As a corporate video production company, a question we’re often asked is “how much does a video cost?” You might as well be asking how long a piece of string is, because you could do it for free on your iPhone, or spend £50,000 or more for a video with all the bells and whistles. It’s nearly impossible to answer without knowing what you want your video to look like. But there are some ballpark figures that you can use as a guide, which we’ve outlined below.
Do it yourself (almost free)
The cheapest option is to use your smartphone or a DSLR camera. As a rule, if it has decent audio, then it’ll do the job. But because it won’t have the production value, this type of video really needs quality content to carry it. Just remember not to be too ambitious if you haven’t got the resources to pull it off.
Freelancers (approximately £500 – £3000)
Freelancers can normally do the job for less than a production company. Ideally, you want someone who can do everything – an all-rounder who can produce and edit and help with concept creation and shooting. You can expect the equipment they use to be modest, but still professional.
The downside to this is that an all-rounder won’t be good at everything. You’ll also be completely at the mercy of that person – if they have one style, you’ll have to go with that, and if they go on holiday or have other clients, they might take ages to make changes. Many freelancers don’t take a strategic approach either.
Production company (approximately £3,000 – £50,000)
If you work with a reputable corporate video production company, you can guarantee that you’ll have a team of people working on your video. That means you’ll get specialists in each discipline (editing, camera work and scriptwriting) that will elevate the whole product. If you have lots of creatives bringing their brains to your video, you’ll also get their collective experience of working with thousands of clients.
A production company should also take all the management off your hands – the whole process should be a lot more strategic and process-driven, with an emphasis on results. They’ll likely have experience and a legacy in creating result-driven videos, making them that much more reliable. Plus, they should have access to better equipment, meaning they can scale up to handle larger projects, and/or multiple projects at once.
So, that’s the short answer to “how much does a video cost?”. But other common questions or queries we get about the price of videos include:
We found a company who can do it for really cheap and price is the most important thing to us. Do you think the video will still be OK to use?
The answer here is that ultimately, you get what you pay for. You won’t get something that is high-quality and credible for cheap. If you can’t afford to use a quality agency, then we suggest finding a good freelancer. You’ll be removing the margins, but you’ll have to manage them, which requires more investment of your time and brings more risk – especially if you have no experience managing video projects.
In order to get a video made, we need to provide a clear return on investment (ROI). How can we do that?
ROI comes from the video strategy, which any good corporate video production company will help you build. If your video is meant to deliver leads, for example, then that needs to be built into the strategy right from the beginning. If your video production company doesn’t think the video will deliver the ROI you’re after, then they should say so as they won’t be able to meet the brief.
Does the fee include social edits?
At TopLine Film, we always ask if social edits are required right at the beginning when we discuss distribution. Then, it’s included in the brief. If your video company doesn’t ask at the beginning, then you need to mention it.
Do we need to pay usage fees?
Like most production companies, we don’t charge usage fees for anything we create, but it may be required for actors, talent, and voiceover. When these are required, we’ll negotiate on your behalf. Again, this is something your video company should discuss with you right at the beginning of the project.
Can you prove ROI for videos?
The short answer here is that yes, in most instances, we can. For example, we had one client whose homepage video increased conversions by 30% in the first six months. But as with any marketing tool, proving ROI starts with setting objectives, and so much of it comes down to distribution. And of course, we can help with all that.
If you’ve got more questions that need answering, feel free to get in touch with our MD, Jamie. He’ll be happy to help.