In this age, the best way of winning customers and making more sales is branding your products. Branding involves telling the customer who you are and what the constituents of your offers are. With the rising number of lazy readers, an organization must seek a way to pass the information about their products in an easy and faster approach. Due to this, use of explainer videos is becoming a norm in the marketing niche.
Customers do not just want to see an image or hear about your products. Rather, their interest is to observe a real-life application of your products. While this may be an additional cost to business owners, it is profitable for you as a video producer. But what should you consider when setting prices for your explainer videos? Read on to know.
• Quality of the video
As you know, different organizations require varying qualities depending on their target audience and budgetary allocations. To deliver high-quality videos, you need to hire qualified professionals at each production stage. You need a professional scriptwriter, voice-overs narrator, and extensive customization. As such, you cannot charge for such an explainer video at the same price for an organization requiring a standard video with limited animations. Hence, you should charge your videos depending on the quality requirements of your customers.
• Techniques and styles
As an explainer video producer, you understand there are several techniques and styles you can use in the video creation process. Some of these animation techniques include cartoons, 2D&3D, whiteboards, and motion graphics among others. A video requiring just the basic animations such as the whiteboards cannot be of the same price with that demanding extensive technique and styling such as 3D.
As such, their pricing will be different. For this reason, you should consider the mix and match of the styles and techniques that a customer is requiring before setting your prices and production fees.
• Length of the explainer video
The length of the video is another vital pricing element. As you know, you need a lot of time to develop a script for a 5 min video than the one you would use to create one for 60sec. In this essence, when setting prices, it is essential to consider its length. Also, short videos need few characters and customizations.
Furthermore, you should not forget that a voice over profession will charge you according to the length of the videos you are creating. This is in case you have to outsource your services. For this reason, you must list all the necessities for each length of the video, cost them, and include them in your explainer video pricing.
Have you worked on tight deadlines? Probably, you have done that, and so you understand the pressures you encounter. For you to develop a wooing explainer video, you need a suitable duration to put your house in order and to offer each profession an adequate duration to do their part. However, some organizations may have urgent needs of explainer videos. In such a case, it means that your team has to pull up their socks and work for extra hours. Do you think they will work for free?
Unless they are your slaves and not team players, you must compensate them for the extra duration they will spend on your project. For this reason, your charges should be based on the clients' deadlines. As such, short deadlines should attract high charges than the long ones due to work involved and extra hours worked.
All in all, deadlines, length, quality, techniques and styles are the essential elements to consider when setting the prices for your explainer videos. Otherwise, ignoring them will mean receiving compensation that is below your cost – loss.
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