Video has always been a powerful medium and is gaining a lot of popularity in building effective content for a variety of digital marketing strategies. Video is no longer an “up-and-coming” marketing tactic. As a result, video production Toronto is on the rise as marketers find more innovative ways to grab people’s attention. It is because of this video has become a meaningful part of the strategic marketing conversation. From small businesses to large corporations, everyone is quickly seeing the advantages of building video content to be shown online, where more and more of their target audience are spending their time. In an age when it is a challenge to get in front of your potential customer, digital endeavours are proving very effective. Producing meaningful video content for distribution on the web and social media creates awareness for your brand’s goods and services. Due to this new trend companies are now allotting money from traditional marketing budgets, to digital marketing tactics which include video. In fact, video click-through-rates have increased dramatically through the use of video online. Hubspot reports that including video on a landing page can increase conversion rates by 80% and that 92% of mobile video consumers share videos with others. These are powerful stats to say the least!
Video Production Toronto
As more companies look at integrating video into their marketing strategies they are faced with the question; How much does video cost? This question comes up time and time again over the 30-years we’ve been producing videos for corporate and commercial video production Toronto at VCM. We understand that companies may have a challenge estimating how much a video production can cost for their marketing, sales and communications initiatives. There are many variables that come into play when budgeting a video production, such as the concept, script, talent, how the production will be done, editing, motion graphics, animation, and will the video be used online or in broadcast. It’s always great to start with a creative brief to effectively communicate your vision, goals, objectives, target audience, deliverables etc. for the video. It’s also very helpful to have a budget expectation in mind, so the video production company can provide production budget solutions and options to get your vision executed. On average, a corporate video production can cost anywhere from $2,000 to $10,000+ depending on the factors listed above. A motion graphic, infographic video, which are commonly referred to as explainer videos, can cost $3,500 to $12,000+. 2D/3D Animation or 3D visualizations can cost anywhere from $10,000 to $30,000+. As you can see there’s a great range for video production, which all comes back to what you need to make it happen. You can view our rates for our basic video production, for a one camera operator and one camera package, here. Below we’ve broken down the key factors for budgeting a corporate video production:
- Creative Development & Script
– Will the creative and script come from your in-house team or will you have the video production company create the needful?
– Is the Talent in-house Executives/staff or professional actors/talent? Keep in mind that if you go with professional actors you will need to pay for their usage and rights, which isn’t always budget friendly, especially for your companies first video. Here at VCM, we always recommend using in-house talent because they know what they are talking about and come off more natural.
-How will footage be captured to create the video? Will the production consist of a half-day, full-day or multiple shooting days?
- Live action production
- Green-screen production
- On-location or studio
- Production Crew – Does the production require a 1-2 man crew or is it a full-on production, utilizing many technicians and artists, such as a Director, Assistant Director, Cinematographer, Gaffer, Grips, Production Assistants, Continuity Person?
- Drones/Aerial footage – Is aerial footage required for the production?
- Video Editing
- Using original footage or stock footage and images
- Number of hours of footage to be reviewed and edited
- Will you require the source files for editing?
- Motion graphics & Animation
- Will the video need motion graphics, infographics and/or 2D/3D Animation?
- Packaging & Titles – How much packaging will the video require (Logo Intro/Outro and other branding elements)? How much titling/text is needed and is the text in motion?
- End use of the video i.e. online or broadcast
- Is the video going to be used for online or broadcast use? Broadcast use always costs more since more technical requirements need to be met. Broadcast requirements vary depending on the network broadcasting the video.
The above 6 points are the main things that will affect your video production budget. Keep these things in mind when formulating your creative brief so you can effectively communicate your vision and ideas to a video production company. If you need guidance and solutions for your upcoming video project give us a call at VCM Interactive. We are always happy to help and provide options to get your video done within your budget parameters. Contact us today here. Or visit us at www.vcminteractive.com