Video consumption has skyrocketed in recent years, as attention spans become shorter and mobile devices overtake desktops in popularity. By 2017, it’s estimated that 74% of all online traffic will be video; brands without corporate videos risk being left behind.
Despite the direction of digital marketing, many business owners and marketing managers are deterred from approaching video companies. Aware of how much prices can vary from one business to another, they avoid seeking quotes altogether.
So if you’re wondering: “How much should video production cost?” let us shed some light on what a respectable quote for video production services should consist of:
Establishing The Brief
Creating a corporate video doesn’t happen overnight. To achieve the right outcomes, an agency should spend the time getting to know your company, your goals and target audience.
There are so many factors to consider that you shouldn’t feel frustrated when your initial answer to the pricing question is: “it depends.” Instead, it’s a good idea to sit down with the video producer to discuss your needs, expectations and budget.
From this, an agency like ours can put together a comprehensive video brief. This is a key document that drives the entire process, outlining what each stage will involve. These will be accompanied by costs, so that you can see exactly how the price breaks down over the course of the project.
The cost, of course, relies on keeping your project on schedule and on budget. That’s why we always offer project management as part and parcel of our quote, ensuring that we deliver on the promise laid out in the initial video brief.
This also means that you don’t have to worry about co-ordinating the whole process – you’ve got better things to do with your time, after all. Having your own dedicated project manager narrows your dealings to one point of contact throughout the whole process.
From developing your script and storyboard through to editing and uploading the final results, your project manager should work well under pressure, letting you rest easy that everything’s going to plan.
A high-impact video doesn’t just miraculously fall into place. It’s the result of several meetings and careful planning that secures the right people, setting, script and equipment, all ready for video filming on the days.
To save you the time and hassle of doing this yourself, as well as giving you confidence that you’ll get it right first time, a credible video production company should incorporate quotes for pre-production work too.
These could include concepts, storyboards, script development, identifying locations and casting fees to name a few. Of course, they may also entail expenses and mileage, so bear this in mind if you have big ambitions for your video.
While you may wish to cut corners by doing elements yourself, bear in mind that an agency may actually save you time. Our producers, for example, have an intimate knowledge of the best spots for video production in Manchester.
With the preparation complete, your video can finally get underway. Filming can take anything from a couple of hours to several days, depending on the nature of your video. So consider this when storyboarding.
The production itself is a sight to behold. Your business will be the star as the producer, camera operator(s) and any cast members bring your script to life. You should be given the day rate of each member, as well as an accurate estimate of how many hours or days they will be on set, and the associated mileage.
Production costs will also include prices for the camera kit and any specialist equipment. Perhaps you’re looking to capture drone footage with an aerial filming unit, or time-lapse shots for stunning visual effects. Again, being made aware of the costs this will incur from the beginning will avoid any unexpected fees later.
Post Production (Editing)
After the final ‘cut’ has been made, your video production agency will go away and start pulling all those shots together into something remarkable. Post production involves assembling together interviews and visual footage, then adding music, voice over, animations or motion graphics into a cohesive and engaging video. This too will be discussed in the initial stages, helping you factor in the associated costs with your overall budget. After all, you don’t want your video to fall at the final hurdle simply because you’ve run out of funds.
Feedback and ammendments
Now, it’s time for you to review the fruits of our labour, casting a critical gaze over the video before its final delivery. This is your opportunity to share any feedback you may have, so that amends can be made before it goes live.
We know that you’ll probably have your own ideas, which is why we factor in ample time to make any amendments you request. Having gathered your feedback, the editing team can then put the final tweaks to your video, to ensure you’re nothing short of over the moon with the end result.
When the project is done and dusted, we’ll deliver the video to you in your chosen format. You may wish for DVDs or web optimised video files – or a combination of several formats. Just let us know when we’re putting together the quote, and we can include this in our price.Bear in mind that if you’re working to a tight timeframe, you may need to factor in a courier fee to have the DVDs delivered promptly for that event or presentation. If the agency believes you might be cutting it fine, they should give you a heads up right at the beginning.
So, how much should video production cost?
Hopefully, this guide has highlighted exactly why most video production companies will tell you that “it depends” when such a query escapes your lips. But actually, this answer is a good sign that the agency in question is giving you a bespoke service, tailored to your needs.
Be wary of video producers that claim to offer all singing and dancing packages for a set price. You’ll probably find that hidden fees crop up when you least expect them, making that reasonable quote spiral quickly out of control.