Video Pricing Secrets Revealed: Taking the mystery out of video production

The cost to produce a 30-second video or TV spot can range from a few thousand to literally hundreds of thousands of dollars.  But let’s assume for a moment that you’re not Ford or P & G or Coca-Cola, and you’re not producing a television ad for the Superbowl.

What does it cost to produce a video for a small business, non-profit organization or one-person solopreneur?  Well, first of all, there’s no such thing as “typical,” because there are so many determining factors and variables that go into creating a custom video.  However, there are some ways to “guestimate” costs to determine if you can afford the investment.

True, it’s no small task to have a professional videographer and editor shoot and edit your video.  The logistics, equipment, time and manpower can all get very expensive, very quickly.  When I was on the “client” end of things working at a non-profit, I remember paying upwards of $15,000 for a 3-minute video!  Fortunately, my video company (and a few others) can usually produce a television network-quality video for less than half that amount.  (Sometimes, much less!)  

If we are going to a location or a studio to shoot a video, clients should estimate about $750 per “shooting” day.  This includes a professional videographer and experienced producer, as well as lighting and equipment.  (We use professional video cameras that cost about $14,000!)

Once your footage is shot, we go into “post-production” to edit the video and add music, transitions, graphics, effects and professional voice over, if needed.  We usually have at least an hour’s worth of footage for every one minute of finished video - so we typically have 3 to 5 hours of material just to produce a 3-minute final piece.  This is the most time-consuming and complex stage of the project.  It can often take hours (or even days) to perfect just one minute of video.  We then show a “rough cut” to the client so they can have input for revisions or adjustments.  Finally, we do another edit to produce the final cut.  

Again, it’s tricky to estimate the cost for a video without knowing the specific needs and goals for the project.  However, as a very rough approximation, some producers suggest that you budget at least $1,000 per minute of finished video.  

Another option for creating your own video is the new trend of “mix and match” production using stock footage.  We use online services such as RevoStock.com to build custom spots using “off the shelf” footage and video clips.  This is a very economical way to create a video without having to shoot any custom footage, so it can save thousands of dollars.  Obviously, this only works if you don’t need a specific person or location to appear in your video.  

We have found that we can find many other innovative ways to cut costs and work within even the most modest budgets.  By working smarter and more efficiently, we can give clients a “champagne” spot on a beer budget!  So, when you’re ready to add the power of video to your marketing arsenal, you don’t have to spend a fortune.  Do your homework, shoot smart and save a bundle!