We regularly get questions about the typical cost of videos, and unfortunately, there isn’t a quick and easy way to answer that question as the range can vary so dramatically depending upon the scope and needed services.
Let’s get some rough numbers out of the way first, then we’ll break down variables and video ad budget planning below.
Keep in mind these are rough ranges:
More basic videos can range anywhere from $3,000-6,000+
The length and style can vary, but visually these would be much more basic, and if live-action, likely has little to no on-screen talent and a single location.
Mid Range Productions
The average video production cost has a very wide range depending on specifics between $8,000-$25,000.
Again, this can include animation and live-action content. Often the higher side of this range is live-action with a couple of locations and a limited number of on-screen talent. A standard 2-4 person crew would be utilized on a live-action production in this range.
Higher End
Larger productions can be anywhere from $25,000 and up. The scope of these projects and level of planning is often dramatically increased from the more basic video projects. Sometimes the cost can be high due to talent considerations, location settings, or more detailed post-production techniques like realistic 3d animation.
Budget Considerations
Here are some major variables that will come into play on any project.
Style
In the most basic sense, the style of video will heavily determine the cost. For example, a live-action promo video for broadcast tv will require a much larger budget than a case study style video to be used in a tradeshow or web channels simply due to the number of hours required by the team to make it.
With live-action work comes a number of questions, regarding the type of locations needed, actors, and the complexity of scenes and scene setups needed. Some live-action videos can be more basic with little or no on-screen talent filmed at a client’s location, other’s are highly produced with more large-scale sets and numerous on-screen talent. This will dramatically alter the required budget.
For animated and motion graphics, again, the level of detail and style of animation/video will affect it. 3d animation and certain styles of 2d animation are much more labor-intensive than more basic social media animated ads or case study-type videos.
Production and Post Production
The scope of needed preproduction, production and post-production work will be determined by the overall scale of the production and style of production. Typically the production budget of an ad can range from 10-25% of the media spend that it will be run on. It makes sense on larger scale broadcast campaigns to run much grander ads to capture the audience’s attention that you’ve spent so much to reach.
Length
Length is another major consideration, while there isn’t always a direct correlation between length and budget, it is often a major driver.
For animated explainers, motion graphics videos, and social media PPC video ads, the cost is a major factor, but the level of detail and style of animation is still a more core driver of cost. Animation and motion graphics that utilize custom illustration work, increase the number of hours required to produce it significantly.
That being said, we’ve made 30-second ads that were orders of magnitude more expensive than 4-5 minute videos.
What type of video should you make?
The answer depends a lot on your marketing plan, industry, and business goals. If you are an automotive dealership, a 30-second monthly ad makes perfect sense as it can be used on broadcast, social media channels, and paid PPC placement.
If you are a tech startup, likely an explainer video that clearly demonstrates the value proposition to your target audience would make the most sense, often these will be used at tradeshows, email marketing, website, and social media purposes.
The key is to think through what marketing channels you want to utilize and how your video will be watched, who your audience is, and why they buy from you.
What type of video content do your competitors have?
Video Vs Static Ads
Videos will always be more engaging pieces of content than static ads in nearly any use case. For marketers that utilize paid ad channels, whether Google Adwords display ads, youtube, LinkedIn, or Facebook, ads – video ads will 100% perform better and deliver lower costs of conversions due to more engagement and a better click-through rate.
Tradeshow Content
Tradeshow audiences will be much more likely to spend time at your booth if you have engaging content, whether standard video or VR content.
It’s nearly expected to have some sort of video content at a tradeshow. A video produced for a tradeshow can be used for more than a year in most cases, spreading the cost out over a significant length of time.
Want video content? Need trade show media?
Volan Media is a top Knoxville video production agency specializing in broadcast production as well as digital video and social media ads. For top Knoxville trade show video, social media video ads, digital video ads get in touch!
