The effectiveness of video marketing is beyond debate. Videos capture the attention, explain what may be difficult to understand, and drive results. It gives birth to a big question for small businesses: "How much does it cost to produce videos?" Nobody can predict what the prices are, but the following guide will help you estimate the costs for video production to decide accordingly.
1. Define Your Needs:
- Style: Will this be an explainer video, a product demonstration, testimonial by the customers, or social media ad? Each of these has different production necessities.
- Duration: For the most part, the longer the video, the more it will charge because it takes up long shooting hours and editing time.
- Style: Do you want it to be just a talking-head video or something a little more complex with animation or motion graphics inserted? Nows your prices will go up in relation to the complexity level.
Description: Writing a good script streamlines filming and the editing process. Will you be writing it yourself or hiring a professional?
Storyboarding: A visual guide for your video. Are you going to make one yourself or outsource it from a production company?
Location Scouting: Will you film on location or will you rent a studio? Each has its own costs.
3. Crew and Equipment Size
Some aspects to consider include:
- Solo Videographer vs. Full Crew: With a solo videographer, this is relatively inexpensive but with a full crew, it can tackle bigger and more complicated shoots.
- Equipment Requirements: High-quality cameras, lighting setups, and sound equipment all impact the cost. Discuss your needs with the production company.
4. Talent Considerations:
- Actors: Are you in need of actors to portray characters in your video? Consider casting and acting fees.
Voice-over artist: A professional voice can add value to your video, but it will be an additional expense. Consider alternatives like on-screen text.
Expert interviews: Using industry experts can give weight but can include interview costs and/or travel expenses.
5. Post-Production Elements:
Editing: There will need to be basic cuts and edits. Anything heavier, with say animation or motion graphics, is a specialized skill that costs a lot more.
Music and Sound Design: Greatly enhance a video but can be licensed for a fee; there are royalty-free options, too.
Remember:
Get it in writing: Once you have discussed your needs with a production company, ask them to provide a written proposal outlining the scope of work and a detailed estimate of costs.
Understanding these elements will help you set a realistic budget for your video. Do not be afraid to ask lots of questions and state your goals as you may when identifying a potential production partner.
Bonus Tip: Most production companies offer tiered packages to accommodate budgets of all shapes and sizes. Often, you just need to ask. With a well-thought-out video strategy in place, and a keen sense of what to expect from video production costs, even the smallest businesses can be confident in navigating the process of video production.
