A professionally produced training video can cost upwards of $3,000 per-finished-minute of content. With products and processes changing faster than ever, it’s not always worth it to make a “Hollywood” production.
Companies today are innovating faster than ever. This is happening across all industries: healthcare, software, financial services, automotive, etc. What was working and effective last year has usually changed, updated, or has been replaced by something new. This is causing companies to train and re-train their teams to make sure they are proficient and effective in today’s competitive market.
The Result: This is putting a huge amount of pressure on the shoulders of SME’s (subject matter experts), business leaders and learning focused teams to create training content to keep their company on top. They need to quickly create bite sized, interactive and efficient training for their teams. However when we talk to companies in this position many of them want to create and invest in HD, professional and what I call Hollywood production content for their internal teams.
At LearnCore we work with some of the most innovative companies in the world, I can say that investing in Hollywood production content is not worth it, for the following reasons:
· Investment $: Custom, HD, Hollywood type of video training content is expensive – it can cost 50x the amount of a voice over PowerPoint that gets a similar message across.
· Outdated before launch: After investing all the money into creating the content and spending months to create, the course is most likely out of date before you invite the first learner, leading to a waste.
· Not flexible for updates: If something needs to be updated: a statistic, a URL, or message then Hollywood content does not accommodate that easily. You would need to get those same resources and professionals to make the change, adding to the time and expense.
· Not correlated with better learning: Hollywood content is not correlated with better learning, since the content is generally longer and out of date. So all that investment actually has a worse ROI.
· Less frequent training: It is important to spend an average of 8 hours per month for employees on learning and development. With Hollywood content, creating that much material is nearly impossible.
We’ve seen time and time again, that the key to successfully in deploying training content is to create up-to-date content, using different media types, in a bite-sized format, with a focus on applying the knowledge. This makes your voice over PowerPoint more effective than Hollywood content. In conclusion: Let’s leave Hollywood content for the movies.