It’s a question we hear all the time: how much does a video cost?

Dozens of unique variables go into the budget of any video marketing production. Many marketers worry that the investment is going to be out of their budget, but there are ways to manage the cost and save money. The three (main) things that affect the cost are time, expertise, and equipment.

Main Thing #1: Time

Pre-production planning. This is arguably the most critical part of the video marketing process. This is when your video producer will develop a concept, script and storyboard. These items become the draft for the video. The more complex the video content, the more time will be needed for pre-production planning.

Length of the video. The longer the video, the more it will cost. It takes more time to create a feature-length commercial than it does a 6-second advertisement.

Location. You can film your video in one location or several. More than one location adds time for planning, location scouting and more. It could even require travel. Your video marketing project may require a sound stage or studio. Some video marketing agencies have studios, but there’s still a cost for using them.

Talent acquisition. If you need to hire professional actors, presenters, or models, it will take time to find and review them, hire them and pre-direct them. Talent will also have on-set requirements such as craft services, makeup and perhaps even a trailer.

Editing. Video editing can easily fit into all three categories because it takes time, requires expertise, and sometimes even specialized equipment. Consider also how many formats and versions you require.

Main Thing #2: Expertise

Production staff. There is no substitute for experience. That said, there are many types of people who can be involved in a production and your video will determine which you need. Staff can include:

• Director

• Camera operator

• Production assistants

• Scriptwriter

• Lighting & sound

• Special effects artists

• Hair and makeup artists

• Video editor(s)

  • Augmented reality, 2D, 3D

  • Animator

  • Graphic designer

Main Thing #3: Equipment

Each video marketing project has different requirements for the equipment that is needed, but there are a few things things that any production requires.

Cameras. Simple videos may require only one camera, but higher-quality, professional videos often need two or more.

Specialized equipment. All video shoots require sound and lighting equipment. Some also require special effect equipment. This could include weather machines, pyrotechnics, or prosthetic makeup.

Props. The theme of your video will determine the props needed. Even if it’s just a “talking head” video, they may need to be sitting in a chair or at a desk. You may require fishing equipment, a kitchen, flowers, or a dog, etc.

Your shoot may require a vehicle to move equipment and props, furniture rental, a drone or even just a coffee cup. These items must be secure and accounted for in the budget.

How to Save Money on Video Marketing

It might seem like the easiest way to save money is to keep your video as basic as possible, but that’s only true to a certain extent. Video quality ranges from amateur to professional to Hollywood quality. As with any creative endeavor, you get what you pay for.

However, you can save money in a few ways.

Planning. Know what your goals are and have examples of the type of video you’re looking to create. Failure to plan brings indecision and changing direction that costs time and money.

Supply resources. Prepare a file of resources such as contacts to key individuals, available locations or filming resources, logos and brand guidelines. Most of all, make someone available to answer questions, review footage and provide feedback on time.

Disclose your budget. When your video marketing team knows your budget, they can plan an effective, efficient production and meet your goals. Having an open dialogue about your budget and expectations at the forefront will set you and the production team up for success and save money in the long run.