Explainer videos have become a cornerstone for businesses to effectively communicate information about their products or services. But when it comes to pricing, navigating the landscape can be daunting. Whether you’re a startup, experiencing growth or expanding your horizons, understanding how to allocate budgets for explainer video production is crucial. Here’s a comprehensive guide to help you make informed decisions.
1. Assess Your Needs: Before diving into pricing, create a video content strategy. Once you know how many videos you’d like to create, the number of minutes of video content you need and the video style/s you will be going with, you can start getting quotes from video production houses or agencies.
2. Understand Pricing Structures: Explainer video pricing can vary based on factors like length of the videos, number of videos you need, type of video and turnaround time. Typically, there are three pricing models:
- Fixed Pricing: This model is straightforward and suitable for businesses with clear requirements. Prices can range from $1,000 to $10,000 or more, depending on the complexity and duration of the video.
- Hourly Rate: This model is based on the time your video production agency spends on producing your video. Hourly rates for video production professionals range from $50 to $250 per hour, depending on expertise and location. Complex animations or custom illustrations could be more expensive.
- Custom Quote: This model is based on tailored pricing for your specific requirements. With this method, you get flexibility but it also requires detailed discussions with the production team. Costs can vary widely, starting from $2,000 for up to 60 seconds for basic animations and going up to $20,000 or more for highly customized videos with advanced features.
3. Budget Allocation: Allocate a budget that aligns with your business goals and expectations. While affordability is important, prioritize quality and effectiveness over cost-cutting measures. Remember, an explainer video is an investment in your brand’s image and messaging. It also has a long shelf line – so do it once but do it well.
4. Explore Options: Research and compare different video creation partners to find the best fit for your needs. Look for experienced professionals who offer a balance between quality and affordability. Check portfolios, client testimonials and reviews to gauge credibility and expertise.
5. Consider Templates vs. Customization: Depending on your budget and timeline, choose between pre-made templates and custom-made videos or better still, use a mix of the two.
- Templates: Offer affordability and quick turnaround. Prices for template-based videos typically range from $500 to $5,000, depending on the platform and level of customization.
- Customization: Provides tailored solutions for unique branding and messaging needs. Costs for custom-made videos start from $2,000 for basic animations and can exceed $20,000 for high-end productions with advanced features.
At Ripple Animation, we offer a range of video solutions to suit every business need. From affordable templates to custom-made videos, we prioritize quality and creativity to deliver compelling storytelling experiences. Visit our website to explore our offerings and elevate your brand’s communication strategy.