Video content has quickly overtaken all the other forms of media. Indeed, video reigns supreme in the digital age. So much so that around 80% of all consumer Internet traffic is made up of video content. And while there is a slew of different types of videos that are used for marketing video production, one stands above the rest as one of the most effective ways to quickly educate your target audience: explainer videos.
You’d be forgiven if you initially underestimated just how effective explainer videos can be. But take a closer look and you’ll see just how powerful these types of videos are when it comes to marketing a business. No other type of video allows you to disseminate a ton of information without losing your audience’s interest. Due to the results that they bring, many businesses want to utilize these types of videos for their digital marketing campaigns. However, many of these same businesses are unaware of the cost associated with these videos. This is why we thought it would be useful to prepare a brief breakdown of all the costs attached to explainer videos. If this is something you want to know more about, read on as we explain how much the average explainer video actually costs.
The costs for scripting vary wildly. This is because you can approach this aspect of the video in different ways. If you opt to write the script yourself, then all it will cost you is manpower. If you hire a scriptwriter, the costs will also differ depending on the experience level of the writer you hire. Here’s a breakdown of the costs for junior scriptwriters, mid-level scriptwriters, and senior scriptwriters:
Once the script is done, it’s time to proceed to storyboarding. The costs for this will vary depending on how many illustrators you want to hire and the style or complexity of the illustrations. While more illustrators will lead to higher costs, it will also result in a faster turnaround time. Given the right situation, it may be wise to hire more illustrators to begin the production process as quickly as possible. Most illustrators charge between $25 and $90 per hour and will each have their own style and process.
Animation is the most time-consuming and resource-intensive part of explainer videos. This isn’t surprising as they will be responsible for creating the final video itself. Junior animators get paid around $25/hour while senior animators charge an average of $125/hour. We suggest not skimping out on your animator, as it can make or break your video.
Lastly, editing is what will put the final touches on your video and will help pull everything together. Editors will work on everything from the animations to the sound effects on your explainer video. Here’s a breakdown of the average costs for junior editors, mid-level editors, and senior editors:
The final cost for an explainer video can vary greatly depending on it's length, style, quality, and complexity, but the average cost for a 1 minute custom explainer video is approximately $3,500 - $6,500.
We hope this article has helped shed some light on the costs attached to explainer videos. Take note that aside from the resources and manpower that you need to devote to create these types of videos, you’ll also need to invest adequate time to make an effective explainer video. Hopefully, this article can help serve as a guide when you plan for your upcoming videos.
Mustard Productions is a full-service video production company in Canada. We can help your business produce video content that would deliver great results. Contact us today to know more!