A lot of work and effort goes into the task of marketing video production, so it only makes sense to ask; “How much is it all worth?” Funny enough, it doesn’t have to cost that whole lot. Naive marketers would make the common mistake of producing several videos with a smaller budget, often sacrificing their quality.
While a big library of ads maximizes chances for audience reach, low-quality advertisements can easily hurt your brand’s image. That’s why a fewer amount of high-quality videos is the better option for cost-effective video production.
The Short Answer
Identifying a definitive video production cost is no easy task. As mentioned before, the process of marketing video production can consist of many moving parts. Everything can be broken down into three different sub-processes: pre-production, production, and post-production. Each one can have its own budget.
From script writing to location, equipment, and final editing, each procedure requires its own set of costs to keep track of. In this article, we’ll give you a rundown of the most common expenses to ensure a cost-effective video production with your marketing endeavors!
Video Production Cost for Every Budget
In order to approach a proper conclusion for cost-effective video production, a good marketer could focus on these different aspects separately and thus decide where to allocate most of their budget.
Pre-Production
A big feat such as marketing video production would definitely require some proper preparation, which would in turn have its own costs. A common commercial may require the right scriptwriting, location scouting, acquiring permits, scheduling, and miscellaneous resources that have their own video production cost.
There are measures that come with writing a video script for your shoot. Coming up with the perfect taglines and quotes are challenges on their own, but any changes applied to your draft would also increase costs. Scriptwriting could range from $50 to $150 dollars an hour for concepts, storyboards, and final drafts to be completed. For cost-effective video production, writing a script in-house is advised if the proper resources are established.
When finding the right location, the marketer must account for the time and travel expenses, especially if you’re planning to hire a whole production crew. Although, the costs can be minimized by opting for a team who works locally and is familiar with the location you want to work with. Keep in mind that the more ambitious your overall pre-production is, the greater the cost would be!
Format or Style
The overall costs of your marketing video production will heavily depend on the initial creative concept you would like to go for. For instance, an advertisement that is completely animated would not need the assistance of a film crew. Different types of video styles would often require different kinds of assets to seek out, which in turn would affect your overall budget.
The video style could also affect the amount of time the production requires. Standard 3-minute content would take at least 3 days for approximately $3,600. In contrast, a more asset-heavy project could take much longer, and of course, cost more.
Video Duration
It is important to note that the duration of your final product barely affects the overall video production cost. Though lengthy feature films would undoubtedly weigh more on the budget, when comparing short branded commercials that are 1 to 5 minutes long, the prices for crew and equipment stay around the same area. Longer videos that have more cuts and effects would weigh a lot more during post-production due to more editing.
Production Crew
To create a good marketing video, it is best to hire a full team fit for the job! A good video production crew is composed of several different competent individuals who specialize in their own departments.
The complexity of your ad can affect the video production cost because it would require more work from their end. We can break down the expenses by looking at the different types of people who would make up your team:
- Director
- Director of Photography
- Camera Operator
- Lighting
- Sound
- Make-up and Hair
- Editor
- Motion Graphics/ Animator
Important roles like directing and editing would cost approximately $75 to $150 an hour in Phoenix. Equipment-dependent roles can vary in expense. For sound, it would be around $45 to $75 an hour, while lighting would usually be $25 to $55 an hour.
Time
The days allotted to filming and editing need to be accounted for in the video production cost. This would come in the form of day rates, and they would also consist of procedures in pre-production as well.
It is standard for most production crews to charge by the day, and shooting for half of the day would cost more than half of the day rate. With that being said, it is advised to make the most out of your day rates; optimize proper scheduling and time management for cost-effective video production. For a small crew, a three-day rate could cost around $3,000 to $8,000 alone, so be sure to use your time wisely!
Equipment
High-quality video production equipment is definitely not cheap, and videographers would often charge more to make up for it. It’s not uncommon to see equipment charges as part of day rates, but it’s for a good reason.
Ambition for larger projects may call for the entire set of cameras, lighting, mics, and grips. One helpful tip for cost-effective video production is by optimizing the use of cameras and only opt for renting the necessary equipment.
Traveling
In big businesses, it is not unheard of to take the entire crew to a specific faraway location. When that happens, the traveling expenses need to be weighed in as well. Besides the concern for the transportation of a big team, hotel and meals are factors that could rack the numbers up quickly. As mentioned before, a crew who works just around the area are choices that are easier for your budget.
Post-Production
Post-production is the process where all the magic happens. Specifically, editing and compression can often be one of the most crucial parts of your project. After all, the process of putting everything together through software will lead you to the final look of your video; the result of all the hard work and expenses.
Different types of video editing may be applied to your output. Story editing, coloring, and grading are all included in post-production. Any addition of animation and motion graphics can be added as well. Extra touches like logo animation can be outsourced to freelancers to save money, while also maintaining a professional feel.
Make It All Worth It
If there is one thing we could all learn from this post is that marketing video production can end up being pricey, but with the right planning, budgeting, and decision-making, all the money would have been well-spent. With some extra exposure from your target audience, all the effort would pay off in the form of your growth.
We hope you found the information useful, and best of luck!
