No average price exists for promo video creation because there are far too many factors to consider. You could have a short, low-element one for $39 or a very high-quality and intricate one for $50,000. Where does such a wide range of costs come from?
Even more important than that question, however, is determining if your business can afford not to pay for a promo video at all? Any statistic you can find shows that video converts much better than graphic ads. If you invest $1000, you get 100 leads with a well-design graphic and 200 with a well-made promotional video.
Understanding the importance of video is one thing. Determining how much one costs is another. To do so, your production team will take the following things into account:
- Video quality
- How long the video runs
- Equipment needed
- Actors, spokespeople, models
- Editing requirements and difficulty
- Licensing and acquisition for clips, templates, music, etc.
Simply having a video does not provide benefits. For some small brands, that $39 option may work in a limited way. However, a poor-quality, unprofessional promo may do more harm than good. You can save money on how-to, explainer, testimonial and similar less-essential videos and still reap brand recognition and reputation benefits. Learn more about it at Promo.com.
Most Important Factors for Promo Video Cost
The length of your video matters, but not because a larger file equals a higher price. The increase includes additional development of the overall concept, writing the script, multiple location shoots, extra time, and additional editing requirements.
Hiring a production company both costs more than creating videos in-house and provides professional benefits. Your employees may have no idea how to plan, film, and edit a high-quality video. You will not have equipment like pro lighting, camera drones, and editing software on hand. Promo video teams charge either a daily rate or per task such as conceptualization, pre-production, video shoots, and editing services.
Acquiring or hiring resources including actors or models makes up a lot of the production cost of promo videos. Hiring a celebrity costs a lot more than a local spokesperson with a good voice and an hourly rate between $50 and $200. Using yourself or an employee costs even less.
Other resources include stock video clips, music, sound effects, images, fonts for text elements, and other things like that. In most cases, the production company you choose will have access to a vast library of these types of things.
The creation cost of a promo video for your company or organization varies widely based on a multitude of factors. Most start with a goal and vision about what you want to share with your target audience. In order to stay within budget and still get an excellent video ad, work with an experienced production team closely. Besides the specific tasks and assets that go into creating the video, you are paying for their expertise.