7th May 2020
Cost of Corporate Videos
Corporate videos can cost anywhere from £3,000 to £30,000. Many factors affect their cost. Here in this blog we explain some of the factors that have an impact on the price. What’s more, we will get you thinking about the approach for your video so you can really maximise on your budget.
But let’s recall why are corporate videos important.
Usefulness of Corporate Videos
Corporate videos are a great way for businesses to show what they really do. They can show what their products and services are as well as give an insight of their employees, headquarters and their national and global clients.
Having corporate videos helps a company to raise brand awareness and increase understanding about their products and services. In addition, they help them rank higher in Google if optimised for YouTube, as Google rewards those companies with rich content on their websites.
Factors that impact the cost of Corporate Videos
The Production Company
The experience of the production company you will be using will have a huge impact on the price. If the company doesn’t have an existing portfolio or the experience in dealing with a ‘range’ of corporate video styles, you could find your money being spent on further edits down the road trying to perfect something that confuses all involved. Thus, the more experienced the company is, the more you will get for your budget, the right budget.
In fact, experienced producers might only need two people to shoot a good video. Thus helping you save on time and money. However, this all depends on the scale of the idea and the proposed creative approach for your corporate video.
Most times, production companies use the companies’ offices to film corporate videos. Nevertheless, some creatives might use alternative locations such as studios and or exteriors. If this is the case, the location used may also have an impact on the cost.
Furthermore, a production company may charge travel and accommodation expenses of the crew if the location of the filming is in more than one location, spread across a number of locations.
Scripting And Storyboard
Before the corporate video is filmed, the agency will present a treatment (creative visual of the idea) script to the company. It is just to make sure that the idea is in-line with their brand voice, their tone, pace and style. Before presenting any creative ideas, the creative video production agency will do research about what the company does and who their target audience are.
Moreover, they will also present a storyboard/mood board. It is used to show the colours, music styles, actors/people and locations used. Although surprising, you may have already spent thousands of pounds just in the development stage.
Filming And Editing
The quality of the equipment used is a major factor affecting the price of a corporate video. High-quality cameras and lightning, which produce a higher quality looking video, will increase the production cost.
Finally, we have the editing stage. Visual effects, music, voice overs and the length of the final product will have an impact on the price of your corporate video. The different formats needed, from embedding online, to presentations and social media will impact the price too.
Cheap And Cheerful or High-End And Cinematic?
You should always take your brand position into account when deciding to produce a corporate video. In a high-end market, your audience will expect a high-quality video. Thus, if you have corporate brand values to sustain but your budget is limited make sure you hire a production company with a high-quality portfolio of work to avoid devaluing your brand positioning.
Finally, here are some useful tips that will help to ensure you obtain effective costings:
- Use a reference video to get a quick estimate.
- Share your budget. If the production company is unaware of your objectives and your budget, it may propose a good but expensive idea.
- Be open. Although you may have an idea, listen to alternative approaches. At the end, you are hiring an agency because of their creative expertise.
It is our hope that after reading this blog you will be more informed about the cost of a corporate video. Should you have any questions, don’t hesitate to get in touch.
Thanks for reading!