Entrepreneurs starting a videography business for the first time, often make a classic mistake. They aggressively look anywhere and everywhere to find clients. They may scour websites such as Craigslist, place Facebook ads, distribute leaflets, or mass mail brochures in an attempt to drum up business. In addition, they aren’t particular about the type of job they land because they feel it’s more important to get work — any kind of work. Because they’re just starting out, they feel they aren’t in any position to be choosy.
There’s a big problem with this approach, however. The video production business is fiercely competitive, and there’s no shortage of other videographers who do general videography work. In addition, they’re also looking in the same places for clients. If this is your strategy, there’s nothing about your services that differentiate you from the competition. In such a situation, your only strategy is to underbid your competitors. Unfortunately, many of them are doing the same thing. Such a situation dooms you to taking on lots of low paying gigs, and to forever chase down new clients.
Differentiate Yourself by Becoming an Expert
A more satisfying and profitable approach is becoming a specialist in a specific type of videography. Customers looking for quality work realize that only expert specialists can provide this. It’s also understood that expertise isn’t cheap. By specializing in a specific niche, you can make a good living by taking on fewer but more profitable clients. Find a niche that interests you and has sufficient demand to support your business. Ideally, the niche is under-served in your locality. If not, then study your competition by visiting their websites, and look for service gaps. What can you add to your service that they lack?
Examples of specialties include:
- Music videos
- Animated commercial videos
- Legal deposition videos
- Webinar videos
- Travel videos
- Instruction videos
- Training videos
- Corporate videos
- Question and answer videos
- Wedding videos
- Real estate videos
- Testimonial videos
Of course, specialization excludes you from other completely different niches, but as noted above, chasing after all niches makes you a generalist in a sea of generalists. This forces you to work for very thin profit margins. In addition, your typical client is only interested in paying as little as possible. This is not a good way to make a living. After building your reputation as a specialist, you can diversify into a few closely related niches.
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