If you have a startup or company, you need to make a video to publicize your services, and indeed you have asked yourself that question before starting: How much does it cost to make a video?
First of all, you have to understand that creating a professional video does not necessarily mean investing a lot of money.
Today, there are many alternatives to produce an institutional video from scratch, each with its price range, from large, medium, and small production companies, to freelance filmmakers and DIY animation platforms (Do It Yourself: do it yourself).
Budget: $10 – $1000
If you are a startup with a limited budget, there are many platforms such as Invideo and Animoto, among others, that offer you an online editor so that you can do it yourself.
With a monthly subscription, you will have access to an HD animation platform, which contains a complete library of objects, images, characters, shapes and songs to make a video from scratch.
CONCEPT AND CREATIVITY
If you are going to use a DIY ( Do It Yourself ) platform, you and your team can come up with the concept, propose the objectives of the video and choose the images to include, which will reduce the budget of the freelance editor if you hire one to assist you in editing.
PRE-PRODUCTION
Write the script before you start using the online editor. Afterward, you can put together the storyboard using the animation platform to test variants.
And if you work with a freelance editor, ask them about the available resources in the online video editor.
PRODUCTION
The freelance editor’s job will be to implement your ideas making the most of InVideo, which offers all the elements (and even the effects) Pre-designed.
The editor will guarantee you a high-quality result at a very low cost.
Of course, you can also solve it yourself with InVideo and invest only in a monthly plan because with InVideo you can make professional videos without the help of professionals.
You have all kinds of video, graphic, and music templates within the online editor. You can also copy and paste entire scenes.
POST-PRODUCTION
In this final stage and with the budget you manage, you will not mix sound, but you can add a song free of copyright that you get on the Internet and add it to your institutional video.
If you want to incorporate dialogue, record voices on your smartphone and then upload them.
When you see your finished video, you will be amazed at the professional quality you achieved.
Budget: $1,000 – $4,000
If you decide to make your corporate video with a freelance editor, there are two essential advantages: 1- you will spend less money; 2- it will be easier to communicate because there will be fewer intermediaries.
An additional benefit is that both freelancers and large production companies use the same editing software nowadays.
Another factor to keep in mind is that if you hire the services of a single freelance worker, you should probably go for an animated video rather than a live-action one unless you are willing to add more people to the team.
The final budget will be defined based on the duration of the institutional video, which will directly affect the editor’s working days.
CONCEPT AND CREATIVITY
Hiring a freelance editor will involve working more together to develop the concept and the script since one person cannot do the work of several.
PRE-PRODUCTION
Someone in your company (or yourself) will have to write the script and send it to the freelance editor so that they can make the necessary suggestions and technical adjustments before the realization of the storyboard.
The realization process will be similar if you choose to make an institutional video on a live-action budget.
PRODUCTION
If you make the video live-action, you must factor in between 1 and 3 days of filming, including a limited number of locations.
On the other hand, if it is an animated video, the editor will calculate the working time based on the length of the script.
POST-PRODUCTION
With a budget of up to $4000, your video made in live-action will be edited and have a few color adjustments, and the sound mix will consist of synchronizing the audio with background music.
Likewise, the number of corrections will be limited and previously scheduled in the preparation of the budget.
Budget: $3,000 – $5,000
When making an institutional video, small, niche, or boutique video production companies can offer your company the same services as a large production company.
The big difference between the two is that the small production company has less equipment and fewer staff.
CONCEPT AND CREATIVITY
It is important that you agree with the production company the purpose of making your institutional video, the idea you want to convey to your clients, the length and style of the video, and which channels you plan to distribute it.
PRE-PRODUCTION
The creatives of the production company will write the script and illustrate the storyboard, which they will send to you for you to review and comment.
You will be offered a standard production team consisting of a videographer, a sound engineer, an editor, and a colorist, and you will receive a filming schedule.
If you choose a video made in animation, they will provide you with various animation styles to choose from.
Depending on the size and resources of the production company, they may offer you only one alternative and not all.
PRODUCTION
The production of your corporate video will depend on the number of locations and interviews that are made.
If it is a video made in animation, it will evaluate the delivery date about the length of the script.
POST-PRODUCTION
They will offer you a limited selection of special effects, as well as editing, sound mixing, and color adjustments.
Budget: $5,000 – $10,000+
Suppose you choose to make your video with a sizeable video production company. In that case, some minor variables can affect the final budget, but in general, these types of companies offer closed packages with fixed prices.
CONCEPT AND CREATIVITY
The first thing a large production company does is tackle conceptual development and creativity.
For that, in one or two meetings with you or someone from your company, they will understand the objectives of making the corporate video and what you want to convey.
Then you will receive ideas of the script to be developed to define together and suggested alternatives about animation styles, possible locations, and a recommended duration for the video.
PRE-PRODUCTION
At this stage, the creative writers will write the script and develop the storyboard, which will then be submitted for your review and editing. The length of the video and the number of people needed on the team will be evaluated based on the complexity of the filming.
Suppose your corporate video is made with live-action. In that case, the film crew will consist of one or two cameramen, a sound engineer, illuminators, a teleprompter operator, makeup artists, hairstylists, etc.
Each professional item that is added will increase the budget.
On the other hand, if you have opted for an animated business video, the work team will involve fewer people. In addition to giving feedback on the script, you will have to choose an animation style: motion graphics, 2D, 3D, cartoons.
PRODUCTION
The production cost will be directly related to the number of days of filming, the number of locations, and the work team’s size.
For this, the production company will give you a detailed filming schedule so that you can confirm if the times are met.
If your institutional video is made in animation, they will give you a delivery date, although you can ask to see previews or the first version of the video.
POST-PRODUCTION
In this last stage, the editors of the production company can make you participate in the final choice of special effects, audio mixing, and color adjustments.
In some cases, production companies can host your corporate video on their server and, later, provide you with statistics on how your audience perceives it.
At Kobe Digital you can learn more about video production and for more information please visit our website on regular basis for more content.
