The Consequences of Production Delays are Very Costly

Production Delays

Delays in production of an important marketing project can end up costing your brand a lot of money.

What makes a great marketing effort? There are many qualities you could point to that would indicate one. Some would argue that great content is what makes a great marketing tool. Others would say that tight production is another important key. However, brands that show overwhelming marketing success tend to understand that more is required – a certain timeliness is often another key component of a successful marketing effort.

Brands Don’t Place a High Enough Value on Time

It has become distressingly common, however, for many brands to undersell this particular point. They will book the services of a production company like TalkingTree Creative, only for their project to become bogged down by delays for any number of reasons. What’s distressing about it isn’t just that great content becomes more “out of fashion”, so to speak, as delays drag on – the delays actually make the costs of the project balloon out of control, such that any potential gains a marketing effort might have had are immediately canceled out by costs that are, frankly, preventable by the brand.

Considering the Costs of Production Delays

Let’s say Brand X has booked TalkingTree Creative for a video production project out in California. At a certain point, we would have to purchase plane tickets and make all of the necessary arrangements for our crew and equipment to arrive at the shoot location. Now let’s imagine that this imaginary brand has had a change of heart for some reason. Perhaps there has been turnover at the top of the marketing department and the new boss wants to put their own personal stamp on the production content. Or maybe the company is getting cold feet and wants more time to review the material. No matter what the reason might be, consider the costs:

  • Plane tickets and other travel arrangements will have to be changed over to the new date. The closer it is to the original date, the higher the new fares will end up being.
  • Brand X has booked TalkingTree Creative for their time – we have thus set aside that time exclusively for Brand X. When they reschedule their project, we’ve immediately lost that time that we could have used to work on Brand Y’s project, or to accept a proposal for Brand Z. That costs us lost revenue.
  • Every production uses subcontractors and freelancers. Good subs book up early and many have cancellation policies that penalize the client the closer they get to the delivery date. This is a double whammy that affects both cost and quality! If Brand X needs to change something too close to the delivery date (for instance, adding new deliverables or canceling already booked items), they will probably pay more for lower-quality services.

These costs are immediately passed on to Brand X, making their project a lot more expensive and sharply diminishing the ROI of their marketing project. Don’t be Brand X. Make a schedule for your production and stick to it to stay within budget and maximize the returns and chances for success.

GET ENGAGING VIDEO AND EVENT MARKETING PRODUCTIONS WITH THE HELP OF TALKINGTREE CREATIVE!

Ready to share your story? TalkingTree Creative is your premier guide to brand strategy, event planning, video production, virtual reality, and live entertainment. With help from our production experts, you can elevate your message and convert your audience to fans by transforming your next event into a fully engaging, memorable experience. We are located in the Baltimore-Washington Metro area but are ready to accommodate the needs of businesses and organizations anywhere in the U.S. Get in touch with us today at 240-252-1200 or 202-684-2225 and let’s start a conversation. Find out what we’re up to on FacebookTwitterGoogle+, and Pinterest.

This entry was posted on Thursday, October 12th, 2017 at 11:02 am. Both comments and pings are currently closed.

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