How Much Does It Cost To Create a Marketing Video For My Business?

* [Updated January 2020]

What to think about first when planning a marketing video for your business. Hint….It’s Not the Price!!!

The first thing that people think about is usually, “How much will it cost to create a marketing video?“, when it’s the message and quality of the final product that your audience will always remember. How did you make them feel about you, your company and your brand? Although the ways people buy may have changed over time, the reason they buy has always been the same.  

Advertising with video seems like an expensive undertaking. After all, the commercials on TV can cost thousands of dollars just for the time slot. Yet, that is no longer the case. The barrier to entry for video marketing has changed drastically over the years. Some equipment can be less expensive, more efficient, and with the growth of the internet, is easier than ever before to get your video out there for people to see. Because of the platforms available for posting and sharing videos, it is free to share your creation. Some platforms, like youtube, offer some fairly inexpensive and user-friendly advertising options to get your voice out there.  

Video marketing is something that no growing business can be without in the Digital Age.

Why is that? 

• “54% of people want to see more video content from marketers”. -Lindsay Kolowich, Hubspot
• “Including video on a landing page can increase conversion by 80%” –Larry Kim, Medium
• “Viewers retain 95% of a message when they watch it in a video compared to 10% when reading it in text.” – Mary Lister, Wordstream

You could do it yourself, but that isn’t always the best course of action. After having to purchase thousands of dollars worth of equipment, hiring staff, and producing the video yourself; you would have spent far more money than if you just hired a professional marketing agency, like Big Hit Creative, to produce it for you.

Where can you see the real value of a professional marketing agency ?

Phases of Video Production: 

• Pre Production
  • A lot of planning has to go into creating a video. Meeting with an experienced marketing agency will help you plan the entire video production from start to finish and cover issues you may not have even considered.
  • There will be discussions and decisions made on who the video is being marketed to, the platform it will be on, and the marketing strategy.
  • During the Pre Production period, the idea of what the video will look like at the end will be planned to give the rest of the production solid direction.
  • Any changes to the script will be made.
  • Storyboarding to visualize the video.

• Production
  • The agency will have the staff, crew, and plan the filming process.
  • A place will be scheduled to keep video consistency between shots.
  • All other video assets will be recorded or obtained. Such as filming, music, voice-overs, animations, motions graphics, etc.   

• Post Production
  • The raw footage will be separated out between the usable and unusable.
  • The footage will be edited and stitched together to make the video look like it was planned to in pre-production.
  • Any edits that need to be made will be made, such a lighting or color changes.
  • Audio mixing and syncing

Since a professional agency already has the tools, equipment, and experience necessary it would be less expensive to bring them on to help.

How much can you expect to pay for an agency to do your video?

I’ll get straight to it… Based on the industry norm here’s the range. You could expect it to cost from as low as $1,200 to upwards of $50,000 for up to 1 minute video of high quality including clean crisp sound.

With such a wide range of prices, you might wonder “How much is the video I’m wanting going to cost me?”. This will be based on a wide variety of factors when it comes to video production. Length, quality, audio, and so much more. If you want to keep costs down you will have to pick and choose what’s most important to you.

What are the variables to consider when it comes to cost?

Length!

What will affect your cost the most will be the length. A 1-minute video will keep you on the lower end of the price spectrum. Starting at around 3-4 minutes is when you’re going to start gravitating to the upper end of the spectrum. The cost goes up not always because of the actual filming, but because of the post-production as well.

The majority of the work done on your video will be during this post-production period. All the raw footage has to be analyzed and have the usable footage separated out from the unusable. The footage then has to be structured to fit together and blend well with one another. This is followed by any edits that need to be made which is a long process only made longer by every additional minute.  

Don’t Skimp Out On The Audio!

I had a professor at college always say “Bad visual can be saved by good audio, but bad audio can’t be saved with good visuals”. Perhaps one of the most under-appreciated aspects of a video is the sound. Most don’t realize that the quality of the audio makes some of the biggest difference in a video. It’s what will truly separate your professional video from an amateur one.

