Monetisation in the creative industry. Do ideas make money?

Since the early 2000s the growth rate of creative services has increased by 17% year on year. Today, the volume of the global creative industries market amounts to around $104.2 billion and it may exceed $1T by 2024.(1) Pretty impressive, right?

What we can define the “creative economy” will be the next generation economy, where the main value to capitalize on is new ideas. It’s an economy based on innovation, on creative products and services. As creative agencies, we’re fully part of this industry. By means of our creativity, we add value and purpose to our clients.

Research shows that organizations can increase productivity and business by 78% by investing in creativity.(2) This is because a truly creative idea will correspond to a convincing truth, capable of creating consensus and making all human beings understand it. Creativity and ideas do a lot more than just driving sales or raising awareness: they bring brands closer to their audience, reframe a brand’s identity, push the competition aside and can even change the course of an entire business.

But how can we convert an idea into money for our clients? What is the process? Here are some steps:

1. Define

The first step is to identify the right balance between a brand’s creative vision and ambition in order to create a relevant  and original narrative. As creative agencies, we need to help our clients see the ideas we present in action by making them see their benefits at large and how the world would be different because of your ideas. As we all tend to think in pictures, so a good tip could be to show your expected outcome in a vivid three dimensional picture – videos, mockups, graphics. In this way your message will be more compelling.

2. Engage

Your client should always participate in the creation process and milestones. This will allow you to obtain important insights, confirmations, answers, and relevant perspectives about its market, environment and expected results.

3. Implement

You need to provide clear evidence of the impact you are making on the client’s revenue and investment. Decision-makers need to know the value of your design and ideas to decide to invest in them. So make sure you clearly outline business objectives and set your client’s expectations.

4. Inspire

Creativity often entails getting out of your comfort zone. Risk-taking is a necessary ingredient for innovation and growth. Therefore, providing an environment where clients - and teams - are encouraged to think differently can be highly beneficial. While it can be tempting to simply tell your team to be creative and innovative, creativity is more than just a state of mind: it's a culture, a platform of knowledge, and it requires tools, empathy, research, focus and passion.

All this also explains why creative ideas are so rare: they require hard work to be discovered, defined and implemented. So don't forget: in the creative industry monetising means starting with a good idea. Make ideas, make money!

  1. Fonte:
  2. Fonte: Adobe State of Creativity Global Report

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