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March 30, 2013 at 9:06 AM #55801VyVProdParticipant
This is my first time posting on this forum so I'm still trying to get use to it. I've been doing a bit of videography for the past few years in local television and well as for individuals and businesses recently. In the near future I'd like to open up a shop with a colleague of mine to produce videos full time.
I've been looking into our market and it seems flooded with corporate and commercial videographers. We have a number of large retail headquarters, insurance, and high tech industries in our area in Northern New England. But we also have a strong maritime industry and a strong local economy with small business owners.
The issue for me is that we don't want to do the same thing everyone else does. We've luckily been able to do a variety of different video productions through our past work, so we're well informed and more than capable of doing most any video productions. Being the say, 11th person doing corporate video in our area wouldn't be effective, worth our while, or profitable – though of course if someone asks us to do a video for them in the corporate area we'd do it.
I've been looking into real esate videos with little luck, as well as throwing myself down the music video track, but it's not always the most profitable especially in our area.
Recently I was looking at insurance inventory videos. It's not "creative" or "interesting" to most videographers, but we're able to compensate for that with our other projects. I was wondering if anyone has heard of a videographer doing this, or heard anything in general about this niche? I think, pricing it correctly and having enough volume to profit off it. Being in an area that has a long history with insurance (property/homeowners/business) and having two insurance giants have regional and corporate headquarters in our area is a help to us.
I would offer the services at between $150-$250/video, with 3 hours work being put into it (from the production time to the editing), and give them a digital copy (as well as the agent depending on who I'm marketing this service to) and offer to keep a permanent copy in our archives in case anything happens.
So my questions are:
1) Has anyone been in this market, know anything about it, or could provide any other helpful info to me (insurance inventory videos)?
2) Who do you think I should market this to? To individuals on a one by one basis through some sort of marketing campaign or to local insurance agents to provide to their current clients and offer them a small portion of the profits to compensate them for their referrals (of course, after a sale is made)?
3) Any other ideas for "niche" videos?
Thanks for your help in advance guys! Have a great weekend!
March 30, 2013 at 1:39 PM #206747ginayarParticipant
Marketing to consumers might be tough nut to crack. Many will do the video themselves rather than pay someone else to do it for them. The reply you might hear is, "I have video on my Iphone, I can do it myself."
Instead, I recommend marketing to insurance companies. I knew a guy who does photos for insurance companies on the investigative side-insurance fraud abuse. He was making good very money. You may want to look into that side of insurance companies. Tell them you've previously worked in television news broadcast, that should peak their interest. Smaller insurance companies are buried in paper work to go out and investigate possible insurance fraud cases.
You may also want to look into doing video for private law and investigation firms as well. That side of the business could be lucrative.
I don't work in that market because of other work commitments, but if I had to start all over again, I would target it.
March 30, 2013 at 4:56 PM #206750VyVProdParticipant
Thanks for the response. I appreciate the help! As I said, we have a number of insurance companies in our area ranging from family-run operations to multinational corporations headquartered around here.
I'll look into it further and see what I can find. I've been doing commercials and music videos for some clients, but looking at my competition in that area I need to be different from the rest.
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