Video Production Pricing Comparisons, Problems and Solutions

While looking up some info for a client, I did a quick search on video production pricing from production companies. Ouch. You can see them listed below.

Out that of all the things that entrepreneurs and small businesses do ourselves, there are several we should probably stop doing - bookkeeping, graphic design, managing our calendar and online accounts. Hey I don't judge, I'm still doing too much of those myself.

Having said that, shooting our own videos probably saves us the most money, especially with the system-based approach that I teach. And, after reviewing the prices below, I see that outsourcing videos isn't really an option for most small businesses, it would just be way too expensive over time.

​Lastly, there are also compelling business building reasons to at least shoot your own videos. I explain more about that in this short video and the rest of the post below. 
Lets start with Problem One:
The challenge is that today’s video strategy requires a video presence, not just one or two videos. Eventually you want to be consistently posting videos at least once a month, and if you aspire to build a video audience on YouTube or Facebook, once a week posting is the minimum. 

No small business has budget to pay a production company to fill a pipeline with ongoing videos. 

Unfortunately, the pricing for even just one or two marketing videos isn’t that accessible, either.  Cost is a big challenge with professional shoots. From my years as a video producer, I really feel for the talented and creative professionals in that industry. I know video production has some VERY stubborn overhead.

Here are actual pricing numbers from some video production companies, with links to sources at end of the post:

Wirebuzz:
Explainer videos - ( short videos that explain your UVP, or a product or service, in a clear way. )
$15,000, website says most clients spend $15 - $25K

Testimonials videos - $12,500 
Most clients spend $12 - $20K

Video ads $9000
$9,000 - $20,000 is typical

Bonomotion: 
30 second commercial  $2400
60 second  $3600
3 minutes $4800

Animations, anyone? Surely those are cheaper, right? 
Nope. 

Grumomedia’s website says: 
The typical animated promo video costs anywhere from $3K to $10K a minute.
$3K will get you a very simple animated promo video as it will barely cover the costs of producing the script, storyboard, voiceover and hiring an animator.

Sleepy Dog Media: 
Blog post videos:
$2500 They hire an actor to do your blog post videos.  I’ve never heard of that, and don’t see the immediate benefit. Why wouldn’t you just do your own blog post video?  You know, like a vlog. 
Sales video: $2500
Explainer video -$3500

Granted, the videos from the video pros will look more expensive, some of them involve help in scripting, and of course they do all the shooting and editing. But that leads me to problem 2: 

Problem Two: if you outsource all your production, it’s a sunk cost, not an investment. 

After spending all that money, you haven’t invested in a foundation for your own video production. Our first time clients’ typical outcome includes:
  • 3 cornerstone videos (or whatever their Phase 1 video project is) Finally Done!
  • A video strategy for more.
  • A new skill set in efficiently setting strategy, scripting, filming and, if they do the editing, basic editing. 
  • An online Business Video Hub with their footage organized and accessible at anytime. 
  • A simple studio setup in their home or office where they can easily batch and create their videos going forward.

All for hundreds, if not thousands, of dollars less than one or two professional videos. 

Solution!
With all of that as a backdrop, I’m happy to report that our current Silver package starts at a fraction of those prices, and your outcome is not only great videos, but the ability to create more of them, affordably and efficiently! 

Last lil' point about pricing vs quality -  one thing I love about our Mirror Your Brilliance on Video method is that we teach you the small tweaks, learned over 15 years of marketing video production, that make a big contribution to the professionalism of your videos.  This perspective is missing from most other video "how to" programs. 

There is no reason DIY video has to look cheap. This isn’t good news for the video production industry, but it is good news for YOU!


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Sources for pricing: 
Source: https://www.wirebuzz.com/pricing/
Source: https://bonomotion.com/video-production-pricing/
Source: https://www.sleepydogmedia.com/video-production-packages.html
Source: http://grumomedia.com/how-much-a-typical-promo-video-costs/

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