Demystifying the Cost of Video Marketing
Let’s cut to the chase. Suppose you’re serious about growing a profitable and sustainable online business. At some point, you need to implement an effective video marketing strategy to advertise, share your message, connect with your audience, and foster a culture of loyalty for your brand.
If you’re like me, when I see stats like this, it grabs my attention:
93% of marketers who use video say that it’s an important part of their marketing strategy. (www.wyzowl.com)
Is video an important part of your marking strategy?
If not, I hope this blog will give you some guidance.
Many business owners don’t have the time to research how to find the appropriate resources to help them. They need to talk to other people to get ideas and recommendations. They need to spend significant time Googling, and contacting multiple social media marketing companies, agencies, and freelancers.
The part that drives me crazy is they all seem to have a hard-sell technique. I don’t know anyone who enjoys being pressured to buy something, especially when big dollars and long-term commitments are on the table.
It takes a considerable amount of time and energy to do the research.
If you’re a small to medium-sized business looking for help with video marketing, there’s generally three options to choose from:
Let’s take at how each one of these stacks up.
1. SOCIAL MEDIA MARKETING COMPANIES OR AGENCIES
According to WebFX.com, a global digital marketing solutions provider, “on average, businesses invest $4000 to $7000 per month on social media management, which includes marketing and advertising on one or more networks.”
Wyzowl (www.wyzowl.com), one of the worlds market leading explainer video companies found that, “on average, a one-minute animation video will cost $7,972, with studios charging anything from $2,000 to $20,000 per video.”
And Hubspot (www.hubspot.com), a leading developer and marketer of software products for inbound marketing, sales, and customer service, says “for an explainer video, prices on the lower end of the scale start at $700 and can quickly rise to $72,000.”
Note: Explainer videos are short online marketing videos used to explain your company's product or service. Explainer videos are often placed on a landing page, your website's home page, or a product page.
Dollar Shave Club made a viral explainer video that amassed over 27 million views on YouTube. The video was made on a low-cost budget of $4500. You can see it here. https://youtu.be/ZUG9qYTJMsI
2. CONSULTANTS
When it comes to outsourcing, WebFX also reports that “social media services cost $900 to $20,000 per month and social media consultants cost $75 to $500 per hour for video services.”
3. FREELANCERS
In context for this blog, I’m referring to freelancers that you find on platforms like Upwork, Fiverr, Turing, TechRadar, LinkedIn, Flexjobs, Simplyhired, etc.
Today, more and more companies are using freelance websites to get jobs done for them quickly at reasonable prices and with good quality. There’s always a certain amount of risk involved, but if you apply due diligence in your search, you can have good success using this service.
“A video without a plan is just a video. But a video with a plan is a strategic business weapon.”
~ Ed Squire
The good news is you can have a video made for you for $300 or less. The drawback is that it’s difficult to find strategic video marketing services.
In general, here’s what it costs to have a video made for you:
No matter the option you choose for video marketing and production, there are advantages and disadvantages. Depending on what you’re looking for, any of these choices can be good ones to help you succeed.
CONCLUSION
Most online entrepreneurs know the challenges when it comes to creating videos for their businesses. And creating videos is only half the battle. Having a marketing strategy is just as important, and in my experience, it’s even more critical.
Today I’m running into more and more business owners who are making their videos. However, they’re frustrated with the lack of results they’re getting when they know how powerful this medium can be.
What if I told you that YOU can make successful videos?
What if I told you that YOU can craft a powerful marketing strategy?
What if I told you that you don’t have to be a pro at editing or have the technical abilities to create professionally produced videos like the Dollar Club video to succeed at making compelling videos for your business?
Over the past few years, countless friends, colleagues, and referrals have asked me to make videos for them. Since I’m not a high-cost social media marketing agency or a low-cost freelancer, I’ve been happy to make good quality videos for a reasonable price. However, I began to wonder…
“How can I help people make videos and marketing strategies without feeling
like they need to become a professional videographer and social media strategist?”
So, I created a program where I teach online entrepreneurs how to make videos that dominate their market and convert high-value leads into cash and loyal communities.
If you want to learn more and you’re serious about your business, you’re welcome to schedule a FREE 50-minute strategy session with me.
I would love to talk with you.
REFERENCES:
Video marketing statistics: The state of video marketing in 2021. https://biteable.com/blog/video-marketing-statistics/
67 Video Marketing Stats You Need to Know for 2021. https://www.lemonlight.com/blog/67-video-marketing-stats-you-need-to-know-for-2021/
How Much Does Social Media Management Cost in 2021? https://www.webfx.com/Social-Media-Pricing.html
The State of Video Marketing 2021. https://www.wyzowl.com/state-of-video-marketing-2021-report/
What is an explainer video? https://www.wordstream.com/blog/ws/2014/03/13/explainer-videos
If you’re like me, when I see stats like this, it grabs my attention:
93% of marketers who use video say that it’s an important part of their marketing strategy. (www.wyzowl.com)
Is video an important part of your marking strategy?
