Videos have become an essential part of modern-day marketing. As a business or brand owner, there is a higher chance that consumers will interact with your video better than some of your texts. Videos can be deployed in various ways, from About Us videos to explainer videos, promotional videos, and more. If you are interested in shooting a video for your brand, it is only natural for you to be inquisitive as to how much the decision will cost you. On average, you should prepare to spend between $800 and $1,200 if you take tips from Postcreatives. However, the entire video production cost may overshoot this average price. The factors affecting the overall cost include the location, gear, equipment, and cameras required to shoot the video, the crew, the total runtime of the video, and graphics.
The video production company hired may also affect the overall cost of your video production project. Some video production companies offer standard pricing based on the project you have in mind while others offer flexible pricing. You can also decide to hire a freelancer who is reputable as a means to save costs. Determining the cost of your next video production project can be a hassle. Below, we look into determinant factors in video production projects and their cost.
Factors That Affect Video Production Costs
No two videos are the same. This means that you cannot base the expected cost of one video production project on another; you can, however, extrapolate. The cost of your video production project will largely be affected by factors like the runtime of the final video. Usually, the longer the runtime, the more effort is needed to make sure that the video is perfect. You also need to consider other factors like the gear used, camera, production crew, time, labor, and whether or not you need graphics added on. The choice videographer, after understanding the scope of the project will be able to offer a quote.
How Video Production Prices are Set
Different video production companies decide on their rates using a wide range of factors. Some production companies base their rates on the time needed to complete the project. For such companies like this, you may be charged the production cost per hour or per day. Others may also charge their video production cost per video runtime. If you are choosing a company that charges per hour, you’ll most likely have to budget payment for all hours including preparation and setup, shooting, and editing.
- The Scope of the Project
Some other companies charge their video production rates based on the scope of the project. For this type of arrangement, you must define what is included in the cost of the project. knowing what is included and what isn’t can help to guide the relationship and expectations on both ends.
Video production companies may also base their rates on location. Some video production companies charge extra if they are to exceed certain areas, zip codes, or mileage. For such companies, hiring them for local jobs can save you money while also guaranteeing the desired quality outcome.