The 6-Point Checklist for Estimating SaaS eLearning Video Costs

Top 10 Tips to Create the Best SaaS eLearning Videos

The 6-point checklist for estimating SaaS eLearning video costs

This guide on the cost of SaaS eLearning videos is made up of two parts:

  1. In the first part, we will discuss their benefits as well as disadvantages.
  2. In the second part, we will talk about keeping the SaaS eLearning video costs down. We will tell you about the various costs involved, how to choose the right agency that is best placed to meet your video content requirement and present a list of reputable video production agencies with their sample work.

So, how much does an eLearning video cost? Let us find out:

Table of Contents

PART I - What are SaaS eLearning Videos?

The term SaaS is an acronym for Software as a Service and refers to an application that is accessed via the internet or other data network.

SaaS eLearning videos are created using professional video content creation software and uploaded to a service like YouTube, Vimeo, or other cloud-based video hosting services.

“A SaaS eLearning Video, in essence, is an online video that is streamed or downloaded without the need for a personal computer.”

A. High-level advantages of SaaS eLearning videos

Before we learn about how much a SaaS eLearning video costs, let us look at the many advantages offered by SaaS eLearning videos because they:

  • Engage better, convert better, and are more compelling than databases of marketing material.
  • Are a low-cost marketing medium and relatively inexpensive in comparison to other marketing mediums.
  • Are less expensive and time-consuming to produce than traditional instructional videos because no physical equipment or software needs to be purchased, which means that the cost savings come from production, not distribution.
  • Are more dynamic than traditional instructional videos, where learners are mostly passive. With a SaaS eLearning video, however, learners can ask questions, use interactive features like quizzes, have discussions with other learners, get their opinions validated, or have a private conversation with a teacher or peers.
  • Help produce an emotional connection that can help customers identify with the company and its products.
  • Enhance the learning experience with a more authentic way of conveying information.
  • Are more accessible for all learners because it is designed around them, not just for experienced users.
  • Offer a multi-sensory experience that is highly personal and often more effective than text-based or static print communications.
  • Allow companies to convey storytelling that builds long-term brand loyalty.

B. An example of a SaaS eLearning video - Content Beta

Let us look at an example customer onboarding video created by us for ManyChat, who help companies to grow their brand by automating their interactive conversations in Instagram Direct Messages, Facebook Messenger, and SMS.

Youtube_icon_new

C. Benefits of using SaaS eLearning videos

A SaaS eLearning video is a short video or series of videos explaining the features and benefits of your software as a service. These videos can be used to increase Conversion rates, decrease support tickets, and increase customer satisfaction.

Video is a powerful method of presenting information because they:

  • Appeal to our natural senses and are an engaging and interactive way to learn with up to 65% more retention than text-based content.
  • Improve conversion rates. Research shows that adding a video to a landing page can increase conversion rates by 80%.
  • Decrease support costs. Customers who view a video are 36 % more likely to use a product, as opposed to only clicking through on a page.
  • Increase customer satisfaction rate. Research shows that web videos increase customer satisfaction by up to 52%.
  • Decrease Customer Acquisition Cost (CAC) in the long run. Companies that use SaaS video marketing can have their total cost of acquiring customers reduced by up to 100%.

D. Downsides to using SaaS eLearning videos

  • They can be expensive because of the high cost of developing and hosting videos.
  • They require ongoing maintenance. Once videos are created, they need to be updated regularly to remain effective.
  • You need to have a good marketing plan and team in place before investing in video marketing.

E. Does your business really need SaaS eLearning videos?

“Should you opt for a SaaS eLearning video?”

The answer depends on your eLearning project and the audience. While there are many sites and platforms for video creation, only some are well-suited for eLearning, and, of course, not all eLearning video services are created equal. If you’re thinking of creating a video for your eLearning course, a few considerations will help you pick the right service.

eLearning Video production is a multi-billion dollar industry that is constantly growing. It is the catalyst in revolutionizing how companies train their employees. With eLearning, companies provide their employees with effective training without having to tie up their managers or supervisors in the day-to-day training process.

