Pricing Video Production Services
So you’re wondering what to charge or want to increase your prices?
Pricing videos can be a difficult task, and when done wrong, you end up making a loss or selling your life away...
So if you want to stop trading your time for money and learn how to price video production the right way, then these video pricing strategies & tips are for you!
When deciding how much to charge for video work, it is crucial to not make yourself fall victim to common mistakes and misconceptions I see in our industry by blindly following what everyone else is doing.
Most filmmakers and content creators out there don’t understand the actual value of their work, and it’s become a race to the bottom in today’s marketplace.
So grab a pen and paper, and let’s craft your video pricing strategy!
Value Based Video Pricing VS Hourly Rates
First, you’ll learn why you should price on the actual value you’re bringing to your client instead of the actual amount of work involved. As you see in the video, this is by far the most important factor involved when thinking about your pricing strategy.
You’ll also learn why you should never look at your competitor's prices or offering and how you should craft your actual service, message, and pricing instead.
Then I will show you why you should stop custom quoting every single project and how you can make sure the prospect is qualified before you send out that quote and lose all control waiting for that email. This process will help you prevent prospects from “price fishing,” trying to get custom quotes from several production companies.
Once we got rid of the custom quotes, it’s time to get rid of charging hourly, and I will show you how and why pricing on value makes much more sense for both you and the client.
To make sure you never make a loss, we obviously still need to calculate the production costs, but we don’t use the costs to justify your worth.
Now that you know how to calculate your production costs, it’s time to get you off the hamster wheel and understand the concept of “Opportunity Cost.” Most filmmakers are stuck working IN their business and never have time working ON their business, and you will learn how to combat this.
Finally - once you escaped the race to the bottom and stopped trading time for money, it’s time to keep increasing your price and learn how to communicate your value to potential clients in the right way.
Because no matter how amazing your work or service is - if you fail to communicate your value, you will have a VERY hard time standing out and competing in today’s cutthroat video production industry.