Promotional videos have become increasingly popular as they have a significant impact on consumers’ interests. Naturally, the question of promotional video production cost is often asked. The cost of making a promo video can range from $1,000 to $15,000, depending on various factors such as video production hourly rates.
In this post, we will go over the primary steps of the video production process and explain the team involved in creating a promotional video. We will also discuss how promotional videos can be beneficial for businesses.
Promotional videos are short and engaging, with the primary goal of not only selling the product but also creating an emotional connection with potential customers. A promo video captures the audience’s attention and introduces the brand to the viewers. It must be concise and under two minutes in duration to avoid losing viewers. The video must also have an emotional hook and engage the audience with the key points to persuade them to buy the product.
What are the Main Components of the Price of a Promotional Video?
To estimate the price of a promotional video, there are several factors to consider that may affect the overall cost. These factors include the complexity and type of the video, its length, the time spent on creation, editing, and release, the type of team hired, the necessary equipment, the location, and possible transportation.
The number of stages required for video production also affects the price.
There are two main options to choose from hiring a production team or doing it in-house. Hiring a production team is usually preferable since it provides a more professional approach to video production.
However, doing it yourself requires a lot of spending on equipment, the cost of which may range from $1,000 to $10,000, not to mention the lack of skills and experience.
The cost of an average promotional video produced by a professional team ranges from $2,000 to $15,000. The video production process is divided into three stages: pre-production, production, and post-production. Pre-production involves developing the idea of the promo video, writing a script, and preparing everything needed for the shooting process.
The hourly rate for a professional scriptwriter is about $50 – $150, which totals between $600 – $1800. Production costs are estimated per day, depending on the complexity of the shooting process and the time needed to complete it.
The team working on promotional video production consists of several people, such as a director of photography, a camera operator, a sound technician, actors/actresses, and models. Their daily rates range from $200 to $2,000. The other crew members, such as production assistants, makeup artists, or hairstylists, are not always involved and are only necessary for more complex video creation.
Location and transportation also add to the cost of production. Shooting a video in multiple locations takes more time and costs more money. The use of professional studios costs between $500 to $3,000 per day, or even more. Additionally, the cost of transportation and meals can go up to $500 per day. Post-production is the most time-consuming process, and its cost depends on the amount of footage. This stage involves editing the shot material and adding color, sound, design, voice-overs, music, graphics, and more advanced visuals if necessary.
The average post-production cost without special effects and other sophisticated features is between $500 to $2,500.
Some additional factors can increase the final price of a promotional video, such as voiceover narration, music, sound design, and distribution. Voiceover narration can cost between $250 to $3,000 for a 5-minute video. Music composition and sound effects can cost $1,000 or more. Lastly, the cost of distribution depends on the size of the target audience.
In conclusion, the average price for an animated promo video will vary between $2,000 and $12,000.
By understanding the video production process, choosing the right format, and being mindful of the cost, businesses can create high-quality promotional videos that will generate interest and boost sales.