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Explainer videos have become an essential tool for businesses of all sizes to effectively communicate their products, services, or ideas to their target audience. These concise and engaging videos are designed to quickly capture the viewer’s attention and provide a clear, compelling explanation of a complex topic. As businesses increasingly recognise the power of explainer videos in driving conversions and improving brand awareness, the demand for these videos has skyrocketed.
However, one of the most common questions that businesses have when considering an explainer video is: “How much does an explainer video cost?” The answer to this question can vary significantly, depending on a variety of factors. In this comprehensive guide, we will explore the different elements that influence the cost of an explainer video, the average price range, and strategies to help you optimise your budget and get the most value from your investment.
Factors that Affect the Cost of an Explainer Video
The cost of an explainer video can be influenced by a number of factors, including:
- Video Length: Longer videos generally cost more than shorter ones, as they require more time and resources to produce.
- Animation Style: The type of animation used, such as 2D, 3D, or motion graphics, can significantly impact the cost. More complex animation styles tend to be more expensive. Check out hourly rates for 2D animators and cost of 3D animation to get a better understanding of the average rates
- Voiceover and Audio: The quality and expertise of the voiceover artist, as well as any music or sound effects, can affect the overall cost.
- Script Development: The time and effort required to research, write, and refine the script can add to the project’s cost.
- Visual Assets: The number and complexity of visual assets, such as illustrations, characters, and backgrounds, can influence the cost.
- Production Timeline: Rushed timelines or tight deadlines can result in higher costs, as the freelancer may need to work overtime or bring in additional resources.
- Location and Studio Fees: If the video requires on-location filming or the use of a professional studio, these costs can add to the overall budget.
- Revisions and Edits: The number of revisions and edits requested during the production process can impact the final cost.
- Licensing and Permissions: If the video includes the use of copyrighted material, such as music or stock footage, the associated licensing fees can add to the cost.
- Experience and Expertise of the freelancer: The level of expertise and experience of the freelancer can also affect the overall cost.
Different Types of Explainer Videos
Explainer videos can come in a variety of styles and formats, each with its own unique characteristics and cost implications:
- Animated Explainer Videos: These videos use 2D or 3D animation to convey the message. They can range from simple, whiteboard-style animations to more complex, character-driven narratives.
- Live-Action Explainer Videos: These videos feature real people, often in a documentary or interview-style format, to explain the product or service.
- Kinetic Typography Explainer Videos: These videos use dynamic text and motion graphics to engage the viewer and communicate the message.
- Screencast Explainer Videos: These videos capture the screen of a computer or mobile device, often with a voiceover, to demonstrate a product or service.
- Whiteboard Explainer Videos: These videos feature a hand drawing or writing on a whiteboard, accompanied by a voiceover, to explain the concept.
The choice of explainer video style will depend on the specific needs and goals of the business, as well as the target audience and the complexity of the message.
Average Cost of an Explainer Video
The average cost of an explainer video can vary widely, ranging from a few hundred dollars to tens of thousands of dollars, depending on the factors mentioned earlier. However, some general cost ranges can be provided:
- Basic Animated Explainer Video: $5,000 to $5,000
- Mid-Range Animated Explainer Video: $5,000 to $15,000
- High-End Animated Explainer Video: $15,000 to $50,000
- Live-Action Explainer Video: $5,000 to $20,000
- Kinetic Typography Explainer Video: $3,000 to $10,000
- Screencast Explainer Video: $500 to $3,000
- Whiteboard Explainer Video: $1,000 to $5,000
It’s important to note that these are just general estimates, and the actual cost can vary significantly based on the specific requirements of the project.
Pricing Models for Explainer Videos
Freelancers typically offer a few different pricing models for explainer videos:
- Fixed-Price Model: Freelancer provides a fixed, all-inclusive price for the entire project, which can make budgeting easier for the client.
- Hourly Rate Model: The client is charged an hourly rate for the time spent by the freelancer, which can be more flexible but harder to predict the final cost.
- Package Deals: Some freelancers offer pre-designed packages that include a specific set of services, such as script writing, voiceover, and a certain number of revisions, at a discounted rate.
Cost Breakdown of an Animated Explainer Video
To provide a more detailed understanding of the cost components, let’s take a closer look at the breakdown of an animated explainer video:
Cost Component | Estimated Range |
Script Writing | $500 – $2,000 |
Storyboarding | $500 – $2,000 |
Character Design | $500 – $2,000 |
Background Design | $500 – $2,000 |
2D or 3D Animation | $2,000 – $10,000 |
Voiceover Recording | $200 – $1,000 |
Music and Sound Effects | $200 – $1,000 |
Editing and Post-Production | $500 – $2,000 |
Revisions and Feedback | $500 – $2,000 |
Project Management | $500 – $2,000 |
This breakdown can vary depending on the specific requirements of the project, but it provides a general idea of the cost components involved in creating an animated explainer video. Talk to our 2D animators or 3D animators to get exact quotes for your explainer videos.
How to Estimate the Cost of an Explainer Video
When estimating the cost of an explainer video, it’s essential to consider the following steps:
- Define the Scope: Clearly articulate the objectives, target audience, and the key message you want to convey through the explainer video.
- Determine the Video Style: Decide on the type of explainer video (animated, live-action, etc.) that best fits your needs and budget.
- Estimate the Video Length: Determine the approximate duration of the video, as this will significantly impact the cost.
- Identify the Required Elements: Consider the specific elements needed, such as script writing, voiceover, animation, and post-production.
- Factor in Revisions and Edits: Allocate a portion of your budget for potential revisions and edits during the production process.
- Consider Additional Costs: Remember to account for any additional costs, such as licensing fees or travel expenses, if applicable.
By following these steps, you can develop a more accurate estimate of the cost of your explainer video project.
Tips for Reducing the Cost of an Explainer Video
If you’re looking to optimize your budget for an explainer video, here are some tips to help you reduce the cost:
- Opt for a Shorter Video: Shorter videos generally cost less than longer ones, as they require less time and resources to produce.
- Choose a Simpler Animation Style: Opting for a more straightforward 2D animation style can be more cost-effective than complex 3D or motion graphics.
- Provide Clear Feedback and Limit Revisions: Providing clear and concise feedback during the production process can help minimise the number of revisions, which can drive up the cost.
- Leverage Existing Assets: If you have access to relevant images, graphics, or footage, you can incorporate them into the video to reduce the need for custom-created assets.
- Consider an In-House Voiceover: If you have a team member with a clear and professional-sounding voice, you can opt for an in-house voiceover to save on external talent costs.
- Explore Stock Music and Sound Effects: Instead of custom-composed music and sound effects, you can use high-quality stock audio elements to reduce the cost.
Final Thoughts
Explainer videos have become an essential tool for businesses looking to effectively communicate their value proposition and engage their target audience. While the cost of an explainer video can vary significantly, understanding the key factors that influence the price can help you make an informed decision and get the most value from your investment.
To get started on your explainer video project and explore the best options for your budget, contact our explainer video experts today.
Hold On! Here are some additional articles that would be beneficial for you,
- Find out what makes a good explainer video project brief
- Find out the hourly rates of 2D animators
- Find out the cost of 3D animation
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