How much does a video cost?
Like any project, the cost of video depends. However , we break down what this “depend” really means by looking at the individual elements.
“How much do you charge for a video?”
After 6.5 years of being a video production house, we still come back and say - it depends.
And we wish it was any simpler than that.
Video production involves a lot of steps -
- Brief Taking
- Concept and Treatment
- Voice over
- Feedback and Delivery
Plus, video budgeting requires multiple considerations at your end too -
- Urgency of timelines
- Production quality
- Video duration
- Number of approvers
- Message complexity
Complicating matters for you is the fact that every studio/agency has their own pricing “logic” and that's why you can get wildly different price points for the same video brief.
In the absence of any “universal” pricing logic, in this emailer, i will share our pricing logic, so sit tight and go til the very end.
- Social Media Ads - USD 40-50 per sec | 3-4 weeks | Typical length: 30 sec
These are the most expensive of the lot and for good reason. Every second of this video needs to be attention grabbing and strategic to the “T”. And to achieve that, we need “time” and lots of iterations - all of which translates into higher per sec budget. A typical Social media ad is roughly 30 secs long, mobile friendly and laser focused on one message.
- Animated Explainers - USD 25-35 per sec | 4-5 weeks | 90 sec
Explainers come in various shapes and sizes, however, the ones that seem to be the most effective weave pain points and product benefits in a tight story built around the buyer persona. To achieve this however takes multiple rounds of iterations at every stage from scripting to music - with no stage being any less crucial.
For this reason, you’ll find the range of USD 200 to 8000 for explainers in the market. The lesser priced ones are of course a lot more generic ( Remember, “Hi, this is Bob!” ) and use stock graphics and music, and while they don’t necessarily “look” bad, they won’t have any stickiness.
On the other hand, the super expensive explainers will wow the audience but will burn a big hole in your marketing budget. The trick ( as is always the case) is to find the perfect balance of marketing sharpness and visual quality.
- Thought Leadership videos - USD 15-20 per sec | 2-3 weeks
Thought leadership videos have the same workflow as many e learning videos. The quality expectation with thought leadership video is not the same as the first two video types mentioned above, however, they still need to adhere to your brands guidelines and should remain engaging. The responsibility of the visuals here is to provide continuity and clarity and not necessarily, to impress the audience with its visuals. The cost is generally lower, also because the script usually comes from the client.
- Testimonials - USD 100 per day + USD 700-1100 per shoot | 1-5 weeks
Testimonials involve shooting with real people, typically your customers and your senior management. The process here is slightly different, with scripting done post the shoot. So there are two big areas where money is spent - on production and then on post production, because that's where the story is made.
As you must have already observed, animated videos are priced per sec and Live action shoots are charged per day. That's because in animated videos, every single frame is created from scratch and the length of the video is a good estimation of the total effort involved ( though not accurate).
How to bargain for the right price with agencies?
- Have the brief ready, and if possible, indicative script. Share it with 2-3 studios/agencies for an estimate.
- Ask for a treatment note or moodboard.
- Check out Fiverr’s pro services. It will be a good benchmark for price anchoring.
- Commission multiple video assets instead of briefing one at a time.
How to get the MOST out of the video asset?
- Get it translated into multiple languages.
- Get it adapted into multiple formats.
- Get shorter edits of the same - For eg., see if you can extract a 30 sec from a 90 sec explainer you just commissioned through clever editing.
- Ask for open files of the video. Use the key frames and icons in your deck and other marketing collateral.