If not, I hope this blog will give you some guidance.
Many business owners don’t have the time to research how to find the appropriate resources to help them. They need to talk to other people to get ideas and recommendations. They need to spend significant time Googling, and contacting multiple social media marketing companies, agencies, and freelancers.
The part that drives me crazy is they all seem to have a hard-sell technique. I don’t know anyone who enjoys being pressured to buy something, especially when big dollars and long-term commitments are on the table.
It takes a considerable amount of time and energy to do the research.
If you’re a small to medium-sized business looking for help with video marketing, there’s generally three options to choose from:
- Social media marketing companies or agencies.
- Consultants.
- Freelancers.
Let’s take at how each one of these stacks up.
1. SOCIAL MEDIA MARKETING COMPANIES OR AGENCIES
According to WebFX.com, a global digital marketing solutions provider, “on average, businesses invest $4000 to $7000 per month on social media management, which includes marketing and advertising on one or more networks.”
Wyzowl (www.wyzowl.com), one of the worlds market leading explainer video companies found that, “on average, a one-minute animation video will cost $7,972, with studios charging anything from $2,000 to $20,000 per video.”
And Hubspot (www.hubspot.com), a leading developer and marketer of software products for inbound marketing, sales, and customer service, says “for an explainer video, prices on the lower end of the scale start at $700 and can quickly rise to $72,000.”
Note: Explainer videos are short online marketing videos used to explain your company's product or service. Explainer videos are often placed on a landing page, your website's home page, or a product page.
Dollar Shave Club made a viral explainer video that amassed over 27 million views on YouTube. The video was made on a low-cost budget of $4500. You can see it here. https://youtu.be/ZUG9qYTJMsI
2. CONSULTANTS
When it comes to outsourcing, WebFX also reports that “social media services cost $900 to $20,000 per month and social media consultants cost $75 to $500 per hour for video services.”
3. FREELANCERS
In context for this blog, I’m referring to freelancers that you find on platforms like Upwork, Fiverr, Turing, TechRadar, LinkedIn, Flexjobs, Simplyhired, etc.
Today, more and more companies are using freelance websites to get jobs done for them quickly at reasonable prices and with good quality. There’s always a certain amount of risk involved, but if you apply due diligence in your search, you can have good success using this service.
“A video without a plan is just a video. But a video with a plan is a strategic business weapon.”
~ Ed Squire
The good news is you can have a video made for you for $300 or less. The drawback is that it’s difficult to find strategic video marketing services.
In general, here’s what it costs to have a video made for you:
- Most marketers spend between $100 and $1000 on average per video.
- In 2020, most marketers spent $300 or less on video followed by $301 to $1,000, and $1,001 to $5,000.
No matter the option you choose for video marketing and production, there are advantages and disadvantages. Depending on what you’re looking for, any of these choices can be good ones to help you succeed.
CONCLUSION
Most online entrepreneurs know the challenges when it comes to creating videos for their businesses. And creating videos is only half the battle. Having a marketing strategy is just as important, and in my experience, it’s even more critical.
Today I’m running into more and more business owners who are making their videos. However, they’re frustrated with the lack of results they’re getting when they know how powerful this medium can be.
What if I told you that YOU can make successful videos?
What if I told you that YOU can craft a powerful marketing strategy?
What if I told you that you don’t have to be a pro at editing or have the technical abilities to create professionally produced videos like the Dollar Club video to succeed at making compelling videos for your business?
Over the past few years, countless friends, colleagues, and referrals have asked me to make videos for them. Since I’m not a high-cost social media marketing agency or a low-cost freelancer, I’ve been happy to make good quality videos for a reasonable price. However, I began to wonder…
“How can I help people make videos and marketing strategies without feeling
like they need to become a professional videographer and social media strategist?”
So, I created a program where I teach online entrepreneurs how to make videos that dominate their market and convert high-value leads into cash and loyal communities.
If you want to learn more and you’re serious about your business, you’re welcome to schedule a FREE 50-minute strategy session with me.
I would love to talk with you.
REFERENCES:
Video marketing statistics: The state of video marketing in 2021. https://biteable.com/blog/video-marketing-statistics/
67 Video Marketing Stats You Need to Know for 2021. https://www.lemonlight.com/blog/67-video-marketing-stats-you-need-to-know-for-2021/
How Much Does Social Media Management Cost in 2021? https://www.webfx.com/Social-Media-Pricing.html
The State of Video Marketing 2021. https://www.wyzowl.com/state-of-video-marketing-2021-report/
What is an explainer video? https://www.wordstream.com/blog/ws/2014/03/13/explainer-videos