How Much Does It Cost to Make a Promotional Video?
To begin with, for our brains, videos are several times easier to perceive than text ads. On average, a YouTube user watches about 150 videos per month and spends at least 10 minutes a day browsing the site. Consumers become 175% more loyal to the brand after watching the video, and 55% decide to purchase the product. Undoubtedly, video advertising is a very effective means of promoting your ideas, products, or services. At the same time, their number on the Internet is increasing every day exponentially. As the volume of content grows rapidly, it becomes increasingly difficult to create a unique video.
How much does it cost to make a promotional video? This is a question that is asked not only directly by customers but also by people who are interested in the video production process. And most of them are surprised when they don’t get a clear answer. It is a common misconception that the promotional video prices depend primarily on its duration. In reality, the quality of the product and, accordingly, the cost of its creation depend on the complexity of each scene present in the video. Thus, a 30-second video in certain conditions can cost much more than a presentation film several tens of minutes long.
What makes a great promotional video
First of all, a promo video shouldn’t sell the product itself but the idea of the brand. This method is the most effective for attracting customers to the brand. If the values and thoughts of people are close to values and thoughts depicted in the video, they will become loyal to this particular brand.
The use of template phrases (for example, “our product is the best on the coffee market” or “we guarantee a high quality of service”) kills the audience’s interest from the very first seconds of viewing. Of course, the promo video is aimed at informing the potential buyer about the benefits of the product. However, it is necessary to make a lot of effort so that the video doesn’t become another faceless “masterpiece” of marketing.
A good promo video must impress the viewer and bring in a new experience. This can be done using several different tools, ranging from the use of comic phrases to impressive special effects. And of course, the promotional video price is important. You shouldn’t save on it.
What you need to know before shooting a promotional video
What is the price for a promo video? This question is asked by many marketers and entrepreneurs, especially if they had not previously used video in their communication. Experience shows that the final cost of video advertising can be from 3,000 to 50 million dollars. Professional filming locations are expensive. The construction of filming pavilions is even more expensive (in many cases, renting a house with the right interior is a good alternative). Attracting celebrities is a significant aspect that increases the cost of an advertising video. Yes, you can often achieve your goals with little-known actors, but it is better if a superstar takes part in your promo video. Also, if you decide to change something after the script is approved, you will have to pay for it extra. So, carefully read the script at the approval stage, ask questions, and clarify important points!
There are a huge number of factors affecting the cost of production of a promo video, which must be taken into account when planning the production budget. So, what is the cost of a promo video basic plan?
At the heart of each promo, there is a creative concept that captures the attention of the viewer and reflects the philosophy of the brand. It can be an original game plot, an impressive story, or an unusual product demonstration. The whole variety of creative ideas is impossible to describe. But they are necessary for each video so that it stands out in a media stream. It can cost you about $1,000.
To accurately calculate the cost of producing an advertising video, you must already have a script. You need to contact a creative agency that deals with writing scripts or in a video production that has a creative department. The estimated cost of finding an idea and writing a script is $1,000. The price may fluctuate depending on the statement of the problem and the number of ideas proposed.
A special line of expenses is the location of filming. The promotional video average prices for locations start from $200 if it’s someone’s apartment or studio, and you can spend quite impressive amounts if the location is the roof of a skyscraper in the metropolis of another country. The location is really something you can’t save on.
To create a promo video, you need to use professional movie equipment. The general promo video pricing formula is quite simple: equipment and preproduction items are multiplied by the number of shooting days. The cost of the basic kit starts from $600 per day. The budget for equipment and preproduction items for a project of medium complexity starts from $300.
Actors and other cast members
Here a team begins, which includes actors, an art director, producer and cameraman, lighting specialists, stylists, and makeup artists. All these people are responsible for the beautiful, harmonious, and scenario-appropriate shots that viewers want to watch to the end. The modern viewer needs high-quality content, and therefore, the promo video can’t fail to meet the requirements. All this will cost you approximately $2,000 per day.
Food, water, transportation
You will have to pay for daily parking, food, drinks, and pocket expenses. Among other things, you will face unforeseen upsets both for you personally and for the film crew. It’s also possible that you will need to block the street to take a shot, and you have to pay for it too. Therefore, always carry a couple of hundred dollars with you.
At the final stage, the post-production takes place – the selection of the best takes and their reduction into one finished product. The cost of the editor’s work depends on the length of the video, the number of transitions and effects, the availability of titles or additional graphics. In the end, the recommended costs for a 5-minute promotional video can start from $3,000 and reach several thousand dollars.
Tips to save money on video production
A well-made video about a product or service increases the attractiveness of your project in the eyes of the audience. However, a good promotional video costs a lot of money. But is it possible to reduce the price of the promotional video? Yes, it is. Find out several tips on how to create instant promotional videos at affordable prices.
Pick your marketing team
To begin with, it is worth noting that effectiveness depends not only on the professional qualities of individual specialists but also on the ability to work in a team. Each direction should complement the other, helping to adjust processes and launch new advertising campaigns. It is extremely important to choose those employees who are motivated to develop. A good criterion is a willingness to invest your time in the acquisition of new knowledge.
Communicate with creative agencies
Most likely, you communicate with others through messengers, that is, remotely. But you should understand that face-to-face communication is much better because you can learn and get more form this. You can ask important questions and get answers immediately; you can voice problems, and they will be copped faster; if you see some defects on video, they can be changed before they reach post-production. And of course, you can get some tips and ideas for free when you communicate with creative agencies.
Most of the video content has musical accompaniment. As a background, songs of famous performers/groups, classical music, and so on can be used. However, it is prohibited by law to freely use someone else’s musical creativity, as this violates the copyright of the singer, label, or media company. How much does it cost to pay for music and sound design for a promo video if it is licensed? If you use music like this, you’ll have to pay from a few hundred to tens of thousands of dollars for it. So, if you don’t want to pay for licenses, then just don’t break the law.
This is perhaps the most important thing is the issue of saving money when creating a promo-video. You can face different problems from the broken lens to a sick actor. If you don’t insure against unforeseen circumstances, you can pay a lot for it. Good insurance is a good way to save money if something goes wrong, so don’t neglect this rule.
A promo video is one of the most relevant ways today to show a product or service from the best side. Therefore, it is obvious that you shouldn’t save on it. The price breakdown on video production costs for promotional films of high quality consists of several components – the name of the company that will work on your project, creating the concept of your video, hiring actors, production, namely filming and post-production.