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So how much does a video cost to make? Well, it depends.
That’s probably not the answer you were looking for. But really, costs vary greatly and it ultimately depends on the goal of the video. For example, you could use $10,000 camera package for a project, and at the same time you could have accomplished the goal with an iPhone. The most expensive tool isn’t always the best tool. At the same time, certain jobs require the best tools. What is the goal of video, and how will it help to grow your business? Knowing how big of a problem you are trying to solve will help you set a budget.
Today, we will dive deep into Grand Rapids video production costs. What are the average budget ranges and what influences the cost of video production? Additionally, we will give you some examples of actual costs for certain types of videos.
Average Grand Rapids Video Production Costs
Most businesses should expect to invest between $5,000 and $30,000 for video production. Expect the range to rise if the project includes a large marketing campaign, requires significant travel, or is more commercial oriented. In general, the cost of a video correlates with the size of your business and the goal of the video.
Social media and online marketing have made video marketing necessary for nearly every business. Fortunately, video production is now affordable for most businesses. Businesses are often spending less on each video, but using video more frequently in their marketing strategy.
7 Factors That Influence Video Production Costs
Just like any business, costs will scale with the amount of people, time, and equipment required to produce a product. Here are the biggest factors that influence Grand Rapids video production costs
How much work needs to be done before the shoot? Location scouting, writing the script, finding actors, creative concepting, storyboarding, and strategy all fall into pre-production. A successful video spends significant time in pre-production, planning everything out to ensure the success of the video.
Between two and five people is usually enough for most corporate video productions. If you are using more specialized equipment and against a tight deadline, you’ll require more people on crew. Gaffers, cinematographers, sound mixers and crew outside production companies operate on a day rate. Average crew day rates in Grand Rapids usually range from $300 – $1000 per day depending on experience.
The number of production days will be one of the biggest cost factors. If the production requires multiple days, there is usually economy in a per day cost. Most corporate video production jobs will take one or two days. Commercial productions can take one to five days depending on the video.
A great way to save costs is to use your company’s location. Most video production companies will be able to work around your schedule. If the production requires a specific look or location, you’ll want to budget for a location rental.
Most video production companies have a standard camera package that will suffice for most projects. High end projects often use a specialized camera package that will add additional cost. If the production requires extensive lighting setup, an additional lighting and grip package will need to be rented out. Fortunately, the cost of cameras has come down significantly in the past few years, so high end image quality is available to most businesses.
Post-production is where the video comes together, and the story is crafted. Video editing, sound mixing, color correction, motion graphics, and special effects all fall under this category. Grand Rapids video production companies usually charge between $100 – $200/hour for post-production.
Some Grand Rapids video production companies function additionally as a marketing agency. They’ll design a marketing strategy to best utilize the video, and integrate it into a full campaign. If your company has an in-house marketing team, they can hand off files for you to use.
Average Costs of Videos by Type
Video production companies price videos based on the needs and type of project. However, certain types of videos usually fall into the below ranges.
Usually involves a one day shoot at a customer or client location. Editing to create an organic and authentic story. Expect testimonial video(s) to be in the range of $2,000 – $10,000.
Social Media Videos
Social media videos often can be produced on a lower budget. Depending on style, setup, etc, – multiple videos can be produced in one day. Ranges for Social Media videos typically range from $2,500 – $10,000.
Explainer videos using motion graphics and illustrations usually range between $10,000 – $25,000. Unlike other videos types, length has a direct correlation with the cost to produce.
A series of videos, such as a recruitment campaign or software demo series, can range from $10,000 – $30,000. Video series are usually filmed over multiple days, and involve a decent amount of pre-production.
Company overview videos usually involve one day of production at your location. The video gives a quick overview of your capabilities using interviews, b-roll footage and voice over. Expect company overview videos to cost between $5,000 – $15,000.
Brand stories involve extensive scripting and storyboarding. Locations are scouted, and there is often travel for the production. Brand stories are generally companies largest video project. Expect a larger crew, with actors and actresses being used. Brand stories can range anywhere from $20,000 – $50,000+.
Is The Cost Worth It?
Video production can be a sticker shocker if your business is just getting started in video. But consider how much value video will bring to your business.
Most videos have a very long shelf life. For example, a $25,000 product video will be effective over the life of the product. If you sell the product for five years, think of the video as a $5,000 investment per year. Video works 24/7 for your business, and if you compare that to other marketing investments, video will prove to be your biggest return on investment nearly every time.
When setting your budget for video production, consider what the video is trying to accomplish. How big of a problem is this trying to solve? How many new customers or sales are you hoping to gain? How long can this video be used? Talking through this will help you get an idea on how much to budget for your video production.
Hiring A Grand Rapids Video Production Company
Grand Rapids is home to many video production companies. When hiring a company, ask them about their process. How do you design an effective video? Can you optimize my videos for all my social media? How do you measure success?
Capture Video + Marketing is a Grand Rapids video production agency that specializes in video marketing. We know what it takes to produce effective marketing content and we believe the best approach is often a precise balance between quality and price.
If you have any questions about video production costs, or would like to know about how we can help grow your business, please explore the rest of our website. Also, you can call us at 616-930-2222, or email us at firstname.lastname@example.org.
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