This is a question I get asked a lot and there's obviously no immediate answer. It's quite possible to get a quality video made for a few hundred pounds, but it's equally possible to spend much, much more.
Many of you will be inundated with "we can make cheap video" posts on your Social Media timelines, on further inspection most of these offer animated videos using templates with very little customisation possible, but if you don't have the budget and want to start with a basic video presence then they can be a great way to start using video in your marketing. It's common knowledge that having any video on your website can improve Google search rankings so even a low cost templated video will be useful. In reality though you probably have to spend more to make a film that truly engages your customers and realistically this may cost considerably more.
Modern camera technology and post-production software has helped lower costs and increase accessibility, it's amazing what great results can be achieved with a GoPro or an iPhone, in fact the car maker Bentley has made two films using only iPhones and iPads However these films clearly have a LOT of creative input behind them so I don't imagine they were particularly low cost
Simple interview or blog films with some supporting footage included can be created for just a few hundred pounds, whereas more complex product or training films can cost in the thousands.The best approach is to decide exactly how much you have to spend and then talk to Agencies or Production Companies to see what that budget will get you. The low cost of entry has meant there are now a plethora of video companies out there and competition is fierce, but sometimes lower cost can mean compromise in quality both visually and creatively so it's wise to spend some time finding a business with experience that is a good "fit" with yours.