The Cost of Video Production 101

How much does video production cost and what determines the price?

 

Is your business ready for professional video? According to Forbes, 90% of costumers report that product videos help them make purchasing decisions. Considering this and that 59% of interviewed executives would rather watch a video than read a text, the decision to invest in video marketing is the right one.

Creating videos is a long and demanding process requiring a team of professionals. So, don’t expect it to be cheap. Moreover, videos that are done unprofessionally will damage your brand image and it’s not worth the risk. That’s why you need to make sure that a video production company delivers the desired results, and brings the quality you expect. You need to pay attention if they provide you with all the information, clients’ testimonials, and a representative portfolio. A representative portfolio is a portfolio with a wide range of different video styles.

There is another question that comes to mind. How much video production costs and how to know whether or not you are getting what you are paying for? Let’s have a look at what determines the price in the first place.

What are the main factors that determine video production costs?

Professional video production companies take their job seriously, and the process involves managing different tasks on many levels. Here at Business Motion, we start by learning about the target audience, and what is the main purpose of the video. Then, we suggest the best style to use to achieve the desired goal and we then collect all the necessary information and material that will help us reach the video’s goal. However, there are many key factors that determine video production costs, among them are:

  • Team – It’s crucial that behind the video production project is a team of professionals that will provide high-quality content. Therefore, an experienced and talented team will charge more. Furthermore, if we are talking about live action or more demanding videos, that will require more people involved, and that comes with a price.
  • Equipment – Tools are an important part of creating high-quality content. You can create a video with your cell phone, that’s no secret, but video production companies possess all necessary expensive tools to make sure your video looks perfect.
  • Time – Cost can depend on your video’s runtime. Obviously, more minutes lead to a higher price. Secondly, time spent preparing scripts, creating a story, and characters can be time-consuming, and that is another factor that determines the price.
  • Style – The style you choose for your video presentation also affects the cost of production. As you can tell, live action videos can be more expensive than animated videos. You have more people involved, it’s time-consuming, sometimes requires finding and driving to a certain location, and you can edit it only after the footage is recorded. That means that it will be harder to add scenes later on if it wasn’t filmed originally. So if you are looking for a cheaper option, you should pick animated videos, or perhaps consider making a mix of animation and live action.

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How can you benefit from hiring a video production company?

You can benefit from hiring a video production company on many levels. First of all, you would be hiring experienced professionals who will create high-quality video. Secondly, you would be delegating the job to a team of experts, meaning that you don’t have to worry about organizing and managing anything. High-quality videos generate more traffic, increasing the likelihood of greater ROI, and improving your brand’s image. Hiring a video production company may be a more expensive option, but the value you will gain will be exponentially greater.

Hiring a video production company is also beneficial in that you get great insight into what kind of video you’re looking for, and which kinds may be harmful to your brand. For example, if you are doing a video for an F&B company, you must film the kitchen for cleanliness, show the friendly faces of employees to gain the trust of your target audience. Crucial elements must be included in the video and harmful ones must be excluded, and a video production company will pinpoint what stays and what has to go, in order for the video to make an impact.

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What to expect for the budget?

First of all, you must ask yourself what you want to accomplish and which style you are going to use. The production company has a big role in advising you on a style that should be used. The production company needs to suggest a style that goes along with your preference and the best way to convey the message.

If you have a personal blog, then amateur or semi-professional video will do just fine. Semi-professional video makers are usually freelancers who own more sophisticated equipment, but the quality can vary, and you can’t be certain that you are going to be happy with the results.

Small businesses and corporations, however, need something more professional. Video production companies will use cutting edge equipment and will create a final product that will help you stand out and create the buzz you need.

The prices can vary depending on your requirements and companies’ policies. Professional live action 1-minute video can cost from $5.000 to $10.000 although this price can be much higher depending on your demands. Also, a one-minute animated video ranges from $3.000 to $10.000. Wyzowl interviewed 70 different animated explainer video companies in 2018, asking how much they would charge a one-minute animated video. The average price was $7,972 ranging from $700 to $72.000.

