Asking ‘how much does a brand video cost’ is akin to asking ‘how long is a piece of string?’ The answer is always it depends on what you want to achieve, which is why video production can be challenging to price and budget for. To give you a better idea as to what to expect, here is a brief breakdown of some of the decisions you will need to make when costing your next brand video.
Contributing factors to the cost of video production
Time
Some productions will call for additional pre-production preparation, such as location scouting, scripting and storyboarding, whereas others will require a more intensive production or post-production process. The time that is invested into these processes will result in a higher quality brand video, but more time often results in the need for more people, which will require additional investment.
Talent
If your content will feature people and you do not already have contributors willing to get involved, you might need to go through the casting process. A recognisable actor or a group of extras can significantly increase a video budget but as you might expect, experienced talent tends to cost more.
Travel
Does your project require on-location shooting? If so, do you own these locations or will you be shooting in a built up urban area and need to obtain permissions or even alert local authorities? Utilising a variety of locations can help you to communicate a more comprehensive narrative but these will need to be scouted and evaluated for their suitability before they can be signed off.
Production Value
The quality of brand films varies dramatically and striving for high production values can really help your video to stand out from the crowd for all the right reasons.
As technology has improved, more brands have access to high-spec cameras and lighting equipment, but this access doesn’t automatically equate to a high-quality brand film. The synergy of brand strategy and innovative creative ideas is what really sets apart excellent brand films from those that are just mediocre. Although on-boarding an experienced team comprised of lighting, DP and sound experts will require an increased budget, it is tapping into this collective expertise that will deliver the results and ROI that you really want to see from your brand film.
What are my investment level options?
When it comes to budgeting for your brand film, it is important to really understand your options, so let’s take a closer look at what those might look like for you.
1. Do it yourself
The DIY approach can be effective if you want something fast and authentic. Things like live streaming and simple pieces to camera don’t necessarily require high-specification camera equipment.
It is important to use this approach with caution, however, as you might unintentionally eradicate some all-important brand credibility if you don’t know precisely what you are trying to achieve.
2. Semi-professional
This approach will require a good camera, comprehensive video editing software and someone with some experience utilising this type of equipment. If you want to film an event or produce internal content, this could be an ideal option.
Although this approach is often very achievable and affordable, the variations in quality can be significant and will generally only be successful for simple brand narratives and concepts.
3. Professional
If you want to produce a corporate film, a professional approach will help you to achieve a high-quality final product that effectively conveys the credibility and ethos of your brand. Professional productions can result in creative limitations, however, as budgets can become easily strained and timings tight.
4. Premium
More time, better quality kit and experienced talent often equates to a premium brand video that stands out from the rest. This level of production is ideal for telling a compelling story in a way that will capture the most attention. As this will require a larger investment, it makes sense to work with a professional video production agency who will have the kit and the talent to make it happen.
5. Hollywood
This level of production adopts a no-compromise attitude. Ideal for signature hero content, the possibilities for SFX, motion graphics and CGI are almost endless. Creating something that has never been seen before can deliver an impressive ROI but it is essential that you fully understand the motivations behind this type of video, given the level of investment that will be required. Again, unless you have an established and dedicated in-house production team, outsourcing to a professional agency with a proven track record in brand film is essential.
Setting your Budget
If you haven’t ever set a video budget before, it is normal to feel somewhat overwhelmed, so here are a few things to consider to help you maximise your budget and create a satisfying brand film.
- Understand your objectives
- Carefully select the right video producer
- Be ready and able to supply the necessary resources
- Review your budget carefully
- Know what will be invested and where
- Understand how your video will integrate with your customer journey
Video is an excellent way to engage and communicate with your audience and regardless of your budget, integrating video into your digital strategy is an excellent opportunity which all businesses should be grasping with both hands.
