The democratization of video editing has been great for our modern civilization. Where would we be without YouTube? But this advancement has added many more video editing companies and with them come greater competition within the marketplace. You've got to learn to cut through the noise to be found by clients. We can take a look at how to gain a competitive edge and find quality leads to grow your video editing business.

Video Editing Companies

If you're thinking about jumping into the market, the first thing you want to do is focus on what kind of video editing company you'll be starting. Hone in on the type of videos you'll be cutting. The list is long: narrative films, wedding videos, music videos, graduation videos, commercials, corporate video, and many more custom video production types. You don't have to choose just one, you can sprinkle in a few areas of interest if you desire. But by focusing on a niche area, you'll be able to pay closer attention to the needs of the customers in that specific field. That will help you get your feet firmly on the ground.

Choose wisely. Some editors only want to do music videos, but they get into wedding videos to try to prop up their business. Two years later they're doing 35 weddings a year and two music videos and they are hating it. Some folks don't mine this way of working. To them a job is a job. But if you're like most creative types, you need to have your creative output. Do your best at the onset to set yourself up to be successful in the industry you want to be in, otherwise you'll find yourself looking at starting over again and again.

No matter what you choose, remember you're walking into a competitive market. You'll need tenacity to make it. If you're not focused on serving your customers the best you can, you won't be around long. Video editing companies aren't overnight successes, you've got chip away at it for awhile. Don't be discouraged, but be realistic. It's hard work to start up a business. The good news is that you should feel a lot of excitement. At this stage you can be flexible when attacking new opportunities much quicker than others. Your newness to the market and your agility can be a great competitive advantage. With the right market research you can find a wedge and get your business up and running.

Market Research for Video Editing Companies

Market research sounds complicated, but the truth is, it's not. It does take a bit of time and forethought, though. Once you've identified what kind of video editing company you want to run, it's time to start focusing on your target audience. Marketing is all about creating leads. Leads that you can sell your video editing services to. The goal of market research is to try to identify the people who would benefit from your services. These people are your target market. Sales is a different aspect altogether. Your sales will come after you've identified your leads and you have set up deals that have you actually selling to these folks.

In 2004 I was considering starting a wedding videography business. I had a lot of the equipment needed, had the skills, and enough friends within the field of videography that I thought I could make it happen. I started my market research with an email to my immediate friends and family asking them for names and phone numbers of anyone in the area that they knew were getting married. A day later I had five brides to call. Let the market research begin!

I called each bride and explained to them that I was considering starting a wedding videography business and wanted to talk to them about their thoughts on the matter for a half-hour or so. Each bride willingly agreed. With my notebook handy, I jotted down their answers to various questions:

• How important was a wedding video to them.
• Had they talked to any videographers yet or when did they plan to do so.
• What interested them most about having a wedding video.
• Was there something specifically they looked for in a custom video production.
• Had they seen a friend's wedding video that might have caught their eye.
• Did they have a specific budget for video.

I was jotting down their answers, coming up with follow-up questions and trying to draw any patterns between these potential customers.

What I discovered was that many brides really didn't know what they wanted yet. It became very clear to me that a demo reel would be absolutely necessary. That's a no brainer, but it's good to know why it's important. It also became clear to me that a website would be a great lead generation tool. Anything that could inform a potential customer of the services and type of video they could have might help them choose the right videographer. I also quickly discovered that most of the brides were attending a bridal show the following month, so, I made a point to go myself. That was the most important decision for me. At the show I was able to take a good look at the competition - seven videography companies - a very small market. Uh oh. This was not looking as good as I'd hoped.

Point Of Entry

One of the more important things you can do in your market research is identify the point of entry for you potential customers. In this case, the point of entry for most brides-to-be in my market was the local bridal show. When I chatted on the phone with these ladies, none of them had made a choice about videographers because they were all waiting for the show to narrow their sights. That was their point of entry. If you can find the point of entry of your market, then you have a better shot at competing. Better yet, if you can beat your competition to that point of entry, than you'll have a jump start and potentially steal away a good chunk of business from your competitors.