A big job of making marketing more ethical is about becoming aware of how some of our actions have unconsciously reinforced systems of oppression. One of the ways this happens is in the way that marketers use data.
I think this is a really important takeaway not only for marketers but for all business leaders that are trying to use data to set direction.
Podcast mentioned:
How to Embrace a More Diverse Approach to Marketing – Duct Tape Marketing
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In today’s video I’m going to be talking about how ROI – Return On Investment – might become a tool that’s making your business less ethical.
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Where I Heard About How ROI Can Be Oppressive
Now, I was listening to a podcast episde on the Duct Tape Marketing podcast, about how to increase diversity in your business or something like that, and the whole point of it, and one of the things that I really took away from this episode, was that ROI can become a tool that’s increasing oppression from businesses.
Oppression Makes Sense When You Just Look at The Numbers
How this works is that if a business is constantly focused on the return on investment – the money put in having to match up to money out – it results in a business becoming really focused on making money. And then they stop focusing on things like benefits to the community and how the business can serve the community and serve people around them. Ultimately, they stop focusing on how they can serve to break down the barriers that are in the way for minorities and for anyone who is disadvantaged, because it just makes sense when you look purely at the numbers.
Now, this doesn’t mean that we throw ROI out the window. It doesn’t mean that we have to ignore return as a business. If anything, like, you must – you must – always be focused on the return that your business has.
So, How Can We Use ROI Ethically?
But the point here is that we need to start looking at return on investment as more than money. As more than profit. We need to be okay with putting investment in and the return being building a better business and contributing to the community.
Because when we do that we will be contributing to a better world.
And I think this needs to be a priority for all businesses. One of my values is “Sustainability is Not Optional“. We all – every single business in the world – need to start putting sustainability and fighting oppression and the Sustainable Development Goals at the forefront of all of our businesses.
This concept of return on investment is one that really needs to be tweaked in the minds of business owners so that we start looking at it as that return can be a benefit to all, and not just our own business.
I hope that you enjoyed that video a little bit about business ethics if you disagree, if you have a comment on it, if you agree, I would love to hear from you. Please comment and let me know.