Creating a corporate video can be a powerful way to communicate your company’s message, showcase your brand, or promote your products and services. However, before embarking on a video production project, it’s important to understand the costs involved. In this article, we’ll break down the various expenses associated with corporate video production, including pre-production, filming, post-production, and promotion.
This article will cover the following topics:
1.Different types of corporate video and their costs, ranging from the cheapest to the most expensive.
2.What costs to be aware of that can start breaking your budget.
3.Help you decide which type of corporate video is right for your business.
Corporate Video Costs
Let’s jump straight in. The cost of a corporate video can vary widely, depending on a range of factors such as the video’s duration, the complexity of the content, and the quality of production values required. The budget for a corporate video can be as low as a few thousand pounds or as high as tens of thousands of pounds. It’s important to remember that the cost of a corporate video is an investment in your business, and can help you reach new customers, increase brand recognition, and improve your online presence.
The most common types of corporate video’s when you are just tipping your toe in are:
Interview style talking-head video
It’s the simplest style of video. We interview a customer for a video testimonial. We ask them a series of questions about your product that they have used. They talk glowingly about your business, your customer service and how you have helped them over 3 mins.
This could be filmed with a single cameraman @ £650 a day and edited @ £550 a day – total cost £1200 for a talking head testimonial film.
2 min video case study
You need a production company to provide a cameraman, director and producer to film a video case study at a client’s offices. This could be edited into a 3 minute case study.
Including a pre-production day and editing the average cost of this type of video would be between £4-6K.
So they are the basics. Let’s consider what costs will start ramping up your budget if you want to shoot more than just a basic case study or talking head video testimonial.
If you have a larger budget you may want to consider the following…
Before filming begins, there are several pre-production costs that need to be considered. These include creative development, scriptwriting, storyboarding, casting, location scouting, and equipment rental. These costs can add up quickly, particularly if you require advanced filming techniques such as aerial footage or character animation.
Video Production Costs
The bulk of the cost of a corporate video comes from the actual filming and production process. This includes costs such as camera operators, lighting, sound equipment, and props. In addition, travel expenses may need to be factored in if filming takes place at multiple locations.
After filming is complete, the post-production process begins. This includes tasks such as video editing, colour grading, sound mixing, and adding music or voiceovers. If you require advanced post-production services such as motion graphics or special effects, the cost may increase.
All of those elements of your budget can vary greatly.
If you’d like some advice on budgeting for a video shoot, get in touch by emailing firstname.lastname@example.org or calling 07958353239. We can give you a quote over the phone.
Promoting your video content
There’s no point in creating video content without considering how you are going to promote it. Consider this – it’s probable, according to industry standards that only 1% of people having watched your video will click through to your site. Industry research also shows that you will probably only convert 1% of the people who click through some content on your site itself. That’s 1 in every 1000. So you need to generate some click-thru’s!
You need a video strategy to back up your video content. This can include creating shorter versions of the video for social media, investing in video marketing campaigns, or creating video testimonials from satisfied customers. These costs can vary depending on the scope of the project and the desired reach of the video.
The next stage up from a talking heads video
If you have a budget that can extend further than talking heads content then you may want to consider the following forms of video production:
Budgets for explainer and promotional videos typically start at around £5,000
These require a level of creative development….
What’s involved in developing creative ideas?
Whether you need an animated explainer video or a production video involving actors, your creative agency will produce mood boards, initial visuals or a storyboard to show how they are going to produce your video.
Once you have signed off on their idea, the production company will be able to give you a budget – they won’t just pull this out of thin air and hopefully have been providing a guide to costs already.
How long is your video going to be?
One of the biggest factors that can influence the cost of a corporate video project is the length of the video. Video duration can range from a few seconds for a promotional video to several minutes for an explainer video or testimonial video. Longer videos will typically require more filming and editing, which will increase the overall cost of the project.
What level of production value do you require?
Another important factor to consider when determining the cost of a corporate video project is the level of production values required. High production values can make a big difference in the quality and impact of the video, but they can also add to the cost of the project. Factors such as the use of high-quality equipment, hiring a creative team, and incorporating advanced filming techniques can all contribute to higher production costs.
Using Stock Footage
One way to save money on a corporate video project is to incorporate stock footage and music tracks. Stock footage can be a cost-effective way to add additional visual elements to the video without the need for additional filming. Similarly, using a single music track creative or a single music track bespoke can help to keep the costs down while still providing an effective soundtrack for the video.
Music Licensing Costs
Music can significantly enhance the emotional impact of a video. However, it’s important to ensure that you have the proper licenses to use the music. Using copyrighted music without proper licensing can result in legal issues and costly fines.
There are two types of music licenses: stock music and bespoke music. Stock music is pre-recorded and available for purchase from online music libraries. Bespoke music is created specifically for the video by a composer or musician.
The cost of stock music can range from $10 to $500 per track, depending on the length and quality of the track. Bespoke music can cost anywhere from $500 to $5,000 or more, depending on the complexity of the music, the experience of the composer, and the length of the video.
If your corporate video project requires filming at different locations, travel expenses can add to the overall cost. These expenses can include transportation, accommodations, meals, and other incidental expenses.
To keep travel expenses under control, it’s important to plan ahead and budget accordingly. Consider filming multiple segments in one location to minimize travel costs. You can also hire local crews at each location to save on transportation and lodging costs for your team.
Corporate video production costs can vary widely depending on the project’s complexity, the equipment required, the number of crew members needed, and other factors. However, with careful planning and budgeting, you can create a high-quality video that effectively communicates your brand’s values and messaging.
Remember, when it comes to video production, you get what you pay for. Investing in high-quality video production can help you achieve a better return on investment in the long run. A professionally produced video can help you stand out from the competition, increase brand awareness, and drive sales and leads.
We hope this article has given you a better understanding of corporate video production costs and how to budget for your next project. If you have any questions or would like to learn more about our video production services, please don’t hesitate to contact us.
Matt Gardner started his career in radio news and progressed to working as a general news reporter for the likes of BBC News, ITN and Eurosport. Over the last 20 years, he has run his own video production company working across a broad range of industries from tech to retail; his key skills lie in video production, branding and copywriting.