Benefits of Ethical Decision Making in Marketing Projects
Businesses are always looking for new ways to improve their appeal and reach out to new customers, whether it’s with new product launches, quirky adverts or discount codes. But these aren’t the only effective ways that you can reach out to a wider audience, and gain new custom and brand loyalty. One factor that proves to be a big draw for customers is ethical decision making. It’s an easy, controllable way of making a business more appealing to new people.
Ethical decision making can be emphasised within a marketing campaign. From re-using materials to enforcing more ethical behaviour within your organisation, it can be hugely beneficial. Not sure how? Well, this post will cover the various benefits of ethical decision making in marketing projects.
- Improved Productivity and Teamwork
- Strong Public Image
- Build Customer Loyalty
- Retain Good Employees
- Avoid Legal Problems
Workplace ethics are integral in increasing productivity and teamwork amongst a workforce. It helps in aligning the values of the business with those of their employees. When employees feel as though their values, morals and beliefs are aligned with their company’s, they’ll feel more motivated to work harder.
In addition, employees will feel more comfortable working for a company that follows good ethical practices. This will improve their productivity even further.
When a business incorporates ethical decisions within their marketing projects, they earn a lot of respect and form a strong image with their target audience and in the public domain as a whole. The public is more likely to want to buy from businesses who behave ethically as opposed to those who don’t.
For example, a business might prioritise cutting down on wastage and re-using materials to reduce their environmental footprint.
The public would see that business as one that operates with honour and integrity, and clearly values the welfare of its employees, the public and environment over profits. The business will then be seen as more trustworthy and potential customers are more likely to want to be associated with the brand.
Which leads us on nicely to customer loyalty. Consumers may let a company take advantage of them once, but if they believe they have been treated unfairly, such as by being overcharged or buying a product that doesn’t last for long or harms the environment, they will not be repeat customers. Having a loyal customer base is one of the keys to long-range business success for many reasons, including the fact that keeping an existing customer is more cost effective than acquiring a new one.
A reputation for unethical dealings can severely hurt the company’s chances to obtain new customers. This is particularly important in this age of social networking as dissatisfied customers can quickly turn to social media and broadcast the negative experience they had to a wide audience.
Good employees are the ones you need to keep. Every business knows that. There are several keys to keeping them, including ensuring that they’re recognised fairly for their work and dedication. Career advancement within the company to be based on the quality of the work they do and not on favouritism.
Another vital key is keeping your employees in the loop about the company. Employees want to be part of a company whose management team tells them the truth about what is going on, such as when redundancy or streamlining could be taking place. Companies who are fair and open in their dealings with employees have a better chance of retaining the most talented people.
At times, a business may be tempted to cut corners in pursuit of profit, such as not fully complying with environmental regulations or labour laws, ignoring worker safety hazards or using harmful, cheaper materials in their products. The penalties for being caught can be severe, including legal fees and fines or sanctions by governmental agencies.
The resulting negative publicity can cause long-range damage to the company’s reputation that is even more costly than the legal fees or fines. Companies that maintain the highest ethical standards take the time to train every member of the organisation about the conduct that is expected of them.
Find Out More About Ethical Marketing…
So, now you know more about the benefits that ethical decision making within your marketing projects can have, you must be wondering about how you can implement these into your own projects.
Well, if you’re not sure, we’ve created a free guide explaining all the different decisions and actions you can take to make your business massively more ethical on the whole. Whether it’s introducing simple procedures like installing energy saving appliances, to larger decisions like choosing the right ethical supplier, it’s all in there.
Download your copy below and take the first step towards making your business a more ethical, eco-friendly organisation.