Maybe no one will be shocked that video content continues to rule the world in 2023. 68% of YouTube users, according to Think with Google, watched videos to decide what to buy. So let’s discuss what a typical video production costs.
You may be curious about the price of producing promotional videos given their effectiveness and significant influence on consumer interest.
The average cost of a video promotion starts at $1,000 and can reach $50,000. The matter is still up for debate because of the wide range of hourly video production rates. Let’s look into it and try to find an answer if you want to create a video for your company that will go viral but is also reasonably priced. What does it cost to produce a promotional video, then?
We’ll go over the key steps in producing a video in this post. You will learn more about the group that typically produces promotional videos as well as how producing such videos can benefit your company.
Why is promotional video important and what is it?
Given that its primary objective is not to directly sell the product, a promotional video should be succinct and interesting. It informs clients of a promotion, an occasion, or any other marketing initiative. Promo videos are created to draw viewers in, pique their interest in your good or service, and create an emotional bond.
A straightforward advertisement has a tendency to pique viewers’ interest in the purchase. A promotional video also has another goal in mind. It is designed to engage audiences, introduce your brand, and establish a memorable connection to draw additional attention to your offering.
The 21st century consumer prefers condensed video content. The short length of the promotional video, which is reminiscent of video teasers, aims to get viewers excited for what comes next. Promo videos are brief for a reason, just like teasers are. Wistia claims that videos that are longer than two minutes have a much higher chance of losing viewers.
Also important is the emotional hook. A promotional video offers a fantastic opportunity to strike a balance between building brand recognition and emotionally engaging viewers. It encourages them to find out more about your company, its opportunities, and its solutions. As a result, these videos must be interesting and include the crucial information for convincing potential customers that they require your product.
It’s true that making promotional videos is difficult. In order to maintain viewers’ interest through the entire video, it must have a clear idea and plot, stunning and captivating visuals, and be consistent. Additionally, these videos come in a variety of formats. Whichever one is best for your situation should be chosen. Try out various promotional video formats to see which ones work best for your business.
Don’t worry if you have little to no experience making videos. We’ll go into more detail about the entire procedure. Let’s first learn more about the formats you have available.
1. Typical Promotional Video Formats
Promo videos can achieve the same goal by employing a variety of strategies, tools, and techniques. There are many different styles of promotional videos. Depending on the length and complexity of the production, the price sheet for the video might include a variety of options. However, this brief overview with illustrations will assist you in finding inspiration and deciding which way you want to go.
2. Video for brand awareness
An “About Us” video is a great idea for almost any business. Its main objective is to introduce the brand to the audience, make it recognisable, and highlight the team behind it as well as its values and objectives. A brand awareness video will stand out more the more emotions it can elicit. A brand awareness video can help your business stand out from the hundreds of rivals it faces.
3. The item demonstration movie
A demonstration of your product or service in use is the best way to introduce it and highlight what makes it special. Even a one-minute long product or feature demo can engage users much more effectively than a standard advertisement or text description. The attention of viewers may be increased by using animation, engaging music, or a humorous approach.
4. Video Testimonials from Clients
If you want to show people why your product is great without personally promoting it, you should think about making a testimonial video. You can let your content customers handle it. People would rather rely on one another than on the statements of a hired actor or a representative of your business. The audience generally prefers testimonial videos, which are typically inexpensive to produce.
5. Explanation video
An explainer video is a quick tutorial that explains how your product functions and how to use it properly. The best option if you want to introduce a fairly complex tech product is an explainer video. It’s an app, for instance, with a lot of features and intricate functionality. Make it animated to make it entertaining and clear while not complicating the viewing experience.
6. Video of the Event
Three main reasons make making an event video advantageous. First off, by capturing it during an event shoot, they can partially fulfil the role of introducing your brand, product, or service. Second, this kind of video is becoming increasingly common on social media and may even go viral. Thirdly, if your budget is strictly constrained, you may be able to significantly reduce the production costs.
7. Business Culture Video
A Company Culture video is the best option if you want to establish an emotional bond with your audience. It gives employees a more individualised and relaxed introduction, bringing them closer to the clients. These videos also provide a brief overview of the company’s culture and values through a few stories of real people who support your brand. The Behind the Scenes video is also noteworthy because it provides a laid-back or lighthearted look at what goes on within the business.
What Makes a Promotional Video Cost What It Costs?
After learning about the different ways you can move, let’s return to estimation. The cost of your promotional video will typically depend on a variety of factors. Your decision could cause significant changes. Here are the main price factors and their most likely price ranges if you want your video to be both high quality and reasonably priced.
The most significant determining factors for your video production cost are:
- The type and general complexity of your promotional video
- Time on the video
- Time spent on conception, revision, and publication
- team you choose to work with
- equipment required
- Location and potential travel options
Stages of making a video
The number of stages you must complete by the time of the release is the main factor in determining the cost of your promotional video. You first select between two main options. Either hire a production team or handle it internally.
