Estimating Realistic Video Production Costs

10 questions CRM Studios asks before estimating video production costs

Video production costs, to the average person without an understanding of what goes into a bid, is a mystery. It’s easy to say “you get what you pay for,” but far more difficult to detail and support individual costs.  To avoid budget surprises, before writing a bid, CRM Studios asks ten questions, to better understand exactly what is needed out of their video. These questions provide clarification and insight into the type of video the customer needs and wants.

10 Questions to Clarify Video Production Costs

  1. Who is the audience? 
    1. CRM asks this question because we want to know who the customers want to reach. The audience by demographics, traits, and habits, internal or external, and location. Helping the customer narrow their audience profile allows us to better estimate the final video production costs.
  2. How will they see the video? 
    1. On what medium will people watch this video. For example, will it play on a website, TV, kiosk, or as part of a presentation? Knowing what medium, the video plays on helps CRM understand the quality of production the customer seeks.
  3. What is the call to action; what do you want them to do when they view the video? 
    1. Sometimes customers do not know the answer to this question. It is essential for the customer seeking a video to understand what they want people to do after watching. Do you want them to buy the product, visit your website, follow them on social media, visit your store? Knowing what you want the customer to do after watching the video production narrows the options you can do and makes the video production cost work with what the customer wants.
  4. Do you have a concept, a script, or do you need help with those? 
    1. Knowing whether concepting and /or scriptwriting is necessary affects the pre-production costs.
  5. Do you have talent, or can we help you cast talent? 
    1. CRM has personal relationships with voice talent, actors, and musicians. We can help our customers get the professional talent they need.
  6. Would we shoot on our soundstage, or at your location? 
    1. Shooting on our stage allows us to use our equipment in-house. Moving the equipment to a location means crews, transport, logistics. Also, knowing where you want to shoot helps us better understand what they want out of their production.
  7. Would you like us to create an animation of your product or logo to add value to the video? 
    1. CRM can produce a 3D animation of your product or logo. This may increase the video production costs, but the value added by the effects helps the audience better understand and remember your message.
  8. Do you have existing videos that we can see as a reference? 
    1. Seeing what you have produced in the past helps CRM understand many things — where you get inspiration, what stimulates their interest in your opinion, and what style and tone of video you prefer.
  9. When would you need the video to be completed? 
    1. Knowing the timeline helps our scheduling the stage and organizing which of our people will work on the project and when each will be needed.
  10. Do you have a budget in mind for the project? 
    1. There are lots of ways to create a video message, and the costs can vary greatly. You may be an old pro at video production and know exactly what your budget should be. But let’s avoid budget misunderstanding and get expectations out in the open.

Video Production Cost Guides

Here are different types of videos and the estimated production costs of each: 

  • Short videos for Social Media
    • About 10 seconds each.
    • Costs: $1,200-$2,000. 
  • TV Commercial (broadcast or online)
    • Requires crew, studio time, red camera shoot, casting, create animation, scene. 
    • Costs: $3,000 to $30,000+. Depending on the length and features in the video.
  • Marketing Video 
    • A simple video can use stock footage and voice-over, a full shoot can include a range of equipment and crews to work those.
    • Costs: $5,000 to $15,000+. Depending on length and features in the video. 
  • Training Video
    • Training videos are usually used internally, so video production does not need to have as many features as a video used for external use.
    • Costs: $3,000 to $12,000+. Depending on length and features in the video.

Each video requires different elements, and video production cost varies from project to project. CRM is mindful of the budget of each customer. If you have any questions or need a bid, please complete the form below and we will respond promptly.

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