When making a marketing video, it is vital that the final result looks professional as the level of professionalism in your video will directly affect your company’s image to consumers.
But professionalism doesn’t necessarily come at a fixed price.
There are many different video production options such as video production houses, freelancers, DIY animation platforms, etc. to choose from once your company decides to make its first video.
These options can range from expensive to highly economical to free, depending on your style choices and goals for the video.
1. Your Budget: $5,000 – $10,000+
Your Options: Video Production Company
When choosing a video production company to work with, there are some minor variables that can affect the price.
However, for the most part, big video production company offerings come in the form of package deals with fixed prices for each package.
CONCEPT PLANNING:
The production house will walk you through conceptualizing your video based on your goals for the video, stylistic choices (live-action or animation), places where the video will appear, storyline, length of the video, etc.
PRE-PRODUCTION:
With your collaboration, the production house will write up a video script and create a storyboard, which you will consistently review and edit.
They will evaluate the length of the shoot and size of the video crew needed, based on the length of your script and the difficulty of your storyline.
Your video crew can simply consist of a videographer, or you can add members
(i.e. additional videographers, sound technicians, a live online streaming coordinator, a hair and makeup person, etc.).
Though, adding professionals like these will, undoubtedly, increase the cost of the production.
If your company has chosen animation
, the production company will provide the script and storyboards, which you will consistently review and edit.
As well as help your team pick a style of animation that best fits your video’s needs (motion graphic, whiteboard, cartoon animation, etc.).
PRODUCTION:
Production costs depend heavily on the number of days of the shoot which is directly based on the number of locations needed for filming combined with the number of people needed for interviews.
The production company will provide you with a detailed shooting schedule and shooting script before the start of the shoot.
Your work ends after the pre-production phase and the animator will simply give you a time estimate on when you can expect to see the first draft.
POST-PRODUCTION:
You’ll have your pick of special effects, editing, sound mixing, color correcting, etc.
Some video production houses will host the video and give you video analytics to see how well your target audience perceived your video.
2. Your Budget: $3,000-$5,000
Your Options: Smaller, Niche Video Production House
Boutique video production houses can offer your company just about all the same services as a big video production company.
The biggest difference between the two is that the boutique production house may be more limited in their equipment, software, and on-staff personnel.
CONCEPT PLANNING:
You’ll discuss your video’s goals, places where it appear, storyline, stylistic choices, length of the video, etc., with the production house.
In this phase, however, you may not have the option of live action or whiteboard or motion graphics, you may only have one option.
PRE-PRODUCTION:
The production house will write up a video script, create a storyboard, and send it your way for reviewing and notes.
You’ll be offered a standard size video production crew: a videographer, a sound mixer, editor, and maybe a colorist.
You will receive a detailed shooting schedule and shooting script prior to the start of the shoot.
For animation, you will receive a range of styles of animation to choose from, though they may not have as wide of a selection as a big video production company.
Depending on the video production house, you may only be offered one of these options.
PRODUCTION:
Production will depend on the number of locations, the number of interviewees, etc.
The length of the script will be evaluated by the animator to estimate a deadline.
POST-PRODUCTION:
A limited selection of special effects will be offered as well as editing, sound mixing, color correction.
3. Your Budget: $1,000-$4,000
Your Options: Freelancers
Freelancers are cheaper than production houses for obvious reasons, though, that doesn’t imply that they don’t have access to the same high-quality shooting equipment or animation software.
The first thing your company must decide is whether you want an animated clip or a live-action video, i.e., a videographer/editor or an animator.
Live-action includes multiple steps and can very easily include equipment rental costs and contracting multiple freelancers for the different phases of the video’s production.
An animator, alternatively, is generally a one-man-band who already has the software necessary to create your video.
When contracting an animator the cost will come down to the length of the script which will influence the days the animator will spend on your project.
CONCEPT PLANNING:
The freelancer will work closely with you to help realize the best story ideas and goals for the video. In this case, you are often asked to take a larger role in the concept planning.
PRE-PRODUCTION:
Your team will write the script and send it to the freelancer for creative and logistical notes.
