Over the past few years, explainer videos have gained traction and popularity among marketers. This is because these videos, short and succinct as they may, are able to do many things for brands including increasing conversion rates, clarifying product objectives, grabbing the attention of the audience while helping them retain information, and so much more.
These days, the question surrounding explainer videos isn’t whether or not a company should use them but how much do these cost. The price range for these videos are actually varied. There are companies that charge up to $10,000 (and sometimes more) per 60 seconds video while there are those that charge ridiculously cheap at around $500 to $1000. If you hire a proper company that has everything done right, you might even spend up to $100,000 just for one explainer video.
A lot of people actually get shocked when they first learn about how much an explainer video costs. However, this often stems from the fact that they aren’t familiar with the amount of time and effort that go into producing even the shortest explainer videos.
The truth is explainer videos can take up to six weeks to produce. That’s a whole month and an additional two weeks thrown in for a short video clip! Let’s break down what goes into producing one animated explainer video:
- Research – Any sensible studio will first start with research. This allows them to fully understand your company’s objectives and its products and services. Bear in mind that the team will have to condense all of this information into at least 60 seconds.
- Scripting – At this stage, the studio will be honing your message and identify your target and goals.
- Storyboarding – This is where the studio designs the backbone of your video. At this phase, you will see all the design elements as well how the story unfolds.
- Voiceover – Professional narration helps your video get the message across easier and more convincing.
- Animation – This is where your video actually gets made. Talented animators turn basic designs into moving objects.
- Sound design – At this stage, the music and sound effects are put in place. This adds to the character of your video and its overall appeal.
Between these six stages, there will always be editing, revisions, renderings, and more until the video actually gets delivered and published. It looks like a lot of work and it is. The hours spent producing explainer videos also have corresponding costs and, depending on the task, can be as low as $50 per hour to $100 per hour. This can bring the total production cost to about $10,000.
Here at Monkey Video Production, we charge at around $3000. That’s somewhere in the middle, right? Yes and no. While at face value, we charge our customers this amount, we actually deliver so much more.
We are actually equivalent to a $10,000 video producing company in Australia. However, we are able to bring down our prices down to $3000 because we have resources from overseas. Because of the cheaper labour rates we get from our animators outside of the country, we are able to pass on the savings to our clients! We are also able to deliver the project much faster than other companies as we can take advantage of the time zone difference. Our animators work while we sleep. The best part is we project manage right here in Australia, therefore always delivering your projects just the way you want, on time, every time. All of these mean two things: 1) high quality videos and 2) competitive prices that our clients enjoy.
Our roster of satisfied customers include Qantas Airlines, Toll Global Logistics Company, Asia Pacific Digital, the Export Council of Australia, and more! As you can see, these big businesses can afford much more expensive production companies but they turned to us not just because of our lower rates but because they trust us to come up with explainer videos that captures the essence of their business, products, and services.
What are you waiting for? Call 1300 775 385 for your own explainer video and increase your sales now!