Introduction
In today’s competitive market, a promotional video is one of the most effective ways to communicate your message, engage your audience, and ultimately drive business growth. From promoting a new product, building brand awareness, or sharing a customer success story, video content has the power to capture attention, enhance engagement, and convert leads into loyal customers.
However, for many businesses, particularly those new to video production, the question of cost is often a major concern. How much should you budget for a promotional video? What factors will impact the price? Is the investment worth it?
At Wenimate, an explainer video production agency, we’ve helped businesses across a variety of industries, including fintech explainer videos, craft compelling videos that resonate with their audiences. In this blog, we will walk you through the various factors that contribute to the cost of producing a promotional video, the different types of promotional videos available, and what businesses can expect to spend based on these variables.
We will also dive deep into some of the most important considerations that can either increase or decrease your video production costs and how video production and video marketing fit together in a comprehensive strategy.
Key Factors for Promotional Video Production Cost
The first thing to consider when determining the cost of a promotional video is understanding the multiple factors that contribute to the overall price. A basic video with minimal production values will be less expensive than a high-end video with advanced animations and intricate post-production elements. Below, we’ll outline the key factors that influence promotional video production costs.
1. Type of Video
The type of video you need will be one of the most significant determinants of cost. Different types of videos serve different purposes, and the complexity of the production will depend on the style of the video. Below are some of the most common types of promotional videos and what you can expect to pay.
Explainer Videos
Explainer videos are short, engaging videos that simplify complex topics or explain how a product or service works. These videos often use a combination of animation, voiceovers, and on-screen text to break down concepts into bite-sized pieces of information. As explainer videos are particularly popular among SaaS, fintech, and tech companies, it’s crucial to account for this in your budget.
A fintech explainer video may require custom animation to visually represent data, graphs, and statistics, which can drive up the production cost.
- Basic Explainer Video: $3,000 to $8,000
- Advanced Animated Explainer Video: $8,000 to $15,000
- Custom Explainer Video with Unique Visuals: $15,000 to $25,000
Client Testimonial Videos
These types of promotional videos capture real customers or clients sharing their experiences with your product or service. They are highly effective for building trust and providing social proof.
- Basic Testimonial Video: $2,500 to $5,000
- Multi-Customer Testimonial Video: $5,000 to $12,000
Product Demo Videos
Product demo videos show your product in action, highlighting key features and benefits. These videos can vary in complexity depending on whether you want a basic demonstration or a more detailed, cinematic showcase of the product.
- Basic Product Demo Video: $2,500 to $6,000
- High-End Product Demo Video with Multiple Locations or Actors: $6,000 to $15,000
Brand or Corporate Videos
A corporate video can include a broader narrative about your company’s mission, vision, and values. These videos often use a combination of live-action footage and animations. Since they can be more elaborate, they typically require a larger production budget.
- Basic Corporate Video: $5,000 to $10,000
- Premium Corporate Video: $10,000 to $25,000
Social Media Ads
If you’re looking to create a short, punchy video for social media platforms like Facebook, Instagram, or LinkedIn, these promotional videos are typically short (30-60 seconds) and focus on grabbing attention quickly.
- Social Media Video Ad: $2,000 to $7,000
2. Production Quality
The overall quality of your promotional video is directly tied to the production budget. Higher-quality videos require more advanced equipment, higher-skilled professionals, and more intensive post-production. The cost of the video will increase based on the level of production quality you want.
Basic Production Quality
A basic video is relatively simple in terms of the shooting and editing process. It may involve using a basic camera setup, minimal lighting, and editing software. These are generally the most affordable videos you can produce.
- Cost: $2,500 to $5,000
High-End Production Quality
If your promotional video requires advanced filming techniques, professional lighting, high-end cameras, and professional-grade post-production editing, the cost of production will increase significantly.
- Cost: $8,000 to $50,000
3. Length of the Video
The duration of your video will have an impact on the cost. The longer the video, the more footage, editing, and post-production work will be required.
- Short Videos (30 seconds to 1 minute): These tend to be more affordable, with costs ranging from $2,500 to $6,000.
- Longer Videos (2 to 3 minutes): Longer videos typically require more production time, with costs ranging from $6,000 to $25,000.
