How much does video creation cost?
Day after day, marketers are looking for ways to make complicated information easily understood and accessible to their audiences. For this reason, video as a marketing medium has gained serious momentum. Many businesses are finding ways to incorporate video content into their marketing strategy, as consumers and visitors alike are interacting with videos before almost all other types of content.
Of course, not everyone is a filmmaker. For many creating unique, fun and informative videos can be challenging. This is why you’re likely to work with a video marketing agency who can help you put together video blogs or advertisements. But how can you factor this into your marketing budget? We’re here to break down the costs of video creation!
How much does video creation cost?
What affects the cost of video marketing?
Now that video marketing has become widely popular, it’s no longer a question of why you might employ video content but rather when and how! The benefits of video marketing are widespread, but the cost of creation might be what ultimately affects your choices. We should mention there are many different tiers of video marketing and thus, many different costs. Let’s discuss the different factors that will inevitably affect the overall prices.
- Time: When it comes to creating a video, time is one of the biggest factors that will affect your budget. This is because every single aspect of video creation rests on time constraints including planning, scriptwriting, shooting and editing. The size of the production team you’re working with will also affect how long it takes and in turn, the overall budget. When you work with a large team, it'll likely take more time and therefore cost more money.
- Tools: A video can be created from the simplest tools to the most complex ones. In some instances, everything can be completed with a smartphone, from shooting all the way to the final product. In other cases, you might require expensive equipment that needs to be correctly dealt with and handled. A high-end camera, professional lighting and various equipment is going to lead to greater costs and this will include hiring those in the industry who know how to use them.
- Professionals: As mentioned, working with professional videographers, editors and other production assistants is going to add serious weight to your budget. Another important aspect of hiring to consider is talent. Hiring experienced actors who have a few jobs under their belt is going to be a much greater cost than hiring amateurs or friends.
Having an understanding of some of the factors that will affect the cost can offer you ways to make an informed decision and choosing a direction to work towards. Now, we’ll go over the different tiers of video creation and how this relates back to the quality and cost of the project.
Amateur marketing video
Creating an amateur marketing video will consist of using the basic tools and approaches, taking it on as more of a DIY project. This level video can be completed by one of your team members with basic equipment which could consist of a hand-held camera, cell phone or another easy-to-use device. Consider a YouTube-quality video that can be completed with a minimal amount of time and effort.
The benefits of an amateur marketing video are that it will be your most inexpensive option as well as the quickest to produce. Of course, there are risks involved with this type of video, and this includes the final product coming across as unpolished or unprofessional. Unfortunately, if your video lacks a certain amount of skill and tact, it might instill fear in potential customers that you’re not taking things seriously and this could hurt your credibility. Amateur videos are likely best left for blogs or even as internal training resources, so use your discretion when choosing where to publish this content!
A semi-professional video will involve at least one or a few individuals with some experience creating video before, both with the equipment as well as with post-production experience. In this instance, you might also employ more sophisticated tools such as professional cameras as well as editing software. Time commitment can range in the semi-professional realm and might come down to how many people you’re working with as well if you outsource the job.
This is an affordable option for business owners on a budget that offers a more professional level production than something amateur. Do bear in mind that working with a semi-professional can mean that the quality of your videos vary widely and further, may lack a bit of creativity. If you’re looking for something simple and to the point, then we’d suggest going forward with this option.
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Working with a professional can offer you the corporate option in the world of video creation. Although the price point can be high, it’s definitely with good reason. A professional can maintain a level of consistency that is missed when working with a semi-professional or an amateur. In some cases, a professional might lack the creative edge you’re looking for but should offer you a quality video that conveys credibility. This level video should be left for profiles of your company, service or process descriptions as well as recruiting videos.
Cost: $25,000- $100,000
A top level video will be pricey, yes. But if you’re looking for something with the potential to go viral and greatly increase your visibility then we’d suggest looking no further. This will involve the best of the best, including the equipment and tools used in both pre and post-production as well as working with those who will be able to create a compelling narrative.
Working with this level of professional will offer a finished product that can create a serious amount of buzz. If you’re a smaller company, you might not have the budget for this initiative. However, if you can afford it and are really looking to make an impact, then we’d suggest moving in this direction as video marketing is definitely the way of the future.