However, investing in a professional video production
company to make a few stellar videos will be much more impactful than several
cheap clips.
The changing video landscape
As more brands make the switch to digital marketing, it’s
tempting to make any video just to get in the game. But brands should research
their options before taking the cheaper option: low quality video can be worse
for your brand perception than no video at all.
Fortunately, video production equipment costs are going
down, and more production companies are emerging to help business reach and
engage their target audiences. Video is becoming especially popular for B2B
marketing, with companies designing video for a specific audience.
How much does video cost?
Video costs the more than other marketing types, but can
also earn you the most in conversions. A high-quality video could cost anywhere
from $5,000 to $500,000. When requesting quotes from video production
companies, providing them with a video brief that details what you want will
help them give you a more accurate price.
Now, let’s break down some typical cost variables for video
production.
· Video
type:
An animated short will have different production costs than
a day-in-the-life doc. Consider your audience and needs when brainstorming what
type of video you’d like to create.
· Pre-production:
Before filming beings you’ll need a concept, script, talent,
location and more. Your team may be able to do a lot of the pre-production
themselves with input from the production company. If you have the budget, you
can let the experts do more of the prep.
· Crew:
Crew rates depend on location, experience and role. A full service video
production crew could cost from $1,500 to $30,000+, depending on the other
factors listed here.
· Length:
Most marketing videos for brands will be short, depending on your needs.
However, shooting a lot of video while you already have the crew, talent and
location can also afford you several videos edited for different uses.
· Time:
Unlike length, the time the production company spends
creating the video will factor a great deal into cost. Production companies
will have their own rates for filming, and the more crew members required the
higher the price. Solid planning during pre-production can minimize costs due
to last-minute changes.
· Equipment:
While companies should have their own film equipment, they will likely also
have a cost to cover any damage to their expensive equipment. This may be
factored into their day rate.
· Travel:
If you bring in a team from out of town, you’re looking at transportation,
lodging and meal costs that could cost as much as the video. Your best choice
for keeping costs down is to hire a local team, which will also help you in
finding a perfect location.
· Post-production:
You’ll want to have enough in the budget to make sure the
final product comes out flawless. Story editing, sound, coloring and graphics
could all be done by different professionals and will impact final cost.
Video production requires teamwork
If you are clear about what you want, and help the
production company help you, you can create a valuable piece of content that
can be used for multiple campaigns and ultimately drive conversions. When you
hire the right video production company, you’re hiring a partner who wants to
meet those goals with you.
Say hello
and let Spin develop a video production proposal that fits within your budget and propels your brand forward.
About Us
Spin Creative is a video production company and creative agency helping marketers create winning video and creative strategies that engage, inspire and activate targeted audiences. Spin is headquartered in Seattle with offices in San Francisco and London, serving brands around the globe.
