How Much Does a Video Cost?

Get Coached - How Much Does a Video Cost? (Episode 58)

video marketing podcast May 21, 2021

Welcome to 'Get Coached', the Video Marketing Legend podcast segment where you submit your video marketing questions and Chris will help coach you through them.

In this first episode, Chris Schwager, Video Marketer from Ridge Films, will reveal the cost of producing a video. Know what to expect with a $1K, $10K, and $100K as price points and find out why video marketing should be considered as an investment rather than a cost.

 

 

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Episode Transcription:

 

Welcome to Get Coached the video marketing legend podcast segment where you submit your video marketing questions at www.ridgefilms.com.au/question, and I'll help coach you through them. By listening in each week you'll learn how each video marketing problem is solved, giving you the knowledge that will make your videos more valuable. And so you come across as a true professional on the open market.

I'm your host, Chris Schwager. Alright, today's Get Coached question was submitted at www.ridgefilms.com.au/question and it's from Tony. And what Tony wants to know is how much does a video cost? And this is a fantastic question, because we all want to know how to budget for videos, and what we're going to get out of them.

So this is what you need to know. First, Tony $1500, that is the starting point for professional video marketing. Now say that because that's our starting point, okay. But I say that also because I want to give you a direct response as quickly as possible. But I also want to give you some context, and I say $1500, because that'll get you a personal profile video. If you go to Ridge Films, I'm not trying to sell you anything, but get to ridgefilms.com.au. And go to the products tab and you'll see the personal profile video product, and you'll see what you get for your money, that's really great value. And it's a little startup entry point to professional video marketing.

And probably at the top end is around about the $15000 mark for professional video marketing, right. So that's probably a pretty accurate range. And if you took the average of around about 7k, that would be indicative of probably the national average is still probably 7000 for a professional video. Now we've got lots of variables. So what I'm going to do to make things easier for you, is give you three price points and roughly what you could expect to get for those three price points.

So let's assume you have $1,000 $10,000 and $100,000. Okay, so for $1,000 Tony, you don't really get a look, you don't get a start in the world of professional video marketing, you could probably barely get a cameraman to come out and film for a day for $1,000. Okay, so what you need to do with your $1,000 is you could go and invest in some low grade low end, sound lighting camera and do it yourself, take some short courses, learn some basics and have a crack at it. Okay, we don't recommend it. We think if you've got 1000, you can get 1500.

And by getting 1500, you can understand what the process is all about through something like a personal profile video, where you understand scripting on camera training, filming makeup, the editing process, and implementing into your site and even measuring the results. Right. So that's all included. This is like a startup entry offer that is there. And it is available. And it's a really great eye opener for many, many people that are just starting into the world of video marketing, right.

But for $10,000, the game changes Tony, it changes in a big way. Because start talking about a single video for $10,000, which would be polished, it would be great, you'd have everything you'd have talent you'd have on location filming studio filming on camera training, you'd have pretty much everything right. But if you wanted to leverage your asset, then you've got some exciting propositions happening, because you could do a company profile, for instance, around the 5k mark, and a bunch of other shorter videos, smaller videos, less produced videos, that will give you a lot of leverage across your business.

So for instance, for 10,000 a client might spend some of that on a company profile video, which they can leverage for literally five plus years. And we guarantee that for three plus years, right, so it's gonna give you up real good life span, a website video loop. And you might have noticed those when visitor hits the website and this some moving video in the background of their web page, some service overviews, maybe even a testimonial or whatever.

Okay, so it all really depends on your specific needs. But my point is over, say a year, you could get a lot of different videos working for you year on year. Now let's talk about $100,000. Because this is a game changer. It's very much an enterprise type of arrangement. $100,000 a year, gets an organisation really access to a full integrated sales and marketing video pipeline of regular content continually streaming out to the market, right. So this is pretty much everything that you really need. And 100,000 is more than enough for a company to heavily invest in get their whole organisation really into the world of video marketing.

We think that is the future for enterprise size clients. Because when you think about the scalability of video, the fact that you can create it once and distribute it many. It gives you a whole bunch of leverage within the organisation that I think is quite frankly underestimated right now. It's underestimated in this country, the power of video in this way. People still thinking of it as a cost the thinking of it, as, you know, shoot once and then what does it do, they don't see the long term benefits of video right now. And that will change over time.

And I think if you're looking at investing right now, I think this is a perfect time to start to understand it, understand the process, because COVID has changed the landscape for so many people. So $100,000 really gets you access to your prospective buyers in a human way, within video, leverage your time leverage your ability to get out to your market, and then you you know, because if you've got a larger organisation, then you're talking about putting all of your people in some way to the market as well. And that is definitely something that's very unique. And it's a game changer, it really does video can provide so many benefits to the market for sales purposes for marketing purposes, for training, internal comms, I mean, it really is an ability to leverage people's time, and also be there without being there.

But I think the number one benefit to video, as I always liked articulated is that it's communicating faster, and more concise than human. So once you do the production, you really after that, if things haven't changed, that video should be giving you a long lifespan thereafter. Some of our clients have got videos for five plus years, because they've been able to leverage it over the long term. So that's 1000 10,000 and 100,000. When prospective buyers need us, they see the potential in video not as a direct cost of the business but more of an investment. And we drum home to them immediately how they can skin it and repurpose it and leverage it for years to come. And that's what spending more money I guess on video marketing gives you It gives you leverage it gives you scalability, do more things in a shorter period of time.

Can I just add one more thing if you want to learn how to convince decision makers in your business through this go to ridgefilms.com.au/convinceyourboss download our guide. We can also give you an ROI calculator so you can actually see what the indicative return on investment might be for the future.

We're always helping the business community become better video marketers. So got a ridgefilms.com.au/convinceyourboss download and we'd love to help you convince your boss and Tony, thank you so much for asking your question. We know that video marketing can seem overwhelming. And knowing how much a video costs can seem overwhelming. But if you use this method that I've coached you through, then you'll know how to budget for videos and what you're going to get out of them. And I'm sure it's going to give you peace of mind and really help with what you're looking for in the first place something to help you know how to budget for videos.

And for everyone else out there trying to solve the mystery of the marketing your business what has you feeling overwhelmed? on Get Coached we're here to help you through it. Just submit your video marketing question to ridgefilms.com.au/question. For your chance to get coached by me just go to ridgefilms.com.au/question and thanks for listening

 

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