Have you ever had trouble pinpointing a price for the work you do on your video productions? Don’t feel bad if you have because it’s an experience we all go through at some point. It’s difficult to try and balance between being fair and making profit, so Youtube channel YCImaging is here to let you know what you should be keeping in mind when deciding what price you’re going to charge for your work.
First, know what you have to pay for during production.
Think of things that you’ll have to do before and during the production process like renting equipment or paying your crew. “When I get an inquiry for a video project, the first thing that I think about is the the things I’m going to have to pay for,” says YCImageing. Thinking about all the expenses you will have early will help you not only keep organized; it will help you make a fair decision later on.
Next, keep in mind the total amount time and effort you put into the entire project.
You want to be paid rightfully for the amount of work you are putting into your project. Keep track of your hours and time you are investing, whether you're writing a script or shooting on set. It’s all time and effort you could be spending elsewhere and you need to be compensated fairly for you talents.
Last, how much money do you want to put into your pocket?
YCImaging suggests that you should price your project based on the total amount of money you have to shoot the film stacked on top of the amount of money you want to make. “It’s up to you for you [to] know how much you think your video production is worth,” says YCImaging. This way of deciding on a price will “allow [you] to get every single thing that [you] need for [your project] and also profit the amount of money that [you] want in the end.” He goes on to say that you should never have one set price for your videos or price your videos based on what competitors are pricing. “It’s no problem with you wanting to have a higher price than someone in your city. Don’t fear that you won’t get business because you will.”
Keeping these three things in mind before you set a price for your video production will help you feel confident in the price you charge.
If you want more help with pricing your video productions, head to our video rate calculator, where we can help you find the best possible rate for your work.