Training video cost (budgeting) is known to be the first and foremost criteria for corporates. Clients consider it when they are having initiatives to develop training videos. There are numerous options available in the market from talking heads to animation, each of them carries its own advantages and disadvantages. It depends on the corporation’s purpose to decide which type they should choose. In this article, we want to show you the big picture of the market and how you should manage your training video cost.
- Training video cost at a glance: What to consider before getting your videos?
- How much does a training video cost?
Training video cost at a glance: What to consider before getting your videos?
The purposes of videos
Before deciding on your budget, we recommend taking the purpose of the videos into consideration. If you want to get videos solely for the purpose of “making them look nice”, you probably don’t need the videos that much. Consider also your audience insights to better evaluate the needs for videos. Here is the list for your reference:
- What are their expectations for the training?
- How does their learning process/learning curve look like?
- What kind of visuals are they attracted to?
If you seriously want to make your complicated ideas highly engaging and effective, getting training videos is the right decision.
The resources and quality correlation
The second criterion that directly affects your decision is the resources (including time, budget, and effort) and quality correlation. The time, the budget, and the effort that you spend on videos need to have a high return on investment. Some projects only need to have a 2D animation to deliver their best message. 3D, or even other more advanced graphic styles may only result in distractions. However, when it comes to the ROI concept, people tend to mistake the value of videos with training video prices. The value of training videos lies in their ability to convey one’s message across. If a video is produced at a very low training video cost but does not serve its purpose, it is totally useless. The correlation of resources and quality should be defined as “making the best out of what you have”.
Corporate video pricing can be a tricky one when you are researching the market. Therefore, keep in mind the above criteria as you go along the selection process.
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How much does a training video cost?
As you have gathered a considerable budget for your videos, it’s time to take a look at the training video prices. There are many options available in the market for your choice. However, it will be down to one or two significant types that can help you achieve your desired goals. Below is our list that can show you how they compare and what can be the best solution for your company.
In general, the training video production costs around $300 – $2000 per minute of video. The price will be flexible depending on what type of video that you choose, the complexity of the content, and video effects
Before diving into the training video cost, you can find out more about training video types and the application guide here:
1. Talking-head videos
This is one of the most common types of training videos (also the most modest and predictable). With this type of video, usually, there will be a talking person facing the camera delivering the content. The visual is pretty simple and looks more like a lecture/explainer video at the university than a corporate training video.
Talking-head video can serve the purpose of simply explaining the content or introducing a particular topic. The correlation between the resources spent and the quality received is quite fair if you choose the right vendor. The upside for this type is the simplicity in execution. You might just need a cameraman, a room with good lighting, a lecturer, and a bit of post-production. It is a go-to solution for low budgets and tight deadlines. However, it does not guarantee the end goal of delivering the message since it does not differ from an offline class. With some graphics on, it may attract more attention. But at the same time, it might raise the training video cost since post-production will be more complicated with the combination of real footage and graphics.
The price range for talking-head video (Mid-range): $300 – $1000 for a simple 1 minute with no special effects video, $1000 – $5000 for more complicated videos with effects and high-quality production elements.
Find out more about tips to make your corporate training video more interesting:
2. Presenter videos
This type is a variation of the talking head type but the focus lies in the text that is presented. A man/woman will stand in front of a clean background. Then the slides will be added later in the post-production process. In comparison with the previous type, it is more commonly used in online courses because of its way of presenting ideas. It is an easy way to transform your existing slides into a video to serve the purpose of remote teaching. With this type, learners can utilize the screenshots from the video as their personal notes. If you are using this type with its true purpose, it will give you a fair return. But if it is falsely used, it will only make your materials look worse.
Presenter videos are convenient in a way that you don’t need to spend too much time planning the script for your character. It is all on the screen. Your character is only responsible for being a guider of the audience through the content. No more no less. On the other hand, it might just take you more time than you expect. Because the synchronization of a pre-recorded person and the graphics is a real deal in post-production.
The price range for presenter (Mid-range): $300 – $2000 for a minute video with a simple approach and higher for videos with complex concepts. When making this type of video, you should pay attention to the detailed quotation to avoid being overpriced.
3. Animated videos
For a more refreshing approach, animation might lead the way. An exciting way to make any lecture sound fun and look fun is by transferring it into the animation language. It is proved to be effective because of its intuitive approach to the audience cognition and its friendliness to the mass audience taste. It is easy to differentiate animation from others, but it is difficult to find an effective one.
The effective training method
Unlike any other type of video, animation gives you an opportunity to describe abstract (and usually considered to be boring) concepts. For example, philosophical notions without constraints. Different from the talking head type, which only includes a person lecturing/talking one point at a time, animation has more advantages in multiple elements demonstration on only one scene. While the presenter type is also integrated with simple motions (text flying in and out), it cannot be as vivid as the various effects of animation. Animation has various animated characters/elements in the whiteboard, hand-drawn, or modern graphic style…). Moreover, the training video cost is almost the same with talking-head and presenter types.
The only limitation for this type is that you have to carefully choose which vendor suits your needs. It might be a freelancer or a studio. However, they have to understand your concepts in order to develop an effective storyboard and draw appropriate visuals and characters.
The price range for this type (Mid-range): $600 – $1500 for a minute of animation with a detailed storyboard, a carefully consulted concept, and quite a wide range of motions. Depending on the complexity of the animation type and the nature of the project, the price can fluctuate within this range.
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4. Live-action videos
This type is among the highest corporate video pricing of them all. Making a whole movie with cameras, casts and multiple movie scenes for your corporate training is not always an ideal way to make it efficient and effective. Compared to the previous type of animation, this is quite a time-consuming and effort-wrecking way to do corporate training videos. While animation can capture almost any ideas that can be thrown in its way, live-action takes a tremendous effort to elaborate the same idea.
Although it is not a great way to start with your training videos, it is still an option for you if you are willing to create something extravagant or to show your expertise on this.
The price range for this type (High-range): $1500 – $10,000 for a minute (it can get even higher with more difficult production requirements)
5. VR/AR videos
VR/AR is in the trend right now with unlimited applications. You can see them everywhere from training for employees at a high-tech company or a means of entertainment. It will be wise of you to choose this type if your company relies much on operating in a high-tech environment or needs a lot of demonstration. It is quite amusing to join this kind of training session.
VR/AR requires a great amount of time from 3-24 months to finish one video. It is a large constraint for any near deadlines. Set-up devices and let your employees use them are other challenges that you need to keep in mind. This type of video might be more of a burden than a reward within the corporate training context. Also training video prices can vary vastly as the technology required is demanding.
The price range for this type (High-range): $1500 – $30,000 for a minute. Based on the actual requirements about time and other technical requests, the price might differ from what is noted here.
In conclusion, every type of video turns out differently for each case so choose your type wisely before spending. The training video pricing is decided based on the level of complexity, the resources to make, and the effect it can deliver. Don’t hesitate to contact us for more details.