Ruskin Felix Consulting LLC partnered and created a comprehensive business strategy for a video production company. We helped them to understand the overall industry, segmental overview, growth drivers, industry challenges, industry challenges, business environment analysis and market entry strategies and challenges. We assisted them in understanding the business structure, employee assessment, budget analysis, pricing analysis, cost management and the competitive advantages of the company.
A video production company can take many different shapes. Local commercials, promotional videos, and wedding videos are just a few of the areas of focus for such a company. The brands may compose screenplays, hire performers, film scenes, compile supplied audio and visual, or film events to be edited later if they run their own video production company. Since there are so many different approaches to a video production firm, defining the specialization as it relates to the target audience is highly crucial. Once the company is more established, they can branch out into different sorts of video creation, but in the beginning, they need to be concentrated and narrow in its scope.
The video production is divided into four stages consisting of pre-production, production, post-production and distribution and promotion phase. Pre-Production is the first stage in the process of making a video which is to plan and lay the foundation. It’s critical to conduct the necessary planning, research, problem-solving, and organization during this phase to ensure the success of the video project. All the raw elements for the video will be captured throughout the production phase. If brand has certain concepts, ideas, or visuals in mind for the final product, they will be expressed to the producer well before the end of the production phase. All the raw film footage and sound recordings are brought together in post-production to create a cohesive entity. The video goes through a collaborative editing process at this point, which may include several rounds of editing. A good post-production workflow is critical for ensuring that everyone communicates effectively, keeps on task, and produces the final video on time. The last phase is the distribution and promotion phase which includes establishing key metrics and reporting strategy, developing a plan for distributing content and formatting content.
Our recommendation to the brand was to begin by focusing on presenting their value to target clients, such as through a company website, social media, and services that display their reel. The brand’s marketing approach should be oriented on the producing company’s value proposition. The brand should also focus on networking, as it is a key component to creating a successful video production company. Associating with trade organizations and engaging with prospective clients through pre-established agencies are two ways to network. Once the brands have an established consumer base, they can ask for references. In order to target corporations, the brand can hire agents/brokers or marketing agencies.