It’s challenging to stay relevant in overcrowded consumer markets today, which is why businesses must continue to step up their game and adapt to changing trends, to find the best way of connecting with their potential customer base and convert sales to leads. Video has, therefore, become a crucial component in marketing plans as information becomes increasingly visual.
If the potential cost of making a marketing video, however, is putting you off, don’t be deterred. One thing you must realize is that you can make a video for next to nothing or nothing at all. Videos can also cost a million dollars to produce, however. With such a wide-ranging bracket, just how much can you expect to pay for marketing video production?
It depends on fundamentally what you want to achieve. If you’re going to produce a signature piece as an engaging explainer, that will stay on your website for years, expect a budget of $1,250 to $50,000 for a decent output. If it’s an advertising campaign you’re after, you’ll be spending even more.
However, if you want to create marketing videos that drive traffic to your site, then you’ll be thinking of churning out videos regularly, in which case your budget per video will go right down. For bespoke one-off projects, you might consider outsourcing; for continuous content production, you may want to do this in-house.
Typical cost-drivers will be time, pre-production planning, location costs, shooting costs, staff costs, special effects, and editing. More time and more people add more money to the necessary budget, and the more skilled those people, the higher that number rises.
Whatever the purpose of or budget for your video, don’t be discouraged about the possible results. Small companies on a shoestring budget have still successfully achieved excellent results and viral video campaigns.
You can create content marketing videos within a variety of categories.
For instance, you can create an inspirational narrative weaved in with your brand message; an educational or instructional video to provide value-add to your customer; customer testimonials – powerful for gaining future customer buy-in; an animated video for lighthearted communication of your story; a dynamic product demonstration; company prospectus to communicate more of your messaging; and talking heads to answer those frequently asked questions.
Content videos like these take minimal editing, which you can do with free video editors like FilmForth that allows you to trim, split and combine videos, add audio and video transition in an easy-to-use tool that helps to keep costs down as well.
To break it down, here are the different levels of video production, and the resources you might need, including budget:
- Amateur video using your camera or Smartphone and know-how you picked up off of YouTube. These videos are quick and inexpensive. You can make them for free if you have your own camera/kit already.
- A Semi-Pro video is one produced with someone with some experience to navigate a higher-end camera and trained expertise. You’ll get a better quality output than that provided by a novice while still affordable. This type of production could cost in the region of $1,250 – $5,000.
- The professional output will need a team and professional equipment, and it comes with resounding credibility. Expect to pay between $5,000 – $20,000.
- A premium level of content will use top talent, high-end cameras, no holds barred graphics, and it might also require studio time. This level is the one to choose if you want to create a primary marketing video with the wow factor and if you have a budget of $25,000 – $50,000.
- Hollywood-level filming or otherwise the uppermost level of video production might be opted for by big global brands for their advertising campaign, and there are no compromises on quality. This type of production could cost anywhere in the region of between $100,000 – $1,000,000 upwards.
The bottom line is, there’s no reason to omit video marketing in your overall growth and marketing strategy. According to Incify.co, “sixty-four percent of consumers make a purchase after watching branded social videos”. If you skip on creating marketing videos, you’d be losing out on a host of benefits, including:
- The chance to infuse the “know,” “like,” and “trust” factors into your brand, bridging you closer to your potential customers.
- Driving organic traffic to your site through backlinks and shares.
- Higher conversion rates from your landing page.
To test the water, try producing your own content video from the categories above, and use FilmForth as your editing software, which is suitable for low budget marketers. Find out more about how it can help you create and edit videos on the cloud without spending a fortune on fancy video productions.