These days its pretty standard for a company to be looking into video as a way to market their business social media is full of video content so I rarely get asked ‘why?’ but always ‘how much’.
The truth of the matter is there really isn’t a straight up answer to that. It’s not like buying a pair of trainers where there is an RRP, we make custom solutions for every client so prices can vary wildly.
Here are some things to consider when looking into costs;
Time it takes
- How many hours/ days will my production take to film? - How many hours/ days will it take to edit? - Am I expecting to see lots of motion graphics?
Talent used
- Do I hire a freelancer/ professional company? - Do you need professional actors or can you use staff/ friends? - Do you need to pay for a stylist?
Equipment
- Which camera is suitable? - What type of lights and audio setup is required?
Locations
- Can we use our own office/ home/ outdoor space? - Should we hire a studio/ Airbnb/ office
Final outcome
- What are my expectations? - Who will see the video? - What do you want the viewer to take away?
It's really important to consider what the production is for. Is it internal, for social, a company profile or product demo? How high level does the production need to be?
Here are the 4 main types of video suppliers;
1. Amateur
Basically someone fresh out of college who is willing to work for very low money or none at all.
Benefits; Inexpensive Risks; Amateur results, may not get the desired content, might be difficult to contact Perfect for; Personal blogs or YouTubers Price; Free/ expenses
2. Freelancer
A trained professional who normally has 1 main set of skills (camera or editing)
Benefits; Higher production values and still very affordable Risks; Might be working on several jobs at once so you may end up with significant delays Perfect for; Low level events, basic internal comms Price; US$500-800 per day
3. Professional
Fully trained professionals using medium to high-end equipment and top notch production values. Will have a small team of people who are experts in their designated field.
Benefits; Efficient and reliable with a solid client base and video examples Risks; May have experience in a very niche area only - fashion or corporate for example Perfect for; Large events, product demos, professional corporate communications, crowdfunding videos Price; US$2,000-20,000
4. TV and Film
Broadcast level quality and crews that are very experienced in a number of areas.
Benefits; Should be the best in the business Risks; Can be very expensive to work with Perfect for; TVC, short films, trailers, creating a stand-out piece Price; US$20,000 and up
It’s always a good idea to have a budget in mind when planning who to reach out to. Also try to find some reference videos to use as a benchmark, this way right from the outset both you and the video provider know what’s expected.
Tonic Media is a production company based in Hong Kong with over 15 years of production experience. We make videos for Kickstarter and Indiegogo, brands and branding, products, interviews, training, events and many more.
Got a project to discuss? Get in touch for a free quote david@tonic.hk.
