Good. Fast. Low Cost. Choose 2.
Setting: A conference room.
A CMO, marketing director, and marketing specialist discuss a proposed budget from a production company.
Marketing Director: “Where did they get those production numbers? They want WHAT for animation? And a ‘cat wrangler’?”
Marketing Specialist: “Uh, I think it has to do with the concept, and…”
Marketing Director: “Concept? They don’t even understand our vision for the content campaign.”
CMO: “I thought my vision was clear.”
Marketing Director: “Tell them to come back with better numbers. We’re not hiring friggin’ Spielberg.”
Sound familiar?
Companies and video production creatives often prioritize discussing new concepts and marketing content initially, delaying the budget discussion until later.
Marketing departments and creatives may spend considerable time in meetings and brainstorming sessions, leaving feeling aligned. Clients often think, “They really get it. They really do get our company’s vision for our new video marketing content.”
Then financial reality arrives when the production company submits its estimate.
So what’s the solution?
At Kestum Bilt, the approach emphasized honesty regarding advertising and production expenses, upfront, not after the concept work was already done.
Three ways production companies can avoid this conversation
- Organizations should understand how budgets are created for video production before developing content concepts.
- Video production companies need to be transparent and explain estimated budgets rather than simply providing a figure.
- Offering multiple budget options instead of a single proposal helps break down line items and puts clients in control of financial decisions.