Video production consists of two segments:
1. Filming Raw Video
2. Video Packaging.
Each is separate of the other and each is billed separate. Packaging is always an optional service.
LENGTH OF PACKAGED VIDEO
Obviously, the longer the video, the more it costs.
Most companies overestimate the amount of time needed to communicate their message.
Even the most complex business can be summarized in two to three minutes. Any longer and you will likely lose your audience. That said, in the commercial and industrial market sometimes a 4-5 minute or longer video is required to show an entire process.
HOW TO FIGURE PACKAGE VIDEO PRODUCTION COSTS
Pricing packaged video production can be tricky. Likely the answer is, it depends.
Many clients ask, "Least give a ballpark figure.” This paper should answer many of a clients questions about video packaging costs. If not, call Mark and ask him.
Mark is always happy to prepare a written estimate for video production. However, without details the same is seldom accurate.
Price is always preferred agreed to in advance, so the client knows all costs before production begins. The price is supplied based upon the details at time of the estimate.
On any video project, a detailed script or storyboard is vitally important for determining final costs.
Mark’s experience is the less details provided during pre-planning the more likely the budget will be exceeded after production filming. By much as 50% to 100% above the original quote.
In any situation where a project takes longer than anticipated and the price has changed during the process. In all of those cases, the client added shots, or other components, during video production filming. This results in the client receiving a higher invoice than expected. The same can be completely avoided and results mainly due to the lack of pre-planning a script or storyboard or from the lack of communicating project details beforehand.
The final price for packaged video production is based on the number of sessions, number of video clips created, amount of time spent filming, environment of filming location, turnaround time for raw video, days to edit and video length, deadline for the project, etc.
The final budget for a packaged video always depends on what exactly you want to see on the screen during those minutes. A helicopter fly-over is impressive, but obviously costs more than creating video from across the street. A custom intro or animation of a logo costs more than simply importing a file or using an existing intro. You get the idea.
The most frequent question Mark gets is how much does a 3-minute video cost, or a 2-minute video, or a 60-second video?
Regardless of the video length, the answer is always, it depends, and here’s why.
For example: a finished video might be 3-minutes, but each 3-minute video can vary greatly in how long it takes to produce. Mark has had a 3-minute video take 1 day for $3,000. He’s had a 3 minute video take 3 days at $8,000, and he's had a 3-minute video take nearly 2-weeks at over $30,000. The final costs depends on how organized the script or storyboard is, what has to be shot, how long it takes to shoot it, what, if any, stock footage may be purchased, whether professional voice over talent is needed, and how much time is needed in post-production.
Just remember the more details about project communicated prior to production filming is the only way to have an accurate idea of costs. Consulting is always free!