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BUSINESS VIDEO MASTERCLASS

LEARN HOW NOT TO GUESS

BUSINESS VIDEO MASTERCLASS

LEARN HOW NOT TO GUESS

MASTERCLASS | STRATEGY | ESTIMATING COSTS FOR A SERIES OF VIDEOS

PART 4 - BUILDING YOUR FUTURE VIDEO marketing PLANS

Estimating costs for a series of marketing videos

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To a point, costs are anybody’s guess, as the level & quality of video production available varies a great deal.

You can buy a video for as little as a $100 on Fiverr.

On the other hand, I know of one banking sector client who paid £40,000 for a single intro video. I guess you pays your money and takes your choice.

As a guide you can expect to pay £1,000 – £1,500 GBP per runtime minute for high end work, designed to impress at C level in a large organisation.

If you’re not sure then take a look at some of your clients’ videos to get an idea of the video standard they expect.

Budget videos come in around £500-£700 per minute.

Tutorials cost less than this.

DIY videos like Lumen5 or Toonly will save you big time if you have the resources and talent in-house to make them yourself.

Fiverr’s even cheaper with a large selection of overseas freelancers. My own clients who've used them tell me not to expect any helpor suggestions. You provide the finished script and any other ideas you have, and they deliver to your spec. You get what you're given. Any last minute changes will probably push up the cost - which might be fine if you plan for it.

Here’s a blog I wrote after researching over 100 video vendors’ prices & rates.

To go the distance you’ll need 30-60 minutes of video, and this is maybe even without tutorials.

With these orders of cost in mind, you can probably plan your video budget accordingly.

Marketing & Training video products price list

VIDEO PRODUCTS PRICELIST

Marketing video prices here

Safety & Training video prices here

Exact prices for all standard runtime videos
Start making accurate plans

Quick tip: I repeat this from earlier on, but you’ll get a better contract price ordering, say, 6 videos at once, than by buying one video to “suck it and see” with a promise of more to come.

All video production companies have stories to tell where they’ve been taken in with “big video contract promises” before.

Only a rookie video maker will be impressed by future promises designed to make them lower their current price.

The biggest cost mistake every planner makes

Underestimating the total runtime of your videos is the biggest, most common mistake.

It gets you started completely on the wrong foot.

I see this all the time. I’m not exaggerating here.

Clients say to me, “I need 5 x two minute videos to do such & such”.

But when I look at the actual detail of the content they require, I find they’ve underestimated, often wildly.

When I tell them this, they’re often surprised or disbelieving.

Solution: Calculate your total runtime required based on some real analysis of actual content, like a word count of existing docs.

Allow 125 words per runtime minute as a rough guide.

Don’t guess. You'll probably be wrong.

Word count estimating for accurate video runtimes is all explained earlier in the Planning section of this Masterclass.

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