Let us look at some statistics from Source:

  • Students tend to take an estimated 25%-60% less time to cover the study material with eLearning compared to traditional learning methods.
  • Since 2000, the eLearning industry revenues have grown by a whopping 900%.
  • Studies show that eLearning helps reduce carbon dioxide emissions by as much as 85%.

To decide which approach is right you might want to consider the following factors:

  • What type of content do you plan to create?
  • What is your budget?
  • How quickly do you want to deliver training?
  • How speedily do you need the videos to be available?
  • How involved do you want to be?
  • How does your organization communicate?

PART II - How much do SaaS eLearning videos cost?

1. Consider the cost of your marketing campaign using eLearning videos

Generally speaking, the main costs include the following:

  • Video production cost: The cost to hire a video production company that can create videos for various social media platforms such as YouTube, Facebook, and LinkedIn. A video production company may charge anywhere from $2,000 – $ 5,000 for a typical project.
  • Video distribution cost: The cost to hire a marketing company that can market videos on your behalf. This cost is typically around $1,000 – $2,000 per month.
  • Social media video production: The amount of money in acquiring new followers and advertising as well as in hiring staff to create content and distribute it on social media sites. This amount can vary widely depending on the scale of your company and the type of content you’re trying to create. A video production company may charge anywhere from $500 – $5,000 for this service.
  • Social media marketing: The cost of generating new followers, advertising, and hiring staff to create content and distribute it on social media sites. This amount can vary depending on the size of the company and how many followers they have.

2. Learn about the benefits offered by a SaaS eLearning video production company

The market for eLearning video authoring tools is dominated by Adobe’s Captivate and Lectora, but their cost can be prohibitive.

This is where eLearning video services are useful as they allow you to:

  • Create complete courses without requiring you to invest in expensive software.
  • Upload your own media or use theirs.
  • Provide useful analytics.
  • Publish your courses to your servers or their company servers.

3. Find out how much they charge

The cost of a service is the price that a company charges for its services. This is different from a contract, which is what the customer agrees to pay for services over a certain time.

Video production services charge for their videos in different ways:

  • Some of them charge a flat rate while others charge per minute of video. The cost depends on the type of video, the number of people needed to make it, and the complexity involved.
  • Some charge based on the scope of their work. For example, a video production service may charge for a single video or a series of videos.
  • Some others charge by the hour, others by the day, and some companies will offer you a flat fee for their service.

There are many variables involved in terms of your needs, quality, duration, etc. Here is a rough estimate for your reference:

  • A ten-minute video might cost USD20,000-60,000.
  • A script and voiceover script may cost around USD2,500.
  • A high-quality eLearning video might even cost as low as just USD499.

4. Compile a list of reputable video production agencies

We have made it easy for you! We feature some of the best players in the business and the services they offer.

For a more comprehensive list of the top eLearning video production agencies and how much they charge you for eLearning videos:

5. Check if the video production agency offers the services you are looking for

We present the 5 respected video production agencies you can hire for your content needs.
We have, of course, included Content Beta in the list, based purely on:

“The quality of our work, the number of prestigious clients we have worked for, and the reputation we have built for ourselves.”

