More than two-thirds of economists at major financial institutions expect the U.S. to have a recession in 2023.
Happy New Year! Now let’s all get ready for a recession!
The global economy has been on a roller-coaster ride since 2020 the ride doesn’t seem to want to end anytime soon. Whether we have a recession in 2023 remains to be seen, but now is a good time for businesses to begin preparing for what could transpire.
For those that take the half glass full approach, economic turmoil can provide an opportunity for game changing moves. As this article from MarketStar points out, “economic headwinds can provide an opportunity for bold moves. When the competition is contracting and recalibrating, there are some time-tested levers that can lead to explosive growth. One such lever is outsourcing.”
Outsourcing video has been a dominant trend over the past few decades, and it has powered the growth of businesses across industries. Just take a look at outsourcing YouTube video trends.
1) Save Time and Money
Video production is both time-consuming and expensive no matter how you slice it. It requires going through several layers and processes to reach completion, especially if you want it done right.
Yes, your iPhone may be capable of capturing decent footage, but when it comes to producing a high-quality live-action video for your business, the latest iPhone will not cut it. And before you think about purchasing your own professional equipment, just know that it does not come cheap.
When you consider the cost of equipment, software, and labor it takes to produce a quality video, outsourcing is the more affordable option 99% of the time.
2) Guaranteed Quality
When it comes to professional videography, experience matters. Most production companies will have years of experience and a wide variety of skills which is a major advantage. With the popularity of video rising every year, it’s crucial that your content adds value and helps your brand stand out. Too many organizations put low-quality video out just for sake of adding content which is never a good strategy. Hiring a professional production company will help you leave a lasting impression and achieve a positive ROI.
3) Efficiency
What do building a storyboard, writing a script, scouting a location, gathering equipment, and scheduling talent all have in common?
These are the steps required before any filming takes place!
People tend to underestimate the amount of resources required to produce a quality video. Oftentimes, organizations simply do not have the capacity to do this on their own, and projects tend to lag and never get completed. By hiring a video production company, you’ll have a team who will complete the production process from beginning to end without your business having to dedicate an in-house team to spend time and resources on doing so.
Final Thoughts
Recession or not, now is a good time for businesses to evaluate their priorities, strengths, and limitations. Relinquishing some control means that you’ll have more time to focus on the key aspects of your business. If you’ve never worked with a video production company, drop us a line here.
