As a startup with limited resources, you may be concerned with how much it’s going to cost you to shoot and publish a promotional video. The truth is, professional-quality video does not have a fixed price when you have to factor in video types, style choices, and, of course, the varied offerings of video production such as production houses, freelancers, and DIY animation platforms. Video costs can range from under 200 thousand to 6million.
Not sure how to price up your promo video? Not to worry—we can help you to determine the costs and stretch your budget to get the results that you deserve.
The cost range of creating a promotional video is so vast that it’s tough to pinpoint just one price. An online video maker can be free if you’re on their free plan, while a 30-second TV spot can cost over 2million.
The final price of your video will usually depend on the following things:
So, how much does it cost to create a promotional video
Let’s look at the different options you have for creating a promotional video and the costs associated with each option. Below is a summary that summarizes everything, but you can keep scrolling to read a detailed explanation for each point.
Online video maker
N0 – N50,000 / month subscription, using only assets inside the tool.
N20,000 – N50,000 sources and licenses of stock imagery from other sites.
The most inexpensive way to create a promotional video is to use an online video maker. There are many options with various features and tools to create promotional videos yourself or with your team. Some of these tools include Visme, Promo and Vyond, among many others.
In many cases, you can create a video for free with one of their free subscriptions. If you want to tap into premium features like custom animations or a wider variety of stock footage, you’ll need to pay for a higher plan.
Freelance videographers, editors, animators
N50,000 – N1,500,000
If you don’t want to create the video yourself, you can hire a freelancer to do it for you. Depending on what type of video you want to make, you can work with videographers, animators, editors or freelancers that offer the complete package.
The freelance marketplace Fiverr, for example, offers lots of different options. Some freelancers charge lower prices and use stock imagery, while others do custom footage and charge a bit more.
Search for promotional videos on the Fiverr website and browse through all the options. Also, check the Fiverr Pro section for vetted freelancers that have higher ratings for better work. You can also use platforms like Upwork and Freelancer to search for the right professionals.
When hiring freelancers, you might have to employ different people with specific skills to do different things, especially if you’re creating a mixed media video. So, make sure you are organized and let the freelancers know what you expect of them.
Video production agency
N870,000 – N5,000,000+
If you find hiring a team of freelancers is too much work, you may want to hire a full-scale video production agency instead. To find one in your area, search Google Maps. If you don’t mind where they are, try Fiverr, a Google search or ask around for referrals.
Video production agencies are a dime a dozen, and you won’t have a hard time finding one. As to which one to go with, you’ll have to see what videos the agency has produced previously and how they fit into your budget.
A good thing about using a video production agency is that they can take care of everything, from writing the script to production and shooting and editing. Of course, the price will vary according to the type, length and quality of your video.
When hiring a video production agency, be upfront about how much you can spend on the video and what you’d like to see as the final result. Ask them what options can offer. Agency prices vary immensely, because there are many variables to consider.
N1,700,000 – 46,000,000+ / per animated minute
If you’re not creating your promotional video yourself with an online tool, or if you want to use custom animations and don’t want to hire a freelancer, consider hiring an animation agency.
Video production agencies will often have animators in their team who can do simple animations or motion graphics. But if you want custom animation, you’re better off hiring professional animators.
Like a regular video production agency, animation agency costs vary by type, length and quality of the video. 2D or flat animations cost less than 3D or life-like animations. Similarly, animations with backgrounds cost less than ones without backgrounds.
N5,800,000 – N160,000,000+
The highest tier when it comes to promotional video costs is the advertising agency. The purpose of an advertising agency is to take care of a brand’s entire advertising needs, and promotional videos are only one of the services offered.
Advertising agencies are generally hired long-term, where brands partner up with an agency to ideate a suite of advertising outputs like TV commercials, billboards, events and more.
Another thing that advertising agencies help with is air time for your video. They can book you a good spot during a highly rated show or game broadcast. Keep in mind, though, that prime time placements have very high costs. Placements in day-time TV are considerably lower.
How much should a promo video cost? Well, simply put, it all depends on whether you choose to shoot original material or source stock assets, how you edit your video, and the place of publication.
Having said that, you can keep costs down by contacting the professionals to help you create that promotional video and you will be glad you did. Why not contact kennysoft STUDIOs the video marketing agency that makes video marketing easy.