Ethics Schmethics? Not any more

Ethics. It is one of those concepts in which the default human setting is to strive to fall on the proper side of it, until….

The end of that sentence is different for everyone.

These days, ethics is a term most associated with the business world (and not typically in a good way). After Googling the phrase, ‘Ethics-in,’ among the first subject hits are related to the Workplace, Business, Science, Accounting, Research, America and News. In each of these topics, the qualifications for being ethical seem to be on a sliding scale, but should they be?

Let’s begin by at least agreeing on a starting point that ethics determine the appropriate and acceptable behaviors in a society or a business universe and that they play a key role in any personal or business relationship. Let’s also consider that what may be legally compliant, might not necessarily be ethically compliant (Puffery can be a fine example of this).

These are the broad statements that most agree on as far as ethics. Beyond this though, there is an array of opinions on where the ethical line of right and wrong falls. Sometimes it is intuitive, and in others, it needs to be taught. This is why classes in ethics exist in some form at the University-level. Most teach a theoretical form via their philosophy departments, and at the graduate school level, an ethics class in specific fields is considered mandatory to earn those letters at the end of your name.

However, are the concepts in these classes just being taught, or are they being grasped and utilized? It is a tough question to answer, but whatever the answer may be, there are signs that things are trying to shift more towards the latter. For example, when the Harvard Business School was searching for a new dean, they landed on faculty member Nitin Nohria, an individual renowned for his expertise in business ethics.

Throughout my career I’ve had clients ranging from those so consumed by ethics that they’re afraid to make a move (and consequently failed to connect), to those whom exhibit an irreverent mission to bend the rules on the ethical front. In my view, ethics in Marketing Communications covers a broad spectrum of good and bad. Content always rises like cream to the top of as far as importance. It’s wise to avoid negativity. Attack ads seem to work in the political arena, but they don’t translate well to the business world; stereotyping doesn’t work; deceiving is a bad idea (and an ugly practice). Most folks relate to transparency, empathy, honesty, respect of privacy and social responsibility. Genuinely caring about your customers is King. If you ever have doubt, just remember… good marketing is ethical marketing.

So, it would seem to your humble Merrill Communications Expert that old fashioned truth becomes the valued quality to strive for and achieve, and if you determine that to be your end goal, then you are in the ethical ballpark.

We could dissect and analyze this subject case-by-case (and maybe we will in future blogs) but in general, the answer seems painfully simple to me:

• Say what you mean.
  
• Say it truthfully without trickery.
  
• Be accurate, articulate, upbeat and positive.
  
• Care deeply about your prospects and customers.
  
• Avoid negativity and at all costs, steer clear of untruths.

Finally, replace thoughts of ethics being laborious, to those of it being a friendly guideline for good communications. It will serve your clients well.

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Tony Anzivino hails from the greatly misunderstood state of New Jersey. He's worked in Financial Shareholder Communications world from the age of 12, starting with Janitorial duties at his Father's firm. He likes biking, hiking and ketchup.

Are You In A Sticky Relationship?

No worries. Your humble Merrill document-specialist-turned-blogospheriest certainly won’t be delving into “Dear Abby” territory any time soon. Although, holy cow could I write a few compelling chapters in that book.

I’m actually here today to speak about banks and the success or failure of their customer retention and prospect attraction campaigns.

Banks are a hard habit to break….or are they? The respected J.D. Power and Associates Inc. performed a recent survey posing the question to U.S. consumers, “Would you be willing to leave your bank?” Of the 48,000 Americans questioned, 34% said that they would “definitely” not be ripe for a change. Compare that data to the same question asked back in 2007 (at the point where the economy was just starting to come off the rails) and the figure is significantly higher at 47%. The results evoke a scale of emotions ranging from curious surprise to sheer panic, depending on what side of the teller window one is standing.

This got me thinking. There are certain businesses that have been divinely blessed with a stickiness-factor for their customer base. Banks are a good example of this. No one really embraces the idea of switching accounts, learning to navigate a different online banking website, or ordering new checks....especially when you over-ordered last time and still have ten boxes of unused WAMU checks in your bureau. (OK, so I was reeled in by those Stepford-esque mannequins. They seemed so happy.)

Whoever predicted the end of print media a few years back pretty much got spanked. Not only is print back, but more money is being spent on the message, hook, design and printing of marketing campaigns now than in any other time in history. There are better, smarter, more cost efficient, ecology-friendly ways of tackling the challenge. If you’re not reaching out to touch someone, you better believe your competition surely is.

Examine the bank marketing pieces that you receive in the mail or online. What do they say to you? Is there something missing in the message? Are they personalized enough to beat the trash sort? Do they seem generic, trying perhaps to speak to too broad a base of consumers? Are seniors getting materials with images of dreadlocked snowboarders in Tahoe while college grads are seeing photos of baby boomers playing shuffleboard in the Bermuda?

If the banking relationship is getting less sticky - as the numbers clearly indicate is the trend - marketers need to identify the important issues to customers. Service is clearly one of the top concerns. The message needs to be crafted around a thoughtful campaign incorporating the right printed piece that will speak to the audience in a way that they relate and respond to. Here’s an interesting bit. People polled on the service issue made it clear that they would be willing to pay higher fees to get better service. Higher fees for better service? What a concept.

The moral of the story is an enhancement to the "attracting bees with honey" allegory. Sure, honey attracts bees, but there are times when you have to market the honey right (if you also want to go after wasps and yellow jackets, you might have to develop a new approach) and create a trusted relationship with the bees so they know that your brand of honey is for them.

In other words, think out fully who your audience is and understand what they’re looking for. Speak clearly to the message you want to project and don’t try to net all creatures great and small in the same net swoop.

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Tony Anzivino hails from the greatly misunderstood state of New Jersey. He's worked in Financial Shareholder Communications world from the age of 12, starting with Janitorial duties at his Father's firm. He likes biking, hiking and ketchup.