Phil was asked to attend an all-day conference for the James M. Kilt Center for Marketing at Chicago university’s Booth School of Business on the whole idea of marketing for good.
The inaugural Booth Marketing Summit in London, co-sponsored with the Rustandy Center for Social Sector Innovation, brought together several faculty members and a select group of alumni. By sharing knowledge, research, and lived experiences, the participants were able to highlight a set of actionable insights that centred on three key learnings on how to approach efforts aimed at marketing for good.
Be Strategic, Consistent, and Authentic: the event heard from experts at Microsoft and HMG Global as well as Professor Abigail Sussman on how successful ESG-focused marketing must be aligned with a company’s corporate mission and consistently portray authenticity. When there is a proper roadmap, businesses can do good business—and do business for good.
Use Purpose to Strengthen Competitive Differentiation: senior executives from UPS and the Kraft Heinz company used highly pertinent examples that showed how companies that invest in their local community and devise tools aimed at helping to make a better society stand the best chance of engaging consumers and partners along that journey, which winds up being a good thing for business in the long run.
Understand What Your Purpose Means to All Stakeholders: marketing executives from Haleon Healthcare, Maersk Drilling and Microsoft explained how marketing for good has a great deal of potential to bring benefits to society as well as generate profits for an organisation.
Overall, although there is no prescription for how a company can accomplish these broad-reaching goals, industry leaders and academic researchers at the inaugural Booth Marketing Summit in London provided some evidence of ideas that work and underscored the importance of learning from what doesn’t.
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Clarity Economics 