www.trinityp3.com Speaking at the #VividSydney Ideas session by MediaSocial 08 was held on Thursday 2 June at the magnificent Cell Block Theatre - National Art School, Forbes St, Sydney. Darren Woolley, Global CEO and founder of TrinityP3 Marketing Management Consultants spoke on the Value of Creativity. Providing a political, business and marketing industry context to the concept of creativity, innovation and imagination, Woolley provided a financial and economic view of the current value of ideas and provides advice on how ensure the value of the idea is realised.

1. marketing management consultants
The value of creativity?
Darren Woolley
Founder & Global CEO
June 2016

2. marketing management consultants
The value of creativity?
Everybody is talking about
innovation, creativity and
imagination.
But what is the value of innovation
and creativity?
Lets follow the money to find out.

3. marketing management consultants
The Australian
Government is
investing $1.1 billion
in the “Ideas Boom”
over 4 years

4. marketing management consultants
The Idea Boom initiative is less
than $300 million per year.
The focus according to the website
is technology focused, specifically
internet and software.
Are they encouraging innovation
and creativity or looking for the
next Facebook or Uber?
There is more to the Creative
Industries than technology.

5. marketing management consultants
Australia’s
creative industries
contribute
more than $45 billion
to GDP.*
About 2.1% of GDP
• Software Development /
Interactive Content
• Writing, Publishing &
Print Media
• Design & Visual Arts
• Film, Television and Radio
• Advertising & Marketing
• Architecture
• Music & Performing Arts

6. marketing management consultants
$45 billion is significantly more
than the $300 million a year the
Australian Government is
investing.
All of these Creative Industries
contribute to GDP and all have the
potential to increase exports.
The Idea Boom was announced at
the same time Government funding
of the Arts was announced.
• Software Development /
Interactive Content
• Writing, Publishing &
Print Media
• Design & Visual Arts
• Film, Television and Radio
• Advertising & Marketing
• Architecture
• Music & Performing Arts

7. marketing management consultants
Creative Industries
employ more
than 600,000 people
in over 120,000
creative businesses.
About 3.5% of the Australian workforce

8. marketing management consultants
Advertising media
revenue
is predicted to hit just
over $13.5 billion in
Australia this year.
The total is closer to $18 billion

9. marketing management consultants
Advertising is one area where
creativity is valued commercially.
Or is it?
Advertising agencies even have a
special department titled
“Creative”.
But how much of the advertising
budget is paid for the idea and how
much for the implementation?

10. marketing management consultants
There are
557 advertising
creative award shows
globally*
According to Adspur

11. marketing management consultants
Creativity is clearly important
because they have so many awards
to recognise it.
In fact Award Shows are big
business with the company behind
the Cannes Lion Awards recently
valued over $1 billion by IPO.
But the most significant creative
award is not for advertising.
Australia is #1 on the Global
Creative Index.

12. marketing management consultants
What percentage
of the $18 billion
expenditure
pays for
creative concepts and
idea generation?
?

13. marketing management consultants
If you think it is 5% then you
would be wrong.
It is less. Much less.
The is a lot more money spent on
the implementation of the idea and
almost nothing on the actual idea.
But without the right ideas the
implementation is pointless.
So how much is an idea worth?
5%

14. marketing management consultants
A lot less.
>1%

15. marketing management consultants
While the number of award shows
suggests creativity is important, the
investment in ideas does not.
Business will pay for the
implementation but it is rare to pay
the value of the idea.
Perhaps this is why they say “Ideas
are a dime a dozen”
But if we are to have an Ideas
Boom then we need to value Ideas.
>1%

16. marketing management consultants
“A principle isn’t a
principle until it cost
you money”.
- Bill Bernbach, Co-Founder, DDB

17. marketing management consultants
If the principle is getting paid
what the idea is worth, then…
Identify the commercial value of
your idea
Don’t give away your IP
Negotiate opportunities for sharing
in the financial value created
Stand by the principle even if it
costs you money

18. marketing management consultants
If the principle is paying for the
value of the ideas, then…
Be open to sharing in the financial
value created with the idea creator
Be willing to support ideas with the
best finacial potential
Accept that ideas may fail
Be willing to stand by the principle
even if it costs you money

19. marketing management consultants
Thank you
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