Optimizing Business Of Video Production
November 20th, 2008 by Seth Kenvin
Video producers are my heroes. And I am sure I speak for all of my colleagues. Our primary activity at work is contemplating the business of video production and how we can improve it. Here is the big picture on what we endeavor to do:
The total volume of business a producer does is basically the product of the pricing level he or she is able to achieve multipled by the volume of business he or she does. If every project is at the same price, then annual revenues equals that price times the number of projects done in a year, as simplified through representation in the image below.
By utilizing video.Market7.com we submit that a producer can significantly improve efficiency. Examples range from consolidating to one powerful environment what used to be spread across multiple programs and systems, to reducing the amount of extra iterations on scripting or post-production because of clearer communications among team members for stronger consesnsus. Such improvements in efficiency expand the capacity of business a producer could take on.
Furthermore, video.Market7 can be leveraged to fill the new capacity with increased business volume. Drivers can include integrating the Web service into the pitch to clients to impress them with the professional, organized and even fun environment in which the project’s collaboration will occur. And more satisfied clients through better production experiences are more likely to be retained and become repeat customers and also be better referrers to new business. All of these factors expand a producer’s business opportunities.
With more integrated and consistent execution from conceptualization of a project, through pre-production steps like scripting and storyboarding, and onto reviewing footage to guide edits during post-production, a producer using video.Market7 can enhance service to his or her clients. Over time this better caliber experience can be part of that producer justifying higher pricing to expand the rectangle in another dimension and thus multiply its area representing the producer’s overall business.
We realize that it’s bold these days to propose a new service with optimistic promises of business growth in a challenging economic environment. And we don’t claim we can drive complete realization of these benefits immediately. For one thing there’s a lot more software to enhance video production that we still intend to build. But already we believe we can help producers compete more effectively to win and retain business, and through continuing close interaction with our heroes, we look forward to realizing the whole vision of this basic business lecture that ends here.
