Costing a corporate video can be a nightmare.
It’s the perennial question, how much does a corporate video cost?
And the answer, sadly, is “How long is a piece of string?”
Understanding what goes into a video productions costs, can make a big difference to the price you pay, and helps you to get best value for money from your project!
So, what am I actually paying for in a corporate video production?
Lots of video production companies will tell you how much THEY will cost, but you need to also add in your time to the costs.
Depending on how your project is approached, and the stakeholders involved, this can be a significant figure.
This consists of;
We plan the project, do research and script work, scout the shoot site, produce a graphics style to accompany the video, fill in forms, book hotels, stuff like that.
We show up on the site and do the filming, this is charged by the size of the crew, per 2 hours, half day or full day.
We review the footage and find all the best bits, we then put those best bits in the right order, we then grade, put in any transitions, add music, add VFX, EQ the audio, build all the graphics, add subtitles, produce different aspect ratios, check everything, make fine adjustments, check again, output for your feedback, then output the final versions in whatever formats you need.
Expenses, licences and third party fees;
This may be specialist vehicle hire, mileage, hotels, meals, flights, music licences, stock footage licences, location licences, and fees for voice over artists or on screen talent.
Where can I save money on my video cost?
Don’t underestimate how much internal costs will impact your production.
The fewer stakeholders you have on the project, the less time it’s gonna take.
The simpler you make the project, the less time it’s going to take.
Time is money.
Talk to your video production company early, get their tips about planning. Taking an Agile approach where a “Big Bang” is avoided will set you on the right course, allowing you to produce more video for lower unit costs.
There is often too much pre production done on a project.
Many will argue that planning and more planning and storyboards and everything is essential to a successful project. But a lot of it is simply not nessecary.
With Agile methods a lot of stuff can be dealt with later in the project, for less time and effort, and often with better results.
Every project has unique needs, so only do what you need to do in pre production.
Graphics and animations can take a long time to produce.
It’s faster and less processor intensive to use actual footage.
So a project which uses more real people and footage, will take less time in production than one which is graphics or animation intensive.
Producing bespoke graphics or animations also needs more stakeholder involvement, using existing company branding and graphics should be your first choice.
2d graphics cost less than 3d.
A 3 minute video using mainly real footage, will cost less than a 3 minute video with loads of animations.
So cut to the chase, what will my video cost?
If you come to us, it’s going to start at £500 per day in pre and post production.
For a two person film crew for a day it’s going to cost £850, plus expenses.
Our videos start at about 1/2 day on site, plus a day in post, and go up from there.
The more time you book, the cheaper that time gets.
The more videos you get from a project, the lower the unit costs will be.
We regularly undertake projects that are sub £1000 per finished video.
If you need a price estimate or quote, have a read of this to understand exactly what we need to provide that!
But that’s a lot more than Bob in accounts!
In video production the cost / value equation is not inelastic.
An agency can bring real value with staff full of experience and expertise, the latest in post production facilities to cut render times and optimise colour output, and all the field equipment needed to get the best quality on location easily.
All of that costs money, but it pays for itself in being more efficient, better able to tackle issues on location, equipped to tackle any challenges in post, brings more creative minds, and in the end will deliver a more creative and higher quality product.
And the most important thing to remember when comparing costs is quality.
You’ll still spend a lot of money, but it wont do the trick, and may actually harm your business.
So make sure that whoever is producing your video knows what they are doing, and can deliver the quality your business and brand needs.
What’s your top tip for costing a video?
Set a budget.
Before you define your project, think about your needs, and how much you can afford to spend.
Then when you have a better idea on how much money your project is worth to you, talk to us.
We can then plan the best approach to get maximum VFM out of your budget, and design the project accordingly.
There are many approaches we can take to communicate in video, all will have different costs. But odds are, there’s one that will fit your brand values at a cost you can afford.
For more information about just what we need to produce a price for your video, check this out!
If you want to discuss a price for your next video production, contact us!
**Pricing above correct A/O December 2022**