Last week, we introduced the idea of placemaking. We discussed how it can add an extra dimension to the social value your organisation is already achieving. But, unfortunately, it’s not always that simple. Aligning social value and placemaking brings its own unique set of challenges.
We thought we’d spend today exploring these. As well as offering our advice for overcoming them to take your social value approach to the next level.
A common understanding
You need to understand what placemaking is and what it means to you in particular. Then you need to assess how it should interact with your social value initiatives. After that, you have to ensure everyone else recognises this commitment.
With social value and placemaking, we’re dealing with abstract concepts. We all know what it’s like to experience a place that’s great to be in. Or what it means to have a high quality of life. But portraying this in terms of tangible inputs and outcomes? That’s where it gets tricky.
Without this understanding of what it means to you, it’s hard to get everyone else on board with your ideas. There’s a risk your efforts will sit in a silo, only handled by those directly involved with social value.
Many of us know that our local communities matter. And that social value is important. But this is about going one step further. Engaging your workforce with your efforts means understanding what social value and placemaking look like in practice. Who are the beneficiaries? What makes an initiative relevant to an individual building or area? How do you ensure relevancy without restricting your potential impacts?
💡 Top tip: In the absence of industry-wide understanding of social value in the built environment, why not create your own? Think about what placemaking means to your business. Think about the core benefits high-quality places should offer to residents. Work to create your own framework for social value in the built environment. Then be sure to share this across your organisation.
The challenge of measurement
Finding a way to measure and analyse the impact of initiatives is one of the biggest challenges you’ll face. After all, it’s easier to find an equal monetary value to getting 10 people off the street than the impact a local park has on a resident’s mental health.
With placemaking, we’re looking at how local areas improve people’s lives. But how do we put a figure on happiness? Or health?
Measuring the social value of built environments comes down to measuring wellbeing. But, while frameworks such as WELLBY provide a nuanced way to quantify wellbeing, your best bet is always going to be a blended approach. Combine cold, hard figures with real human stories. Why not try asking your beneficiaries how you’ve helped them?
Community engagement
To change local communities for the better, an area and its residents need to be at the forefront of your efforts. Even the greatest of intentions can’t help you predict what local residents will want and need most. This is why regular engagement with the people you’re trying to help is essential.
And not only when designing new initiatives. It’s just as important to capture feedback during and after an initiative. Did the final impact meet expectations? Were there any adverse impacts? What small tweaks would help you deliver even more value?
💡 Top tip: Aim to gather insights and feedback from residents at all stages of your initiatives. Maintaining these channels of communication will no doubt take extra time and resources. But when you consider the fact it’ll help you achieve greater SROI and make more informed decisions, it’s well worth it.
Changing demands
Much like we saw vast changes thanks to the pandemic, what we demand from our spaces will continue to evolve. And this makes it important to adopt an agile approach. It requires an ongoing commitment to learning and doing better.
What’s valuable for residents now won’t be relevant forever. So how can you put systems in place to ensure you’re always evolving your approach? How will you stay flexible? This is where regular community engagement will help, ensuring you keep your finger on the pulse of what your beneficiaries need.
Placemaking provides a new lens through which to design and analyse your organisation’s social value. But there are a few barriers to entry you’ll have to tackle first. At Impact, we’d love to help.
Impact allows you to quantify your impact like never before. Effortlessly measure, monitor, and analyse your social, environmental, and governance outcomes. To find out more, schedule a demo or get in touch with the team on 0161 532 4752.