One of the first questions that we typically get when working with a new corporate client is "how much is this corporate video going to cost?". While no two corporate spots are the same and all have different requirements (some are more commercial based, some formatted for web, etc.), generally this type of work falls into three categories.
Below is a breakdown of three different categories that the vast majority of our corporate and commercial work falls into. As a business owner or marketing professional, it's important to have these budget categories in mind when considering a corporate spot so that you can help to streamline your process:
Low Budget - Under $3000
This is the most common budget range for most small business owners, especially those getting video work done for the first time. The cost covers all of the basic necessities of any production: concept development, pre-production, production (crew expenses, rentals, talent, etc.), and post production costs (editing, stock material, music, etc.). Even on a smaller scale production such as one that would fall under this budget range, a lot can be done to produce an extremely high quality and effective final product. In fact, sometimes the challenge of working with less budget is actually helpful creatively, as it creates limitations that can help to focus the creative direction of the project.
Medium Budget - $5000 - $15,000
The next step up are the mid-sized projects that are most often requested by business owners or marketing directors that have had videos produced in the past and understand how dramatically video can help their sales. Projects that fall into this category include all of the basic development and production necessities that are covered in the low budget category, but build upon them further by offering more development time, a larger crew with additional support equipment (for higher production value), and more time spent in the editing room on motion graphics, custom titles, and original music. Projects at this level start to have a lot of longevity as the added production value makes the piece stay current for longer, and allows it to transcend mediums and be dual purposed (for web and television for instance) at the clients discretion.
High Budget - $25,000+
Our more seasoned and experienced clients will often opt for a higher budget production for a number of reasons - but primarily because of the potential to reach such a large audience when working on a project of this scale. While a low budget or medium budget project can still have very high production value, on a higher budget project, additional time is spent developing a release strategy for the corporate spot to ensure that it gets seen by the most amount of targeted viewers. At this level, we place a premium on the campaigning of the spot, so that for example, if our clients goal is to dramatically increase traffic to their website, we will craft the idea and release strategy around that specific goal to ensure that we drive substantial amounts of potential customers to their website.
Which Is Right For Your Business?
This largely depends on what is affordable for your business and what your goals are for the video. Many of our clients have started out by producing videos in the low budget range, and after seeing dramatically increased sales or traffic to their websites, they have opted to invest more in their projects, eventually working up to the higher budget range. With that said, we also have had clients that have opted to produce a medium or high budget project for their first video, as they recognized the value of investing in other aspects of the process as well.
There is no right or wrong way to produce a corporate spot, and no perfect budget that suits every project, but investing in a corporate video of any scale will inevitably have a much larger affect than not investing at all.
For more information on what we do, or if you have any questions about what a corporate video might cost for your business or brand, please contact us at any time. We are located in Los Angeles and Toronto, but also service many other markets all across North America.
The Creative Rebellion Team