The phone rings,
Producer: “Hello. This is [Producer’s name] from Eden Sky Productions speaking. How can I help?”
Caller: “Good morning. I am phoning from [Organisation’s name]. We want to do a video project, but we don’t really have a budget yet. Can you give me quote for the project?
The call continues…
It's not uncommon for this kind of call to end without providing any more certainty than when it began. This happens frequently, and it's completely understandable. After all, many buying processes in various industries start this way. In this blog post, we'll delve into why having a known budget for your video project is crucial for your organization, and how it can enable you to accomplish your communication objectives.
As a non-profit or social enterprise, you're likely working with limited resources. A budget can help you maximize the resources you have and allocate them effectively to create a video that meets your communication goals. By setting clear financial limitations upfront, you can prioritize the most critical elements of your video and avoid wasting resources on unnecessary features.
Non-profits and social enterprises often use video to communicate their impact to stakeholders and supporters. A budget can help you create a high-quality video that effectively showcases your work and engages your audience. By investing in quality production and post-production services, you can create a video that effectively communicates your mission and inspires action.
Creating a video can be a complex and time-consuming process, and it's easy to underestimate the costs involved. A budget can help you manage your expectations and avoid surprises along the way. By working with your production company to create a plan that fits within your budget, you can ensure that your video is completed on time and to a high standard.
Fundraising and Grant Applications
A budget can also be useful when applying for grants or fundraising for your video production project. By having a clear understanding of the costs involved, you can accurately communicate your funding needs to potential donors and grantmakers. A detailed budget can also help you demonstrate the impact of your video and justify the costs involved.
Collaborating with Your Production Company
By communicating your budget to your production company, you can work together to create a video that meets your communication goals and fits within your financial means. Your production company can provide guidance on how to achieve your goals while staying within your budget, and can help you make trade-offs where necessary. This collaborative approach can help you create a video that effectively communicates your mission and engages your audience.
Having a budget is essential for non-profits and social enterprises looking to create a video to showcase their work and impact. It can help you maximize resources, communicate impact, manage expectations, fundraise, and collaborate effectively with your production company. By establishing a budget upfront, you can ensure that your video is completed on time, to a high standard, and within your financial means.