People generally prefer consuming visual content over text-based content when accessing helpful information.
Conveying your message through videos is much easier than sharing other forms of content with your target audience.
This is why businesses actively invest in video production, as visual content drives more engagement.
However, getting started with video production is not as easy as it sounds, especially when you’ve just started. You need equipment that streamlines your production process and helps you produce quality content for your audience.
While this may seem intimidating due to cost investment and limited resources, we’re here to help beginner video creators like you.
Here’s how you can create a video production budget to make low-budget videos without compromising on the quality of your content:
Setting a Realistic Budget
Before diving into video production, it’s best to assess your financial stability and get an idea of how much you can spend during the process without running into problems.
To set a realistic budget, you must first assess your overall financial situation and decide on the maximum amount you can allocate to video production.
If you have limited funds and resources, it may not be the right time to start creating complex videos. Even if you go down that road, you should look for affordable options for the equipment or resources needed.
Even if you stick to the affordable ways, you can still create meaningful video content and engage your target audience.
Consider leveraging stock video options and sharing engaging visual content with your audience, having to bear little or no production cost.
However, if you choose to start producing your videos, you must carefully categorize the equipment, software, location, talent, and miscellaneous costs associated with the process.
Determine Content Complexity
The complexity of your visual content and the type of videos you want to create significantly influence the cost incurred for beginner video creators and editors during the production process.
The same goes for the length of your content, as lengthy videos require more resources and time to make.
To create your video production budget effectively, you should clearly define the scope of your videos. You should have a clear idea of whether it will be a simple project like shooting a product video or a complex one where you have to tell a story.
Based on the scope of your video, you can come up with a list of resources you may need and a budget estimation for your content.
Equipment
Once you have carefully assessed your situation and decided to dive into video production, the next step is to list the equipment you may need.
The standard equipment required for video production includes cameras, audio equipment, and lighting tools.
Camera Options
The camera options for beginner video creators include high-end smartphones and entry-level DSLRs. As you grow and have a larger budget, you can consider other high-end options.
A standard high-end smartphone may cost around $1,000, and entry-level DSLRs range from $300 to $700.
If you have a smaller budget, consider renting the equipment and reducing costs. This may not be a viable strategy if you want to create video content in the long run, but it is more of a temporary solution.
Audio Equipment
Consider a high-quality microphone, headset, tripod, gimbal, and other valuable accessories for audio equipment.
For budget microphones, consider buying Lavalier mics for around $50 or Shotgun mics for around $100.
For a headset, you may consider the Sony MDR7506 headphones, which cost around $100.
You can also save money for other accessories, such as investing in soundproof padding to improve the audio quality of your videos (which would add another $100 to your budget).
Lighting Solutions
Standard lighting equipment required for videography includes a key light, a fill light, and a backlight. Basic lighting kits, which cost around $150, are an excellent option for beginner video creators.
If you want to save some money, you can consider doing it yourself and creating lighting equipment for video production using household lamps and natural light for the shoot.
You can also consider renting the lighting equipment, but again, this is a temporary solution and not feasible in the long run.
Software and Editing Tools
You need to account for digital solutions in your budget that can help you edit the raw footage and transform it into high-quality visual content.
Free and Low-Cost Editing Software
When it comes to editing your videos, there are several options, such as Adobe Premiere Pro, iMovie, DaVinci Resolve, Final Cut Pro, Lightworks, and so on.
For beginner video creators or editors who use a Mac, iMovie is a free editing software worth considering.
For users who prefer other operating systems, DaVinci Resolve and Lightworks are decent editing solutions when getting started, as you can simply use their free versions.
You can also consider premium editing tools with advanced capabilities. It all depends on your requirements and preferences. You may want to explore suggested alternatives and see which one works best for you.
Additional Tools
You may need additional digital solutions for the video editing process; for example, royalty-free music and stock footage will facilitate your way through sound editing.
These resources will help you amplify the experience you offer through your videos and create high-quality, engaging content.
Location and Set Design
Even if you’re a beginner video creator, you may need a location or a set to carry out your production tasks.
Choosing a Location
Consider renting a place, leveraging public spaces, or using your home as the production facility.
If you choose to rent a studio or production space, you may need to create a production schedule to estimate the costs accurately.
Production facilities or studios may charge you an hourly rate or a lump sum amount per day. You need to account for these in your production budget. This will help you optimally utilize your budget and avoid unnecessary expenses.
