If you're buying corporate video production services for your next marketing campaign, it's easy to get lost comparing quotes.
Every video company has different ways of pricing, and it's hard to compare like-for-like, other than by looking at the bottom line, which can be misleading.
The instant answer is to look at the Quality and the Runtime you want
- because that's how video companies produce their quotes
- based on Quality and Runtime.
How to compare video prices
To see through the maze of video quotes we've developed this simple reckoner.
It's based on:
- the editing daily rate of the video studio
- the final video quality or standard you're looking for
- the length of your video, its runtime
Knowing these 3 figures enables you to compare quotes and understand what you're being offered.
1 - Editing daily rate
If you ask your video studio to show their editing day rate in their quotation to you, you can fairly easily see the difference between video production companies.
For example, Studio A might charge £600 per day for editing, while Studio B might only charge £200 per day.
Takehome: Know the core day rate for editing
2 - Comparing video quality
You might say the only way to compare video quality is to look at the video samples your prospective supplier sends you?
Not quite true.
You need to know how much video a skilled editor can produce in a day.
Here's a guide:
- Best work is output at 30 seconds runtime per day
- Middling work is output at 1 minute per day
- Budget quality work is output at 2 minutes per day.
The above figures are contentious and every editor will scream loudly in contradiction.
And it doesn't take into account any filming you require. Or the creative design costs.
Nonetheless I believe the above pattern largely holds true.
Takehome: Ask the editor how many runtime seconds a day they can output.
3 - The length of your video
The longer the video the more it costs.
If you're buying corporate video production services, then you need to know how long you want your video to be.
Most corporate buyers are guessy here, and say "Oh .... 2 or 3 minutes, nothing too long".
But the price difference between a 2 minute and a 3 minute video is substantial.
If you don't know how long your video needs to be, try writing a trial script - a quick rough of what you want to say.
Then count the words.
100 words of script - 1 runtime minute of marketing video.
So if your trial script is 350 words long, then your video is 3.5 minutes long.
Takehome: Calculate how long you need your video to be. Don't guess.
Getting the best value video production deal
If you onboard the above pointers what you'll see developing is this:
1 - You'll know more or less how long you need your video to be - which dramatically affects the price.
2 - You'll know how long it takes to edit your video production. High quality video needs 30 seconds per day of editor time, while lower level production requires less editor time.
3 - You'll also know the day rate of the studios who are quoting you.
Analyse any corporate video quote using the above 3 tools, and you'll be able to see:
- which video company is offering you the best deal for the quality & runtime you require
- how their core pricing compares with others offering the same quality
- how to get the length of your video right in the first place, so you don't buy too much.
Buying corporate video production services can be a minefield.
But it doesn't have to be.