Introduction:
We kick off the series of articles on The Value System. Patrick Kizny discusses the fundamental issues plaguing the creative industry, focusing on the significant disconnect between creatives and their clients. He emphasizes the need for a revolution in how value is understood, communicated, and realized. All that, to come up with a picture of a better world, and tools to charge ahead.
Key Takeaway:
The Creative Industry is Broken
The current ecosystem suffers from a misalignment in recognizing, communicating, and realizing value. This hampers the effective flow of value, resulting in missed opportunities and suboptimal outcomes. Looking at it from the perspective of Value Chain and Value Flow, can help you bridge the gap, unlock better client relationships, and evolve your creative firm.
Assumptions Challenged:
1. Clients understand the value of creative work
2. Creatives are confident in communicating the value they create
3. Procurement processes are efficient and straightforward
What’s Broken?
Lack of Alignment on Value
- Significant gap in understanding what constitutes value
- Misalignment leads to unmet expectations and unsatisfactory outcomes
Lack of Recognition of Value
- Both clients and creatives fail to recognize the true value being exchanged
Systemic Problems in Realizing Value
- Creative potential is restricted by left-hemisphere dominance, corporate hierarchies, and data-driven decision-making
Why is it Broken?
Understanding of the Value Chain
- Creative firms often lack clarity about their position in the Value Chain
- Without a clear map, firms struggle to plan for growth, marketing, and new business
Recognizing Value They Create
- Creatives often lack business knowledge and confidence in recognizing and articulating their value
Communication
- Creatives often lack skills to articulate their value effectively
- Fear of discussing money and real client needs hinders effective communication
Recognition of Value by Clients
- Clients' procurement processes often devalue creative work
- Bold goals get lost in the brief and are undermined by procurement procedures
Deep Questions for Further Reflection:
1. How can the creative industry innovate its approach to value alignment and procurement to foster healthier, more productive relationships?
2. Why do so many clients fail to recognize the true value of creative work?
3. How can creative firms better understand and articulate their value propositions?
4. What steps can creative firms take to ensure clear and effective communication of project expectations and success criteria?
5. What if procurement processes were designed to enhance, rather than erode, the value of creative work?
---
Closing notes
Thanks for tuning into Futurecrafting™ Insights. If this resonated with you, share it with peers to help bridge the value gap in our industry.
Visit futurecrafting.express for more insights and subscribe for exclusive content. Reach out with any feedback or questions.
Stay prolific, and until next time, keep futurecrafting.
---
Hosted by: Patrick Kizny
Produced by: Futurecrafting™ Express
