Explainer videos are like sweet wine; their costs depend on what goes into their production. Factors such as video length, quality of pictures, and the turnaround time are critical in determining an explainer video pricing. Of course, the reputation of the production company has a role to play. There are some companies that may charge you as low as $700 for a 60-second video. Others will charge you as high as $72,000 for the same video.
To make things rather interesting, there are DIY platforms which help you to make your own explainer videos at a monthly subscription plan. You can pay as low as $9/month on the platforms. Nonetheless, you have to prepare to handle the hard parts like content conceptualization, writing the script, video recording, and editing. You’ll need the experience to handle these tasks. If you don’t have any, then it’s smart to hire someone to do it on your behalf.
What’s clear though is that a great explainer video can be the key for turning your business into an instant success. According to the State of Video Marketing, 85% of online businesses consider explainer videos to be the basis of their marketing campaign. The videos are able to give them a better ROI. Nonetheless, you have to know what kind of explainer video suits your audience. The video type dictates the pricing as seen below.
1. Pricing for Animation Explainer Videos
Animation videos are known to be effective in capturing the attention of the audience. A lot goes into their production and this makes them a little costlier. On average, you’ll spend $7,972 on a 60-second video.
2. Pricing for App Preview Explainer Videos
An app preview happens to be the cheapest explainer video style because it doesn’t involve a lot of things in its production. On average, you’ll spend $2500 for a 60-second video.
3. Pricing for Live Action Explainer Videos
Live action videos give your marketing campaign a professional approach. They are illustrative and great at convincing the audience. On average, you’ll spend $5000 on a 60-second video.
4. Turnaround time
Turnaround time is another important factor that can impact the cost of an explainer video. Many agencies will charge you more if you want the video to be produced faster. To cut cost, therefore, it is advisable to be patient when hiring an agency to make for you a creative video.
Clearly, an explainer video pricing may vary from company to company and from video style to another. In the end, what matters is creating an explainer video that suits your target audience — one that increases the conversions.
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