A marketing video is one of the most expensive creative projects you will ever purchase. It’s very cost-effective if your goal is to make a short introduction or testimonial about your product, but it should be noted that quality videos with production value are extremely expensive.
If you have a really in depth product or business, then creating a longer narrative video may make more sense!
That being said, we will discuss how much a marketoing video costs, as well some strategies for keeping the price down. So let’s get started!
How much does a marketing video cost?
The average cost per minute of professionally produced online content is around 2 – 4 dollars an hour. This means that a 1 hour long documentary style video can set you back anywhere between $600-$1200.
Higher budget videos require better equipment and additional editing software which increase the overall cost. Some of the best companies out there charge up to 10 times this amount due to all of the research and resources needed to produce top notch videos.
Lengthy videos are also slightly more expensive than shorter ones because of the overhead. Companies like Netflix and YouTube pay their editors and filming professionals huge sums of money to create high quality media so they too are priced higher.
Marketing videos that are not filmed professional-style incur lower fees because they are usually done by freelance filmmakers or even the person producing the video yourself. Unfortunately, this means they are sometimes of poorer quality.
Next, you need to figure out the scope of the video
The length of your video has an incredible effect on how much it costs to create. If you have a short film idea, you can probably produce and market it yourself for around $500-1000.
If you are making up stories or creating narrative videos, this will cost more money. A common rule of thumb is to spend one hour to make a minute long movie!
By using free resources and tools, you can easily shoot under an hour. It’s very expensive if you have to pay someone else to do that work for you.
The other major factor in production cost comes down to equipment. This includes things like cameras, microphones, lights, computer software, and more.
You get what you pay for, so be aware of budget limitations before buying anything too costly.
Creative direction
Creating a marketing video can cost anywhere from free to very expensive depending on what kind of content you are creating and who is producing it for you.
The length of the video, story element, style, and tone all play important roles in how much money you have to spend.
There are some pretty wealthy companies that do not invest heavily in advertising, but their videos usually tell us something about them! For example, Coca-Cola’s “Refresh” YouTube channel tells us about the company and its products through storytelling and imagery.
So, whether you’re filming yourself or someone else, your final budget will depend on these factors as well as the type of film you want to make.
Some films seem to go on forever, while others hit the mark within the first minute! It depends on the audience, the product, and the setting.
Marketing your video
After you have spent time creating your marketing video, the next step is to market it! Luckily, there are many ways to do this. You can spend money to launch your video via YouTube or another platform, use social media to promote it, and/or create your own promotional content like flyers and advertisements.
Some of the most common strategies include promoting it on blogs, posting pictures of the producer of the film on various social networking sites, and showing it at local events or trade shows. When investing in advertising, make sure to compare prices per view to ensure you’re getting value for your investment!
Additional costs may include buying production equipment or software, traveling to and attending filming locations, renting additional editing software, etc.
Connecting with your audience
A marketing video is more than just an entertaining way to spend your time; it’s also a powerful communication tool that can connect you with your audience, boost engagement, generate interest or even influence action.
That’s why we’ve compiled some information about how much a business video costs, what kind of videos are necessary for different types of businesses and industries, and some tips on shooting and editing a promotional film.
Overall, we think a business video cost around $600-1,000 is enough for most people. But there’s no hard and fast rule when it comes to budgeting for your own video.
What matters is whether it’s worth it to you. If you’re making a movie to promote a product or service, then sure — investing in production quality footage and equipment is totally reasonable.
For us, what makes it worthwhile is seeing results. We’ve seen videos help grow our mailing list, gain new followers on social media, and make a difference in conversions. That gives us the inspiration we need to keep filming and expanding our repertoire.
