This is akin to the question “how much will a house cost?” There are many variables—the location, size of the house, quality of construction, amenities. So the price range for videos, like houses, is big.
 
Different business needs call for different kinds of videos, and each of those have unique costs. Here are some things that will impact the cost of your video:

• What kind of video is it? Basic interviews with b-roll? Animation? Whiteboard? It’s much more time-consuming to create a whiteboard video, since it requires custom drawings, than an interview video. Animations add cost. Complex graphics add cost.

• How and where will it be shot? Flying a crew to the outback of Alaska will add cost—as will shoots that require more days.

• Does it require professional talent, like a narrator or custom music? Adding narration requires writing a script (not necessary for an interview video,) researching, auditioning and recording the voice talent. Adding custom music requires composition and production of the song to fit your piece exactly. Both of these add cost.

• How much creative effort is involved? The creativity that goes into a Super Bowl ad isn’t the same level of creativity required for a CEO’s video update.

• What level of post-production is required? The possibilities here are almost unlimited, but most of them add cost.

• What kind of talent and equipment is needed? A simple concept can be executed by a freelancer with a camera and basic editing skills. Add complexity, and you need more equipment (lights, cameras, software) and talent to pull it off.

• What other services are needed? Do you need help developing your brand story before you produce the video? Do you need help ensuring that your video gets seen? Do you need a company that understands the unique aspects of your industry? All of these require broader talent than video production, and can add cost.

So does your house have granite counters and a swimming pool? Or is it a tiny house in your grandma’s back acre? The range of costs is so big, it’s impossible to quote either a house or a video price without knowing the goals, what you want to achieve and your resources (time and money).  But a good video vendor can not only help you decide how video can advance your business goals, but work within your budget to give you those answers—once the parameters are outlined.