By Mike Britton, Executive Vice President – BTP Media
In my previous blog post we discovered a quick way to determine which type of ecommerce video is right for your particular company and product – either Lifestyle/Aspirational, Branded/Informational or Product Feature and Benefit.
After determining which type of video is best for your particular situation, the next question I usually hear is, “How much will each video cost?”.
Now, I can’t give you an absolute number because every production has its own nuances that need to be taken into consideration, however I can share with you a price range based on a wide variety of research that should get you into the ballpark. Remember, this might not be exact, but you can use it as a baseline when budgeting or comparing pricing between video production companies.
OK, here we go. First let’s tackle the most straightforward video type and the style that usually offers the highest return for your investment, the Product Feature & Benefit video.
As a reminder, this type of video has the following characteristics:
|Feature Oriented Message Highlighting Benefits|
|Simple, Plain Background|
|15 to 60 Second Length|
|Product Focused with Hand Model for Demo|
|Scripted Voiceover with Text Overlays|
I’ll break this down even further into three sub-categories: Small/Tabletop Products; Medium Products (50 pounds and under) and Large Products (51 pounds or heavier). Based on this breakdown you might presume that the size of your product has a lot to do with the video cost, and you’d be absolutely correct. Larger, heavier products simply take more time to produce and time is money.
In addition, the total number of products/videos per production also has an impact on the cost.
So, based on the above parameters here’s what you could expect to pay for your Product Feature & Benefit Videos.
|Product Feature & Benefit Videos|
|Small/Table Top Products||25 to 50 products/videos||$500 to $600 per video|
|Small/Table Top Products||51 to 100 products/videos||$400 to $500 per video|
|Small/Table Top Products||100+ products/videos||$200 to $400 per video|
|Medium (50 lbs and under)||25 to 50 products/videos||$600 to $700 per video|
|Medium (50 lbs and under)||51 to 100 products/videos||$500 to $600 per video|
|Medium (50 lbs and under)||100+ products/videos||$400 to $500 per video|
|Large (51 lbs and heavier)||25 to 50 products/videos||$700 to $1,000 per video|
|Large (51 lbs and heavier)||51 to 100 products/videos||$600 to $900 per video|
|Large (51 lbs and heavier)||100+ products/videos||$500 to $800 per video|
Next, let’s look at pricing for Branded/Informational Videos. This video type is more subjective than a Product Feature & Benefit Video, therefore the price range is broader. Again, as a reminder here are the characteristics for this type of video:
|Benefit Oriented Message|
|Location or Functional Set|
|No More than 45 Second Length|
|Branded Elements with Utility Actors for Demo|
|Scripted with On-Screen Talent or Voiceover|
Elements such as Location, Set, and On-Screen talent will significantly vary the cost per video so you’ll add those actual expenses to the base production price to determine the final price. Also, the size of the product and the number of products/videos per production doesn’t have as much of an impact on the final price as with Product Feature & Benefit Videos.
So, based on the above parameters, here’s what you could expect to pay for Branded/Informational Videos.
|Base Production||Minimum 10 Videos||$1,000 to $1,500 per video|
|— PLUS —|
|Set||Cost per Production||$1,500 to $3,000|
|Location||Cost per Day||$2,000 to $5,000|
|Actors||Cost per Actor per Day||$800 to $2,000|
Finally, on the other end of the spectrum is the most subjective and the most difficult to offer a ‘general’ video price – the Lifestyle/Aspirational Video. Due to the number of variables associated with this type of production, the price range of these videos varies widely. Usually these are one-off productions and the size of the product virtually plays no part in the final cost.
Here are the characteristics of this type of video:
|Brand Oriented Message|
|Location or Detailed Set|
|10 to 30 Second Length|
|Highly Stylized with Motivational Actors|
|Very Little Dialogue|
This type of video can range from $10,000 to $150,000 per video or even higher depending on the number of creative elements that are needed. So, I’d recommend that you get several quotes, ask a lot of questions and choose wisely.
I hope this pricing overview was helpful. Please remember that these are ballpark numbers and your specific situation might be different.
So now that you know what type of video will work best for your product and you have a ballpark video price, the next step is to choose either a production company or try and produce them internally within your organization. My next blog will discuss the pros and cons of in-house production and share with you what to look for and what to avoid when working with a production company.
Also, if you would like a complimentary analysis of your specific product line or video program and a firm pricing quote, just reach out at email@example.com.
Until next time….