08 May How Much Does a Great Video Cost?
Creating and publishing videos is one of the best tools that businesses are using for marketing. Online marketers recommend creating video content since video marketing is the best tool for approaching customers. With current trends in Facebook, Instagram and other social media sites, people prefer to watch videos more than reading text content(that said, prepare yourself for a lot of text).
The cost of creating a video is crucial for every individual or company who wants to market their business through video marketing. There is not a perfect answer to this question as the cost of video creation depends on multiple factors.
The first key things you need to consider are your budget, your time, and the quality of video you want. The following 3 items are proportional. Basically you can pick 2 of the following by sacrificing one of them:
- Low Cost
- Quick and Easy
- High Quality
If you want a low cost video that is high quality, you will need to invest a lot of your time. If you want a quick and easy experience that is high quality, you will need to a have higher budget. Consider these options so that you can determine what best fits your needs.
Low Cost options can work well if quality isn’t a main factor. Some of the most popular videos on social media are shot with cell phones. So this is a great option as long as the content or information is high value. That’s where you spend your time, writing or creating really effective or informative content.
The cost of a basic video can be around $1200, and a premium video can cost $50,000. So let’s check all those factors that determine the total cost of production of a video.
Here are a few basic factors to consider when pricing your video:
- Style or type of the video (e.g., animated video, simple text animation, or video shoot with actors)
- Need for script writing
- Length of the video
- Custom graphics and images
- Voice over or narration
- Number of versions
- Total number of videos
Type of video
There are various types of videos such as text videos, animation videos, and production videos shot on camera. The cost of a video depends on its length, type of tools used, individual video elements and number of versions. For example, a simple presentation video may cost a few hundred dollars while a professional may charge thousands of dollars for an animated video with effects.
Time to create
The time required to create a video is also an important factor in estimating the cost. The videos shot by a camera require planning, scripting, shooting, the addition of special effects and final editing before publishing. Animated videos can involve several of the same components as well as graphics, music and voice over. All these tasks often require a team of professionals and time to create and assemble.
Video shoots require professionals that act in the video. Will it be you? Or do you need to hire some on camera talent? The greater the talent and experience of professionals in the video, the more they charge. Therefore, the talent used in the video is a crucial factor in determining its cost. You pay for the expertise and experience of the people to be shown in your video.
Tools and equipment for video production will also affect the total cost of a video. You can very easily shoot your own video using a webcam or cellphone, and very often, when quality isn’t a major factor, these can be very effective. However if a high quality production is a major factor, there are high-end video cameras, lighting systems, motion graphics, and production tools that will ultimately affect the cost. If you are creating your own video consider renting these items locally, or scan sites like craigslist or offerup to find less expensive used gear.
Crew or team
Video production requires a team of professionals that work on creating a concept, shooting, lighting, sound, editing, animation, etc. All these activities require various professionals that charge as per their skills and experience. The cost you pay to the crew for production determines the cost of a video.
People and businesses create videos as they need to publish them for their customers. Publishing videos at the right time is essential in digital marketing. Therefore, there are time limits and deadlines for the production of videos. The less time you allow for production, the more the professionals would charge you to create a video. The time available for video production also affects the total cost of production. A low turnaround time increases the cost as it involves professional to work overtime and put more effort in less time.
All the above-mentioned factors affect the cost of production of a video. The cost can increase if you add the cost of marketing to the production. A high-quality video can help you grow your business and is definitely worth the time, effort and money that you spend on its production. Considering all the above factors helps determine the total cost of a video.
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