For those looking for a more professional approach to video production, the first choice is typically preferred. To do it yourself, you’ll need to spend a lot of money on equipment, which can cost anywhere from $1,000 to $10,000. not to mention insufficient knowledge and expertise. A production team will create a detailed price breakdown so you can properly plan your finances and stay within your budget expectations even though you might not know how much to charge for a one-minute video or an hour-long film. So let’s concentrate on the first approach if you are not a professional filmmaker.
Pre-production
The process begins with coming up with an idea for your promotional video, writing a script, and getting everything ready for the actual shooting. The hourly rate for a professional script writer ranges from $50 to $150, or a total of $600 to $1800. Keep in mind that the success of the concept and the script determines whether the video reaches the intended audience.
Production
The average cost of making a video is calculated over a day rather than an hour. Therefore, the complexity of the shooting process and the required amount of time will be the main determinants of the final cost.
Although the standard set for video shooting consists of one or two cameras, the quantity and cost of equipment used also depends on the type and complexity of the project. You can anticipate it to cost between $25 and $100 per hour if your video doesn’t require sophisticated features like drones and specialised lenses.
Your promotional video production team typically consists of several individuals. You can find a list of experts and an estimate of their daily rates below:
- $400 to $2,000 per day for the director of photography
- $200 to $400 per day for one or two camera operators.
- $200 to $700 per day for a sound technician
- Models and actors make between $250 and $2,000 per day.
It is not always necessary to involve the other crew members, such as the production assistants, makeup artists, or hairstylists. Only the creation of more complex videos necessitates their presence.
The extra costs might depend on the transport and the location. It will take more time and cost more money to shoot the video in multiple locations. To lower the cost of promotional videos, many are shot in clients’ homes or offices. The cost of a professional studio day can range from $500 to $3,000 or even more. You’ll also be responsible for covering travel and food expenses (up to $500 per day).
Post-production
The post-production phase typically requires a lot more time than the earlier steps. Here, the amount of footage is important. The shot material is used by editors along with color, sound, design, voice-overs, music, graphics, and more complex visuals as needed. This stage of video production also includes delivering the finished product to you in the required format.
Without special effects and other high-end features, the post-production cost of a typical promo video will range from $500 to $2,500.
What Elements Can Drive Up the Cost of a Promotional Video?
In addition to the fundamentals, let’s take a look at some other elements that could drive up the final cost of your promotional video. These features will only be required in specific types of videos and are not necessary for video production.
Voiceover
The purpose of voiceover narration is typically to represent a business, a product, or an occasion. The viewers are given an explanation by an off-screen voice. Rarely is voiceover combined with music or any other sound effects so as not to divert listeners’ attention. A voiceover for a 5-minute video could cost between $250 and $2,000 to produce.
Designing sounds and music
Unexpectedly, the importance of music can’t be overstated. It creates the ideal atmosphere and enables viewers to immerse themselves in it. Implementing it is not so simple, though. Unique content is much more expensive to create than to purchase it off the shelf. The mood can also be set by sound effects. These features will set you back $1,000 or even more in total.
Distribution
Distribution directly affects how well your promotional video does. You must disseminate it widely in order for people to see it. The cost of that is determined by the size of the intended market. Starting at $1,000, distribution costs could rise significantly.
Animation
A quick search on YouTube will reveal how animated a lot of promotional videos are. Since it is simple to understand, imaginative, and creative, animation is a popular tool for educating people about your project, company, or event. Naturally, the steps involved in creating animated video content are very different from those involved in producing live-action content, as are the costs. So how much does animation-based video production cost? The estimated prices are listed below.
- Storyboard or script: $50 to $2,000
- Drawings: $500 to $10,000
- $700 to $20,000 for animation
- $50 to $1,000 for voiceover, music, or sound effects
Task a projected rate
Storyboard or script – $50-$2,000
Illustrations – $500-$10,000
Animation – $700-$20,000
Sound effects, music, or narration – $50-$1,000
The typical cost of an animated promotional video will thus range between $2,000 and $10,000.
The Main Price Band for Promotional Videos
A promotional video is a fantastic tool for creating a bond between your brand and the viewership. It allows them to immediately immerse themselves in the environment you want to create around your project, rather than leaving them unconcerned or even frustrated.
So a 30-second promotional video might cost between $1,500 and $2,500.
Once more, a number of elements, including voiceover, animation, sounds, graphics, and any added features, may affect the video’s price. The project’s scope, size, and deadlines can all have an impact on the final cost. too As a result, the average cost of a 30-second promotional video is between $1,500 and $2,500.
You should now have a better idea of how much to charge for a promotional video thanks to this article. Its development could be time-consuming and expensive. However, it’s crucial for those who want to maintain contact with their clients and carry out effective marketing.
You’ve come to the right place if you need to make a video to promote your business, introduce a new product, or let people know about an upcoming event or sale. We at Rudri Pictures create engaging video content that helps you see how your idea will succeed. Please feel free to contact us. We’re all set to join in!