Creative cash, value voids and posthumous pop
Bright Space Communications
Award winning strategy-led creative consultancy to help businesses communicate value where it matters most
This week finding value, creativity and success were our topics of conversation.
Arguably, finding and mastering the former two (among others) leads to the latter. When a business is in its start-up phase, it can often be information overload and identifying where to prioritise time is crucial. Bright Space Adviser Lee Lam shared her insights for finding value at the starting blocks and prioritising stakeholders.
Historically, there’s been more focus on product over value or as Lee puts it “selling the thing rather than the company.” But that's working less and less she says because “people are now more sensitive to what brands stand for." New research published this month by BCW backs this up, finding a serious values void between audiences and business.
Creating values is a strategic process that requires the right expertise. At Bright Space we find companies are either creating values they feel they should have, would like to have or they allow other comms agencies to determine values for them. It's a complex and intricate task developing values. They have to be integrated with business strategy, otherwise the values are meaningless, insincere and a waste of resources.
On that note, here's our Friday Five.
?? The first 12 months of new business is, as Lee Lam puts it, “tumultuous at best.” The Bright Space Specialist Adviser shared her thoughts on where to start, getting the balance of value and brand right, what stakeholder receives the priority pass and reputational risks. Read her start-up insights here.
?? BCW’s ‘Age of Values 2023’ report has (unsurprisingly) found there's a grown "values void" between audiences and business and government. The gap is disengaging younger generations especially. A problem yes, but also an important opportunity to make a wrong into a right by creating clear values for businesses and communicating them transparently. Read the report here.
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?? For the first time in nearly a decade, iconic brand and household name Coca-Cola, has regained its position in the world's top 10 most valuable brands. According to Kantar, Coke’s brand value grew 8% in the past year. The company’s CFO John Murphy explains what they did to achieve a “fast start” to 2023.
?? UK Prime Minister Rishi Sunak opened the government’s purse this week and wrote a ￡50-billion cheque to the creative industries, which they say, will develop into one million new jobs. Here’s how the cash will be spent.
?? 53 years after their last song release Sir Paul McCartney announced The Beatles will drop their final record later this year. The track was abandoned after John Lennon was killed and couldn’t be revived thanks to its poor audio quality. Fast forward the cassette tape a few decades and AI has been able to posthumously finish the mix. Glorious as it may be, it raises many legal and ethical questions about AI in the creative space. Find out more here.
Or if you're mooching in a sunny park this weekend and want company, take a listen to McCartney's interview with the BBC's Martha Kearney as they wander through his upcoming photographic exhibition at London's National Portrait Gallery.
Until next week,
The Bright Space Team.