Costing A Corporate Video – An Insider Guide
When engaging a video production company for a new corporate video, one of the most frequent pit falls for the corporate client is that of establishing costs.
It is a difficult process on both sides. For the client it can seem as if the production company is being evasive when providing a definitive price for a production – the oft-used “how long is a piece of string” frequently gets trotted out. Why can these people not define a cost for their product easily?
Equally it is a challenge for the production company, who have to take time to really establish what the client wants from their video. A comprehensive conversation explaining different filming techniques, graphics and post production plus the thousands of other options available usually does the trick. However the production company is always aware that the client’s expectations can and will frequently change. It is important that the price is right at the start, otherwise the production company could be running at loss.
The best way of establishing what can be provided – is of course to find out the approximate budget. From this the production company can tailor a quote accordingly – managing expectations as they go. It’s unrealistic for example, to expect a computer generated multinational spectacular for £500!
Reasonable prices for a well produced video.
For the sake of the corporate client – here is an approximate price guide in terms of what you should be paying for a few different kinds of corporate video
After Effects based video.
A typical, 30 second AE based video should take the production company a few days to produce. It will usually form photos/graphics provided by the client, as well as some custom designed logos and may have a voice over
Reasonable price £800-£1200+VAT
Presenter led video
This would feature script consultation and a presenter in front of a green screen with custom graphics keyed in behind him/her.
Corporate Marketing Video
What most people would consider to be a proper corporate video – with multiple live locations, talking heads, graphics, voice over – whatever is needed!
Minimum £1000+VAT per minute
This leads on to the importance of finding the right production company. There are, of course, many production companies who will promise you the moon on a stick for a price which seems very competitive. Buyer beware – as is always the case with these things – you get what you pay for. There are a lot of poor productions companies out there will be more than happy to take your money and provide you with an inferior product which you’ll want to keep well away from any customers
And this of course defeats the point of the whole exercise!