A recent survey revealed that visitors who watch a video will stay on the site twice as long as those who did not see a video to view. Based on that, you should consider having a video made specifically for your website. An explainer video is among the best kind of videos to have on a commercial website.
Being a marketing content, an explainer video is not only relevant to your content, but also budget friendly.
An explainer video is a content that’s specifically designed to showcase your company’s product. Having one that does that is a great breakthrough as you’ll entice potential customers more, which in the long run will bring you more revenue.
A recent case study reported that an ecommerce shoppers who watch a video about a product is 181% more likely to make a purchase compared to non-viewers. It means that setting up an explainer video on your website’s landing page is statistically beneficial.
Now the question is: how much should you invest to create an explainer video?
The 5 Elements of Explainer Videos
Before we begin breaking down the cost of creating an explainer video, let’s explore the components of an explainer video.
- Voice over
- Sound effects & background music
Now let’s break them down one by one.
Script is a crucial element to any explainer video. This is the core that will make an explainer video powerful. Failing to make this part with the best quality will result in a flop for an explainer video.
A professional scriptwriter will cost anywhere from $50 to $250.
With that price tag, you might be tempted to try and write your own script since you know everything there is to know about your own product that will be explained. However, you might not have the necessary skills.
Storyboard is the visualization of a script. An illustrator’s skill is greatly challenged at this phase since they need to resonate and understand the script before they are able to turn the words into images.
A storyboard is an explainer video’s first step to tell a story and show how it will unfold when it’s animated. Therefore it can take some time for an artist to draw a storyboard.
An independent artist usually charges anywhere between $10 to $100, depending on their experience and expertise in the field.
At our studio, we managed to minimize the storyboarding cost by having in-house artists to draw storyboards. During our busiest days at Breadnbeyond, it can take up to 3 business days (~24 hours) for an illustrator to complete a full-blown colorful storyboard.
Voice over is another expense that you can try to cut down. You can find voice actors on Fiverr for as cheap as $5, but most of the times, you get what you pay for.
A professional voice artist will cost you around $100 to $200 per hour.
If you’re thinking “wow, that’s a lot of money”, you need to keep in mind that there’s also a cost to rent a recording studio with proper equipment outside of paying for the artist’s time and skill.
Even if you are confident enough to use your own voice as a voiceover, there are still some expenses that you need to consider. Purchasing or renting a set of recording equipment such as a microphone, pop filter, mixer and creating your own recording booth will cost you a significant amount.
Most explainer video production studios have a package offer that include voice over. Breadnbeyond has made special deals with talented voice actors from all around the world, and that’s why we can press our production cost to a fraction from what other studios are offering with minimum compensation in quality.
SFX and Background Music
Like voice acting, mixing SFX (sound effects) and background music requires a specific skill set. Sure, you can look up tutorials on how to use Adobe Audition on YouTube and do everything yourself.
I have to assure you though, what you do based on a tutorial is incomparable to the work of a professional sound editor that comes with experience. Even then, a professional sound editor needs several hours to work on one minute of detailed sound effects and background music for an explainer video.
An independent sound designer will cost you between $15 to thousands of dollars depending on the quality of their work and experience. And again, we manage to press our production budget by hiring an in-house sound designer.
Last but not least is core of an animated explainer video: the animation. It’s crucial that you find an animator or production studio with strong portfolios. These portfolios are the easiest way to measure the quality of work they will give you. Their portfolios will also show you whether or not they are capable to bring the video you have envisioned into life.
If you want to ensure that your explainer video has a great, top-notch animation, you should consider spending the largest portion of your budget to hire an outstanding animation studio or freelancer and not be stingy on this.
In short, don’t go cheap on the animation.
However, as a business professional you should also know better than to blow everything you have on animation alone. Be wise and figure out a way to get the best value for the money you spend.
A professional independent animator will charge between $5 (not recommended) all the way to hundreds of dollars for a one-minute video.
Calculating the Cost
Hiring a production studio to make an explainer video is the best option that you can get to save most of your time so you can focus on other important task to grow and manage your business.
Calculating the budget to work with an expert animator is related to two factors:
You might have some favorite video styles that appeal to you, and want your explainer video have a similar feel.
Every animator and illustrator have their own style, without exception, and every style has its own level of difficulty. Therefore, asking for a specific look for an explainer video is practically asking for an artist to go out of their way and make a video that you like.
So, you might have to be ready to pay a higher amount if you want your video to take on a particular look.
You can’t force creativity. You can only be patient and rely on the timeframe. Every professional artists or studio that you hire will tell you how much time they need in order to deliver an explainer video.
Even when you work with top-notch studios or artists, they still have a certain timeframe to complete your explainer video — after all, timeframe is what makes a professional, a professional.
You can try following their timeline. However, some artist are willing to put your project in a higher priority in exchange for an additional cost.
That’s why the best way to save your money is to plan ahead. If you know you want to publish your video in time for a particular trade fair, for example, you have to plan your video early.
Every component surely requires a certain budget. Depending how much you want to spend in total on your explainer video, the best way to avoid any un-wise spending is to plan ahead.
While other studios might cost you an arm and a leg, what Breadnbeyond’ has to offer will certainly pique your interest.
Take a look at our portfolio, and after you find our styles suit you (yes, we have multiple styles from different in-house artists), shoot us an email here or directly to sales(at)breadnbeyond(dot)com.