MBA296 Guest Teacher: Scott Stratten- Marketing Ethics
Jun 22, 2015
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Scott Stratten, a renowned public speaker and best-selling author, dives deep into the ethics of marketing. He highlights essential dos and don'ts for ethical online practices. Stratten discusses the risks of compromising integrity for sales, stressing how vanity metrics can harm trust. He tackles the ethical dilemmas in social media marketing, emphasizing the need for transparency with influencers. The talk underscores the importance of respecting original creators and maintaining a solid reputation in the digital landscape.
Maintaining marketing ethics is crucial for preserving a brand's reputation, as once compromised, integrity is hard to restore.
Influencer marketing requires clear disclosure of commercial relationships to uphold transparency and protect the integrity of both influencers and brands.
Deep dives
Understanding Marketing Ethics
Marketing ethics revolves around maintaining integrity and transparency while pursuing sales and growth. Once compromised, ethical standards can seldom be restored, as tarnished reputations can spread quickly and affect a business's credibility. Vanity metrics, such as likes and shares, can lead businesses to make unethical choices in pursuit of popularity, prompting them to engage in practices that undermine their integrity. For instance, businesses may resort to 'freebooting,' where they claim viral content as their own without crediting the original creators, thus sacrificing their ethical standing for inflated engagement.
Influencer Marketing and Disclosure
Influencer marketing necessitates careful attention to disclosure requirements mandated by regulations like those from the FTC. When influencers receive compensation or free products, they are required to clearly disclose this commercial relationship within their content, rather than burying it in separate pages or posts. For brands seeking endorsements, it is crucial to reinforce this disclosure responsibility, as many brands mistakenly believe it falls solely on the influencer. Ensuring that this integrity is kept within the promotion is essential, as a lack of transparency can damage both the influencer's and the brand's reputation.
Valuing Creative Work and Content
Investing in quality content is essential in building a reputable business, as cutting corners with low-cost solutions often leads to subpar results. Good content, whether written or visual, demands proper compensation to reflect its true value, and failing to do so can harm a brand's integrity. For instance, using watermarked stock photos or freely obtained articles can tarnish the perception of professionalism. Ultimately, respecting creators and ensuring fair compensation fosters a strong ethical foundation, affirming a commitment to quality and respect in the marketplace.
We’re giving you a kick-butt show in today’s episode with our Guest Teacher Scott Stratten, a renowned public speaker, best selling author, and the co-host of the hit podcast, The UnPodcast. He’s going to teach you about the ethics of marketing and why you should look closely and carefully at what you put out there in the world- especially online. We can’t wait for you to listen up so let’s get started!