How Much Do Video Marketing Services Really Cost?
As one of the top video production companies in New York, we wanted to better understand how B2B video marketing is being adopted nationally along with how much do video marketing services cost. So, we decided to conduct a survey of other leading video production companies across the nation, and other marketing agencies that leverage B2B video marketing for their clients, to hear their experiences in their markets.
It’s clear video rests steadily in the conductors seat driving our attention in the digital age. This makes it the best form of content for businesses to utilize when driving sales and marketing goals. So for this, Part I in our two part series, we set out to better understand how much do video marketing services cost and what companies are paying for business video production services.
For many businesses that do not yet have experience with working with a commercial video production company, the imagination tends to run wild when estimating how much do video marketing services cost. As price varies from video production company to video production company to the next, there is a large range that most clients are getting when asking for a quote. Couple this with a mis-understanding in the market as to what variables make up the cost of commercial video production leaves potential video adopters nervous about what they might not get and what they will get.
This also makes it challenging for many professionals working at a video marketing agency to manage expectations with clients. Because of the wide range of video production services and editing skill sets, cameras and equipment, it is a challenge to aligning client expectations of the final video deliverable within a budget, when the client has gotten quotes all over the place.
Ranges for How Much Video Marketing Services Cost
A great way to help businesses get started in realizing how much video marketing services cost, is for them to see what other companies are paying for their video content. Similar to our experience in the New York video production services market, the range is anywhere from 5k to 20k per project. However, it is important to note that the video deliverables may vary from project to project. For example, the budget may output one (1) video deliverable or many (2+) video deliverables. There really is no “average” cost for a marketing video production project.
Range of quotes for a marketing Video Production
While budgets for a professional video production companies in New York, and elsewhere, will find it hard to be lower than $5-10k, budgets can certainly be higher than $20k depending on the scope of the project. For example, a five day shoot with high end cameras will have a higher investment budget than a one day shoot with the same cameras. That being said, most of our experts at leading video production companies across the nation, agree that a professional video production can be executed between the ranges of $5,000 and $20,000 per video project.
One of our respondents, Torrey Tayenaka, explained video budgeting best.
“Video is very scalable so I have seen budgets as low as $5k and go up to six figures really quickly. Most of our videos or projects start around $15k-$25k. These videos are sometimes a single hero video and sometimes a series of smaller lower budget videos.”
Looking for a more detailed explanation of what makes up the cost of a business video production, check out:
The question still remains, why should businesses spend valuable capital on video? These are the biggest value propositions for video according to our digital marketing experts:
“Video enables companies to “humanize” their messaging and build relationships with audiences in ways that they cannot with email, podcasts, etc.”
Head of Digital Strategy, Hinge Marketing
“Social media platforms allow for unprecedented levels of focused targeted marketing… And video is statistically the most viral and engaging form of content on these platforms. So it’s a winning investment (as long as you produce good content).”
Owner, Elephant Quilt Productions
“If managed correctly, video content can be used in many different ways and many different times to reach different target audiences.”
Founder/Managing Director at BW Productions
“Video is the best way to show, inform and educate…and the quickest way to do so. With the importance of the digital channel to drive leads…text and images pale in comparison to the effectiveness of video.”
President of MultiVision Digital
“You can get a huge reach socially with video, which helps immensely with branding, awareness and building audiences online that you can retarget.”
CEO at Magnificent Marketing
M I C D R O P.
For those of you that have missed it, or just want a recap, here’s the bottom line. Commercial video production is about communicating most effectively to your audience and should be standard business practice by now.
Despite the clear shift, video production services encounters continual resistance from decision makers. They still tend to follow the same outdated pattern; we don’t do video, video isn’t for us, now isn’t the right time. Video production companies in New York and else where are left scratching our heads confused at the lack of awareness.
Video will become the content production benchmark in years to come. Video allows businesses to build credibility and trust with their buyers early in the buying cycle before buyers engage with salespeople. Video works best when it is planned, thoughtful and integrated into an over all business strategy. Making sure video is created for the right place at the right time for the right message, will give you a return on investment and excited to do more video for other business objectives.
As Kelly Waffle explained, you can “humanize” your company and connect to your audience passively! Not to mention the effectiveness of this medium to convey information that is FAST and EASY to digest.
Video Production Services You Can Count On
Just like many of the nation’s top video production services companies referenced in this post, MultiVision Digital, specializes in commercial video production. We are able to work with both smaller businesses and larger companies who are eager to include a sound online video strategy into their long-term marketing plan.
Click below to fill out a form and reach out to us or give us a call us today at (646) 319-8609 to discuss your company’s goals and marketing objectives.