4. Scriptwriting and Storyboarding
A promotional video is only as good as the story it tells. Whether you are using a white-label video production service or an in-house team, the script is a critical part of the process.
- Scriptwriting Costs: Professional scriptwriters charge $1,000 to $3,000 for a detailed script. If you need multiple drafts or extensive revisions, this cost could increase.
- Storyboarding Costs: Storyboarding helps visualize the video scenes before production starts, which can be crucial for complex videos. Storyboards typically cost between $500 to $2,000.
5. Animation and Motion Graphics
Adding motion graphics or animations to your promotional video is an effective way to illustrate complex ideas or products. Custom animation can be quite expensive, depending on the style and the number of scenes.
- Basic Motion Graphics (2D): $3,000 to $8,000
- Advanced Animation (3D): $8,000 to $20,000
6. Voiceover and Music
Professional voiceovers and music help set the tone of the video and ensure it’s engaging. You may opt for a voiceover artist or use a pre-recorded voice, depending on your needs.
- Voiceover Talent: $200 to $3,000
- Custom Music Composition: $1,000 to $5,000
- Royalty-Free Music: $50 to $500
Cost Breakdown by Video Type
Explainer Videos
Explainer videos simplify complex ideas and can be used for product demonstrations, educational content, or to explain a service. Whether it’s a fintech explainer video or a generic product explainer, the production quality will dictate the cost.
- Basic Explainer Video: $3,000 – $8,000
- Advanced Explainer Video: $8,000 – $15,000
- High-End Custom Explainer Video: $15,000 – $25,000
Client Testimonial Videos
For companies wanting to highlight customer satisfaction, a client testimonial video is a great option. It builds trust and provides social proof that your product or service delivers results.
- Basic Testimonial Video: $2,500 – $5,000
- Full-Scale Testimonial Video: $5,000 – $12,000
YouTube Ads
A YouTube ad must quickly capture attention and drive action. Simple, impactful ads are highly shareable and cost-effective, but creating a highly polished ad can increase production costs.
- Basic YouTube Ad: $3,000 – $7,000
- High-End YouTube Ad: $7,000 – $20,000
Product Demo Videos
These videos demonstrate the features and capabilities of a product, showing how it can solve a problem for the target audience.
- Basic Product Demo: $2,500 – $6,000
- High-End Product Demo: $6,000 – $15,000
Corporate Brand Videos
A corporate brand video presents your company’s story, mission, and values. These videos are typically used for larger campaigns and can be a key part of your brand identity.
- Basic Corporate Video: $5,000 – $10,000
- Premium Corporate Video: $10,000 – $25,000
Further Considerations
In addition to the key factors mentioned above, here are some additional considerations that could influence the cost of your promotional video.
Location and Talent Costs
If your video requires filming at different locations, or if you need to hire talent (actors, voiceover artists, etc.), this will significantly increase your production cost. Travel, accommodations, and location fees must be accounted for.
Marketing and Distribution
Creating the video is only half the battle; promoting it is equally important. Whether you’re investing in video production and video marketing through paid ads or SEO efforts, distributing your video across various platforms requires an additional budget.
Examples of Great Promotional Videos
Supahub
Supahub’s promotional video is a great example of how a well-produced explainer video can break down complex technology and make it digestible to a broad audience. With clean animation and clear, concise messaging, the video engages viewers and effectively communicates the product’s value proposition.
Monday.com – Client Testimonial
The Monday.com client testimonial video is an excellent example of how customer stories can be used to drive trust. The video production is simple yet effective, showcasing how the platform helps businesses work smarter.
Doks.AI – YouTube Ad
This YouTube ad uses engaging visuals and a clear call to action to entice viewers to learn more about the AI-based solution. The video’s production quality is high, and it aligns with the company’s brand message.
Wix – Think It. Create It.
Wix’s promotional video combines beautiful imagery with a motivational message, inspiring viewers to create their websites. It’s a perfect example of how to use video marketing to capture attention and drive conversions.
Grammarly – Write Your Future
The Grammarly promotional video is one of the best examples of how video can be used to demonstrate a product’s power while also speaking directly to the viewer’s needs and desires. The messaging is clear, and the visuals are striking, effectively communicating the brand’s value.
