The future is here when it comes to marketing. Video has proven time to time that it is an effective tool to market a business nowadays.

Allotting a budget for video marketing is a must especially if you are aiming for a faster ROI. The question is, how much? White Lemon provides you an idea on how much it costs in hiring a quality business video production.

The same principle applies in video creation, you get what you pay for. You need to consider the following factors:

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1. Type of Video

The amount of time and money will vary depending on the type of video you want to produce.

The length will also be a big factor in its costing. The longer the video, the higher its impact on the budget.

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2. Platform to be Used

There may be an additional cost based on your chosen platform. This applies especially on television as it will require you to pay for airtime.

Prices for TV broadcast will be depending on the nature of your content as well as your requirements for it.

The good news is that smaller-scale businesses can now capitalise on the power of social media. You can now broadcast your video content with little to no cost.

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3. Styling and Aesthetics

How you want your video to look will also affect its pricing. You will definitely spend more if you want to get that ‘premium’ feel.

Everything depends on how complex you want the set to be. The fee will be higher if you want a well lit set as it will take more time to assemble all the equipment.

Your concept may require a set of equipment to materialise – it could be in the form of using a jib, a crane, or a teleprompter. 

Renting these materials will be on an hourly rate, or even an additional expense on your billing.

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4. Video Production

This will make or break the success of your project. You are expected to spend at least $50 an hour for up-and-coming videographers, and between $120-$250 per hour for larger-scale companies.

Rates of companies that provide video production services are different. It could be based on the following reasons:

• Experience
• Credentials
• Company Size
• Expertise (Niche, Industry, etc.)
• Location

It pays to find a partner company that is aligned with your budget and goals. Get a team that has work samples that are fit to your video ideas.

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5. Other Necessities

• Actors - You may need actors to fully explain your message. It generally costs from $40 to $600 per hour, depending on how established the actors are.
• Voice Over - An additional $150 to $500 will be spent if you hire a professional voice over. This quote is for 3 minutes of spoken word.
• Music Licensing – This will be depending on the platform you want to use as well as your audience. It will be between $20 to upwards of $200.

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Final Thoughts

A video production may be overwhelming and can sound like a very pricey project to take. Costs will be different from one production to another.

There are various financial aspects you need to consider, whether you’re planning to create an engaging social media video or simply corporate overviews.

Having an excellent video production company on your side is a big plus. They can help you save some budget through their unique ideas and creativity.

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