If you are planning on making an explainer video, your first question might be, “how much will it cost me?” The most appropriate answer to this question can be, “it depends.” In this post, I am going to share with you some important information on this topic.
There are different estimates on the internet about the range of the cost of an explainer video. On average, the cost of an explainer video can be as low as a thousand bucks, or as high as seventy to eighty thousand dollars. Of course, it is a very wide range. You may get a decent explainer video at $7,000 to $10,000. But the reason for this wide range is several factors affecting the cost of making an explainer video. We will talk about these factors later.
Another question arises here, “Should I spend this much on a video?” The answer is, “Yes, you should.” Because a good explainer video can convert viewers into customers. You can get a lot of beneficial gains from it. Therefore, you should consider this cost, not a waste of money, rather an investment that is going to pay you back a lot in the form of Return On Investment.
The term DIY (Do It Yourself) is self-explanatory. You may choose such a platform if you don’t want to spend any significant money on your explainer video. But it will cost you way too much time to make a good video because you will have to do everything yourself.
Why this much:
Explainer videos usually cost a big sum of money. But their cost can be justified by the amount of work required in their making. Usually, the production of an explainer video goes through six phases;
- Storyboard or Animating.
- Narration or voiceover.
- Sound design.
A simple list of these steps may make them sound straightforward. But each phase involves several different complicated steps that together contribute towards an up-to-the-mark explainer video.
Different styles cost differently:
The major factor affecting the explainer video cost is its style. Different styles of video require a different amount of work and labor. While you should choose the style which suits your purpose the most, an idea of their relative costs can help you work out your budget.
- Whiteboard animations. They allow you to effectively convey your message on a small budget.
- Motion Graphics. These are computer animations of shapes or words. They include 2D and 3D animations. These are more expensive than motion graphics.
- Live capture. It is expensive as it involves live shooting requiring actors, recording locations, post-production, etc.
- Stop motion videos. These are more expensive than the above-mentioned styles. This style is too labor-intensive and too costly. Therefore, don’t even think about it unless you have too much money to invest in your explainer video.
- Motion capture. It is also expensive as only specialized studios make them. So, if you go for it, be ready to pay a significant price. In return, hopefully, you will get a video that will significantly benefit your business.
The time that it takes for a company from when you give them the project up until they give you the final product. It matters a lot. Different companies take a different amount of time to make a video ranging from 2 or 3 weeks to up to 3 months. But the average time is 5-6 weeks. It also depends greatly on the style of the video. Time is money because the more time it takes to make a product, the more it costs.
Some companies offer quick services and shorter turnaround time if you are in a hurry. But you will have to pay extra money for this purpose.
This was a brief guide about the cost of making an explainer video. You should not hesitate to spend a bit more than you want to when it comes to explainer videos. In return, you will probably get a significant Return on this investment.