Friday, April 26, 2019

There are several questions I believe you may concern in term of pricing your video production services. To follow up the part 1, a couple solutions from some questions you may have when pricing to fit your client briefs. This post I also used PLVisual Company and Adam Forgione’s pricing formula discussion as the reference.

What if clients want to squeeze your timeline you proposed because they think reducing your timeline means reducing the money to pay?

This idea probably comes from the hourly rate you charge in the quote. The hourly rate we make includes when we come to the shoot and go home, this means it including the time for setting up and travel if the shoot involved more than 1 location. If you include your work hour estimate, make sure you quote it in a package. For example, 1-day filming (10 hours): $2000. If your clients want to squeeze the timeline after breaking the price down hour-by-hour, the best way to solve this problem is communication, show them your realistic and reasonable timeline.

Clients’ thought: either reducing your crew member or reducing your timeline means reducing money

With every shoot, 2 factors involving in our time and human resources. If your clients want you to reduce the number of crew members and you think it is not possible to complete the project on your estimate timeline if the number of crew members reduced, you should communicate with your clients first and explain to them why you come up with this plan. The last option if they keep that requirement is expanding the working time, even reach to the extra hour, which is sometimes more than the initial price we charge. With time reduction requirement, we apply the similar strategy which is increasing your crew members. Again, the key thing here is communication. If you can show them your plan ensures the quality of the project and saves your clients’ money, they are more than happy to approve your plan.

Carefully notice in detail when pricing preproduction

With preproduction, sub-categories in detail of what involved in the work are also considered. As we know that different departments have a different price to charge and all is about estimate the time we work on including emailing, calling back and forth with clients and our suppliers. Building the estimate for each subcategory will give your clients a better understanding of what we do and also the time we spend as well. This should be built in an extra quote.

How can I quote if the shoot requires inter-regional travel?

If the shoot requires business travel, the quote for travel should also be given. The way to calculate it suggested is base cost + travel fee + half hourly rate. You may also think of reducing the base cost a bit, as your clients will raise the questions about this cost. The best way to present it is adding this cost to ether travel fee or the hourly rate. Remember, the travel fee includes accommodation and transport fares with a reasonable plan. To illustrate, the 2-day shoot in Sydney for the crew from Brisbane. The plan is 2 x 3-hour flight (come and return), plus transport fares to the accommodation and shoot, plus 3-day accommodation. The hourly rate we can charge from the time all the crew in the airport to begin the business trip until all of them leave the airport customs.

Post-production estimate heads up

With the post-production, giving the range of time and heads-up to your clients how many hours you need to finish the project. Be honest to them is key, charge them based on the number of hours the editor do, so you can keep your clients happy and you are happy, too.

In the end, it is just the reference for you to go with, the pricing based on your professional skills, your segmentation, and demand and supply rule. This will be discussed more in another topic.

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