You probably already realise you need to include video for marketing and to enhance your online presence. According to this 2015 survey, 25 percent of customers actually lose interest in a company if there’s no video, and four times as many people prefer to watch a video than to read. No matter what business you’re in, there are plenty of opportunities for video:
- Product Demonstrations
- Reviews
- Tips and Tricks
- Customer Testimonials
- Behind-the-Scenes at the Office or On-Site
- Events, Meetings, and Trainings
Of course, there’s still a big question on everyone’s mind:
What does video production cost?
There’s no quick answer to that question. Each video is different, so naturally, a video production cost can vary considerably. Here are just a few of the factors that can play a role in the final cost of video production:
- Location: Is there travel involved (car rental, petrol, aeroplane tickets, hotel)? Do you have to rent a space?
- Staff and Equipment: Complicated shoots may require more cameras, lights, and sound equipment, as well as people to operate it all. In some cases, you might need to hire actors, make-up artists, and hair stylists.
- Time: Will the shoot last an hour or a couple of days?
- Editing: This can be simple or time-consuming, depending upon the length of the video and what the finished product needs to look like.
- Music or Stock Footage: You might need to purchase the rights to use certain music or hire someone to compose something for you. The cost of stock footage, like stock photography, can also add up.
- Experience: You can hire a film student for less than you can hire a seasoned professional, but that student doesn’t have years of experience and probably doesn’t own top-of-the-line equipment. If you want high-quality video that offers a polished, professional glimpse of your company, you will want to pay more to hire experts.
What is the video production process like?
Hopefully, video production starts long before you step in front of the camera. Pre-production is the period of time during which you plan the video and make all the arrangements. Careful planning can help things run smoothly on the day of the shoot, but you also have to consider the costs associated with this stage. They might include missed work for you and your employees as you clarify the video’s message, and you will need to take time to meet with the production staff, as well.Don’t forget to rehearse and memorise lines, if necessary. This can save time (and money) during production.
After the shoot, the production team will edit your video to create a finished product you will be proud to share with your employees, clients, and prospects.
How much does it cost to make a video? Estimating your expenses:
As mentioned in this article, one of the best ways to get an idea of how much your video production cost is to find a video that is similar to what you have in mind, and show it to the production team. Based on that, you will get a better idea of what to expect.
It’s also a good idea to be clear about your budget. A few extras (a fancier catered meal during production, a professional actor, a custom soundtrack) can make that number skyrocket, so make sure you know what you can spend and be ready to work with the production team to bring your video within that budget. You can create something incredible and effective for even two or three thousand dollars, and the potential grows from there.
So, is video production expensive? You have to consider the value of what you’re getting as a result of the production process. Join the 76.5 percent of marketers who say video has directly impacted their businesses. You’ll find it’s worth the cost.
When you’re ready to start planning your video, let’s talk! We’d be happy to help you craft your vision.