Category Archives: Product Development & Marketing

How to Increase Budget for Your Project

We all know how hard it is to get budget for our internal projects. If you work with strategic departments, including consumer insights and CRM, you’ve had this challenge.

One way we’ve found to increase budget is to get more stakeholders to sponsor your project. It definitely means you’ll have to ponder who might benefit, do a little selling and expand the scope, but isn’t it more fulfilling to make a bigger difference, and get enough money to do it right?

Video is perfect for this because it’s so modular. It’s easy to create multiple versions. Highly informative and inspiring videos are short, simple, visual and emotional. Videos are easy to distribute and well received.

We made some samples below for a typical medical device company. But in truth, this would work for any large company. Initially, our sponsor was the product development division, but with some additional thought, we expanded it. Here’s how we did it:

  1. Take care of stakeholder #1 – Development was our first stakeholder, so we made sure there was lots of footage of the product experience and opportunities for innovation spelled out.
  2. Add Marketing – With some additional interview questions, we simply inserted the emotional quotes marketing needed and cut out the stuff they didn’t. Then, we substituted the development opportunities for marketing-specific ones.
  3. Add Executives – We then shortened it even more, but kept in opportunities we saw for both development and marketing.
  4. Add Corporate Communications, HR and Training – Since this was a profile of an archetypal customer, the whole workforce can be inspired, so we simply took the executive cut and removed the opportunity titles.

All told, six stakeholders instead of one, and the eyes of everyone in the company – all for not much more than the original video.