Ethical Marketing Done Right
A few weeks back we talked about what ethical marketing is and why it matters, now we want to delve into how to make it a part of your company. The best way to promote ethics in a business sense is to ensure it’s an integral part of your company’s culture and values. While thought-through values, mission, and vision statements are good foundations, ethical companies live out these values every day, with their leadership team setting the example and incorporating them into all aspects of the business.
Here are a few general guidelines to follow:
Always be transparent, and lead with accurate, honest information.
Avoid at all costs deceptive marketing or advertising practices.
Never compromise the privacy of customer data and information.
Practice and promote safe manufacturing and use of your products and services.
Let’s look at each more closely.
Be transparent.
Nowadays lying to your consumers is the easiest way to lose their loyalty, not to mention the internet makes it nearly impossible. Deceptive marketing practices will only get you so far. Consumers respect organizations that can prove their positive impact, as well as those that are a work-in-progress but share a realistic action plan and show continuous progress towards their sustainable goals.
Avoid deceptive marketing.
Marketing techniques involving surrogate advertising, puffery, exaggeration, and unverified claims may work in the short term, but will just deter your brand image and customer trust in the long haul. This is particularly relevant when you consider it costs five to 25 times more to acquire a new customer than to retain an existing one. Brand loyalty is critical for the long-term success of organizations.
Protect your customer’s privacy.
Safeguarding your customers’ data is key to earning their trust. It is as simple as, if they can’t trust you with their personal information, why should they trust your product or service will deliver? Ensuring you have in place top-of-the-line security measures and that everyone in the company follows the security guidelines is inextricably linked to your internal ethical practices.
Choose environmentally safe options.
The planet is in crisis mode. The Environmental Protection Agency reports that, humans consumed more resources than in all previous history combined. The cause for environmental concern is at an all-time high. Consumers are demanding businesses that use environmentally safe practices when producing and distributing products or services so they can put their money toward good causes.
At Probity we wholeheartedly believe that you don’t have to sacrifice revenue for your morals and values. When companies embrace ethical marketing not as a cheap gimmick they can exploit to drive sales, but as a core part of their mission and values as organizations, they extend the lifetime of their consumer base, increasing their revenue.
Ethical marketing relies on the commitment to continuing education, campaigning, and activism. At its core, it’s about helping consumers make better, more conscious choices about the products or services they buy, and changing the way we think about how goods are provided.
Incorporating ethical marketing into your overall business strategy will enable you to not only attract the right customers but to build meaningful relationships with them in the long term. Don’t know where to start? Contact us, we’d love to help you find your footing.
