Ethics in a recession – an impractical ideal?

Let’s be blunt here, and start the way I hope (these blogs) to continue:

In the minds of most Irish consumers, it’s the unethical activities of business and politicians that has created this current recession.

It therefore follows that consumers are cynical about business and brands’ activities, intentions and marketing. So whilst the consumer movement towards ethics has been growing steadily over the years, the recession has actually been a catalyst to push this issue forward.

Brands therefore need to re-engage with consumers with a new and appropriate message. Messages that evoke values like transparency, honesty, respect, fairness, citizenship and accountability will resonate with this disillusioned audience.

Because it is a modern day truism that "doing good is good for business". The brands that can embed ethically-based values and conduct their business responsibly will reap the rewards that ethical behaviour sows: customer loyalty and lower attrition rates; employee commitment and greater productivity; shareholder interest; reputation capital and competitive advantage.

Every brand and business has the ability to be more responsible, what they have lacked this far is the appetite. But with increasing stakeholder power, and consumer willingness to act according to their conscience (think Fairtrade, organic and green) ethics is not an ideal but a reality that should be on every brand’s agenda.