When creating branded films: What to think about when budgeting
When budgeting for a branded video, it’s important to balance your goals with the resources required to achieve a high-quality outcome.
Here are key factors to consider:
- Define Your Goals and Scope: What’s the purpose of the video? A simple explainer video may require a smaller budget, while a large-scale commercial with multiple locations and actors will cost more.
- Production Quality: costs money, also you get what you pay for. It’s that simple. The fast, cheap, good triangle applies here.
- Pre-Production Costs: These are expenses for concept development, scriptwriting, storyboarding, casting, and location scouting. A solid pre-production plan ensures a smoother shoot.
- Production Costs: Account for crew, talent, equipment rentals, set design, and shooting locations. Complex shoots with specialized effects or multiple locations always require a larger budget.
- Post-Production Costs: Editing, color grading, sound design, music licensing, and special effects are critical to the final product and will be a significant part of your budget.
- Length and Format: Longer videos or multiple edits for different platforms (social media, website, ads) increases costs.
- Distribution Strategy: Budget for promoting your video, such as running ads, boosting posts, or hosting on premium platforms to maximize reach and impact. Major studio films’ budgets are almost equal to the budget it took to make the film.
- Contingency Funds: Set aside 10-15% of your budget for unexpected costs, such as reshoots or last-minute changes.
- Partnering with Professionals: Hiring an experienced production team may have higher upfront costs but ensures a polished result that reflects well on your brand. Inexperience is expensive on set.