One of the most common questions asked about promo videos is about the cost. Many times, businesses don’t fully grasp what goes into the process and other times, they believe the cost of video production is outside of their budget. Yet, putting a price on promo video development isn’t that easy to do. There are many factors that contribute to the cost.
What’s a Starting Point, Then?
How much does it cost to produce a business video? You can budget between $3,000 to $50,000 on a professional quality video for your promo. However, prices can rise significantly higher – even crossing the $200,000 market in some cases. Again, this depends on what you need, the length, the complexity, and the overall design. That’s a pretty impressive range. And, it can vary even more for some types of productions.
What Factors Contribute to the Price of a Promo Video?
What goes into creating a budget for a promotional video, then? Many factors. Here are just a few things to take into consideration.
- Who is involved and who needs to be paid? If you are bringing in people to act, it costs more than having your company’s management discuss a product.
- Which professionals need to be on set? This includes a director, crew members, as well as the team to manage lights and sound. You also need to consider the pre-work that goes into this setup.
- Production process costs? From the development of the script to the completion of the editing, there are many factors that go into the actual production process. You may need graphics created or you may need very few edits.
This is, of course, just a basic outline. A variety of additional costs play a role in the actual production of your video.
What Is Really Going to Define Your Costs?
The most important factors to determine the cost of video production have to do with what you are creating. An animated video is going to cost much differently than a full on short story. The concept, the script, and the location are a good starting point. Then, there is the need to develop a plan based on the type of cameras and design necessary. Do you need props?
How do you know what to expect when it comes to creating a video budget? Work with a video production company to get an idea of what to expect. Discuss your ideas (if you have them) along with your end goal. Then, you and the team can work out a plan to address every facet of the process. You can end up with a high-quality production without overspending on your budget. The key is to learn what you need based on your business, product, or service.
