Did you know that your conversion rates can shoot up by as much as 80% if you simply embed a video on your landing page?, according to a study by BigCommerce?
A video production will also do wonders for your email marketing campaign, increasing open rates by 19% and bringing in 65% more click-throughs. It’ll also give you a 53x greater possibility of your landing page showing up on the first page of Google search results. Meanwhile, on consumers’ end, marketing videos are a factor in 84% of purchases.
A video production can also do these wonders for your email marketing campaign:
- Increase open rates by 19%
- Boost click-throughs by 65%
- Influence 84% of consumers’ purchases
Benefits of Videos Production
In short, you can expect a great return on investment if your brand goes for a video production.
However, before you dive headfirst into the video production process, you need to have an idea of how much you’ll be spending. Here’s a guide to the cost of video production in the Philippines.
A Guide to Video Production Costs in the Philippines
Should I Cut Costs on Video Production?
Short answer: As much as possible, no.
Long answer: You need to understand that you get what you pay for when it comes to video production. A quality video production requires a well-written script, proper equipment and filming locations, skilled post-editing, and an experienced crew. All the increased engagements and conversions will be more than worth your total production costs, however.
A study by Brightcove shows that 60% of consumers who’ve seen a poor-quality video no longer want to engage with the brand involved. While it’s good to avoid overspending on video production costs, you shouldn’t put your brand’s hard-earned reputation at stake because of a cheap video, either.
How Big Should My Video Production Budget Be?
If you want a quality video production that’ll bring in viewers and conversions, get ready to spend a total of P450,000 – P5,000,000. Here’s a breakdown of your estimated video production costs:
Pre-production alone can take up a good deal of time and other resources. This includes conceptualization, scriptwriting, and location scouting. You can always try writing the script in-house with the help of your production company. Many video production houses also include scriptwriting as part of their packages.
- Conceptualization and Scriptwriting: P3,000/hr – P8,000/hr. You’ll be looking for an experienced marketer who can help map out your video production concept and jumpstart your script and storyboard.
- Location: Varies. A restaurant may simply require you to buy a savory dish before the shoot, while other establishments may charge P20,000+ for a few hours of exclusive use. Locations like the Ninoy Aquino International Airport require you to file permits at least two weeks in advance.
Here are the standard day rates for common video production creatives:
- Documentary DP (Director of Photography): P21,000 – P65,000
- Commercial DP: P35,000 – P100,000
- Drone Operator: P27,000 – P75,000
- Commercial Video Editor: P21,000
- Motion Graphics Editor: Flat rate of P30,000 – P1.5M
- Sound Technician: P15,000 – P37,000
- Gaffer: P16,000 – P32,000
- Grip: P10,000 – P32,000
- Full-Service Video Production: Flat rate of P80,000 – P16M
- Celebrity (Actor or Host): P3M – P50M
Day rates are often high because they cover pre-production work and gear costs. A three-day shoot with a two-person crew can cost you P150,000 – P420,000. Of course, you’ll be spending more if you need specialized crew or particular equipment (e.g. for a 360° video production).
Also, unless you’re doing a huge TV commercial, you most likely won’t need to hire any celebrities. Try starring employees or customers in your video production, both for massive savings and for additional relatability.
Additional Notes for Hiring Video Production Crew
- Make room in your budget for delivered meals or a catering company. Your video production crew will have a hard time achieving your desired results if they’re working on an empty stomach.
- Even if you hire crew for just half a day, expect to pay more than half of their day rate. This compensates for lost time and money in case they can’t land a second video production gig for the day.
- Companies often offer discounts for video production shooting spread over several days.
Yes, you’ll be paying for video production equipment, too! This helps hired crew protect their tools of the trade and cover the original cost of purchasing equipment.
- Digital cameras: P1,500/hr – P21,000/hr
- Film cameras, lenses, and stock: P55,000/hr
- Other equipment: P1,500/hr – P5,000/hr, depending on specific video production needs
With stock footage, you can include shots of exotic locations or detailed close-ups without having to shell out money for plane tickets and shooting permits. Choose quality stock footage that matches the feel of your original material for a seamless video production!
- Stock images: P160+
- Stock footage: P2,500+
This is where your raw footage is polished into an eye-catching video production. Post-production includes story editing, coloring, and grading. You can have motion graphics, titles, and soundtracks inserted into your video production at this stage, too.
Take note that video editors tend to have a single specialization. You might end up hiring a separate editor for a different aspect of post-production.
- Editing: P1,000/hr – P9,000/hr
- 3D graphics or keyframe animation: P5,000/hr – P16,000/hr
Additional Notes for Post-Production
- Try hiring a semi-professional videographer. An entire video from a freelancer or media student will set you back just P10,000 – P40,000. Just inspect their portfolio thoroughly to see if their talent matches your video production needs.
- Choose video production music that merges your message with your company image. Go for royalty-free music if you need quality and legally usable music at a low price.
This includes transportation, travel costs, meals, hotels, contingency fees, and other out-of-the-pocket video production expenses. Set aside P10,000 – P50,000 just in case.
What If I Decide to Do the Video Production Myself?
Want to take video production into your own hands? You’ll need the following:
- Video Camera (ex. iPhone or DSLR): P20,000 – P50,000
- Tripod: P1,000 – P10,000
- Backdrop: P2,500 – P16,000
- 3-Point Lighting: P16,000
- Lapel Microphone or Rifle Microphone: P7,500 – P12,000
- Editing Software (ex. Premier Pro, Vegas Pro, or Final Cut Pro): P16,000+
Total: P65,000 – P130,000, excluding meals and travel expenses
Resist the urge to cut video production costs if you’re going the DIY route. If you want your creation to be on par with a professional video production, go for the highest quality equipment and software you can afford. Your only remaining challenge will be to learn the ropes of video shooting and editing. Once you have that down pat, you’ll be producing custom videos with tremendous savings!
You can also use video production tools with user-friendly interfaces. These video-making tools greatly streamline post-production. Many of them operate right off your browser and require no installation at all! However, they may not offer as much customization as a full-blown video production. Some online favorites are:
Additional Tips to Save on Video Production Costs
- Save on travel expenses and spare yourself a deal of hassle by hiring local production houses or freelancers to work on your video production.
- Tell your production company about your budget. Otherwise, your hired company will have to guess at a budget, which can result in a video production that is either too expensive or not polished enough.
ALSO READ: Create an Effective Video Advertisement with These 9 Simple Tips
Remember, video production banks more on quality over quantity. You’ll see better results investing in a single well-made ad rather than a cheaply produced string of commercials.
Need more help with your video production? Feel free to ask the professionals at Mustasa Republic for a hand! We offer video production services that pack more quality at a cost within your budget. Let us work with you on your next video ad, and watch your marketing campaign take off!
Found this post informative? Visit our blog for more helpful articles on video production.