing software that tells a compelling story with exceptional results. Cost is $25,000 – $50,000 per 1 to 2-minute video.
The fifth and highest level is the Hollywood class, ultra-premium technology and competitive, designed for large global firms for use in high-end advertising and marketing costing $100,000 – $1,000,000 plus for 1 to 2-minute video.
You can make your video marketing business grow by identifying the level of service that you want to undertake based on your experience, capacity, and investment. For a starter, you can open a website and begin sending proposals to small-scale to medium-sized businesses.