The animator may work with you to create your video’s storyboards, or they can do it themselves and send it your way for approval.
The videographer, alternatively, can lightly storyboard the script if you would like them to.
However, it isn’t necessary considering that your live-action clip will be relatively simple within this budget.
PRODUCTION:
Your live-action clip may consist of 1-3 days of shooting with one or multiple locations.
For animation, the animator will give you a time estimate based on the length of the script.
POST-PRODUCTION:
With this budget, the live-action clip will be edited and minority color corrected.
Sound mixing will simply consist of syncing sound bites as well as adding a song or background music.
You may have a limited number of edits and changes with freelancers.
4. Your Budget: $9.00 – $1,000
Your Options: DIY Animation Platform with or without Freelancer
For companies that have a smaller budget, there are DIY animation platforms, like Wideo, which have been created just for this purpose since a live-action video isn’t feasible with a budget this size.
When you sign up for a monthly subscription, you get access to an HD animation platform, which comes complete with a full library of characters, shapes, music, etc.
A subscription to a platform like Wideo can run you anywhere from $9-$39 USD/month.
CONCEPT PLANNING:
If you are utilizing a Do-It-Yourself platform, your team can take over all the pre-design work which cuts down heavily on your contracted freelancer’s price tag.
Your team brainstorms the concept and nails down the goals and stylistic choices for the video.
PRE-PRODUCTION:
Write the script as a team and storyboard the look of the film using the Do-It-Yourself animation platform as an inspiration for a style that your team can agree on.
It’s good to consult the freelancer at this stage to know what design tricks they can offer using the platform.
At the same time, it’s also good to look up examples of animated company videos that contain a similar style for inspiration.
This way you know just what is possible for your video and you can storyboard it accordingly.
PRODUCTION:
The freelancer will implement the design ideas you’ve chosen and edit the project using the platform.
By using the platform, the freelancer essentially becomes an editor, as everything is pre-designed by Wideo.
Your freelance editor’s experience ensures that the project has all the bells and whistles and timing of any high-quality animation video for a very low cost.
Now, of course, you can choose to cut down on freelancer costs altogether by using Wideo yourselves.
That is the beauty of an animation platform like Wideo, you can make a professional video without the help of professionals.
Wideo’s templates have the edits, graphics, and music already in place with place holders for you to cut and paste in your company’s information.
You can switch out any of the template accessories with something else from Wideo’s graphic library until you are satisfied with the finished product.
POST-PRODUCTION:
There isn’t any sound mixing with this type of budget, but that doesn’t mean you are without options.
You can upload a copyright-free song from the Internet and put it over the clip.
For dialogue, you can record it using a voice recording app downloaded onto your smartphone.
After your audio is sorted out, export the project and you’re good to go!
For even more tips and templates go to Video Ad making software
With videos, there are many different ways you can go about creating them. Like you pointed out, it also depends on the budget that you have. Someone with a higher budget might have a better looking production than someone with little to no money. The infographic you shared shows a great representation of what you should expect.
Thanks Sam, we agree! It also depends on what type of video you’re looking to create. Sometimes, quality video that require larger production aren’t needed or even desired.
Thanks for sharing this overview of video production cost estimates. Our budget is in the $2,000 range so we probably want to hire a freelancer. The infographic provided a great visual of all of the different options.
Thanks Wendy!
I’ve just bookmarked this page, fantastic web site!
Thanks Joshua! Happy to hear it 🙂 Happy Wideoing!
Cost definitely will vary depending on the complexity of the project. Great infographic, thanks for sharing!
The lists of what to expect and from who are excellent BUT I don’t know any company or crew who would produce a video for the lowball amounts quoted. Been in the video and film production business for 35 years. Some animations or one shot “stand up” videos could be done for the freelance rates depending on what the material is.
Producing a video is like building a house. How large a house? What kind of fixtures? How many bathrooms etc. Once an honest client can answer those questions, you can come up with an appropriate budget and meet their expectations. The client has to also be realistic about what they want and how much it costs.
Although the pricing dropped on videos about 10 years ago, the amounts you quoted are more like 1990’s prices.