*Did you know that viewers retain 95% of a message when they watch it in a video compared to 10% when reading it in text…
How Much Is A Video?
Whether you’re an executive for a large corporation or the managing director of a small business, video production is something that the majority of businesses today will eventually encounter, whether it’s for marketing, internal communications, or events purposes.
Today’s post will take you through exactly what you need to consider pre-, during, and post-production. As a team with over 35 years of experience in the industry, we’ll let you in on all the dos and don’ts when it comes to planning your project, choosing a production team and thinking about video production prices.
Before starting your video production project, there are a few things you should try to establish. As a video production company ourselves, we find that the process goes smoothest when our prospective clients have the answers to these three questions figured out before coming to us…
What is the video’s purpose?
What is the delivery platform?
How are you measuring its success?
Video producers are creatives. They’re not going to expect you to know entirely where you’d like your project to go and how you’d like it made. However, if you come to us with an understanding of your end goals, we can guide you through the best methods to convey your message and the best ways to drive traffic to it.
Another important thing to consider is your budget. If you’re coming to a creative team looking for some content, but you don’t have any idea how much you’d like to spend or how much you’re allowed out of the budget, it makes the process very difficult, to begin with.
Many people have an instinct to keep their budget secret, or not reveal exactly how much they’d like to spend. This is because people sometimes see video producers as a kind of salespeople. You never want to tell salespeople how much your maximum budget is because you’re scared they’ll try and take as much money as they can…
Now, we can’t speak for other companies, but at Five on a Bike, this is a misconception which we try our very best to overcome, from the outset. Yes, we are a kind of salespeople. We have a service to sell and we do make money from it. However, your budget is possibly the biggest variable that can change how much time, equipment and technology is able to go into the project.
So, it’s very important that we know what we’re working with from the outset. You can spend £2,000 on a project or £50,000 on a project and they’ll both produce very different outcomes.
The video production market is quite densely populated. You are, most likely, not going to struggle to find one who is more than willing to complete your project. However, when this is the case, it pays to be selective.
(Now, we know we could use this opportunity to pitch our own company as the best video production team around, but that’s not the purpose of this article. So, we’re basing this piece of advice on the feedback we’ve received from disgruntled clients who have used other companies prior to coming to us.)
First things first, almost all video production companies will have a showreel. However, we don’t recommend basing your decision off of this. A showreel is, generally, a bunch of random pieces of footage edited together to music. Now, this may reveal from a technical perspective how well a team can capture beautiful shots, or their editing skills, but a showreel will never reflect what the company is like to work with.
Look at the company’s portfolio and ask yourself, has this team worked with a company of our size and type before? At Five on a Bike, we find a lot of our large corporate clients come to us after a bad experience with another production company where, the team wasn’t experienced enough in corporate clients and the content suffered because of this.
If you’re a corporate business, choose a corporate video production company. Unfortunately, a lot of small video production companies are made up of two or three people who are, really, trying to be big film directors and only making corporate videos to make more money. The issue here, is that you’re working with a team of (probably) highly skilled creatives, who can take beautiful, unusual shots, but it doesn’t work in a corporate atmosphere.
When you’re filming an interview with your CEO, you don’t really want Steven Spielberg in the room.
You may be coming into your video production project with some expectations of what’s going to happen… We’re going to discuss a few that we’ve experienced with our clients.
Firstly, please don’t expect to get a very very high-quality product at a very very low cost. As we covered a bit before, the more budget we have to play with, the more time, crew, and technology we can give to your project. Whilst we always promise to make the most of your budget, and give you as much as we can to make your content beautiful, it’s difficult for a team to work with an unrealistic balance of really high expectations with a really low budget.
It is also worth noting that a lot of video production companies may change their pricing based on the size of the company they’re working with. This sounds unreasonable, but there are some very understandable reasons for this. When a video production company works with a small-medium sized company, there are much fewer people who are involved in the planning and signing-off of the project. However, when working with a large corporation, there is (usually) a much greater number of people to go through before the project can be properly planned, properly reviewed, and properly signed-off by the whole company. This generally poses more of a challenge to the production company and takes a lot more of our time. Therefore, in many cases, if you are a big brand, you may expect to pay more.
Video production prices are difficult to address with certainty. It is important to understand from the outset that every project is unique. At Five on a Bike, we are always honest and upfront about the cost of every element of the production process, however, because each different project will require a different combination of crew, equipment, editing, etc., it wouldn’t be truthful or fair to give a promising quote on our website without having a bit of a chat about your needs beforehand.
With that being said, in this section, we have written up a few realistic scenarios, under Marketing, Internal Communications and Motion Graphics, with some video production pricing to give you a bit of an idea…
Scenario 1: Marketing
A client is looking for a video tour of their site. They are a chain of care homes, local to London. The tour will appear on their website to advertise their location to prospective residents. We’ll produce a master video around 2 minutes long, and make a couple of short social stings out of the footage to promote it further.
Pre-production: An initial phone call or meeting and some storyboarding. Our director would chat with the manager and brainstorm the production plan. £500
Shoot: Two crew members. Director and camera operator. One full day on site. Around £1100.
Editing: Two days. Around £1100.
Scenario 2: Internal Communications
The CEO and senior management team of a corporation need to do an announcement video about a new sector that you’re entering. They are (by some miracle!) available on the same day and the client is looking for a crew to come in and film them.
Pre-production: Nothing really, unless they’re looking for the announcement to be scripted, but we generally advise against this.
Shoot: Two or three crew members. Director, producer and camera operator. One full day on site. Around £1100.
Editing: 1.5 days of editing the 3-minute highlight video. 1.5 days editing the rest of the interview clips to 2.5 minutes each. So, 3 days of editing at around £550 per day. Around £1650.
Scenario 3: Motion Graphics Animation
Generally, it takes around a day’s work to create 15 seconds of animated content. So, a 1-minute long, high-quality piece of motion graphics content would take 4 days. With half a day planning at the beginning and half a day reviewing at the end, that’s 5 days work.
5 days at £550 per day: around £2750.