Having the support of your manager, executive team, or CEO is instrumental in successfully bringing video in-house.
The good news is it really can be an easy sell – you’ll be able to produce more videos at a fraction of the cost.
Let’s dive into each of these a little deeper.
Produce More Videos
I’m not sure I’ve run into anyone who discounts the value of using videos to promote their business or its products/services. But here are some stats to back-up the importance of including videos in your marketing efforts.
- 85% of internet users in the United States watch online video content on a monthly basis (Statista, 2018)
- 54-57% of consumers from ages 18 to 54 want to see more video content from a brand or business they support (HubSpot, 2018)
- Video ads are the #1 way that consumers find out about a new brand or product before purchasing (Animoto, 2018)
- Need more video stats? Click here and/or here.
So if using video in your marketing efforts is an obvious approach to being more effective in promoting your business, it would make sense that being able to produce more videos would be valuable.
Save Money
Have you outsourced any video projects in the past year or two?
If so, that’s an easy way to provide an apples-to-apples comparison as part of your sales pitch:
“We paid X amount to produce this video. By spending a fraction of that amount, we can get the equipment we need to produce our own videos. Moving forward, we can produce as many videos as we want, and the only cost to the company is my time.”
If your company has never produced a video, and you have no comparison to use, what you need to know for your sales pitch is that having someone create videos on your behalf is expensive; really expensive.
If you can find someone to do a project for you for $5,000, I’d be impressed. More likely, you are looking at $10,000-$15,000 on the low end.
To give you some real life numbers to work from, here are some examples of outsourced projects I was involved with:
- 2.5 minute interview style video with footage from 5 interviews; one day of filming = $18,000
- Three 4 minute interview style videos with footage from about 30 interviews; editing only (filming done in-house) = $15,000
- 30 minute news desk style informational video; filmed in one day at production company’s studio = $50,000
These projects/costs span multiple companies in multiple regions of the USA. And none of them were major markets – like New York City, Los Angeles, or San Francisco – that would make you try to justify the high cost. If you’re in those markets, I can’t even imagine what you’d be paying…
Conclusion
It’s really helpful to have your company’s support on this, because while you can absolutely get started on a shoestring, once you get going, there are things that will make your life easier – like a computer powerful enough to run Premiere effectively or a better source to capture audio.
Sell the idea that paying an external production company for one video is likely 2-3 times the amount of money you’d need to get some good quality equipment. You’d then be able to make as many videos as they want.
Your marketing output goes through the roof. They save money. It’s a win all the way around.
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