The world of marketing has changed within the last decade. Digital media has taken over as the outlet where we get all of our information. Therefore, marketing efforts must be tailored to this transition of audience.
One medium that is a sure fire way to get the attention of your audience is video. Company videos are useful for internal, as well as, external purposes.
Find out all you need to know in the world of video production so you can strategize amazing content for your audience and your team.
The Scope of Video Production
Video production is, simply put, the process of producing video content digitally rather than on film, which is filmmaking. However, there is nothing “simple” about the process.
There are three phases of video production. Pre-production, the production, and post-production.
What is Pre-Production and Post-Production?
When it comes to pre-production and post-production, these are the most complex parts of the video production process. In production, you are filming and gathering up all of the content that will initially be your video. However, the production would not happen without pre-production logistics planning and script writing. Also, without post-production content editing, all of your content is useless.
The pre-production process involves script writing, scheduling, logistics, and other administrative tasks that must be finished prior to production.
Once you arrive at post-production, you selectively cut and piece together each clip that was captured during the production stage of the video production process. In post-production, you develop the finished product that successfully communicates the desired message.
How Much Will the Creation of Video Production Cost?
The cost of full video production ranges; it is all dependent on what your budget allows.
In all reality, you could just grab an iPhone, shoot some scenes you have written, and then edit the clips on your Macbook. On the other hand, you could contract a successful director, hire a couple of A-list actors and shoot on location somewhere in New York City. However much your budget allows is how expensive or inexpensive your video production process will be.
BUT, the good news is that there are affordable options. In between the two extremes of video production, a business can enlist a range of video production options to achieve the marketing video goals.
Many elements go into the overall price of your video production efforts but there are many important factors that affect the price of a web video.
Corporate Video Production Expertise
When it comes to paying for any service, you most certainly get what you pay for. When you are enlisting the expertise of someone, you want to make sure that you are getting the best your budget allows and as close to what you want your vision of the video to be. There are a lot of components that go into video production, but when it comes down to the expertise of the producers you hire, you want to get the best possible to achieve your goal.
Typically, most production companies charge anywhere from $75 per hour to $150 per hour for the key people that are needed for pre, production, and post. You could also hire a recent film school graduate for $25 an hour or a freelance professional that has been in the biz for decades for upwards of $250 an hour. The options are wide for your choices in expertise.
You will need a script that is based on your business purpose and objective of the video that is being produced. You want quality content that you are using to create this piece of marketing. Therefore, hiring an experienced marketer to develop a concept and a storyboard for your video will cost around $60 and $150.
The editing room is where all of the content that was created in the production processed is pieced together to fit your storyline. Typical editing costs run between $60 per hour and $175 per hour. If you are using complex 3D graphics or keyframe animation, that can cost between $100 and $300 per hour.
When you are creating a corporate video you need someone to represent your company. Having an employee in front of the camera is not always the best option. This is when you need to figure out what price range of actor or presenter you need. Actors, presenters, and models can cost anywhere between $50 per hour to $500 per hour, or more. Specific union costs and other extra price tags that come with using actors can make this expense one of the highest in your production.
The quality of your video will depend on the camera that you use. There are DV cameras that you can purchase for $500 and ARRI cams you can purchase that cost $60,000. It all depends on what you want the finished product to look like and how far from perfect you can stray. Depending on which type of camera you use, you can expect to spend between $25 per hour and $400 per hour all dependent on which digital camera package you choose from the production company.
Your equipment needs are what will dictate the cost of your equipment investment. Do you need a track dolly for closing in shots or a jib arm to create a still shot? Do you need a field monitor so you can see exactly what is and what is not in the shot? All and more of these things will determine what kind of production value your video has and how much money you are going to spend on equipment. So, depending on what is required, you are looking to spend anywhere from $25 to $100 per hour on production equipment.
You may require supplemental footage that is used to support your video. This is called stock footage that you can purchase and add into your video. Some videos are compiled only of stock footage and voice overs.
For any type of company video, you won’t be needing the typical crew size that comes with a tv show or film. Typically, one to three people is ideal, depending on the scale of your production. Concept videos, like commercials, require more individuals on set and possibly a field production engineer. One of these professionals, with their own equipment, will cost anywhere between $50 and $75 per hour. However, man-on-street interviews only require the cameraman, the interviewer, sound man, and director. You can expect to pay $25 to $75 an hour per technician for your production crew.
After taking all of this into perspective, the requirements for your video production are going to be determined by the quality you are seeking and your budget at hand.