Small businesses face unique challenges. For example, they often need more resources to produce large-scale projects while maintaining a high level of quality. When it comes to producing video content, these same concerns apply.
While there’s no one-size-fits-all cost for creating small business videos, several factors influence the overall price tag. In this article, we’ll break down the main costs associated with producing video for small businesses.
Why Do Small Businesses Need Video?
Video content is an effective way to engage customers and promote products. It can also be used for training and onboarding, marketing initiatives, or simply providing a glimpse into your company culture.
There are several different types of video content that small businesses can produce, including:
- Product or service tutorials
- Promotional videos
- Company stories or culture videos
- Interviews with employees, customers, and subject matter experts
- Live streaming events
At the enterprise scale, many of the benefits of video content are the same—as one of the most engaging forms of content, it can help build a brand identity, strengthen customer relationships, and drive sales.
But for small businesses, it’s often one of the most effective ways to make an impact.
The Cost of Producing Video for Small Businesses
No two small business video projects are the same. Depending on the scale of your project and the complexity of your goals, the overall cost of producing video can vary significantly.
On the low end, you can expect to pay somewhere between $500 and $2,500 per finished minute of video content. On the high end, this figure could be upwards of $20,000.
The main costs associated with creating small business videos include:
1. Equipment and Software
Small businesses will need to invest in equipment to shoot professional-quality video. This could include cameras, lenses, audio, lights, and other accessories. Depending on the quality you’re looking for, the total cost here can range from a few hundred to several thousand dollars.
You’ll also need software for editing and production—this could be an online video platform or desktop-based editor. Some of these tools come with additional content management and delivery features that your business may require.
2. Talent
You’ll need to consider the cost of any talent involved in creating your video content. This could include actors, narrators, on-camera hosts, and other professionals who are required to produce a quality product. Depending on the type of video you’re creating and the expertise required, talent costs can range from a few hundred to several thousand dollars.
Especially if you work with influencers or celebrities, you’ll need to factor in any additional costs associated with their appearances.
3. Location
You’ll need to consider the associated costs if your video requires shooting in a specific location. This could include studio rental and any necessary permits or insurance.
If you are working with animated content or already have a studio set up, you can save on costs here.
4. Post-Production and Delivery
Once shooting is complete, you’ll need to factor in the cost of post-production. This could include sound mixing, color correction, and other finishing touches required to make your video look its best. Delivery costs will also need to be considered—you’ll need to pay to host the videos on a platform or website and make sure they are visible in search engine results.
Hidden Costs of Producing Video Content for Your Small Business
In addition to core costs, there are some hidden expenses you may have to bear when producing video. These could include:
- Talent fees for the crew involved in the production, such as directors and producers
- Music licensing or copyright fees for any music used in your videos
- Marketing costs associated with promoting your video content
- Data storage or backup fees, if you’re not using a cloud-based platform
- Legal fees for any contracts, legal advice, and other associated costs
You’ll also need to factor in the cost of any travel expenses associated with filming on location.
Tips for Bringing the Cost of Video Production Down
If you want to reduce the amount you spend on a video production project, here are a few tips that can help:
- Find an affordable video production partner. Finding a reliable and cost-effective video production partner is key to creating quality content on a budget. Look for an agency or freelancer who has experience creating videos for small businesses and can work within your budget.
- Define your business objectives ahead of time. To avoid going back to the drawing board, define your business objectives and desired outcomes for the video before shooting. This will help you avoid any costly revisions or changes that could prolong the production process.
- Use existing assets. Reuse any existing footage, images, or music already owned by your business. This will help you save on copyright costs and any other associated fees.
- Utilize available tools. There are several free tools that can help reduce the cost of video production, such as basic editing software and stock footage sites. Taking advantage of these resources can help to keep your budget in check.
- Invest in quality wherever possible. It seems counterintuitive to spend more money on certain elements, but it pays to invest in quality where it matters. This could include investing in high-end camera equipment, editing software, or talent that ensures you won’t have to rework things later in the process.
Final Thoughts
Producing video content can be an expensive endeavor, but with careful planning and budgeting, it’s possible to create quality content on a reasonable budget. By taking the time to understand all costs associated with video production, you can make sure your small business spends its money efficiently and creates content that drives results.
