1. Plan ahead, a lot
Know exactly what you’re making and why. Plan in detail how you will make each stage happen. Scripts, storyboards, location scouts and pre-production meetings can’t be skipped. These will all prove invaluable in creating a smoother production experience.
2. Be realistic
Set a realistic budget and then add at least 10% extra on top for unexpected expenses. If you don’t end up using this then you’ll be a hero for coming in under budget.
3. Get sign off from the start
Ensure the most senior person to sign off on your final video has some oversight of your preparation. This avoids any unpleasant surprises if it’s too late to change anything the first time they see it.
4. Avoid re-shoots by planning for them
Re-shoots can double your costs. One way to avoid this is to intentionally plan for a second phase of your shoot.
By reserving some of your production budget for a second shoot, you can pick up the missing pieces or the shots you didn’t know you’d need more efficiently.
By editing the main spine of your video before your second shoot, you’ll not only see what’s working but you’ll have avoided wasting budget on elements that will never make the cut in the first place.
This usually works best for interview based projects where you’re not 100% sure what they are going to say.
5. Double-up on talent
One practical way to reduce your costs is hiring individuals who can perform multiple roles. For example, hiring an editor who can also do motion graphics, or directors who can also produce.
While this saves money, bear in mind that you might lose depth or speed by having one person juggle multiple tasks.
6. Invest in creativity
If you've watched the examples in this article, you’ll have noticed that investing in creative ideas and strong writing pays off — especially when paired with talented direction.
The writing in the Dollar Shave Club and Soapbox commercials is a perfect example: it’s concise, punchy and memorable. The camera work and lighting might not be world-class, but they don’t need to be.
To make your video stand out from the flood of content we see every day, the best return on investment comes from hiring genuine creative talent.
How LucidLink helps cut video production cost
LucidLink’s storage collaboration platform makes it simple to save money on video production.
By giving your team instant remote access to a shared file storage space in the cloud, LucidLink keeps everyone in sync. Better still, it acts just like a hard drive, so you can keep using the same tools and workflows you do every day.
With a single source of truth for all your video production assets, LucidLink can save you a ton of time (and money) on:
Managing video assets
Sending large files
Keeping projects in sync
Onboarding freelancers
Uploading and downloading files
Updating new versions
Maintaining expensive storage hardware
Buying more storage capacity
See how much your team could save with our handy video production cost calculator.
