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Episode 51 Considering ESG in your Marketing Strategy will put you ahead of the pack
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Considering whether to include Environment, Social and Governance in your Brand awareness strategy may not be obvious, but Owen Hughes gives you some compelling arguments why you should start to consider it.
It definitely ruffled Elon Musk’s feathers. Owen and I recorded this conversation in May 2022 and about the same time there was controversy over the dropping of Tesla from the S & P 500 ESG Index and this got under the skin of Elon Musk, Tesla’s CEO. Leaving aside the details of whether Tesla’s inclusion or exclusion are valid and warranted, it’s obvious that ESG is important when it comes to Brand support.
Owen is an experienced marketer and pointed ou that brands who do not include ESG in their marketing strategy will eventually be left behind in the race for consumer support.
I would add that employers in general, not just the larger brands, need to consider ESG from the perspective of the choices employees will make when deciding which employers matches their values. We saw when companies adopted the ‘new safety regime’ of the 80’s and 90’s they were rewarded with contracts because of their values towards safety.
More recently Psychological Safety has become an important focus for all levels of business.
I don’t see this happening in the short term, but as ESG becomes a more accepted and possibly even driven by compliance, it will need to become a consideration, so you may as well get ahead of the curve.
I’d place this in two camps, the first being risk management and the second being corporate culture. The obvious one is marketing but I feel you need to get the context right before you launch into execution.
Owen Hughes
Director - Eyes Wide Open Communication
Business Development - CSR Accreditation
Stephen Sandor CEO Inspiring Business
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