86% of businesses use commercial videography as part of their marketing strategy. It’s a content type that’s famed for its ability to engage record numbers of consumers, but how much should you expect to pay for commercial videography in 2022?
To provide an answer we’ve looked at some of the main factors influencing the cost of commercial videography today, so you can better understand where your money is being spent and how to calculate the ROI you’re receiving.
What is Commercial Videography?
Commercial videography refers to any video a business uses to engage clients or raise awareness of its products and/or services.
Common examples of commercial videography include:
• TV advertising
• viral videos on content sharing platforms such as YouTube and social media
• product explainer or instructional videos
• customer testimonials
• corporate or brand positioning videos
Videography Cost Factors
The cost of commercial videography varies dramatically and is influenced by a number of factors, including:
Scriptwriting and storyboarding
Scriptwriting and storyboarding are the foundation of any commercial videography. Between them they define what your video is about, what the content will be, and the key messages you’re looking to relay. They provide your video with a structure and act as a blueprint to ensure you’re capturing the footage you need.
Whether it’s to deliver a message to camera or look busy in the background, actors serve all kinds of purposes in commercial videography. Even if you’re shooting a product explainer video, you may still need actors to engage with the product and show consumers how it works. Likewise, if you’re promoting a new restaurant, you may hire actors to play customers, so it appears busy.
Voiceovers, soundtracking, on-screen captions, and translation/dubbing
Every video needs sound, whether that’s a musical score or narration provided by a voiceover. On-screen captions are also recommended to accommodate those with hearing difficulties and audiences who consume video with the sound off. You may also need to factor in transcribing your video into other languages if you plan to release it in territories where the video’s origin language differs from that spoken locally.
Crew, location, prop, and equipment hire
The equipment and crew needed to produce your commercial videography all depends on the production value. At least one camera and operative is a must-have, but you might also need lighting, a director, stylists, and sound technicians to achieve your vision. Another potential outlay is location. Whether it’s a studio with a set or an actual location like a house, you’ll need to factor in the hire cost, plus any props you might need.
Finally, you’ll need to leave room in your budget for post production editing. This involves all of the raw footage you’ve shot being professionally edited into sequence. It’s also at this stage that any soundtrack or voiceover is added, together with any special effects or on-screen graphics, such as your company logo and contact details.
The True Cost of Commercial Videography
Taking all of the cost factors into account, the true cost of commercial videography in the UK is estimated to be around £1,000 per minute in 2022, with an average starting price of £3,000 for a professionally scripted, shot, and edited video.
Even at that price, commercial videography delivers incredible ROI, providing an asset you can use limitless times to engage, educate, and convert consumers to your business.