Good with Money
Our global research has long been indicating that companies who concentrate more on who they are and less on what they sell will gain the competitive edge over their competitors.
The “who you are” is defined by the values a company lives by and how effectively the company’s values connect with the talent staff that work for them and the valuable customers that continue to shop with them.
One of the values that companies need to be demonstrating today is that of being ethically conscious. And this means more than just changing to efficient green light bulbs! It means living by the value…making business decisions, both strategic and operational, against the value even if it hurts the bottom line.
I came across a company that is doing great stuff in this sphere. Have a look at their marketing campaign The Co-Operative Bank is really promoting who they are and what they stand for, and most importantly their claims are back by some substantial meaningful and significant claims. They have turned down over £700m in revenue based on ethical decisions… now that is putting your money where your mouth is and living by the values they subscribe to. Impressive!!!
I’ll be reviewing this campaign and the company’s operations over the next few weeks and trying to find out more about their results, but I’ll stick my neck out here and make a prediction that their values based campaign is having a fantastic response from the Millennial, Gen X and Boomer generations, a unique achievement.
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