Business course

Training Reels deploys DIY video production facilities

While most SMBs would love to have professional marketing videos to promote their products and services, most don’t have the budget to afford them. Recognizing this as a problem he could solve, commercial video producer Luke Murphy set up Training Reels in September 2021 to provide DIY production facilities where businesses can make high-quality marketing videos at a fraction of the normal cost. .

“Content marketing can have a triple return compared to traditional marketing. However, it’s way too expensive for many companies,” Murphy says. “It can cost up to €150,000 per year when done by an external production company, whereas with our service it is possible to produce high quality marketing videos for around €20,000 per year. “

A film and screen graduate from UCC, Murphy realized the scale of the cost barrier four years ago when he began producing video for clients through his production company Waking Dreams Media.

“I wanted to help my clients increase their social reach with video, but soon realized that my rates, and the rates of many production companies like mine, were too expensive for most companies to create weekly material. for content marketing,” he says.

“I noticed that in-house video production is an option overlooked by many companies and this prompted me to start developing the idea of ​​a self-service production kit to help my clients increase their production video. However, that only solved one of the problems, the equipment. They also needed help in tackling the other aspects of the production and that’s how the idea for the free studio was born. -Training Reels service.

Coworking hubs

Murphy’s plan is to locate small studios in 40 coworking centers and business centers across the country. Businesses can then book the studio online to make their marketing videos. They’ll be guided through the process, from setup to editing, with step-by-step instructions via a tablet, and walk away with a finished product despite minimal technical knowledge, Murphy says. The pricing model is still being worked out, but it will likely be a combination of a flat rate for single videos and a discounted annual rate for weekly videos.

Typical customers will be SMBs who want to use content marketing as their primary sales channel, but whose budget doesn’t extend to the regular use of a production company. “We offer businesses two options,” says Murphy. “They can make their own videos and/or if they want something more bespoke, we can help them do that through our production company.”

Murphy expects Training Reels to be in beta within six months, with the full version going live in the first quarter of 2023. The company was developed with equity and a small allocation from the UCC’s Ignite accelerator.

Murphy is now looking to raise around €250,000 to recruit key people and start the go-to-market process. He starts with the Irish market, but says the real potential lies in the US, where video marketing is more established.

“Video marketing is already popular, but there is still plenty of room for growth. For example, research shows that 79% of non-video marketers say they plan to start using video as a marketing tool in 2022 and that video is expected to continue to grow as a percentage of overall ad spend for at least next three years,” Murphy said.

“We know from customer interviews that nearly 50% of companies have identified budget as an issue when using video as part of their marketing plan, but emerging technologies such as assisted editing by AI, automated equipment and cheap quality cameras will soon allow anyone -quality videos without a lot of technical knowledge.

“A studio just needs to bring the tools together in a user-friendly environment and that’s exactly what we do with Training Reels.”