intrinsic vs extrinsic value

There are two ways that any piece of content can create value: intrinsically and extrinsically.

Extrinsic value is like a treasure map. It is not very valuable in itself, but rather it points you to where something of value can be found.

For example, an advertisement letting you know about a deal at a restaurant, or a customer testimonial that gives you more confidence that a particular business can deliver on their claims.

Intrinsic value is like the treasure chest. It contains something valuable within itself.

Think of an informative how-to video that helps you solve a problem or learn a skill, or a film which gives you a sense of nostalgia or changes your perspective in some way.

When it comes to your business, the more intrinsic value your customers or prospects feel that they have gained from your content, the more they already feel a debt of gratitude when it comes to their purchasing decisions.

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P.S. These forms of value are not necessarily mutually exclusive. And, since value is subjective, it’s also possible for a piece of content to contain neither form of value for a particular person.

But we want to avoid that as much as possible, because that’s wasting time.

the meta-value of content

Beyond the intrinsic or extrinsic value that your content ought to provide to your customers in some way, there is a third dimension of content value which we might call meta-value. This is the value that you the creator get out of the act of creating the content itself.

Whether it’s learning a niche topic in your field better to write a blog post, or reconsidering the aesthetic appeal of your storefront before taking a photo, intentional content creation should mean improving yourself, your understanding of your offering, or your ability to deliver it in some way.

Being in the target-market of your own content is a good litmus test for the value you are generating. After all, if you have gained something by the creating of the content, chances are that someone else can benefit from it as well.

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P.S. Being in the target market for your own content still doesn’t guarantee that your content will provide value to someone else. So to avoid creating entirely self-serving content, it’s still important to either verify its value another way, or else give the audience the opportunity to opt out.