What Should Be Your Budget For Video Marketing?

What is Video Marketing?

Video marketing is a component of unified marketing communications that is planned or designed to increase the engagement of the audience through any social activity given around a video. Video marketing is used to build a customer rapport, promote your brand and service also the customer testimonials, live stream events, deliver viral content, etc. It is thus a better way to connect with your audience and provide them with information and keep them engaging.

Now, there are many types of videos that are made which have different types, causes, and content. Each video thus has a different budget according to which one should decide their video marketing budget. The types of videos are as follows:

• Animated explainer videos: Mostly the B2B brands used these types of videos which ranges from 30 seconds to 90 seconds. These videos are very effective in nature but are not cheap. A 60 seconds video can cost you approximately $5,000-$10,000 and additional price for the script writing etc.

• Hiring a film team for recorded videos: These videos are mainly the real, live footage videos that are shot and edited. The cost of directing the film, editing the video, and the need for the type of actors all in all can approximately cost you more than $100-$500.

• Demo Videos: Demo videos are mainly those types of videos in which the details about the product and the use of the product majorly are captured. It can cost you a big investment upfront and can cost an average of approximately $1,000-$3,000.

Cost to Hire a scriptwriter and editor:

Other than the types of videos the cost of hiring a scriptwriter and video editor is also an important part. Most people do hire professional writers and editors to get the clarity in the video and to make it look professional so as to get the attention of the audience. If the editing and the script are at its best, it can thus gain the engagement of the audience. Videos with high clarity are thus preferred by the audience. Thus, to get a good scriptwriter you can be charged up to $100-$300 per hour. It mainly depends upon the length of the script. An editor may take approximately $200-$800 per hour as they edit the video from its images, sound, animations, etc.

Now, as stated above video marketing is not so cost-efficient. But, there are many businesses, tools, and freelancers who may at times charge less. Therefore, looking at the price tags it is pretty sure that video marketing is not so cost-productive and one should have a healthy budget to start a career in this particular field.

Today’s scenario in the field of Video Marketing

In the early days, everybody used to only know that video advertising is just very expensive to invest in. The TV advertisements can range between hundreds of thousands of dollars to be produced, without even mentioning the cost and placement, people did have a certain mentality. But, today, all people need is a smartphone and a certain idea of your content and you can start your video making adventure. With the introduction to social media and slight ease of access for the range of making videos people can make easy short videos anytime.

How do I choose my Video Marketing on a Budget?

To settle on a particular budget it is very important to follow some strategies.

• You need to first fix your goals and how you will measure your ROI. Always recollect points like are you looking to attract new users, want more conversions, or you need to focus on post-sales, etc.

• You will need to decide on your style video and then should determine what you actually need for your video. Like animators need to explain a lot and thus need a designer and an artist, voice work and editing, etc. But viral videos only require a phone and some creativity.

• Always start small and then invest in big ventures. One should not opt for a million-dollar budget plan with no strategy. Always start with a low budget video marketing for your business and then move forward. You will also give time to your level of work and to your goals.

• Always see and fix your resources to the right and needed video channels. Social media platforms like YouTube and Instagram have completely different video requirements and have different audiences. Thus, if you are overspending on the wrong platform you would have to start from the beginning.

Different Price-Range for different types of videos

When you are talking about video marketing, it is very important to know how much you are getting paid and for what. Even though there are several levels in the market and each individual or company have their own set of payment chart, here we have taken out a certain estimate for you which is as follows:

• Semi-professional videos cost mainly between $1,500 and $3,000 which is an affordable price with a difference in the level of quality. These can be best for any viral efforts or for even capturing live events.

• Professional videos mainly cost between $5,000 and $20,000 and therefore comes with a certain guarantee and credibility of quality. They may not be complete standouts but will contain a standard for quality.

• Premium quality videos are known as the best features of tools and talents and they do generate better results and have high quality which will give you a surprise factor. They are somewhere between $25,000 and $50,000 but you really need to trust your team and work with them.

• Hollywood videos are not known and opted by most of the people as they come with a certain guarantee or surety of success and also feature the known and some of the best talents in the business. Therefore, there will be a hike in the amount of price. You can expect up to $100,000 if needed.

Bottom Line

Video making is considered as a talent or art. It requires creativity, technique, ideas, patience, and much more. There are many stages of video making or different types of video making and the team, the ideas its making everything depends upon it and so the budget of the video marketing. It is not always sure that if you have a high budget you will definitely get fame from your video or it will become a success. The quality and technique remain the top priority to judge and not the budget.

AquGen Technologies, a leading Digital Marketing Agency in Delhi, offering 360-degree solutions to all your online marketing needs.