Cost analysis (example) of DIY vs. Produced video

If you’ve been following me for a while, you’ll know that one of the big things that I advocate for within my business is being smart with your video production budget. It’s why I have affordable production packages, have a pick ‘n’ mix approach to large virtual events and teach people how to DIY. 

It’s all about being smart with your time and your money so that you’re content goes further and has a bigger impact!

So, off the back of multiple conversations this week I want to ask you a question...

Have you ever considered filming a video yourself in your office or at home

because it seemed like a good way to decrease costs?

If you answered yes, what’s coming next is going to be right up your alley.

As a business owner I understand the adage ‘time is money’ and it almost certainly applies to any business but we do have to make sure we’re considering all angles of that statement to ensure we’re accounting for all time and all money.

And now a second question…

Have you actually done the maths to make sure it’s worth it?

Sometimes DIY and the perceived ‘benefits’ of DIY can be a common misconception in the world of video. 

Let me break it down.

If you are going to film your own video to save on cost, you need to ask yourself the following questions:

• How much is my time worth? 
• Am I proficient in this skill set so that my time is maximised?
• Is this endeavour going to cost me far more time and therefore money than if I handed it to an expert who was more efficient and proficient and therefore more effective?
• Do I need to purchase additional equipment to ensure that the quality of video remains high?

So for example, if your time is worth $250/hr and it takes you 6 hours to record 4 videos - that’s $1500 it’s already cost you to film. Don’t forget you still need to have the footage edited.

When you take your video to an editor they effectively need to invoice you for the amount of hours of footage you give them because they have to watch it in order to edit it. So if you give them 4 hours of footage, you now have the additional cost of 4 x $RATE and that’s not including the actual editing yet.

Can you see how that adds up quickly?

Contrast this with, spending 2 hours filming with a professional. Feeling confident and empowered in front of the camera, and being safe in the knowledge that you’ll look and feel fantastic on the finished product.

Your time investment: 2 hours + script writing time.

Your money investment: $2,000*

The result: 4x 2-5 minute polished, professional videos which are filmed, edited and ready to use same day!

*Based on our Social Thought Leadership Package, and exclusive of gst

Now this is just the tip of the iceberg, maximising your budget and leveraging your valuable time when it comes to video production is a sliding scale.

I encourage you to explore it.