Hopefully by now you have it drilled into your mind that there is no “right” price for a video marketing strategy. If you are doing it right, there will be a variety of factors that influence your pricing, specifically your own purpose, strategy, and budget. We’ve discussed the three T’s that effect video production costs the most (Time, Talent, and Tools) and the steps followed within a video production process, as well as the 5 Levels of Cost of Quality. If you’d like to get a better idea of some of the essential aspects of the video production experience and what they could potentially cost you, keep on reading. Then, we can discuss some basic plans we offer here at Business Video Consulting!
- Concept of Focus, Storyline, and Transcript
If you are going to have a solid video that follows some kind of goal or purpose, you most likely need to know what kind of storyline or flow your video will have. It is also important to consider whether you want the information being discussed to be scripted or freely spoken. It may also be effective to create a transcript that can be attached and followed while your video plays. Ask yourself if the production type you hired can help you move forward with the purpose or vision that you have and if you are both aware of the audience you are aiming to target. Cost can range between $75 and $200 per hour if an experienced video production company is hired. If you want the video translated into various languages, add on an additional 10-20% of overall cost.
Having a script or transcript is a good idea, but who is going to be speaking? Will you or an employee discuss the information in the video, or will you be hiring a professional speaker to help? Keep in mind voice-over actors can cost anywhere between $100 and $400 for just two minutes of video.
This may not seem like a big deal, but you get what you pay for and a camera is no different in video marketing production. The quality and cost of your camera can determine the amount of quality, sound, and editing you can expect. If you are hiring someone or looking to buy, research different cameras and costs. You can expect to pay $75 to $400 per hour for a professional using a better equipped camera, and if you are looking to use film you are looking at $1,000 or more.
Location, location, location. Depending on where you want the video recorded, costs can go up or down. In some cases, an added 25-50% of production costs can come from setting.
Hosting refers to videos and content that go directly to the live online web. If this is the case with your videos and you want to have your content online on YouTube, Facebook, or some other websites, a host will be needed to implement a server. Costs can range between $5 to $10 per month.
- Audio Files, Uploads, Digitals, and Transfers
Experience with properly adding audio to videos doesn’t come easy. Good quality of sound with good quality of video can cost you $30 to $1,000 for a fully licensed 2-3-minute track. If the content is to be transferred, converted into another format, or uploaded with assistance, extra costs can be expected as well. Expect $100’s of dollars for transfers, while uploads cost around $30 to $75.
- Extra, Extra, Extra
Some extra factors can really make or break a video production experience, although they are not necessary. In this category, cost really varies with what it is you want, what your budget is, and what your productions staff requires. These can include special lighting, furniture, props, cars, extra actors, studio equipment, and many others.
- B-Rolls & Cutaways
Editing and adding graphics to a video costs around $60 to $175 per hour; sometimes $300 or more if more complex graphics are used. Using cutaways during the video that show images with voiceovers can add an additional 10-50% of the total video production cost.
- The Talent!
Talent can be your professional producer, the company crew, or even actors. Production engineers can cost up to $70 per hour, technicians up to $50 per hour, and other experienced crew members another $25 to $75 per hour. Hiring professional actors can cost anywhere up to $500 per hour depending on what kind of experience and talent is required.
- Interaction Tactics
Lastly are interactive components of your video: the pieces that attempt to involve your audience at a more personal level. This can include flash programming, links, website landing pages, call to actions, social media shares, and more. Developing these kinds of interactive experiences can add on an additional 10-30% of overall cost.
At Business Video Consulting, we offer three different combinations of pricing focus. First, we offer video and slideshow packages that include a variety of different video types (Awareness, Interest, Decision) to help keep your experience focused. Ranging from 1 to 5 videos or slideshows, our packages are split between 1-2-minute and 30-60-second videos. For the longer videos, prices range from $700 to $2,500 and for short videos, expect to pay between $500 and $2,000.
Second, we focus highly on distribution of the video content that is created. Basic video marketing and distribution setups can cost up to $1,000 each. After that, several areas of focus are considered when monitoring your campaign throughout your time with us.
Lastly, pricing can range for our additional services, web services, and offline services. Additional services like video editing, additional location, voiceover, uploads, and re-shoots cost around $50 per hour. Web services start at $1,000 for upgraded web design and because offline services include a bit more personal experience with a customer, that information can be discussed during consult.
Seems like a lot to consider right? Well, there are plenty of other things to consider as well. We cannot stress enough how important is to create a strategy so that you have a goal to reach when going through your video marketing journey. As your trusted video marketing business, feel free to contact us for initial quotes, information, or questions. Until next time.