How Much Does an Explainer Video Really Cost?

So, thinking about making your explainer video?

Simply your initial concern is about the price.

The number one question we hear from people is “how much does an explainer video cost?”

That's a Good question.

As you’d expect, you can find a wide range of prices out there, anywhere from $500 to $20,000 (and up). But, if you’re working with a reputable producer, expect to spend between $2,000 and $10,000.

The price for a high-quality explainer video is between $5,000–$35,000 per minute.

And that number can increase depending on a lot of factors, like the animation studio and character style you choose. 

Production Cost For an Explainer Video

There are low-priced options in the $2k-5k range, including budget-friendly studios, freelancers, and even DIY software (if you’re fearless!). However, the results of budget studios and fiverr just aren’t comparable to commercial animation.

An amateur video doesn’t speak thoroughly for your brand, and your potential customers will agree to it. The price of commercial caliber animated explainer videos is high.

But it’s worth it.

Increased Conversion Rate

The actual cost of an explainer video isn’t the price of production—it’s all the business you missed out before you had it on your website. Explainer videos are in 70% of the top search results on Google. Consumers expect to have their questions and concerns answered in a quick video. Maybe that’s why the presence of a video accounts for a 41% increase in click-through rate versus plain text.

Dollar Shave Club became prominent for the success of their explainer video, and DropBox became the biggest name in “The Cloud” with their simple explainer video almost 10 years ago. But enough marketing stats and tired success stories. 

Durability: Explainer Video Cost

In 2014, Crazy Egg created an animated explainer video and uplifted their monthly income by $21,000/month. But what’s more interesting than the vast measurable boost to their bottom-line, is that Crazy Egg is still using that same video (from three years ago!) to keep churning out new revenue. Talk about ROI!

Great explainer videos—like the examples above–convert audiences into customers, plain and simple. A high-quality video is an investment in your company and your future success, and like any good investment, you get what you pay for.

Driving Higher ROI

We believe that ROI should drive purchasing decisions when it comes to crafting your explainer video. In fact, ROI is such a huge part of explainer video price. We use it to help potential customers find out if our animation production is right for them. It is essential to make sure that your video creates real value. If it’s a success for you, it’s a win for us!

Explainer Video Cost: Production

Now that you have an idea of the ROI for your explainer video, and why they’re so important to sales and marketing in an increasing video consuming market, let’s break down the video production process to show you where a lot of the costs are occurring. Hopefully, this will ease the shock of explainer video price, while giving you some best practices for choosing the right production studio.

Every (super) explainer video goes through at least six phases:

1.      Research – The portion where we understand your product or service.

2.      Scripting –We work together to help you sharpen your message, and identify your target and goals to create a video that is special.

3.      Storyboard– This is where you get the chance to perceive what your video will look like once it's finished.

4.      Voice over – Having a good voice over craftsman enables connecting with your audiences very easily.

5.      Design and Animation – This portion is where actually make the making of explainer video, animation happens.

6.      Sound Design – The often overlooked part where we the balance of sound effects and music happens.

A lot of time and work goes into these six steps. Making scripts, changes to animation, choosing voice actors, music, and of course actually designing the characters and animating the explainer video. Understanding the process should help explain the explainer video price tag. Having said that...

The two huge deciding factors of explainer video price are:

?       Length of the video

?       Style of the video

Explainer Video Price: Time is Money

You pay for animation by the second. Every animated video studio usually starts the pricing conversation with a discussion of video length. This helps the studio budget the amount of animators and designers they’ll need from the beginning, and also effects turnaround time, production schedules, and the storyboard process. 

Whiteboard Animation

 This is the cheapest explainer video option, but buyer beware. Whiteboard animated videos are considered the original explainer video. Studios still use them today because they’re clean, simple, and infinitely recognizable. Whiteboard animation is a clear, simple explainer video style that fits most budgets. Just make sure this style suits your marketing goals and your brand.

Motion Graphics

Motion graphics refers to the computer animation of primarily graphical elements rather than characters. These videos range from simple shapes to elaborate productions involving hundreds of visual elements rendered in 3D. This is arguably the most flexible genre since animators can literally do just about anything, but be careful if budget is an issue as these productions come at a premium.

2D Animation & 3D Animation

Character animation takes many forms. The two most common styles that incorporate animated characters are traditional 2D animation &3D, CGI rendering. Character design is crucial in these types of explainer videos, so don’t be fooled by their simplicity–even the simplest videos work because of hours of iteration and character design. A sound narrative, with a relatable character, can do what technical specs and flashy graphics can’t.

Kinetic Typeset

These videos have aged somewhat poorly, but when combined with the right voice over and laser-focused content, as explainer videos they can be potent. Typeset videos are often best used to motivate or inspire rather than explain technical concepts, because of their of visual elements design.

Stop-Motion

 Stop-motion style, and when done well it is tough to beat for pure engagement. The main problems are simply time and the cost of production.

Talented stop-motion animators are expensive and difficult to look for. Add glacial production times to that already steep price tag and you have a potential marketing budget disaster. Communication between the animator, client, and managed expectations are key when using stop-motion animation.

Even 30-second spots can take weeks so allow for at least 50% more time for stop-motion explainer videos. Also, be mindful that revisions are extremely costly once production begins.

A Good Explainer Video is Worth Your Every Dollar

Quality explainer videos are an investment that grows your business. A cool look and feel are nice, but the end result of a great explainer is a measurable ROI through increased video SEO results, inbound leads, customer satisfaction, awareness, engagement, sales, or conversions.

If you’re interested in producing an explainer video, try talking to us today for your handcrafted video solutions: +91 9003995222.

This article is based on information from site: https://bit.ly/2OmasiQ

Credits: Idearocket