If you’re thinking about investing in a promotional video, you’ll want to know how much you should spend. There’s no set answer, but here are some things to keep in mind as you decide on a budget. The more complex and involved your video is, the more it will cost. But with the right planning and a bit of creativity, you can produce an effective video for under £1,000. So don’t be afraid to think outside the box!
1. The importance of a promotional video
Promotional videos are an invaluable advertising tool. They’re a great way to show off your company in front of new customers, build anticipation and excitement for the products or services you offer and engage with prospective clients on social media platforms like Facebook or LinkedIn and get them interested in what product or service you’re selling!
With so many powerful reasons, promotional video production should be at the top of every business owner’s list when considering marketing strategy.
2. What you should expect to spend on a promotional video
The cost of your promotional video will depend on the goals you want to achieve and the elements required to make it. If it’s primarily intended for short form social media marketing purposes, then a lower budget might be more appropriate and sufficient; however if you are looking at other methods such as increasing brand awareness or getting people excited about what they see online – spending some extra money could really pay off with increased results!
Usually, you’ll receive one invoice for your entire video project. This is usually calculated from a day-rate multiplied by the number of days to complete. So if the day rate for the video company you’ve chosen is £400 and your project takes 4 days to plan, shoot, edit, and deliver, your cost will be £1,600. However it is also important to remember that there may be other additional costs such as hiring actors, purchasing props, or renting a location that might also need to be factored in.
Here is a more detailed breakdown of the activities within a day rate:
Concept: This is the creative space needed to come up with the idea and unique approach to the video. It might take hours or days, depending on the complexity of your project.
Pre-production: Once the idea is approved, the team needs to create a shot list, schedule talent (actors) if necessary, and arrange permits for locations, gather equipment, etc.
Video shoot: The actual time spent shooting in the video production industry is often calculated by day rate, not hourly. If your shoot is a single location and very simple, such as a talking head video shot in one locationg, then a half day rate may be offered.
Post-production: Now it’s time to bring it all together by taking all the raw footage and polishing it into a finished product. Editing for audio, color correction, and dozens of other tasks occur during post-production, including the digital file creation and transfer of ownership to you. This is often the lengthiest part of the process.
Pro Tip – You should always ask what is included in your quote.
Pro Tip #2 – Add some budget to push your video out on social media, the more people see your video the more impact it will have for you.
Please keep in mind that pricing will vary depending on what exactly is required for your video. Sometimes a 30 second ad for Instagram can cost more than a 5 minute promotional video. BUT always be wary if the price seems too cheap for the solution offered.
3. The benefits of using a professional videographer vs. filming it yourself
There are many benefits of using a professional videographer vs. filming it yourself are:
The quality of your video is directly proportional to the resources you invest in it. A skilled production company will have more equipment and experience, which means they can produce videos more efficiently and for less money than if you were trying to do all this yourself by buying/renting what’s necessary individually – meaning better results!
Professional Videographers are the best at capturing all of the moments for your projects. You won’t be able to capture everything when you’re busy with other things, so it’s important that someone else does this for you!
Cooperating with a video production company will enable you to create compelling story driven videos which maximize engagement.
And finally there is less work for you!
Promotional videos are a great way to engage with your audience and increase conversion rates. But what’s the best length for them? It depends on how much of a budget you have available, but we typically recommend 2-5 minutes in duration. This will make sure that viewers get enough information about your product or service without dragging it out too long. If you’re ready to start planning a promotional video for your business, let us know! We can help create an engaging video that highlights the benefits of working with you while staying within your marketing plan goals. Get in touch today!