1. Where is the customer in the buyer's journey
There are 3 stages in the buyer's journey: awareness, consideration, and decision. Each video is created in accordance with the stage at which the target audience is currently located.
There are 3 factors that determine the complexity of the video, the stage of the buyer's journey, the maturity of the industry, and the type of business.
For example, whiteboard animation will work well if used in the B2B awareness phase. In contrast, cartoon-style video is better suited for the B2B decision phase, as this step requires a video that celebrates your company's products and services and provides detailed insight.
B2C companies demand videos that engage the audience with interesting characters and stories. An example of this is video reviews.
2. Animation style
The animation style you choose for your video will be key to determining the cost of the video. Whiteboard and infographic videos are budget options, while cartoon-style videos require a significant amount of money.
2D animated videos are more expensive because the animators create custom 2D characters for each video.
Each style of animation serves a different purpose, for example, a cartoon-style video is used when you want to tell a story or want the audience to relate to it (character movement helps them be understood).
On the other hand, whiteboard animation is used when you want to display a written message or want the audience to feel like they are included in the creative part (whiteboard animation is used in a drawing style).
3. The complexity of the topic
Complex topics require more time to study and gain a deeper understanding. This increased research time adds to the pre-production cost.
This is because it takes time to create scripts that break down complex topics into simple and understandable forms.
4. Content duration
The length of the video affects the cost of production, but there is one thing you should pay attention to. The 2nd minute of the video will not cost the same as the 1st minute of the video. This is because assets such as characters, props, and backgrounds have already been created.
5. Types of Video Pricing Options
You have 4 options to decide who will create the 30 second animation for you.
- Online video and animation creators ($50-$500)
This option is relevant if you have a limited budget. This will give you access to videos and some useful tools, but you will have to script the content yourself. In this variant, it is up to you to decide how to communicate the message effectively.
- Hiring freelancers (cost may vary): Freelancers charge different prices depending on the experience they have and the tools they will use to produce videos.
Sometimes freelancers can end up charging you 2-4 times what a video production company does most of the time.
- Hiring a video explainer production company ($2,000 to $10,000)
Just imagine what it would be like if the entire animated video was created specifically to communicate your brand and target audience.
The third option concerns end-to-end service, i.e. from the first meeting to the final video production. This option is suitable for most businesses.
- Hiring a full-service marketing agency ($15,000 to $100,000 or more)
This is an upgraded version of the 3rd option. The only difference is the addition of the marketing team. In this case, the agency will work with you to strategically design your video in a way that maximizes your return on investment (ROI).
6. Use of video content
If assets such as voice acting, video footage, or music require you to pay for the right to use them, this will increase the cost of production. There is an exception if these assets are taken from the public domain, because in this case they will be free.
Public domain resources are limited and used by many people, so the material will not be unique if you choose to use them.
7. Feedback duration
Customer feedback is an integral part of the process. The later the feedback, the higher the cost may be due to the increase in production time. Small businesses and startups respond instantly, while large corporations and enterprises take a huge amount of time to give feedback.
8. Number of revisions requested by the Client
There is a standard practice when it comes to creative work, i.e. there is a limit on the number of edits that are made for free. Once you exceed the specified limit, you will be charged for each revision, resulting in increased production costs.
Conclusion
High-quality video animation is a profitable investment. The ultimate goal of these educational videos is a high ROI through increased customer awareness, engagement, and conversions.
If you are interested in investing in these explainer videos for amazing results, be sure to check out the article https://explain.ninja/blog/how-much-does-a-30-second-video-cost/ on how much 30 second explainer videos cost and also check out the portfolio on the Explain Ninja Studio website.
Making a comprehensive video with a compelling narrative doesn’t have to be twisted.
It doesn’t mean what your video is striving to market; or if you employ animated video, whiteboard, motion graphics, or live-action, the public is always the same — your prospects and clients.
To assist you to demystify video creation, we’re working to outline the components of a Great Video Narrative and tell you how you can incorporate a few into simply about any corporate or explainer video.Read More#VideoProductionServicesinMumbai #VideoProductionServicesinThane #VideoProductionServicesinVashi #VideoProductionServicesinNaviMumbai#VideoProductionCompaniesinMumbai #ProductionHouseMumbai #AdFilmProductionHousesinMumbai #CorporateFilmsProductionCompany#MediaProductionCompanyinIndia #CorporateVideoServices #EverythingYouNeedToKnowAboutNarrativeVideos #VideoMarketing #RadianceVisionGroup
