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Multimedia is such an effective medium to introduce a concept or subject succinctly. An explainer video is a short marketing video online that one utilizes to explain and promote a company’s product or service.
Now, in order to get the benefits of an explainer video, it is important for you to maintain the quality of the video. The quality of the video depends upon the cost of production of the video as it determines the whole project and how far you can evaluate it.
Through this article, you will get to know how much does an explainer video cost? And what are the factors that cause fluctuation in determining the cost?
How Much Does an Explainer Video Cost?
The first thing that comes into mind while producing an explainer video is how much does an explainer video cost?
As the entire procedure of the video is circled around the cost of it. A well-produced explainer video combined with an effective marketing strategy, definitely it for itself in the long run a lot more than the investment.
It is important to understand that a bad video will never result in good results as it is just like a fishing rod without a hook, it always catches nothing, no matter how long you wait on it.
A typical cost range of a good-quality explainer video is between $1,500 to $2,500 which can vary depending upon different choices and factors. The main cost of analyzing things include the complexity of the project, length of the video, animation style, production company, and many other factors.
When it comes to the cost of an explainer video there is no such thing as one-fits-all because every video differs from each other and also the priorities of the video maker.
- Some explainer video production companies only have costs as little as $650 for a 60 second video.
- On the other hand, video production can also cost over $70,000 which means it all depends on what you prefer and choose.
- he state of video marketing survey has shown that in 2018, more than 80% of videos now use video production as one of the main aspects of their marketing strategy and about 84% claimed that they are planning to increase their explainer video production cost.
There is another important thing that one needs to understand having a low or average does not mean that you will end up with a low-quality video. Likewise, if you have the highest budget, it does not mean that you will end up with a video that will cost you 10x profit.
As, what matters is how you manage your budget, and how much creativity you put in to increase the quality of the video. So, not only does the price matter, but the decisions you make also determine the profit of your video.
Factors that Affect the Cost of an Explainer Video
An explainer video is formulated with a combination of various elements that indicates that the cost of the video is also influenced by some factors.
When you break down each factor that contributes to the explainer video cost, you have much more control in composing an overall good price amount for your video. Following are some of the factors that affect and define the cost of an explainer video:
Animation design is a crucial factor of an explainer video as it measures the complexity of the project processing. There are 5 different types of animation designs that cost differently for an explainer video.
It is a process of creating animations and illustrations on the whiteboard. It is one of the most affordable animation mediums for an explainer video.
2- 2D or 3D animation
2D animation is about moving objects or characters linearly in two-dimensional space while in 3D animation complex object rotations, turnings, and twists in three-dimensional space happen. 3D has a high price than 2D animation which is quite reasonable according to their features.
3- kinetic typeset
Kinetic typeset defines by animating text and various kinds of typography. The cost of this animation is very moderate.
4- motion graphics
Motion graphics are computer animation with graphical elements rather than characters. The price of this animation depends upon the complexity of the graphics.
The price range starts from low to premium so you can choose from quite a lot. There are various motion graphic services that can provide you with the product you want.
5- stop motion
Stop motion is an animated film-making tool in which objects are physically manipulated in which objects are physically transferred into small increments between photography frames to show motion. It is the animation style that cost the most.
We often heard that time is money but it has a particular meaning when it comes to the cost of production of an explainer video. Typically, the length of the video is one of the most significant factors that determine cost.
It is obvious that the longer the video, the higher will be price. Modern production tends to go micro when it comes to the longevity of the explainer video. The micro-video is under a 2-minute period and it attracts more audience which is very profitable for you.
It is important for you to keep the video short and not necessarily too long prominently in seconds, the best period is below 90 secs. More overly, having a short-length video will directly mean less cost.
The quality of the video
The quality of the video is very important to consider while you are planning on determining the cost of the explainer video. Now, having a good quality video means that you have to add more effort to each and every step precisely so that everything turns out great.
Increasing the quality of your video definitely means that it will push you to spend a little more than a usual or moderate cost.
But it is also noticeable that the audience appreciates those videos more than high in quality and exceed their expectations. So, there is no harm in adding a little more money in order to get the best quality videos.
Customization is an additional step when it comes to an explainer video. It is all about doing custom changes or modifications in the video to make it even more personalized to the audience which creates a sense of connectivity between you and the viewer.
Adding customization will require you to spend money but it all depends upon you to whether add them or not.
In a Nutshell
An explainer video is a powerful tool in today’s modern world particularly when it comes to business advertisements and marketing strategies. The cost of the explainer video is the most important term when it comes to producing a video.
First of all, there is no such concept that one size fits all, so the cost can vary distinctly from person to person or company to company. It is quite efficient to do proper research on different kinds of explainer videos and different explainer video production companies before sticking to one.
This will help you to decide on cost productions for the video that you require while being smart and not spending more or less.