Thomas Palermo
Between low-budget freelancers and high-cost production companies, differences in price can be a bit confusing at first. Let's look into what influences the cost, what you can get for each price range, and if it's worth it or not.
At the end of the day, the best bang for your buck is an explainer video that helps you make sales but, let’s face it, finding the right team to create an explainer video for your company can be an incredibly frustrating task. The problem isn’t that there aren’t plenty of creators out there. It's that there are an overwhelming number of options.
is and what services it should include. Should you pay far more to use a professional video marketing agency? Or take your chances on a freelancer and hope that the finished product doesn't turn out to be mediocre or just plain terrible?
The truth is, it depends. The good news is that we’ll tell you exactly what it should depend on. Join us as we delve into the world of explainer videos, what making one entails, and what you can expect to get for a variety of different prices.
Why Explainer Video Price Ranges Vary so Drastically
How much does explainer video cost affect quality? It doesn't necessarily have to. Figuring out the ideal budget for your video is largely a matter of deciding what services you need.
If you've got the patience to sniff out the best freelancers on sites like Fiverr, then it's possible to get a decent video like this one made for around 130€ within 5 days.
The trade-off is that what you’re paying for typically begins and ends with your video’s production and editing. If you get lucky, your freelancer might even write your script and provide voice over talent. But you'll have to figure out what you need to tell them what to do, and once the video is done, you’re on your own.
At the other end of the explainer video cost spectrum, there's the option of hiring a professional team, which can cost upwards of 35,000€. What's with the massive price hike? Professional marketing production agencies cost more because they provide a much broader range of services. These agencies will work with you every step of the way, from strategy and messaging to distribution, reporting, and optimisation.
Not only will they stop at nothing to churn out the video of your dreams, but they'll also provide you with the expertise to make sure it does exactly what you want it to do.
What Influences the Average Explainer Video Cost?
Nailing down several aspects of your explainer video can go a long way towards helping you figure out how much to set aside for your budget. The following factors generally go into determining explainer video cost.
Production Method and Style
Should your video use live-action, animation, or even a style similar to a PowerPoint or Prezi presentation? The important thing to consider is which format is likely to get the best response from your audience. While your goal is to produce a great explainer that helps drive sales, it shouldn't come at the cost of maxing out a full year's marketing budget.
Type of Footage and Level of Creativity
Whether you want your video to use stock or original footage is also another huge explainer video cost consideration. Even though it's far cheaper, rest assured that stock footage isn't necessarily a bad thing. The key is to make sure you find an editor with enough creativity to craft it into something truly memorable.
Duration and Variations
Length is almost always a huge explainer video cost influence, regardless of who you hire. Luckily, short and sweet tends to be the name of the game when it comes to appealing to today's online audiences.
You'll also want to consider how many size and format variations you'll need for your video. Each social media platform has its own unique formatting style, so this is not something you want to cut corners on. Spending a little extra on ordering platform-specific cuts can make a huge difference when it comes to ROI.
Notoriety
If you're looking to keep your costs down, then hiring the hottest explainer video production company on the internet may not be the wisest choice for you. As in any industry, the more awards or recognition a company garners, the higher their prices tend to soar. It may be worth it to compare the work of top companies to similar, but less expensive, competitors.
What Does the Explainer Video Creator's Cost Include?
As discussed above, different creators offer different prices for a reason. Before hiring any creator, make sure you understand exactly what services the price includes. A video is made up of many components, including everything from footage or animation to voiceovers, background music, sound effects, subtitles, creative editing, and an integrated CTA.
Number of Videos
Do you want to produce a series of videos all at once or one at a time? It may sometimes be possible to get a discount if you order your videos as part of a strategic package or bundle.
Formulating an Explainer Video Attack Plan
As with any great venture, preparation and planning are key. Now that you know what to look for in a video creator, it's time to zero in on the video itself. Here are some important questions to consider:
- Who is the audience and what do you want to tell/teach them?
- How should the message be presented in order to best reflect your brand?
- Do you plan to write the script yourself or should you hire a professional writer?
- Where will your video be featured?
- Do you know how to upload it to your website's social media accounts, homepage, or landing page? If not, will you need to hire someone who does?
Don't get so caught up in the production and editing of your explainer video that you fail to consider what you'll do with it once it's done. Proper distribution, SEO optimisation, and analytics tracking and interpretation will also be key components of generating a respectable ROI.
Who To Hire Based On Your Explainer Video Budget
It's not uncommon for first-timers to the explainer video scene to find themselves overwhelmed by the staggering number of hiring options. If you've already got a budget in mind, it may be able to help you narrow down your search for the perfect creator. Check out this handy breakdown of various options and how much you can expect to pay for each.
- Fiver, Upwork, and other freelance sites: 130€ - 2000€
Most of the creators you'll find on these types of sites are animators who use either templates, custom animations, or a mixture of the two. Those who produce live videos almost always rely on stock footage to avoid production costs.
It's worth noting that many animators (of any level) charge based on video length. So, once you've narrowed down your list of candidates, it may be worth it to hire each to create a 10- 15 sample video to help determine your final choice.
- Local novice production companies: 800€ to 5000€
It can't hurt to look into any video marketing companies near you, especially if you intend to use live footage. If you find a winner, you may be able to take a more active role in hiring actors, crew members, or other aspects of your video's production.
- Professional Production Company: 3000€ - 40000€+
While hiring a professional production company can be a great all-in-one solution, there are a few things you should keep in mind. Not all video production companies will offer everything you need, regardless of what their prices may suggest.
This tends to be especially true of companies that do not specialise in marketing. Before handing over a deposit, make sure the agency you choose will help you every step of the way, from strategising to distribution.
The In-House Alternative
As you can see, creating even a few high-quality explainer videos can get very expensive, very quickly. And unfortunately, producing just one or two isn't going to cut it when it comes to boosting sales. If you want to develop a video marketing strategy that actually results in a strong ROI, you'll need to commit to producing a minimum of around 20 videos each year.
That's one reason that some companies cut out third-party video creators altogether and simply hire a video marketing insourcing specialist. For the price of a few videos, these specialists can help you set up your own in-house marketing studio, guide you on your search for a full-time videographer, and coach them on proven video marketing strategies.
This can be a nice compromise between searching through hordes of freelancers and paying an obscene amount of money for the services offered by professional video marketing production companies. Instead, you'll be able to work closely with a videographer who is specifically dedicated to developing your company's video marketing content.
The bottom line is, these days, a strong internet presence is essential for any business. Creating your own in-house video marketing department can be a hassle-free way to boost sales, generate new leads, and become a trusted voice in your industry.