Using public spaces or your home as a production facility are also great options for beginner video creators.
Set Design on a Budget
If you decide to use your home as a production facility, you can make do with a simple background setup using your furniture and decor. This will save you a considerable amount of money on props and decorations.
Props play a crucial role in helping you create high-quality video content. They allow you create the desired ambiance that complements the message you want to convey or the story you wish to tell your audience.
Props help you offer an immersive experience to your target audience and successfully create engaging content as they complement the video creation process.
Props are essential and should be a part of the production budget. They are used as objects in the background that breathe life into the scenes.
You can buy the props you want to use during the production or consider renting them. Renting props is generally a better option. However, if you create the same type of videos, purchasing them may also be a viable option.
Depending on your chosen option, you may have to adjust your production budget.
Talent and Crew Onboarding
The production process comprises different tasks. To perform these tasks efficiently, you must build a crew or onboard a team of talented individuals.
The the complexity of the visual content you want to cr dictates the size and skills of your creweate. But since you’re a beginner video creator, your spending power is limited, and you need to consider that.
The best option for you is to consider taking the help of your friends or family, as it will save a considerable amount of your budget.
For now, you should refrain from creating content that requires the participation of professional actors, which will cost you a considerable amount.
However, you may still need a crew to help you with mainstream tasks during the production process. So, consider hiring a few people on daily wages.
Production Tips and Cost-Saving Strategies
Beginner video creators can everage the following production tips and cost-saving strategies.
Efficient Shooting Techniques
Rather than creating content or shooting videos on a daily basis, consider doing that in bulk. This is called batch shooting, and it’s an excellent strategy that can save you a lot of time and money.
Even if you use your home as the location for your shoot and ask your friends or family to help you during the production process, there will still be some cost associated with the content you create.
Batch shooting will help you minimize that cost, as you will be making the most of the resources and creating as much quality content as you can.
It’s also best to streamline the shoot with pre-production planning. The goal here is to minimize the interruptions or roadblocks that may lead to shoot cancellations or unnecessary delays, likely increasing production costs.
Cost-Saving Tips
Beginner video creators can significantly reduce production costs by renting the equipment needed to create content rather than buying it.
Buying things you may or may not need for upcoming videos is not viable when you have limited funding and resources. So, renting the equipment or props may be a better option.
Consider leveraging community resources or locations for production and saving your budget. As for the actors and crew, you can ask your friends or consider hiring local talent, which will cost you much less.
Post-Production Process
The post-production process is the stage where you have completed the filming process and move to the phase where you will edit and assemble the raw footage and add sound effects to fine-tune the final product.
Beginner video creators don’t need an editing facility; you can simply edit the videos from home or a cafe nearby. However, creating a dedicated workspace at your home for such tasks may help improve your focus and boost your productivity.
We have already recommended affordable options for the editing tools you may need for the process in this article.
For small to medium-scale projects, consider leveraging Envato, a one-stop solution that may suffice for all your post-production needs.
Distribution and Marketing
Leveraging social media platforms may be your best bet to distribute or market your videos. Social media has over 5.04 billion users worldwide. So, using the right platforms can help you reach the right audience.
For beginner video creators, promoting your content organically would be a viable strategy. It may take more time for you to generate results. But it won’t cause a significant dent in your wallet.
However, to drive quick results, leverage paid advertising to amplify your reach and engage the intended audience. You can reach over 2 billion users on Facebook alone through ads and effortlessly attract a relevant audience.
However, if you choose to leverage paid advertising, your marketing budget may be slightly higher than if you promote your visual content organically.
You can consider social media platforms like YouTube, TikTok, Instagram, Facebook, and Vimeo to distribute or market your content.
Iterate the Process
Once you have completed the project, look for areas for improvement. Identify the mistakes you made and consider necessary improvements.
To optimally utilize your funds and resources, it’s essential to iterate the budgeting process from time to time.
This ensures continuous improvement and helps you efficiently plan the production budget for your upcoming projects.
Final Words
This article discusses creating a video production budget for beginner video content creators and editors.
If you want to create engaging video content without causing a dent in your wallet, the recommendations in this article may help you efficiently plan your production budget.
Author Bio
Syed Balkhi is the founder of WPBeginner, the largest free WordPress resource site. With over 10 years of experience, he’s the leading WordPress expert in the industry. You can learn more about Syed and his portfolio of companies by following him on his social media networks.
