A Wyzowl survey confirms that around 79% prefer to learn about a product through a video rather than text. 84% of customers have been convinced to purchase the product after watching the video. This means that your investment in professional videographic content is most likely to yield good returns. However, one question still boggles everyone’s mind: how does one decide the cost of video production.
A video production costing is based on the Video Type, Crew, Location Costs, Post
Production Formalities. However, the best way to get an idea of the budget is to get a quote from a professional video production company after giving them a video production brief.
Three stages of video production
Video Type – The aim and the message of your video determine the cost of your production. A cinematic advertisement requires different skills when compared to an animated commercial, moreover the higher quality of video you need, you can expect the production quote to be higher since it would require a wide array of equipment and technicalities and a larger time duration.
Most of the videographers and production studios charge day rates to shoot a video. The day rates are also inclusive of the equipment costs.
Crew– The production crew is important to ensure that everything goes according to your plan. Your crew should include experts who are in tune with the recent media needs and can efficiently deliver according to your needs. Your crew must contain the following experts:-
- Documentary DP (Director of Photography)
- Commercial DP
- Commercial Video Editor
- Motion Graphics Editor
- Sound Technician
- Gaffer
- Grip
Keep in mind hiring talent would cost you extra, the talent profile includes
- Designers, Stylists & Makeup Artists
- Models
- Other Assistants
However, if you are shooting a product video that has a theme of interviews or documentary then using employees or customers is a good idea as it will promote authenticity
Location Costs– Usually the location costs associated with video production are overlooked. The ambit of location costs asks you to ponder upon the following questions: where do you want your video to be shot – this involves considering the theme of your video is depicted more accurately indoors/outdoors. Are you shooting on a green screen? Are you filming in more than one location and how are you traveling between them?
To talk about it more accurately the broad factors in which the location costs are divided are as follows – Studio Rental, Fees & Permits, and Travel & Food.
Post Production Formalities – This is where most of the work in the area of a professional video production goes into, In this part, one could expect a lot of feedback from your company in the field of editing you might be asked to enhance the color and grading of your video, add subtitles, motion graphics, titles, and other edits to make your video visually appealing.
Another factor most people overlook is the cost of music licensing fee even though you have access to millions of royalty-free tracks on the web, if you want your video to stand out it is advised to use a specialized soundtrack that caters to your message.
It is important to understand that the more elements you want your video to have, the price is likely to get higher, Hence instead of adding on last-minute changes, it is important that you keep a clear idea in mind as to how you want your video to be presented.
Hence it becomes really important to understand that making a professional video production is not an expenditure but an investment.
If you are looking for trusted professionals who deliver your dream production in the quickest amount of time. Then SpacePepper Studios is your place, with best-in-class technical equipment, A cyclorama studio with green cyc, white cyc, and black cyc, as well as experienced inhouse DOP. We ensure quality and ease at your fingertips. Call us today to book our space.
