We always get asked the same question: how much does video content cost?
And our answer is always the same: it depends.
Think of it like searching for a house. If you were to ask, “how much does a three-bedroom house cost?” you’ll get hundreds of answers from different agents. A three-bedroom beachfront home in Malibu will have a different cost than a three-bedroom suburban home near Philadelphia. What is the square footage? What are the amenities and updates? In what area of town is the house? How large is the property? Does it have a good structure? Is the school district strong? Even the sales of nearby properties have an impact on the cost of a house.
Video content production is the same. A two-minute video is the same as a three-bedroom house. It all depends on the scope of work and the range of variables. Moreover, just as you know how much you want to spend for a house, you need to know how much you want to pay for video content. The search starts with your budget.
Let’s take a deep dive into what variables can change the cost of your video content and why it’s worth investing in a strong video campaign.
What will affect the overall cost of the video?
1. Scope: What is the scope of work? Will the company be shooting for a day or for a week? Will they be creating it from scratch or using stock? Are they shooting in one location or multiple?
2. Experts: Who will be working on the video? What is their talent scope? Will you need illustrators, creative directors, marketing gurus, voiceovers, sound designers, animators, directors, DPs, make-up, wardrobe, etc.?
3. Tools: What equipment will be needed to create the video? Will the company need to employ specific video tools, like drone videography? Will you want to employ 4D or HD?
4. Pre-production planning: Who’s writing the script? Will your production company help create the script and storyboard? How involved will your production company be in the prep process?
5. Location scouting: Where will you be filming? Do you need specific permits? Do you need to rent locations or will you provide the locations in-house?
6. Special effects: Will this be a 3D video? Will you need graphics, motion design, animation green screen? Will you need to add in other effects to make the video come alive?
7. Actors: Will you need actors in the video? Will your production company be doing the casting? What will the actors’ expertise be—in school or professionals?
8. Editing: How extensive will the editing and post-production process be?
9. Platform: Who will be watching this video? Will you be streaming live?
10. Type: Which type of production will you need? Is it an ad campaign, training video, product video, recruitment vid, event production, etc.?
Overall, cost boils down to time and resources. How much your production company puts into your video will determine the expense of the finished product.
When you’re thinking about what kind of production you want, consider the following questions:
Then, follow our 11 steps to create an effective video content strategy. When you have a concrete content strategy, you can then establish your budget. Once you have a budget, you can further understand how the above 10 factors will blend to build your perfect video.
Remember: cutting corners on costs means cutting corners on video success.
Once you have a general strategy and budget, you need to choose a company to help you. There are five types of video costs and qualities: amateur, semi-pro, professional, premium, and Hollywood. Each will help you create a video… but not necessarily the right video. You want something that will fit your budget while also relating to your audience, growing your brand, and delivering results.
True Film Production is a premium production company. We use top-level talent, high-end tools, and strong story processes to set you apart from the competitors. We generate a marketing strategy and compelling story to help build brand awareness and ensure you receive the highest possible return on your investment. You don’t have to construct a video strategy and budget by yourself—especially if you’re new to video content. Let us get you going.
Using a premium company like True Film is necessary any time you want to use your video to differentiate yourself from your competitors and market. Never let your budget shape your video’s success.
Why should you even worry about a video content strategy? Why bother? What’s the return on investment?
Dr. James McQuivey of Forrester Research said that one minute of video is the equivalent of 1.8 million words. A picture may be worth 1,000 words, but a video is worth 2 million.
Moreover, Syndacast reported that 52% of marketing professionals worldwide find that video has the best ROI of all content strategies. Those who use video to grow their revenue do so 49% faster than non-video users, according to Vidyard.
Our society is growing increasingly enamored with video. Millennials are especially engaged primarily with video content on social media platforms. Video is proven to be the most effective communication tool for marketing because of the trifold stimulation of visuals, audios, and text together in a narrative format.
If you want to maintain stride with your competitors, you need a solid video strategy.
Ultimately, video products:
Learn more about why videos are worth the investment and why you need video to be your number one focus for your content strategy.
Unfortunately, there’s no cut and dry answer for the cost of a video. What you put into the video is what you get out. And at True Life Production, we believe that everything that you “get out” of your video should exceed your expectations.
Before you purchase a video, do your homework. Understand how the above 10 factors will play a role in the overall cost of your video. Before coming to a production company, there are two key points to consider:
Once your production company has the goal, scope, and budget of the video, we can “reverse engineer.” We will come up with the strongest video scope for your money. We will balance the different criteria to make sure your content needs are met while still remaining in your budget.
Try True Film Production for just one video. After publishing, we’re confident you’ll be a believer in the ROI of video content. Request a quote now to see how we will create a superior video for your marketing strategy.
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