Usually when we get a call about producing a marketing video for corporate clients, the first question is “How much will an X minute video cost”? Our answer is almost always, “Well…that depends…”
As with most anything in this world, video production cost is determined by a litany of factors. Where / what will we be filming, what kind of lighting, what kind of audio, how big of a crew, will we need to rent extra gear, what is the end product, what type of shots does the client want (obviously, an aerial shot is going to cost more than 2 cameras on tripods), what’s the estimated time it will take us to complete it, how quickly does the client need the video turned around, etc. All those factors (and many others) are going to encompass the cost of producing videos. There’s no doubt, a quality, professionally done video is usually not an ultra cheap task. Sure, you can go on Craigslist and find someone to do a video very cheap, but guess what your end product will look like…
Most people do not realize the amount of time, effort, energy, and thousands of dollars worth of equipment that go into making good, high quality, videos. Our clients typically only see the day(s) of filming their videos. A good example is if the client would like a 3 minute marketing video, its going to take anywhere from 3-5 full days (in addition to the filming days) to make that 3 minute video in post-production. If you do 2 days of shooting and 4 days of post, that’s 6 full days of work for a 3 minute video. That’s a normal gig for us. It’s a tedious task piecing it all together, but when that video begins to take shape, it makes all those long days worth it.
That’s not to say video production costs have to be unreasonable. We will do everything in our power to produce the best video we can for the least amount of money possible. Our philosophy is that if we are transparent with our costs to the client and they see we are working hard to do quality work for reasonable money, they will come back to us over and over when they need a video produced.
Other companies might just throw high numbers out right at first with no intention of retaining the customer for the future. For my company, a lot of business is repeat and I strongly believe in the Lifetime Customer Value way of thinking when it comes to pricing. To sum up, there are a lot of questions that will need to be asked by both client and production company before a final budget is determined. My advice to people seeking video production services is to have as much info on your project as possible when you start soliciting quotes. Information is key and will make the initial process a lot easier.