What is animated explainer video?
Animated explainer videos are short videos that help brands and businesses to explain their offerings in a simple, easy-to-understand and engaging manner. As of late, animated explainer videos have become the marketing tool that many companies opt for to illustrate their complex ideas, products and services. It is a proven marketing method that helps to generate awareness and more leads, improving conversion rates.
Key Factors that define the price
There are hundreds of studios that offer services in animated explainer video production. When there is a choice overload, businesses face a difficult time making an informed purchase decision.
In this article, we will explore the different factors that define the prices of explainer video and the options available in market. We hope by educating on these aspects, you’ll be able to identify where you stand in terms of budget and the options that you can explore in the production of animated explainers.
The Duration
One of the key factors that add to the cost of production is the duration. Animation is a time-consuming process, so the longer the duration of your video, the more time that a studio must allocate to produce it. It’s a direct factor that determines the cost of your video. Having said that, most studios will usually offer a cheaper rate if you order more than a certain duration.
The Style
Another key factor that affects the cost of an animated explainer video is the style of animation. Different styles of animations require different skillsets and talents to produce. Generally, most businesses opt for 2D vector styles as it is cost-efficient and allows a high level of customization. 3D animation, cel animation (hand drawn frame-by-frame animation) and motion graphics are usually on the higher end of pricing as these styles of animation require more time and expertise to produce. If you’re short on budget, you may also consider DIY templates, typography, screencast or whiteboard animation.
Customization
If you own a business, you want your brand to shine. It is easy to achieve with an animated explainer video that is fully customized. So, if you require a high level of customization, be prepared to spend more as studios will have to create assets from scratch based on your branding.
The Production Timeline (deadline)
As mentioned earlier, animation is a time-consuming process. Typically, it takes 5 to 6 weeks to complete a standard digital 2D animation using computer software. It takes even much longer for a hand-drawn traditional animation. If you have a tight deadline, studios will incur a rush fee to prioritize your project. So, it is advisable to take the timeline into consideration when you embark on your project as it is a factor that affects the cost.
The Studio’s Location
The location of studio matters as it directly affects the cost of operation and human resources. A studio based in Southeast Asia typically charges lower as the costs of hiring talents, maintaining an office and so on are lower compared to a studio in the United States. Globalization and remote working make hiring a studio that is based in a different geographical region no longer a myth, especially with the availability of so many online collaboration tools.
Team’s Expertise
The expertise of a team, as well as the experience speaks volume. If you want a video that has a higher chance of success and better customer service, opt for a studio with a portfolio to boast about. However, do bear in mind that you might have to pay more for such quality and service but it will worth every penny.
General pricing of animated explainer videos
Online Tools (DIY)
Typical price range: $0 – $100 Per Minute
There are some free tools that you can make use of to create your animated explainer video. For starters who have no idea on how to create an animation, Powtoon is a good choice as it offers templates built specifically for product promotion. There are also others like OpenToonz, Synfig Studio and many more that you can use for free, while some charges a minimum monthly subscription fee for businesses. However, do note that some of these software will require a certain level of proficiency in video and animation production, so it may be challenging task for some folks. In addition, it can also be limited in terms of customization.
Freelancer
Typical price range: $500 – $4000 Per Minute
If you have a limited budget to spend, and you want to achieve a certain level of customization in your video, one option is to hire a freelancer. There are many sites that allow you to search for freelancers, such as Fiverr, Freelancers.com, Upwork and so on. The prices offered by freelancers also differ according to their expertise, experience and location, as well as your video requirements such as duration and animation style preference. The downside to this is that a freelancer may not be able to offer a full-service production that covers everything (script writing, illustrations, voice-over, etc.). It is also advisable to engage a freelancer with many good reviews and past references from clients to ensure that he or she delivers your video on time, with quality that you expect.
Animation Studios (Mid-Size to High-End)
Typical price range: $3,000 – $80000 Per Minute
If you’re looking for highly customized animation that is tailored specifically for your brand, you should opt for an animation studio that offers full-service production.
Typically, these studios charge US$3,000 and more for a 1-minute 2D animation. The cost depends on a few factors such as the style of animation you prefer, where the studio is located, the expertise of the team and so on. There are also studios that charge at a cheaper rate but beware that there are many who make false claims on the work they produced but end up delivering subpar work.
There are higher end studios that charge US$12,000 to US$80,000 per minute of animation. These studios are the top players in the industry and are well suited for big brands with a good budget to spend on their animated video production.
Cost vs Quality
As a standard rule of thumb, animation pricing is often directly proportional to the final quality of work. Videos that are cheap to produce also tend to look less superior that those that are priced higher.
We highly suggest that you should check out the studio’s portfolio and verified testimonials from past clients to pick the one that best suits your requirements and budget.
Since the process of creating animation is time-consuming and skill-intensive, it is often a costly affair. The higher your requirements, the more budget you must set aside to create your video.
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