Have you ever looked at one of your marketing videos and thought, I think I paid too much for this video?
I recently had a potential customer come to me and say, “How much would you charge for one of these videos? I think I paid too much.”
Is it easy to feel like you’ve been overcharged for a video?
The short answer, is yes, but the thing is, it doesn’t matter if your budget is $5,000 or $50,000.
In fact, it has nothing to do with your budget, at all. It has to do with the fact that whether or not your video is solving a larger problem or not.
So, this potential customer shows me one of their videos and asks me, “How much would you charge for this?” And I’m thinking there are so many factors involved here, it would be super unfair to just throw out a number.
It would be unfair to them and unfair to me and I think to myself, I need to take them through my intake process before I find out what kind of budget is fair for this kind of project.
And then he said, “I feel like I was charged too much,” and a light went off in my head. This has nothing to do with the budget.
This all has to do with outcomes.
One of the first questions of my intake process is what are the outcomes you’re looking for and a bit further down, we start talking about what kind of investment you want to make to solve that problem.
So, I indulge this prospect and watch the video that they felt they spent too much money on and it checked all the boxes.
It had drone shots, it was beautifully shot, it had some animation in it, but it didn’t seem to have an overall purpose.
It was kind of an explainer, kind of a values-based thing, sort of a call to action at the end but not really.
So, it was really hard to judge what the video was actually even about and so my answer to this person wasn’t about whether or not they had spent too much money on the production of this video. It was more that they hadn’t spent any money on paying someone to care about the strategic outcomes.
If you can solve a quarter million dollar problem with a $20,000 video, why wouldn’t you do that all day, every day?
If you’re solving a $10,000 problem with a $20,000 video, now you’ve spent too much money on a video.
Marketing with video isn’t really different than any other medium, in that it’s the results that matter.
If your video is not solving your problem, then you paid too much for that video.