1. Channel 1 Creative Media

Industry: SaaS | Education | Ecommerce

Video type: eLearning Videos | Promo videos | SM videos | Animation videos

Clients: Nestle | Uncle Tobys | National Disability Services (NDS)

Sample work: Coca Cola Amatil – Reminder to the staff to stretch

2. Blue Carrot

Industry: SaaS | Education | IT | Medical

Video type: Corporate videos | Explainer videos | Promo videos | eLearning videos

Clients: Telenor | giz | Takeda

Sample work: SaaS Platform Explainer Video | R4G

Youtube_icon_new

3. Magneto Films

Industry: Tech | SaaS | Finance

Video type: Case Study videos | Explainer videos | Testimonial videos

Clients: hotjar | Bentley | British Council

Sample work: hotjar explainer video

Youtube_icon_new

4. Sparkhouse

Industry: Education | Ecommerce | SaaS

Video type: Animation videos | eLearning videos | Social Media videos

Clients: CoreLogic | SUBARU | Honda Financial Services

Sample work: Teracube 2e Launch Video

Youtube_icon_new

5. Content Beta

Industry: SaaS

Video type: Product demo videos | Product marketing | Video course | eLearning videos

Pricing: Content Beta makes it simple for you by eliminating guesswork about prices. Here is a glimpse of their fixed-price package.

Sr. No. Package Timeline in days Price in USD
1 API/SDK videos 14 1500
2 Onboarding / Customer support 10 600
3 Product demo video 12 900
4 Product explainer 14 2400

For more details and a complete list, check out the Fixed Pricing page or Book a demo call

Clients: Manychat | Rudderstack | tapClicks | Kissflow | and more

Sample work: Product Demo video for Book Like a Boss

Youtube_icon_new

6. Consider using a Learning Management System (LMS) for managing content and users

Whenever you create new content about your SaaS product, you might want to introduce the material to new users to help them with the basics and make it easy for them to learn more about its features and usage.

An LMS handles user onboarding in SaaS exceptionally well. It also helps you to:

  • Keep track of the users’ progress.
  • Create a great onboarding experience for your customers, help them understand your product, and keep them engaged.
  • Introduce your existing customers to your new features, updates, and releases.

List of best LMS platforms

Sr. No. LMS Pricing (Yearly) as of 05 June 2022
1 Thinkific Free | Basic - $39 | Pro $79 | Premier - $399
2 Teachable Free | Basic - $29 | Pro $99 | Business - $399
3 AcademyOcean Standard - $225.00 | Pro - $600 | Premium - $2100
4 Thought Industries NA
5 Intellum NA
6 Northpass NA
7 WorkRamp NA
8 Skilljar NA

Conclusion

We discussed the points related to the pricing and other expenses we need to pay attention to keep the eLearning video costs reasonably low but without compromising on quality.

Before we wrap up, we would like to point out the two ways in which you can approach your business’s visual content creation requirements:

  • Use SaaS eLearning videos or
  • Go for in-house video production.

We being a top SaaS video production house, however, would like to point out two key factors that work in favor of SaaS eLearning videos:

  • You don’t have to worry about expensive equipment, storage, or hiring a video producer.
  • SaaS solutions offer competitive pricing and allow you to scale up as needed.

As with any big decision, the best choice for you will depend on your industry, the needs of your organization, and the resources available to you.

Frequently Asked Questions (FAQs)

Learning Management Systems (LMS) tend to be expensive and can easily cost upwards of $1000 a year. While AcademyOcean and Northpass fall under this category, Thinkific and Teachable offer a free as well as an affordable basic plan.

Customers don’t have to buy the software. They can opt for a subscription that allows them to use the cloud-hosted software This allows users to access the software anywhere over the internet. Other benefits include lower upfront costs, better scalability, and ease of use.

A quick and easy way to capture a new customer’s attention is through a customer onboarding video. A professional onboarding video can even be created using your product docs. With Content Beta’s fixed pricing model, you can get one for USD600 deliverable in 10 days.

In the long run, they pay for themselves. A lot of businesses use online videos for sales training, employee onboarding, employee training, Customer/Employee Onboarding, and process demonstration. They not only save money but also time and effort,

Yes. An eLearning video is a way to present useful information in an engaging and entertaining way to your audience. This means they are ideal for creating product demo videos, product marketing videos, and product information videos.

Content Beta

I hope you enjoy reading this blog post.

If you want my team at Content Beta to help you improve product usage, just book a call.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]