Creative Measurement: Part 2 of our 4-part series
Last month we discussed the complex series of analysis we perform in our minds, nearly instantaneously, when we “measure” the value of creative work. This process results in an opinion, and determines how we react to the materials we’re viewing. Read Part 1 here if you missed it.
I believe it’s possible to document a framework of the specific analytical evaluations that anyone conducts during this process. Then it would be possible to leverage a working knowledge of that framework to inform how work is created, to increase the likelihood that it would be highly valued when observed by an audience. The framework combines personal analysis across 3 key areas, using a mathematical formula to compute a result.
> Cv is Creative Value: the final result
> Iv is Intrinsic Value: the monetary worth
> Ev is Expressive Value: the content included
> Pv is Provocative Value: the challenge posed
This month we’ll explore 3 key considerations in determining intrinsic value, which relates directly to the ability to exchange something for money. We can predict, with a high degree of certainty, how a viewer will measure intrinsic value based on their demographics.
1. Materials: The use of highly valuable materials (precious metals, papers, exotic woods, etc.) provide an easy opportunity for evaluation, forming the foundation for the most obvious measurement of intrinsic value.
Hi Value: Diamond. Gold. Porcelain. Leather.
Lo Value: Particleboard, Newsprint. Plastic.
2. Craftsmanship: Well-created work is the result of intense laborious effort, which requires a high number of man-hours to execute. It’s easy to equate time with money based on hourly rates for the work, providing a secondary and essential evaluation.
Hi Value: Letterpress. Porsche. iPhone
Lo Value: Photocopy. Tract Home. Yugo.
3. Renown: The reputation of the creator leads to the concept of scarcity, because limited supply is also easily equated with cost. A person cannot create unlimited creative product in a lifetime. The classic relationship of supply and demand is heavily driven with a renowned author for any creative work.
Hi Value: Picasso. Gehry. Ruscha. Bono.
Lo Value: Anyone Unrecognized
I believe the formula for Intrinsic Value directly parallels the equation for Creative Value:
Intrinsic Value = Materials + {Craftsmanship x Renown}
This equation accounts for the fact that well-crafted work from highly renowned artists can be highly valuable even though their material worth may be negligible. That’s why a Picasso line drawing on paper can fetch huge sums; a Prada vinyl wallet can be pricey; and a gold necklace from a local artist is priced by weight. It also explains why a ticket to see the Rolling Stones is more expensive than a seat at a movie. This is the nature of Intrinsic Value.
Now, let’s return to the original formula for Creative Value. In the final analysis, Intrinsic Value plays a relatively small role in the measurement of creativity. I believe that the concepts of Expressive and Provocative value are so powerful that their impacts multiply … as a result, they can easily outweigh Intrinsic Value. Next month, we’ll continue to explore the creative measurement analytics in Expressive Value.
What do YOU value? Let us know on our Facebook page or drop me a note with your thoughts on the Framework for Creative Measurement.