Your competitors are doing it. Every blog post you read, YouTube video you watch, or business consultants you consult seem to agree on one thing: Video is the future. Deep down, you know that you need to join the bandwagon or you won’t be able to keep up with competition.
Like many other people who have been in your shoes before, the age old question persists. How much to make a corporate video?
Being your very first time toying with the idea of making a corporate video, such a question is not farfetched. Is it? You have a budget in mind, you have a rough idea of the kind of corporate video you want made, but what you can’t seem to wrap your finger around is the cost of corporate video production.
Well, the cost of a corporate video is not cast in stone. It ranges anywhere from $900 to $30,000 and beyond. Of course, this is informed by a number of factors such as the type of video, your budget, length of video, to mention a few.
Different video production Singapore companies also charge hourly rate that could be anything between $45-250 per hour.
I’m sure that this is not the kind of answer you envisaged when you set out to find everything there is about the cost of corporate video production. Hear me out for a moment. I know where you are coming from and my job is to furnish you with credible information on things that affect the cost of corporate video production.
It is my belief that once you’ve had time to go through this post, you will be in a better position to:
- Understand the different types of corporate video production costs
- Stages of video production
- How to keep your corporate production video costs down
- Factors that affect the cost of a corporate video production
Sounds like a plan, right? Well, let’s get right into it.
The video you just enjoyed watching – be it on social media or YouTube went through a number of stages. Video production is a serious business that if done right, can push your return on investments through the roof.
This reason alone is enough for you to ditch that smartphone and your haphazard efforts to create a decent looking video and engage the services of professional corporate video production experts. Video production undergoes the following 3 stages:
- Pre-production – Basically entails everything that happens before the actual filming of the video such as script writing, hiring of models, presenters, actors, etc.)
- Production – actual filming
- Post-production – produced film is professionally edited and distributed
Types of video production costs
Different types of videos attract different costs. Simply put, there is no uniform price for all types of videos. Why is this the case? The complexity, length, type of equipment needed, and time it takes to produce a video, to mention a few all affect the cost of a corporate video production.
For instance, the cost of creating say a simple training video is relatively cheaper compared to a full-fledged commercial video.
With that said, a low budget corporate video can cost anywhere in the range of $500 – $5000. Of course, this price is not fixed/universal and can be affected by technology used in video production, number of filming locations, length of video, to mention a few.
Broadcast commercials, on the other hand, attract a fee in the range of $7000 – $10000 per finished minute approximately.
High budget corporate videos can cost between $5000 and $15000 on the lower side but can go beyond the $100000 mark depending on a number of things such as video length, special effects, state of the art equipment used, number of filming locations, among others.
The costs aforementioned are just to give you a rough estimate of the amount of money you are expected to fork out when going for corporate video production.
This is not to say that the costs are cast in stone. Depending on the type of video and your needs, the cost could be lower or higher than what’s mentioned above.
A Company will always sit down with you, understand the scope of the video you need created, the time it will take, and give you a proper cost estimate.
Factors that affect the cost of corporate video production
Now that we’ve shed light on the typical costs, you must be itching to know in detail the various factors that affect the cost of video production. What makes certain videos affordable to produce and others extremely expensive? What informs the cost?
Period it takes to make the video
Here, the moniker “time is money” rings true. How long will it take to create the video you are asking for? The longer the time taken, the higher the costs. The shorter the time taken, the lower the price.
In fact, every corporate video production company worth its salt always bases off their price on the period it takes to make your video. While you might be having a pre-determined budget, there is no way around it. What you will be doing is paying for the time. No hidden costs, no monkey business, no secret formula.
You will agree with me that there will be a huge price difference between a corporate video that will be shot in one location after doing a couple of interviews and one that requires a creative shoot spanning multiple locations.
A simple training video will attract a relatively lower cost compared to a full blown commercial video that requires a number of presenters, actors, models, state of the art equipment, larger crews, different hour scheduling, to mention a few. The question: “what is the scope?” therefore becomes an important cost determinant in corporate video production.
Length of the video
Admittedly, implied costs (equipment, crew, models, etc.) are somewhat universal for every shoot irrespective of whether the video in question is a 20 seconds social media clip or a 5 minutes corporate video. However, beyond that, the whole filming and editing process can push the cost through the roof.
Don’t be surprised why your 20 seconds video has taken longer than you expected.
The 10 or so filming locations you insisted on being fit into your 20 seconds clip could inadvertently take longer editing than you initially thought.
Clarity and specificity of the brief
How clear and straightforward is your brief? Are you clear on what you want for your corporate video? Do you have the whole process figured out in your mind from start to finish? If the answer is in the affirmative, this could go a long way towards keeping the corporate video production costs down.
Your brief should be detailed and specific. It is not uncommon – and this can be quite frustrating, for a client to decide that they want something which was not agreed upon during pre-production/production to be included after editing has been done.
Of course, such things tend to push the cost of video production through the roof. To avoid this and keep the costs low, be specific and clear with your brief.
Miscellaneous costs that add up
A quote from your video production Singapore Company is not always cast in stone depending on what you exactly want in your corporate video.
Ordinary costs associated with equipment, filming locations, actors for hire, and models aside, there are other costs which add up based on what you need or want in your corporate video.
For instance, if you want your video to be translated in several languages or subtitles to be added, this will cost you more. Other costs related to travel, music licensing, and voice over recording will surely stretch the cost of corporate video production further.
Bottom line: how much to make a corporate video?
To answer the question “how much to make a corporate video”, it is dependent on a number of factors that we’ve explain in detail above. These factors include length of the video, time it takes to create the video, scope, clarity of the brief, as well as miscellaneous expenses which add up in the course of creating your perfect corporate video.
At Video production Singapore, we understand that getting an edge over your competitors is key to the success of your business. We also understand that scaling your business to greater heights is dependent on the quality of videos that not only shed your company in good light but also market your products and services to your potential customers.
Contact us today and let us be your partners in taking your business to the next level. Our expertise, adherence to total quality management principles, proven players in the corporate video production space, and a commitment to seeing our customers succeed is what sets us apart from other video production companies.
Contact us today and let us help you reach your business objectives with a professionally done corporate video.