What Does Video Marketing Cost? Video marketing is the future, with as much as 80% of the web predicted to be made up of videos by 2021.
As more and more businesses realize the immense potential and effectiveness of video marketing, the most frequent query remains the same – how much does video production cost?
Videos made with less than a couple of $100 can still amass 7 million views – so money is clearly not something that can deter you from exploring video marketing. There are two broad choices businesses face:
- To Outsource Video Marketing, or
- To Build An In-House Video Marketing Department
Cost Of Outsourcing Video Marketing
Not all videos are the same. Videos that are embedded on your website are different from those featured in the landing page. Likewise, explainer videos are different from your videos blog in the sense that they act as virtual lead-generation machines.
This is why such videos should be outsourced to professional video production companies for maximum emphasis on professionalism and quality. The cost components depend on a variety of factors such as:
- The length of the video: The longer the video, the more days it takes to shoot.
- The style of the video: The creativity and complexity of video impacts cost.
- The quality of the videographer: Quality videographers cost more.
In addition to these costs, the whole process of concept planning, production, and editing the video also contribute to the costs.
Typically, videographers’ charge on a per day basis, because the majority of their work happens behind the camera.
The whole process and cost details are:
Detailing the approach and the subject matter which forms the core of the video.
The necessary preparation of the shots, questions to be answered and the equipment needed for the video is a professional task and is generally accounted at $40 – $100 per hour.
The Video Shoot
Everything from the concept planning to raw footage that the producer thinks will add to the video. The shoot will also include setting up and shooting interviews for key individuals. Production shoots are typically charged on a day rate – $1,250 – $2,000 for a full day including a 2 person crew and $850 – $1,500 for half a day involving a 2 person crew.
Editing The Video
One of the most important aspects of creating a video, this is where it pays to hire a professional as they put the puzzle pieces together to create the story, streamline transitions, including custom graphics, music beds and incorporate client changes. The end result is a direct, impactful video targeted to the client needs. The average charge for an editing session is $100 – $200 per hour.
Creating An In-House Video Department
For businesses that are looking to revive their video blogs (vlogs) and build their brand awareness and organic traffic – building an in-house team is the more feasible option.
However, that requires buying everything from the camera to the editing manuals, and that can be a bit of a costly maneuver for businesses with a small marketing budget.
You can expect to spend over to $20,000 on equipment if you plan on keeping pace with the professionals. If you go with the bare minimum you could spend as little as $300. We advise companies to expect to spend an average of $2,000 – $5,000 for quality equipment and a few hundred for training.
The choice ultimately rests on you – the business owners – to decide what the best fit for your company is. Creation of a high-quality lead generation content is best left in the hands of the professionals whereas investing in an in-house team for regular updates to the YouTube channel or social media is more feasible. Most companies that have a successful marketing plan do a little of both, they understand what they can create and what they need to hire professionals to do.
If you need help setting up your company’s video production department, video production training or professional video production for your next campaign send us a message. We are more than happy to lend a hand.