What makes up the cost of a corporate video marketing production?
It’s the age old question, “how much is this corporate video marketing production going to cost?”. And unfortunately this either makes people stop thinking about the phenomenal ROI that video for business provides or they decide to go cheap and think that their smart phone will suffice to produce a professional business video that matches their professional image.
It is easy to understand why corporate video production as a digital marketing tactic or business has been gaining momentum because of the impact video drives to every day sales and marketing results. In June 2014, Aberdeen Research published a study called “Analyzing the ROI of Video Marketing.” The study proved that how powerful digital video content marketing is to core marketing objectives. Two of the stats revealed:
- Websites with digital video production content convert new business opportunities at 2x the rate of sites that don’t
- Websites with business video content marketing need 37% less site visitors to reach the same marketing objective
So for those people that are either just getting started with corporate video production for their digital marketing tactics or are adding to their video content marketing library, you probably have a question of “how much is a video going to cost?” This video marketing tip will discuss five main areas that will drive the cost up or down, to help you budget for business video content marketing strategy.
5 main cost factors in business video production services
The first area is the pre-production time. How much time is it going to take your video production services company to plan for your shoot.
That includes the planning, the logistics, the equipment; everything that is needed to make sure everybody is ready for the day of your business video production. The more complex your business video content marketing project is, it is going to take more time in planning, than if the production is simple.
The second area is cameras and equipment. How many cameras do you need? What types of cameras do you need? What types of lenses do you need to go with those cameras? And how many lights and do you need accessories for those lights?. All of these questions will be will be taken in consideration during the pre-production planning to make sure your professional video production services company has the right amount of resources to execute on your vision.
The third area is time. This is either in the amount of hours or days it’s going to take to shoot and edit your business video content marketing project. Just because a professional video production services company might be your location with people in front of the camera for two hours, they still have set up time, they still have breakdown time and they still need to walk around your office to create what’s called B-roll footage to include your video. If you don’t know what B-roll footage is, here’s an example. The second area that goes into time is the editing process. When you have multiple cameras and external audio that’s going to take more time to edit than if you only have one camera the audio was recorded directly to that one camera.
The fourth area is motion graphics and color correction. Do you want an animated logo? Animated lower thirds and animated transitions? Do you have charts or graphics to include that you want to put some movement to rather than just having a static image? In addition, how much color correction do you want done? There is a wide range of color corrections from simple to complex that will just add cost.
And finally, the fifth area in determining how much your business video content marketing project going to cost is the experience of your team. Experience matters and you’re going to pay a little bit more for a professional video production services company with experience. Especially if you’ve never done business video content marketing before, you might want to think about making an investment in a more experienced professional video production services company because they’re going to guide you through the pre-production process, they’re going to be with you on site during the shoot, and they’re going to help you make the best decisions for your business video content marketing project.
So there you have it, the five main areas that will determine how much your business video content marketing project is going to cost.
Let us know if you have any further comments, need a quote…or just want to let us know you enjoyed the post.