Once you have worked with a video production company to create a marketing presentation for your business, you might be inclined to hire the same company again when a new need arises. As you and your team estimate the cost, feel free to use the budget from the previous video production as a starting point, but don’t assume that both budgets will be exactly the same.
Different video projects can vary greatly, depending on the size, scope, and style. The budget for building a 4,000 sq. ft. home will be vastly different from building a small cabin in the mountains. Even though they are both considered “houses,” the costs in creating each structure will be different. Even if you are using the same video production company a second or third time, the budget for each video can change. For example, an overview video of the company and its history is different from a client testimonial video. And a testimonial video is different from an internal training piece. These are important distinctions to make, because I don’t want you to be in a situation where you have already budgeted “X” on a new video, and the actual budget turns out to be more than you anticipated. Both client and video producer need to be open and honest about what’s expected and what can be delivered, regardless of how long each they have been working together.