It may cost a little more to get the talent you need to record your video’s audio, but it is certainly worth it. It’s possible to keep costs down when it comes to audio too. Just make sure not to cut corners when it comes to the audio quality. Pre-made good quality stock tracks can be purchased for a fair price. However, if you want custom music or sound that will drive up the price and fast.

Quality over Quantity

It’s true what people say about “Quality over Quantity”. It is better to have a high-quality 1-minute video then and “ok looking” 3 min video. This is where choosing the right agency will be best to help keep the cost of your video down. If you were producing the video yourself the camera alone would cost you more than the agency would charge you to produce it. And let’s not even talk about the taste that you could leave on a potential client’s palette if the video is of poor quality. 

Now if you are wanting the highest quality video you can get your hands on, that is going to raise the price. The camera needed is not only very expensive but it also needs to be handled by a trained professional who knows all the ends and outs of the camera. In actuality, you don’t need that high quality of a video, especially if you’re working on a budget. There is a variety of quality you can choose from.

It’s also important to keep in mind how the video will be viewed. If you have a video produced at the highest quality possible will it even matter? Does the device the individual is using show that quality you spent all the money on? How big will the file be? These are all questions you need to ask yourself when deciding the video quality.

The Script

Do you have a script in hand or do you need one written? This is very important to consider when having an agency produce your video. If you have no script in hand then it’s up to the agency to write it; which is an additional cost to consider. If your looking to stay on the lower end of the price spectrum it would be best to come with script in hand. If you need some help a simple script consultation is a good way to get started without having to pay the agency to write it for you.

The Technology!

Now if you’re looking for a new and exciting way to produce your video then there are several new technologies you can try. Some more expensive than others. Keep in mind who your video is for, how they will view it, and the purpose of your video.

• VR
  • Virtual Reality is all the rage nowadays. With the use of an omnidirectional camera or a collection of cameras, one can film in full 360°. Keep in mind the technology the viewer will need to fully experience 360° video. Most common ways of view these video are via personal computers, mobile devices, smartphones, and headsets. While VR will make your video stand out it may not be what you need. With all the extra work need to make a 360° video it costs more than a normal video.

• Live Streaming
  • If you are wanting to stand out with your video in a cost-effective way why not try live streaming. Live streaming is readily available and certainly growing because it supported by many platforms like Twitch,  Facebook, Youtube, Instagram, and even GoPro now offers live streaming options. Since the video is sent out live on the web there is no post-production, which helps eliminate cost. People watching a live stream tend to be more engaged than normal viewers. Live streaming platforms even offer live to chat with those who are watching. 

• Animation
  • While not the cheapest route to choose for producing your video animation can help you stand out among the hundreds of videos people see. Animations also ages very well, especially the more cartoon animation styles. With the multitude of animation software available animation has become cheaper in recent years. However, a highly skilled individual is needed to create the animation. Then the voice over has to be recorded a synced as well. Like everything, it has its pros and cons.

Are you interested in what video can do for you?

Video marketing is certainly growing and is everywhere. The barriers that once restricted entry are no longer there, thanks to internet platforms and social media. Because of the multitude of platforms now available, you can post videos for free making the only cost to you is the production of the video. If you want your video to reach more people, platforms like youtube now offer various advertising options. Big Hit Creative can help you make the perfect video.

For help with custom video creation and marketing,  give us a call at (972) 850-7312 , we’ll be happy to help you create a professional video that you can be proud of. Kim, Larry. “31 Surprising Video Marketing Facts You Need to Know.” Medium, 2 Jan. 2018,    medium.com/marketing-and-entrepreneurship/31-surprising-video-marketing-facts-you-need-to-know-3fb14d62675e. Accessed 19 Feb. 2019.

Kolowich, Lindsay. “16 Video Marketing Statistics to Inform Your 2019 Strategy [Infographic].” Hubspot,  28 June 2017,      blog.hubspot.com/marketing/videomarketingstatistics#sm.0000h4rgwfoa1fouwqm23llpma557. Accessed 19 Feb. 2019.

Lister, Mary. “37 Staggering Video Marketing Statistics for 2018.” Wordstream, 24 Jan. 2019, www.wordstream.com/blog/ws/2017/03/08/video-marketing-statistics. Accessed 19 Feb. 2019.

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