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Conclusion

Many professional companies do not have a standard pricing table as the price depends on many factors like the ones we have seen above. The video production companies would rather consult with their clients and, based on the clients’ needs, form the price. But before you seal the deal, you need to know what the price covers. Does the video include voice over, music rights, research, written text, etc? Make sure that they have covered everything you need and that there aren’t any hidden costs.

Do you need professional video production for your company? Contact us today so we can discuss it in more details!

 

A Video Production Company vs. The Right Video Production Company

You probably already know that video content has become one of the fastest growing tools for promoting your business. That’s not surprising considering that over 5 billion videos are being watched on YouTube every day! Now, choosing the right video production company can be a demanding task. After all, the videos should reflect your brand. They might be someone’s first impression of your product or service, and most likely, the first step towards conversion. Therefore, you cannot leave this task to just anybody.

Whether you are a business owner or a marketing manager, you will have to find a company that will deliver exactly what you want. You need to ask yourself the following questions:

  • Which video production company is eligible for producing your video?
  • How can you tell the difference between a company that will bring value and one that will not?

Here are some tips and steps you need to take if you want to make sure you will choose which video production company to hire.

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Go through the company’s portfolio

Checking out portfolio should be the first place to look. A portfolio page will give you an insight into the company’s work and do they meet the standards you require. Do they offer fresh and unique content? Does it look professional? How diverse are their videos? Do they have experience with making corporate videos, advertising videos, etc.? Do they work with animation or live-action or both? It’s good to know that the company you choose will provide exactly what you want.

Look for reviews

Before hiring a company, find out more about other peoples’ experiences. Is their Google rating positive, if they have any reviews? Having a look at their testimonials can also be helpful. Satisfied clients are a good sign that you have found a company that will produce a good quality video.

Do they take the time to understand your business goals?

After you made the first contact, see how interested they are in your project. Are they focused on getting more details, do they give any suggestions? Are they making an effort to find out what your target audience is?

If they just send you their offer solely based on information that you have provided, without trying to better understand your goals, then perhaps you should consider hiring another company. A good company will try to learn more about your brand and come up with a solution if you are not certain about all the details. The video production company you hire must understand how to deliver your message to the viewer and how to sell your product or service.

Did they provide you with all the information?

Before you hire a video production company make sure they provided you with the information that clearly shows what are you getting for the price. They should give you a timeline, and how long the shooting will take. Are they filming in SD or HD? Will you have a voice over video, will they have professional actors involved?

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NOW THAT YOU KNOW WHICH COMPANY TO CHOOSE, MORE QUESTIONS COME INTO MIND:

 

What is the best duration for my video? 

The company you want to hire needs to know how to make the videos that convert. In one of our latest articles, we have mentioned that the best converting rate is for videos of up to 2 minutes long. After that, the conversion rate drops.

What style should I use? 

Do you think that animation will represent your brand better, or a live-action video? The style you are going to use should be the one that will reflect your brand and your target audience. People will recognize you as a brand more quickly if you are consistent with your style. Therefore, your videos should be in the same tone as your website and colors of your brand.

On the other hand, animation is a good choice for explainer videos, as they are easier to comprehend, while live-action videos are based around people and they are good for gaining the viewer’s trust by showcasing your team members or satisfied customers.

Where to place the video?

Should it be on Facebook, Instagram, or your landing page? According to Renderforest, videos embedded into emails lead to 200-300% increased click-through rates, while adding videos to your landing page can increase conversions by 80%. You should start with one location for which you are certain that your audience will discover the video. You can put it on the key place on your website, such as a landing page, you can pin a video on Facebook, or you can even run an advertisement and an email campaign.

