Most business owners or even their start-up teams have a lot on their plates, and that causes marketing initiatives to get lost in the shuffle. Today, business survival and growth are predicated on a business’s ability to showcase and represent itself. Multi-media production is a key part of marketing and creating engagement that will (hopefully) result in additional customers. But in marketing—or at least at Rennacker Studio—we like to say “Everything is measurable,” and that’s a great reason why multi-media production agencies are a great business partner to have.

What is a multi-media production agency?

Multi-media production agencies create various visual and interactive content to promote and represent a company across different platforms and mediums. For example, designing a trifold brochure requires a very different set of skills than it takes to design a website. But a multi-media agency, also called a full-service agency, has a team and the resources to create solutions for most, if not all, of the marketing services a business owner might need. These services typically encompass:

• Research and ideation

• Web and digital design

• Graphic and print design

• Photography and video production

Each of these is a different lever that can be pulled to provide additional exposure by utilizing multiple channels of marketing. This can allow for more engagement with the business along with creating a more uniform message for the brand.

Benefits of utilizing a multi-media agency

When you use a multi-media agency for your business, your marketing efforts are enhanced by creating engaging content like videos, images, and experiences for your customers more creatively and uniquely. Multi-media content captures attention better than plain text, making your brand stand out in a crowded market. By incorporating multi-media elements, you can better explain your products or services, increase engagement with your target audience, and boost your brand's visibility and consistency across different platforms. A well-crafted multi-media strategy can help you convey your business's message more effectively and leave a more lasting impression on your customers, again—to increase sales.

Rennacker Studio recently gave a talk on this exact topic and luckily for our readers, we have the presentation to share! Check out our news and media post “What You Need to Brand and Market Your Business in 2024” to learn more about how design thinking plays a part in your marketing efforts.

Key components of multi-media production

When considering a multi-media production agency for your business, it's important to understand the key components involved. Multi-media production typically includes elements such as research and ideation, web and digital design, graphic and print design, and photography and video production. These components all have to work together to create engaging and impactful content for your business.

Research and ideation include assessing your business’s competitive landscape, conducting studies with customers, and creating conceptual solutions to the problem at hand. Web and digital design focuses on ensuring that your business is findable and accessible on the internet, including generating content for social media, and digital ads that can use web cookies to display your ads on other websites. Graphic and print design, on the other hand, focuses on developing physical, printed materials for your brand, think brochures, mailers, and even publication ads. Photography and video production involve capturing visual content, generally used as supporting elements to the other multi-media sectors, however could be used in isolation for a simple social media post.

The goal of hiring a multi-media production agency is to create a unified look that effectively communicates your message across all customer touchpoints. Understanding each of these key components and their impact on your business will help you make more informed decisions when choosing a multi-media production agency to be a partner for your business.

Budgeting for multi-media production projects

As with most things in business, setting a budget for multi-media projects is crucial.

First, assess the scope and determine if it's a small-scale brochure design project or a larger website that requires photo and/or video production. Research the average costs involved in hiring professionals for research, photography, or design work. Keep in mind that pricing varies based on the complexity of the project and the expertise of the professionals you hire.

There’s no hard and fast answer to how much your marketing budget should be, but the U.S. Small Business Administration and Web Strategies reports average marketing spending in 2018 was 7.9% of revenues:

• B2B product companies were spending 6.3%

• B2B services companies were spending 6.9%

• B2C product companies were spending 9.6%

• B2C services companies were spending 11.8%.

Creating a detailed budget plan will help you allocate funds smartly and ensure your project stays on track financially. Also, marketing is an expense that can be utilized to lower a business’s taxable income.*

The U.S. Chamber of Commerce states:
“The IRS considers any costs relating to advertising and marketing to be tax-deductible. This includes billboard promotion, online advertising, and the cost of producing advertising materials such as business cards or logos.”Remember, investing wisely in multi-media production can greatly enhance your business's visual appeal and engagement with customers.

https://www.linkedin.com/pulse/effective-project-cost-management-ensuring

Choosing the right multi-media production agency

When selecting a multi-media production agency, consider factors like the company's portfolio, customer reviews, and pricing. Look for a company that aligns with your business's style and vision. Ask for samples of their previous work to ensure they can deliver the quality you seek. Explore their pricing structure to ensure it fits your budget. Read reviews from past clients to gauge their satisfaction.

Enhancing your business with multi-media

To boost your business, consider incorporating multi-media elements like videos, animations, and infographics, print collateral, digital media, etc. The right multi-media agency can help you engage with your audience better and stand out in an incredibly competitive market, allowing you to convey your message effectively, and leave a lasting impression on potential customers. Investing in professional multi-media production services can bring creativity and professionalism to your brand, making it more appealing to your target audience.

Rennacker Studio offers free brand audits via Zoom where we can assess the areas we see potential in improving your business’s marketing efforts, and provide you with an estimate on what it would cost to work with us on making those improvements.

*Consult your accountant and tax advisor for advice on tax-deductible expenses related to marketing and advertising.