Ethical marketing is a good idea for any serious-minded businessman or businesswoman who wants to keep up with the changing trends within the markets and consumer demands. Without it, it may be tough to keep up. Let’s take a look at ethical marketing, what it is and what it means for you.
What is Ethical Marketing
Businesses utilize ethical and digital marketing strategies to generate the interest of consumers and build stronger relationships. They first have to identify the need; then they go about creating a plan to meet that need with their services or products. Some examples include the essential oil industry and TOMS shoes.
Not only are the companies marketing their goods, but they are focused on being socially or environmentally responsible while benefiting the consumer. Essential oils industries offer jobs to many in regions where jobs otherwise would be difficult to find, like Africa.
TOMS provides a child in need a pair of shoes each time that a pair is purchased, and many of their shoes are environmentally friendly. TOMS also uses solely digital marketing reducing their carbon footprint. These are great examples of ethical marketing.
More and more companies are looking to be ethical in all ways possible. According to Kabbage, “sponsoring a charitable program and volunteering your business’ time are great ways to raise awareness about a specific cause and also promote your business in partnership with the organization or event. You can spread the word about the charitable event by posting on your social media platforms and your website.” That being said, simply spinning environmental claims won’t help your business, there has to be action, something tangible, backing your marketing campaign.
Why it Should Matter To You
With more and more consumers being drawn to ethical products, ethical marketing is a highly successful strategy. The food industry in particular is an area where people demand to know the source of origination and conditions in which their food sources were raised or grown. Many are looking to organic options. They expect to be able to trust the labels and marketing campaigns they are offered.
If these marketing campaigns are in any way false or unethical, the trust of the consumer can be forever lost. According to doTERRA, “consumers are demanding to know traceability for their products.” Simply put, ethical marketing adds honesty and transparency. If a business utilizes this type of marketing strategy, then they are demonstrating their abilities to be socially responsible and culturally sensitive.
Make sure you have ensured fair labor conditions especially when you are employing people from other countries. Be involved, know who your suppliers are and that they are in compliance with International Labor Organization safety and health conventions as well as monitoring working conditions and abiding by the current child labor laws.
If you want to be focused more in the U.S, then support community development projects, causes, schools and so forth. According to PaySimple, “it’s important to look locally and involve employees in the decision. A local charity is likely to have the biggest business impact because charitable donations will be most visible to consumers, and involving employees in the decision helps ensure the team is connected to the partnership.” There is always something you can do to give back.
You can also talk to your followers and customers about what is important to them. Being interactive on social media is a great way to develop the rapport and see what causes are near and dear to their hearts. Being able to focus on the things they care about will make your customer loyalty even stronger.
In conclusion, ethical marketing is critical and seen by many as the moral compass of a business. Those companies who implement ethical marketing strategies and principles and live by them often exceed their expectations.
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