The Cost of Online Video Production

The prospect of getting a business video produced is littered with potential hurdles, and the first one is a biggie.

Cost.

Most businesses have no idea what is takes to produce a professional video. There’s a very simple reason for that.

Asking, “How much does a video cost?” is like saying, “How much does a car cost?” They can be dirt cheap or obscenely expensive.

But don’t worry. Just like most people have a certain price range for a car, there’s a common price range for video productions as well.

Here are some fairly thorough write-ups detailing the costs of video productions.

“ You are still looking at a starting price of around $200 for a very simple one camera, no lights, microphone on a camera shoot with not much editing done other than getting it ready for the web. A more realistic approach is to figure that a finished video will cost anywhere from $200 to $2000 for every finished minute. (That $200 is rock bottom by the way and is rarely met.)  Given that range, a 3 minute video could cost anywhere from $600 to $6000. Some folks would even say that $6000 is too cheap for making a good production.”
- New Path Media

One Market Media details many of the specific factors that effect cost.

“ Taking all of the above into consideration, there are reasonable ballpark figures that you can use as a guidepost for budget purposes. A two to three minute web-based corporate video presentation might cost between $2500 and $7500 depending on the variables mentioned above. If you use the time honored “$1,000 a minute” for a professionally produced online corporate video as a starting point, that will give you a reasonable idea of where to begin in the budgeting process.” – One Market Media

With the average video industry rate for a very basic video rate at $1,000 per finished minute, most small businesses are hesitant to go any further than occasionally dipping a toe in the water.

That’s a shame. When you dig into the numbers, you can see why video has become one of the most effective business tools in history. (a bold claim, so here’s the information)

• Web Video is 40% more likely to grab attention than text – Comscore
• Video landing pages generate 4-7X higher engagement and response rates than static image and text landing pages. — SearchEngineWatch, February 2010
• Customers who watch videos on product pages converted at twice the rate of customers who did not. — Internet Retailer, August 2010
• With Online Video: 21% of video viewers make a purchase. 21% of video viewers request more info. 26% of video viewers visit a store. – BIA/Kelsey User View Study, February 2010.
• Video is the fastest-growing web site feature, according to a survey of 12,000 growing businesses – WebVisible, Forrester
• 73% + of top 20 companies in each business sector use web video as part of their strategy – VideoBloom

So what solution did we come up with for the cost issue? We streamlined every part of the video production process, resulting in a simple, affordable, and professional way to produce custom videos for your business. Need a business video production of your own?

Advertisement