11 reasons why video pricing varies and how to make an informed decision
If you're a small business owner or marketing professional wondering why video services can vary so much in cost, here are some considerations for how production professionals determine price so you can be more informed the next time you hire a pro to work on your project.
Videographers, like other creatives, are craftspeople with different approaches, knowledge-bases, skills and experience. This gives them the freedom to choose their own work at their own price.
Each professional has a different target market or audience and prices themselves according to what’s realistic and reasonable for their specific space. For example, someone who serves small businesses with lower budgets and simpler needs may charge less than someone who works with large corporations with larger marketing budgets and more complex needs.
Video providers have different gear. Cameras alone can $6,000, $20,000 or more. A more expensive professional may have more costly gear to cover.
From freelancers to larger agencies, there is varying overhead to cover like office or studio space rental or employee salaries.
People have different levels of talent and experience. As with all things, you typically get what you pay for.
Videographers may charge lower rates if they are in need of work or just starting out and looking for opportunities to learn and grow.
You can think of hiring creative services like hiring a contractor for your home. Some are independent and some are larger companies. Talent, experience, tools and gear can vary, so price will vary as well. Most people get multiple quotes and make a selection based the value they feel they’re getting, their needs and their budget.
Companies may charge more for additional pre-production or video strategy but this can also make your video more successful.
Videos that are meant to have a longer life can take more work and warrant a higher cost, such as a video on your website that you plan to use for the next five years. Consider your ROI when looking at your video investment. How long or how many sales will it take to earn it back?
Professionals may charge more for work in a specific niche where they feel their understanding of the industry can provide added value.
There’s a time and place for all levels of service. As your business needs and budget grows you may grow along with your video provider or possibly have to seek someone with more experience at a certain point.
To learn more about why video services can vary so much in cost, watch or listen to our podcast discussion with film and video lighting expert Najada Davis.
Listen: https://podcasts.apple.com/us/podcast/from-cheap-to-expensive-understanding-the-range-of/id1501809743?i=1000608975425
Watch: