People love video. It has a ton of awesome applications. It’s the perfect way to market your business online and engage your viewers. However, the cost can definitely be a deterrent for small to medium sized businesses.
So how do you figure out how much you should spend to get the video you want? As a small company who has to deal this question often, we’ll do our best to give you some perspective.
7 Important Ideas to Keep in Mind:
1. Don’t underestimate the time and energy that goes into planning, visualizing, and creating your animation.
Without a full grasp of how animation and video production works, clients can sometimes have a tendency to under appreciate the creative process and be more concerned about the cost and time frame rather than the actual quality. Videos are not created like magic, and we get that sooner is better, but your video is a powerful investment. They require a lot of focus, deliberation, and execution, so rushing the details could mean a sacrifice in quality and return.
2. Creating a video is a team effort and involves a lot of communication and coordination.
Whether you hire an individual or a studio, you will have to collaborate with them. They will have to ask you questions, do research, brainstorm, plan, write content, record audio, create visuals, animate, and design music and sound. And revisions are typically expected throughout.
If it takes from a few days up to a week to write your script, two or more team members are collaborating on it, and they spend multiple hours each day working and then implementing revisions, you could quickly reach 20-30 combined working hours. At a low working wage this would easily cost between $600-$1000.
Do you want a very basic whiteboard video or do you want a promo vid on par with a professional TV show or movie?
Either way, you get what you pay for.
4. The cost of your video is a reflection of the time and energy put into it and the quality you get out.
For the most part, the quote a company offers is directly proportionate to the man hours invested, the number of team members assigned to your project, and the studio’s resources and overhead costs.
5. People will instantly recognize the quality of your video which affects how they pay attention, how they perceive your brand, and how they choose to respond after watching.
Not every video needs to be a visual masterpiece. Sometimes simplicity is more important for both function and budget. However, a video on your website is your brand given life. So what kind of impact do you want to have on your viewers?
6. Visuals and animation are entertaining, music and sound help tie your video together, and the most important parts of your video are the script and the concept.
A solid script backed up with simple visuals can be far more powerful than a poorly composed message with fancy animation.
7. Even videos with simple visuals have huge potential to do wonders for your business. So imagine what a badass one can do…
Dropbox went off the charts with one of the simplest explainer videos we’ve ever seen: https://www.youtube.com/watch?v=w4eTR7tci6A. We can make you a video with much better quality for around $1,300-$2,000. If your service sells, then the video we make will too.
5 Ways to Make the Most Out of Your Budget
Putting together a creative brief will be very helpful for the company you hire. And don’t be afraid to put some groundwork in on the script content too. You should know your business pretty well and as long as you’re aware of some basic marketing principles, you can structure and create the main content of a script without too much difficulty.
2. Choose an inexpensive Voice Over
Respected and experienced voice talent can cost a pretty penny, but if your video’s main usage is going to be online, there’s no huge need for a recognizable voice or expensive recording equipment. You can save $200 or more on your budget by using an up and coming Voice Over who is trying to build clientele and may not have as nice of equipment.
Like we said above. You don’t need crazy intense animation, extremely detailed characters, vivid backgrounds, and professionally composed sound to make a good video. Simple graphics, text animations, and a powerful script can do wonders.
4. Use a Template Service
Several services make it easy to create very simple animations. It’s not nice to have your video watermarked, but if you only need a basic video and you don’t have the budget for custom production, use a free template service. If you need bulk videos, subscribing could end up paying off in the long run.
5. Hire ExplainYourSite
We are proud to say we produce high quality videos at a market low price. You can find similar quality studios around the web who charge thousands of dollars more than we do. So if you want to make the most out of any budget, we will always do our best to go over and beyond your expectations.