Five imperatives to help drive ethical business success

Ethical brand building represents a focused commitment to championing brand integrity alongside the "ethics" of business rather than just on the "effects" of doing business. Taking the high road to benefit all stakeholders, not just shareholders.

The journey of ethical brand building sets a standard for aligning leadership ideals and business values with those you directly and indirectly serve. When executed successfully, the results can be profound. A genuinely ethical brand is empowered to deliver tremendous value, alongside lasting influence and impact, across several dimensions.

As a founder and entrepreneur, your brand represents all the hard work you've put into creating a product or service you promote with conviction. Through careful planning and implementation, you've proven how commitment to quality can define a business. But to take it to the next level, consistency of message, delivered across distinctive and ownable cues, communications and experiences, is critical. All while following through on broader environmental and social responsibilities of modern-day business.

Marketers may argue otherwise, but given the interdependency, there really is no difference between your business and your brand purpose. They're one and the same!

There are many approaches to consider when defining and developing an ethical brand development strategy. But in practice, particularly for new businesses, we've found the most useful starting point is self-reflection—think about your values: how do they manifest themselves every day, and when, where and how your company mirrors them?

At this juncture, it's worth noting that if you don't firmly believe in the principles you identify with, they probably aren't ethical. Sorry. But, if you genuinely believe in them, you'll need to work hard to demonstrate how they benefit stakeholders and substantiate your purpose as a business and the world. Values manifest themselves as behaviours. Understanding this is how you'll build a reputation and formidable following for your company.

To help frame the necessary constituents that go into an ethical brand development strategy and prepare you for your ethical brand building journey, here are a few thought-starters:

Purpose

Local marketers may try to argue otherwise, but given the interdependencies at play, there really is no difference between Business and Brand Purpose. They're the same!

It's also worth noting there are several approaches to determining and articulating a Purpose—reflecting an interplay with the role of Values (we'll cover this in another post)—but regardless of method, the ultimate objective is clear: Purpose defines why, beyond the economics, your business exists.

To get you started, think beyond everyday transactions. For this, consider people and organisations not directly involved with the company but who your business may touch. So, think about your company's Purpose in the grand scheme of things. Then, what does your business have to do to accomplish this? What does your strategy have to do to contribute, validate and substantiate your Purpose? 

Positioning

First off, define your Positioning before you create any form of expression, visual or otherwise. Positioning should include how you intend to place your company in the minds of stakeholders by capturing the value of its offering.

Know your audience!

The best way to do this is to define a broad representative conceptual target that captures universal needs. For example, if you're a Fintech, consider people who tire of broken institutional promises, or are constantly let down by cumbersome and impersonal processes. 

Image 

The goal of brand-building efforts is to create a positive image for your business by (1) Positioning it appropriately and (2) aligning every interaction and iteration people have with a meaningful and memorable Purpose. 

With this is mind, to bring your Positioning and Purpose to life, what aspects of issue resolve will you cover and how? How will people then perceive you? What needs to happen to ensure continuity and consistency of image? What effect will you have on people, and what impact will your actions have on them? What results are you hoping to achieve? What should be people's reaction to your actions?

Now you've considered the 'what', 'why' and 'where', it's time to plan and execute the 'how'. 

Strategy

Despite a mass of confusion amongst "experts", if a Brand Strategy doesn't include an action plan built into the process for taking the business forward, hasn't thought about the investment and management policies needed, nor considered the broader impact of change, it will inevitably fail. 

Good Brand Strategy aligns with founding principles, purpose, values, intentions and ambitions—all the above. So, while formulating an action plan may seem like a daunting challenge, take note, the results certainly outweigh the effort if appropriately structured. Perhaps for reassurance, evaluate your favourite brand. 

For your strategy, consider the values you hold dear, as well as the long-term results you're looking to achieve. Now, where will your brand appear? What mediums should you use? What resources will you use to execute your strategy, and how will you measure success?

Activation

Building trust is not simply about creating a brand that everyone recognises and enjoys but also about ensuring brand provides an accurate picture of who you are and what you do but also provides a further call to action for improving people's lives.

It goes without saying, your business should not rely on unethical tactics to gain the attention it needs to succeed. In the same way, ethical business practice evaluates performance throughout the supply chain your brand should follow suit throughout the entire value chain.

Whether using techniques such as social media marketing, press releases or articles, accurately portray the type of services and products you provide, the value you create, and the reasons why people should choose you over any other offering. 

While you may have to work a little harder to get the attention, Ethical Brand Building is a worthwhile investment that can help your business create more meaningful, lasting value and shared success. And, when you're ready to start your Ethical Brand Building journey, make sure you work with a professional consultant who can help implement ethical standards and maximise your growth potential, not just articulate a compelling brand value proposition.

Building trust is not simply about creating an ownable experience everyone recognises and enjoys but also seamlessly provides an accurate representation of who you are, what you do and serves as a call to action for improving people's lives.

As long as you are consistent with the delivery of your message, the trustworthiness of your brand will become evident in the support your customers and other stakeholders share about you.