The price of producing a video varies, so, let’s go with a Good, Better, Best model and I’ll break it down. I’ll show you sample videos from each video production budget at the bottom of this post, so you can visualize the difference too.
Before you waste money on a video, do a bit of planning to help your marketing strategy succeed. Regardless of budget, you need to plan the same three things for every video production.
- Who is your target audience?
- What do you want to accomplish with the video?
- Once it’s done, how are you going to get your video in front of your target audience’s eyeballs?
If your budget is less than $5000, focus your money on a professional video edit. A decent edit usually runs $2000 – $4000. You can create a short 30 second video for the same money by investing in stock footage and a good script writer. If you’re broke, dig deep and shoot some footage on your phone. Use iMovie to edit and add another feather to your cap.
(Note: These sample budgets aren’t set it stone.)
The GOOD Video Production $7,500 – $15,000
This is for start-ups, quick turn around times, first timers, or folks who just plain ol’ have that in their budget. Here’s what you can expect to get for that price. Videographers get paid 3/4 of their rate for a half day, so the best value is to hire them for the full day.
- A 1-2 day shoot or 2 half days
- 1 Videographer / 1 Director/Producer (a guerrilla crew of two – we’ve done good vids this way)
- A 1 – 3 minute video (obviously a 60-90 second shorter video will look better because your focusing your $)
- Edited with logos, titles + royalty free music
- Either you write the script, or interview questions (for your testimonial video) or your video production company will create one
- Lighting: LED panel light (comes with a videographers kit – not the best light, but better than dark circles under the eyes)
- Audio: lavalier mic with a zoom recorder (comes with a videographers kit)
- Camera: Sony or DSLR
- B Roll
The BETTER Video Production $20,000 – $50,000
This is for companies who have a strategic marketing plan. They know exactly what they want to achieve, and have modest resources for distributing it to their target audience. Locations, videographers, and the video editing are your biggest expenses.
- 1-2 day shoot with 2 videographers or a 2-4 day shoot with 1 videographer
- Multiple angles recorded from cameras for a more exciting edit
- 4K Cameras (it takes longer to edit these big files) + drone
- Video director / producer
- Audio person with a boom + lav mics
- Script writer with revisions
- Pre production + concept development
- Location scouting for a free or inexpensive location rental
- EQ rental with upgraded lighting (this make everyone look pretty)
- Onsite Digi Tech – to guarantee your footage is safely stored
- Wardrobe + props
- Editing with thoughtfully placed B roll, nicer royalty free music from Premium Beats, and sound design
- Stock footage filler, if you need to add a missing piece
The BEST Video Production $100,000 +
This is for commercial videos, digital award winners, and the trade show conference show stoppers. These budgets move needles, inspire consumer spending, and employ more workers. They focus on one emotion: love, sadness, fear, humor, etc.
- Pre-production + concept development
- Script writing that is dialed in
- Multiple videographers
- Producers / directors
- Assistant camera persons
- Audio peeps
- Stylists (make-up and wardrobe)
- RV rentals for talent
- Hotels + meals
- Lighting + EQ rental
- Cameras of your choice
- Drone footage
- Camera cars, drivers + stunts
- Onsite pre-production planning for camera crews to choreograph their shots
- Talent + casting
- Studio rental or location rental (including scouting)
- Rainy day weather plan
- Custom music created or recognizable music license
- Social media clips + stock footage for your media library
God knows, I’ve failed plenty. It’s because I’ve failed so often that I can be more open minded today. I can’t tell you how many videos I’ve produced that are:
- Ego driven
- Don’t have a plan to distribute after they’re made
- Aren’t spending their money wisely to A) hit their target audience or B) address the problem efficiently.
Don’t be one of those guys. Be open minded. Be smart. If you can’t, call us and we’ll help you do both. Lastly, my consultant girlfriend at Deloitte says you need 1 to 2 years to accurately measure the effect of a video on sales. Be patient. If you did your homework – it’ll work!
A Good video production sample (above) Cost: $8500…shot in 2 – 1/2 days.
A Better video production sample (above). Cost: $22,000…3 days of shooting, drone, time-lapse.