These days, brand videos are everywhere.
Over the past few years, video has quickly become the favorite marketing medium for brands, and even consumers. In fact, 44% of people say that watching a video is their most preferred way to learn about a new product or service.
If you're looking into creating a video for your brand, the first thing you're probably going to ask yourself is, “How much is it going to cost?”
So, let's break it down.
Related Article: 4 Ways to Lower the Cost of Making a Business Video
Costs of Creating a Killer Brand Video
Generally speaking, there are two major factors that affect cost when it comes to making a marketing video: talent and tools.
The talent, or expertise of the people involved, will determine how much your video will cost and also, the quality of the final product. If you go to a video production company then it's likely that you'll be met by lots of talented individuals who are passionate about video marketing. But, this amount of experience and drive comes at a price.
On the other hand, if you're looking to save money, there's no solid rule that states: you must use professionals! If you feel confident in front of the camera you could create a quick video blog and post that as your brand video. It's simple and cost-efficient.
I'm sure you've seen the amazing Dollar Shave Club explainer video. The CEO himself is the star of the video, and because of cost-cutting solutions like that (and the fact that the CEO had friends in the video production sector) the video ended up costing around $4,500, instead of $50,000.
There are so many 'tools' that have the ability to create videos; from smartphones to state-of-the-art, industry standard video cameras. Which tools you use depends on how much you are willing to spend.
You can get a slick, professional video created in just a couple of weeks from a production company. All you have to do is hand over a couple of thousand dollars and they do everything for you with their own tools – video cameras, editing software, professional voiceover recordings, perhaps even animation software.
However, not everyone has a couple of thousand dollars spare. So, it's great that there are tools at your disposal to assist you in creating your own brand video, for almost no cost at all.
As mentioned above, you can film yourself and market that as your brand video. But, if you're camera shy there are other ways. If you want to make a video about your website or app, you can simply make a video by recording the screens on one of your devices, and editing the footage with some free editing software.
Following on from the above point, lets delve deeper into the types of brand videos you can make in order to determine actual costs.
Types of Videos & Associated Costs
Okay, lets say you decide to make the video yourself. If you already have the technology you need then you won't have to invest any money into your brand video, only time. Perfect!
However, if you do decide to make a screen recorded video then you are going to need to record a voiceover to explain to the viewer what is happening on screen. To hire studio time in a professional recording studio costs on average between $60-$120 per hour.
If you decide to work with a professional video marketing company then you will have a much more polished video at the end of the process, but you will have to spend a lot more money. Passing all of the work over to the professionals will also save you a lot of time, so if this is something you're short of then getting a professional video might be the best option for you. Professional charges widely vary in price. But, on average they cost around $5000-$6000 per minute.
Benefits of Brand Videos
So, now you know how much brand videos cost it's time to find out what your company can gain from one. Brand videos can bring so many benefits, two of the more notable gains are an increase in SEO and the humanization of your brand.
Everyone wants to rank high in the search engines, and videos can help you do that. In fact, according to a Forrester study, pages with video are 53x more likely to rank on the first page of Google search results
Humanizes your Brand
It's a well-known fact that people prefer to do business with those that they know and trust. Brand videos are a great way to humanize your brand and build trust with your customers.
So, now you know how much it costs and what the gains are. The only thing left to do is get out there and get yourself a brand video!