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Conclusion

As long as you have some idea of how the video should look, a good video production company should be able to help you achieve what you want. Here in Business Motion, we always listen carefully to what our customers need and we strive to deliver professional service so that all our customers are satisfied. Feel free to contact us regarding your video marketing strategy, and we will be happy to help! You are also very welcome to leave a comment below.

High Converting Video Essentials

High converting video essentials

 

Do you need professional videos that convert, but you are not sure where to start? Videos are becoming one of the most used mediums among marketers. According to Wyzowl, in 2017, 63% of marketers reported that they were using videos to promote their business, and in the past 12 months the figure has reached 87%. Videos cannot be only engaging and amusing, but can greatly impact your ROI. However, in order to obtain the desired results, you need to create videos that will make viewers take action and buy your product or service. For that, you need to have a strategic plan and a goal. You need to predict the next step that the viewer will take after watching the video and make sure you have their full attention.

In this article, we are going to go over the elements that high converting videos should have, and why it is important to choose the right video production company to do this job for you.

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How to create high converting videos

Keep the videos short – It’s already known that people cannot keep the focus for a long time and we are so easy to distract. That is why you need to keep your videos concise. Remember, less is more. Research shows that videos with an up to 1-minute length have a play-rate of 70%, which is huge! Two minutes is maximum optimal length and after that, click-rates are dropping.

Implement call to action – Call to action (CTA) is what converts the viewer. Whether you want to interest your audience in buying your new product, subscribe to your email list or check out your other videos, a call to action should be included. You can put a call to action at the beginning, in the middle or at the end of the video. Each position has its strengths and weaknesses. In most cases, marketers are putting a call to action at the end of the video, to make sure that the viewers are really interested before introducing a CTA. The fewer people will see the CTA, but at least you will be sure that they are the most engaged ones. However, the CTA presented in the middle of the video offers the highest conversion rate. At this point, you have the viewer’s attention that still hasn’t started to fade. If you are launching a new product, for example, you can give the opportunity to the viewer to pause the video and check it out without making them wait until the end. The best way to do this is to put the link somewhere in the video and point out where to click.

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Ensure the videos are mobile-friendly – In February 2019, recorded mobile internet usage was 47.96% of all web views worldwide, and the trend seems to be continuing in a positive direction for the years to come. It’s predicted that by 2022, mobile traffic will increase by 10%. People are spending more time on their mobile phones. The last thing you want is to lose a chance for conversion because your video wasn’t optimized. Embedded YouTube videos are a good choice, as this platform works well on most of the mobile devices. Anyway, you should always test your videos on different devices and browsers, to make sure everything works fine.

Consider hiring professionals – It’s true, nowadays anyone can create videos, but the outcome is uncertain and can even harm your reputation. If you value your brand and want to stand out, investing in professional video production service is something you may consider as well. Hiring a video production company can be beneficial on many levels:

  • Exceptional video quality – Websites featuring high-quality video content have better conversion rates and look more professional
  • A good sense of story-telling – A video production company can assemble the footage in the most captivating way, which is crucial for retaining the viewer’s attention
  • Taking care of technical issues – All the technical issues will be taken care of; You don’t have to worry about getting the expensive equipment, fixing redundant background noise, com
  • position, lighting problems, etc.

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Choose a good thumbnail – After you have created a video, you should think about its appearance. A thumbnail gives the first impression of your video so you should choose it carefully. That is the first step towards obtaining conversions. Wistia has tested 3 different types of thumbnails showing a person, hands and a random frame picked by the system. They came to the conclusion that the custom made thumbnails had an increased click rate of 50%, compared to the automatically generated ones. Furthermore, best practices show that thumbnails featuring friendly people have the best click rates.

Conclusion

According to Google, over 50% of internet users were looking for videos of products or services before visiting their online store. Videos can help you gain the trust of the viewers, and the best way to approach them is to implement strategic planning and create engaging high-converting content. If you want the best for your business and to follow proven trends, you should definitely add video content marketing to your strategy. Contact us now for professional video production.