CIM151 - Week 6
2021-07-06
Weekly Reflection
This week, the class discussed pricing as an artist and how collaboration plays a role in the creative industry.
There were some very valuable information about how to approach a client, present multiple options with different tiers of pricing and set the expectations for the completion of a project.
We also watched a TED talk about how industry leading companies focus on creating environments for collaboration and how leadership should not be about controlling people but instead laying the groundwork for the team members to drive a project's innovation.
Next week CIM151 is having a study week so there will not be any class, instead I will focus on my presentation now that I have collected some research resources.
Notes
Resources for Project 2
https://oscars.fandom.com/wiki/Kim_Libreri
https://realtimeconference.com/kim-libreri/
https://docs.unrealengine.com/5.0/en-US/RenderingFeatures/Nanite/
https://soundcloud.com/alexstolz/42-unreal-engine-and-the-revolution-in-virtual-filmmaking
https://www.youtube.com/watch?v=70BUR41DWQs
Include unique selling point.
Next week is study week. No class for CIM151.
Arts & Money
Client - A person or organization using the services of a professional person or company.
Finding clients
Advertising
Social media
Word of mouth/referrals
Establishing a Client Intake Process
Client intake is a 4 step process:
Determine the purpose
Why are they looking to use your services?
Could the purpose change?
What stage is the project in now?
Investigate the expected result
How will you determine when a project is completed? What is the scope?
Investigate your client's ability to bring this project to an end.
Is this the type of client that will never be satisfied?
How many changes may need to be made? Should a limit be made, such as 5 per project? Should you charge for extra changes? (Unlimited revisions should have a large upfront fee.)
Conduct value discussions
What does the client truly value and how will you price those? Eg: constant communication, quality over quantity, deadline must be met, etc.
How do you want the client to interact with you and how does the client want you to interact with them?
Should meetings be conducted face-to-face or digitally (email, zoom, etc.)?
Create engagement
Offer some price options to suit the client that they can choose from, based on scope.
Always have multiple options, both price wise and creative wise.
Include things in a top package that the client didn't ask for but didn't know they could get.
Request an agreement to be signed and get your first down payment for the work.
Price by the service vs Price by the Hour
One of the most non-strategic things you can do is to charge by the hour.
When charging by the service you can charge based on each step of the process.
When you charge by the hour your client relationship begins with diametrically opposed desires. You are trying to bill more hours while the client is trying to stop you from billing more.
Billing by the hour does not consider outcomes for the client. When you bill based on your arbitrary internal costs, it may not translate into specific desired outcomes for the client. However, some clients value the time more than the outcome.
Billing by the hour does not allow any creativity in billing. Always try to tie your up-front fee to what the client values. When you find their value triggers, you can get creative to make more money. Ask a client "what is the greatest outcome you can imagine from my work with your company?" They might say "I want to increase my sales by 20%." Now you can consider to charge more for a package that targets that desired outcome.
Inject Value Into Your Client's Experience
You simply have to charge more. That is a totally strategic move, and one you can't do unless you have the guts to do it. But you can't charge more for crap.
You can charge for not just work, but the client's experience around the work you deliver.
Clients will pay more for your work when you deliver the end result with some well-designed client experiences wrapped around the whole process. This how you can strategically inject value for the client which means you can charge more for your services.
You might want to reach out to previous clients to remind them of your services so they come back to you when they need your services again. You could follow up on a previous project to see how it turned out and turn that into a new project. This is called Maintaining Your Client Base.
Price
The formula for pricing that you will find in business textbooks and business courses will look something like this:
Cost x 2 = Wholesale, and wholesale x 2 = Retail price
This formula may not work in all cases but it can be a useful exercise to do as a start.
Creatives must not be afraid to charge what they are worth. The more you practice pricing exercises the more confident you will be with raising your prices based on your skill level.
Charge for costs you may incur working on a project. Eg: software subscriptions, digital stock assets, hiring other creatives you need to do something you can't/don't have time to do.
Innovation is not solo genius, it is collective genius.
Pixar does not have a streamlined process, not everything happens in order.
Innovate companies have:
Creative abrasion
Constructive arguments.
Creative agility
Test and refine ideas.
Creative resolution
Decision making that combines conflicting ideas in a way that integrates the best aspects of each.
Leading innovation is creating a space that allows the hard work needed for problem solving.
Pixar creates a feeling of community within the studio.
A leader shouldn't control the team, the leader lays the foundation for the team to drive innovation.
Research Notes
Kim Libreri - Timeline
Graduated 1989 from The University of Manchester with a Bachelor of Science, Computer Engineering.
Was a Senior Software Developer at Framestore from 1992 to 1994.
Was the CTO of Cinesite from 1994 to 1997.
Was the VP & VFX Supervisor of Manex Visual Effects (Matrix movies) from 1997 to 2001. He won an Academy Award for the bullet time scene.
Founded ESC Entertainment in 2001.
Worked at ILM from 2004 to 2006 as VFX Supervisor.
Was hired as Vice President of Digital Domain from 2006 to 2008.
Went back to Lucasfilm in 2009 as VFX Supervisor then SVP (Senior Vice President) of Technology until 2014.
Joined Epic Games in 2014 as CTO.
The Context of Kim Libreri
Cultural Context
The expectations of consumers of games and films is increasing worldwide. Consumers demand better quality images in real time for games. Film makers want better tools for visualising effects while on set. Studios want to speed up digital artist workflows by utilising real time technologies.
Social Context
Extremely powerful computer hardware is now more accessible to the average consumer. Gaming hardware utilises real time rendering technologies that creates more immersion for the player.
Economic Context
Demand for better real time technologies is growing. Real time raytracing is becoming common in video games. Game engines are being used for animation and on-set filmmaking. These technologies cut production costs and allow faster content creation.
Kim Libreri's Audience
Appeal
Film makers
Game developers
VFX and animation industry
How does he reach his audience?
His technology is integrated into the Unreal Engine is available for free to anyone.
Barriers to his audience?
Film makers and VFX/animators need to learn how to use the Unreal Game Engine which has a different pipeline than they are used to.
Hard Skills
Programming/scripting
Pipeline development
Rigging
Animation
Lighting
Rendering
Compositing
Feature Filmmaking
Technical Direction
Soft Skills
Leadership
Communication
Organisation
Creativity
Problem-solving
Current response to Kim Libreri
Disney used Unreal Engine's Virtual Production tools to make the popular series "The Mandalorian" and HBO's "Westworld."
Unique Selling Point of Kim Libreri
Unreal Engine is the most versatile all-in-one digital production tool available to everyone.