Many companies constantly struggle to find a consistent cost for explainer videos for their campaigns.
Without having clear insight about the cost of an explainer video, businesses risk overspending or underestimating their budget.
This leads to poor investment decisions and below average explainer video quality.
This guide will break down the various factors that influence the cost of explainer videos to help you make informed decisions and maximize your ROI.
Let’s dive in.
What Are Explainer Videos?
With the rise of short-form content, attention spans are decreasing rapidly. Making it harder for businesses to hook their audience.
Which is why, a lot of marketers are suggesting to move away from traditional marketing content. They are seeing a massive decrease in engagement, hence missing opportunities.
On the other hand, explainer videos are becoming a more reliable and powerful solution. Allowing marketeers to deliver bite-sized information effectively.
These short videos allow them to explain complex concepts, products, or services to a wide audience. These videos are not just delivering the intended message, but also persuading the audience to take the desired action.
How Much Does an Explainer Video Cost?
Wyzol recently asked 242 companies and concluded that an average video costs around $8,457. However, these prices can change from $2,500 to $25,000 or more, considering the cost involved in the process.
Cost Breakdown:
Scriptwriting and Storyboarding: $500 to $2,000 per 60 seconds.
Illustrations and Animation: $1,500 to $3,000 for custom illustrations for 60 seconds. Costs may be higher for animated characters.
Professional Quality: High-quality videos can range between $10,000 and $25,000.
Factors Affecting Costs
Video Length
Video length makes a huge impact on the cost of an explainer video. Since longer videos need more time and resources to produce.
The increased duration requires more scriptwriting, voiceover, animation, and editing. Which adds to the price.
Shorter videos (around 30-60 seconds) are more cost-effective and range from $1,000 to $5,000. While longer ones (2-3 minutes) can cost up to $7,000 or more.
Therefore, it’s important to determine the perfect length for your message to make sure your video remains interesting and gets you results.
Script and Storyboarding
Scriptwriting and storyboarding also greatly impact the cost of an explainer video.
High-quality scriptwriting makes sure the audience sees the message, encouraging them to perform actions.
That’s why it requires skilled writers who charge for their expertise and time.
In the same way, storyboarding translates the script into visual sequences. Which also requires the talent of experienced artists to plan out each scene.
This detailed planning can prevent expensive revisions later on.
Together, these pre-production steps can affect the overall price. Typically adding:$500 to $3,000.
Animation Style
2D Animations costs between $1,000 to $3,000, due to their straightforward design and ease of production.
3D animations and character animation can cost up to $5,000 to $20,000 or more.
Voiceover Quality
Voice quality is another key element that impacts the cost of explainer video.
Professional voice overs can range from $200 to $1,000 or more, depending on the actor’s reputation, language, and accent.
Production Quality
High production quality requires expensive tools, professional-grade equipment, and skilled experts in areas like animation, editing, and sound design.
This can significantly inflate the cost of explainer video
High-definition (HD) or 4K resolution, and special effects give a professional look to your explainer videos. But, increase the cost of your videos.
Revisions and Edits
The more rounds of revisions – the higher the cost will be. Each change requires more time and effort from the production team.
The first round of revisions can be free, but extra can add $100 to $500 per round.
More complex changes like changing animation sequences, and re-recording voice overs can make you pay extra.
Choosing the Right Service
These are your three best options:
Freelancers:
- Quality and consistency may vary.
- You’ll need to oversee the project to ensure it all comes together.
- Good for smaller projects or if you have a clear vision and can manage the process.
Small Production Companies
- They provide a single contact and a streamlined workflow.
- They handle medium-sized projects well.
- They are more responsive and flexible than larger firms.
- Ideal for businesses needing a reliable partner without high costs.
Large Production Houses:
- Best for high-budget, high-impact projects with significant resources.
- They create high-quality videos with advanced animations and intricate details.
- They offer comprehensive services, ensuring each video aspect is well-crafted.
- Suitable for large corporations or brands seeking standout videos.
Explainer Video Costs by Industry Leader
Explainer Video Cost
Finding the right provider requires you to carefully consider your budget, project scope, and quality expectations.
Freelancers offer more flexibility and can save costs, but cannot guarantee a certain level of quality. While small production companies take a more balanced and professional approach.
Large production houses offer higher quality but can cost more. You get what you pay for basically.
For more precise pricing, it’s recommended to get quotes from a professional animation studio and discuss your specific needs in detail.
