HOW MUCH SHOULD I EXPECT TO PAY FOR A VIDEO?
This is easily the most frequently asked question we get. And that makes sense. It’s obviously an important part of the equation when you’re considering including video in your marketing strategy. Unfortunately, as you might expect, there is no great “one size fits all” answer. It’s sort of like asking, how much does a car cost. Well, are you looking for a luxury sports car or an efficient and reliable sedan? Both can be effective for certain situations, but there is obviously a vast difference in the costs of the two.
So, while a post like this can’t answer that question with a specific number, I thought we could at least lay out the different factors we consider as we put together a prospective budget for any video we produce.
WHAT KIND OF VIDEO ARE YOU LOOKING FOR?
This is where we always start. What kind of video is the client expecting to see. Is it all motion graphics? Is it an interview-based talking head video? Is it something more vast with multiple locations, etc.? Our team has ways of working with our clients to get these answers, but the best way to really understand what the client is looking for is if they can provide other videos that they like that are similar to what they’d like to have for their own brand.
These sample videos can be of wildly different products or services, but they’ll greatly help us understand what your expectations are. And as we more fully understand the client’s expectations, we can more accurately gauge the following variables.
WHAT SIZE OF CREW IS REQUIRED?
We’ve produced effective videos with crews as small as one or two people, and we’ve created videos with significantly larger crews. As we learn more about the client’s needs, we work with them to determine the most effective use of personnel. Are there specific audio needs requiring a sound engineer? Would it be appropriate to provide someone responsible for hair, makeup, and wardrobe? Would we be more efficient if we brought more gaffers or grips to help us move faster?
The team at Scofield always works with our clients to find the most efficient way to achieve the agreed upon goals. But, obviously, the size of the crew does have an affect on the overall budget.
HOW MANY PRODUCTION DAYS?
Along with the size of the crew, the other huge factor in determining the cost of production is how many days we’ll be shooting. Obviously, the more days required, the higher the budget. However, our team is experienced in finding efficient solutions to reduce the production days as much as possible.
HOW MANY VERSIONS ARE NEEDED?
Often, a client comes to us wanting a single video, but after some discussion, we find it might be cost effective to create a few different versions. Perhaps the client only wanted a short testimonial video for a social ad, but eventually realized a longer version for her website would be effective. Or maybe the client came for a lengthier explainer video but came to understand it wouldn’t take much more to create some shorter versions for their marketing strategy. Either way, if we go into post-production knowing the eventual deliverables, it allows us to be much more efficient and cost effective.
And, perhaps it’s obvious, but the number and length of deliverables is a huge component in estimating the amount of time that will be needed for post-production.
START WITH A BUDGET IN MIND
Of course, there is another way of going about pricing, and that is the client telling us how much they’ve budgeted for video. In this situation, the team at Scofield will review all of the same variables listed above, but we can then work with the client to help them plan the most efficient use of their budget.
We not only want to be your vendor for this one video, we want to form a long-term relationship as your video partner, so we love having the opportunity to be a part of the planning stage with our clients. And our clients find that this method gives them the most bang for their buck.
In the end, while we can’t just tell our clients a video costs a specific price without finding more information, this post should at least provide a glimpse into how we will come up with a number.
Do you have an idea for a video you’re wondering about? Contact us to have a chat about it and together we can arrive at a budget that will work for you and your marketing strategy.
