I’ve recently been asked how competitive the corporate video space is, and how a newcomer to the industry can secure a deal in preference to a more experienced competitor.
“The corporate video sector can be incredibly competitive”
The short answer is that certain areas of the corporate video sector are incredibly competitive.
For example, if a large corporation advertises a tender opportunity for video production, there will be a lot of interest and many rival bids placed.
However, it’s pointless for the vast majority of start-up corporate video producers to pitch on these kinds of opportunities, because they are so hard to win. Moreover, the client-handling side of the commission will be such a full-time occupation that you may need to hire an assistant solely for this responsibility.
“Three key ways for a newbie to win”
There are three key ways I can see a “newbie” being able to beat a more established competitor in the corporate video space as a whole.
The first key is what could be termed “niche selection”. You need to pick a sector or niche of the corporate video space where you can make a realistic in-road and win clients.
I describe in great detail what niche areas you could consider in the second episode of my video seminar course. You can see the episode for free by signing up to my mailing list on the right hand side of this page.
If you pick the right niche, you can find that you’ll be in a much less competitive space and you’ll have a much greater chance of successfully pitching on jobs.
The second key tip is to be pro-active and hunt down opportunities to pitch into prospective clients, rather than waiting for them to announce a need for a video production.
“Create your own opportunities”
If you knock on doors and create your own opportunities like this, 99 times out of 100 you will be the only person pitching for the commission and your chances of success then increase exponentially.
It’s far from easy, but it’s the way to build your business up.
I started out in 1987 by selecting a tiny niche market and pitching only to clients who worked in that space. I won nearly every pitch I did, as I was the only person speaking to them.
I didn’t diversify into other niches until much, much later – the early 2000s – as I was able to make a really good living solely in my narrow niche. And the only reason I diversified was for my own creative satisfaction – it wasn’t because I needed to.
The third key is to make a strong benefit out of your possible “weakness” of being young and inexperienced.
Really play up your “youth” in the market – you’re not tired and hackneyed like old hands such as myself, who just churn out the same old tried and tested stuff.
You could talk about being able to bring a fresh vibe to the stuffy old ways of their previous video work.
It could work with some clients.
“Find your edge”
The point is that you need to look for ways that you are different from the competition and find a way to make that difference a strength that gives you an edge.
You can hone your edge by reading the tips on this site, or by checking out this course.
[Images courtesy of sattva, stockimages and photostock at freedigitalphotos.net]