Ethics in Marketing: Why a ‘Person-First’ Approach is Non-Negotiable

Episode 20 | 28.05.2024

Ethics in Marketing: Why a ‘Person-First’ Approach is Non-Negotiable

This week we’re joined by Margaret Ward, founder and strategist at Claddagh Creative and a devoted advocate for ethical marketing. Margaret shares her expertise on implementing “person-first” marketing, stressing the importance of aligning company values with ethical practices. She discusses strategies for creating impactful and sustainable marketing campaigns, and provides insights from her journey from aspiring midwife to marketer.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

In the current business climate, the responsibility of companies to “be good” extends beyond profit-making. This responsibility encompasses ethical business practices, environmental sustainability, community engagement, and fair treatment of employees. This broader notion of corporate responsibility was explored in depth during a recent episode of The Responsible Edge Podcast. Host Charlie Martin engaged with Margaret Ward, founder of Claddagh Creative, to discuss how businesses can achieve growth with integrity.

Margaret Ward’s journey to founding Claddagh Creative is a testament to her commitment to ethical marketing and sustainability. As she described in the podcast, her path was not straightforward. Initially aspiring to be a midwife or nurse, Margaret’s career trajectory changed due to personal circumstances, leading her to discover a passion for marketing.

“My journey technically starts when I was like 16 years old… I always knew I wanted to help people, and when I discovered marketing, I realised it was a way to help people in different ways.”

Margaret’s diverse experiences, from internships at digital agencies to working in fast fashion and sustainable businesses, shaped her understanding of what ethical marketing should be. She launched Claddagh Creative in 2020 with the mission to work with ethical and sustainable brands, focusing on creating a positive global impact through holistic and transparent marketing strategies.

 

The Core of Ethical Marketing

Margaret’s philosophy at Claddagh Creative revolves around the concept of “person-first” marketing. This approach emphasises treating clients, their audiences, and the community with respect and integrity. One of the critical strategies she implemented to ensure ethical practices was to avoid having direct account managers. Instead, team members who work directly on the accounts also manage client relationships.

“We do technically have account managers, but they’re people who work directly on the account as well,” Margaret explained.

“This way, we ensure that there are no mixed messages and the client’s story is fully understood and conveyed.”

Margaret’s insistence on this approach stems from her observations in the industry. She noted that traditional agencies often have account managers whose sole job is to keep clients happy, leading to potential communication gaps and a lack of in-depth understanding of the client’s needs.

 

Accountability and Transparency

A significant theme in the conversation was the importance of accountability and transparency in business practices. Margaret emphasised the need for businesses to back up their sustainability claims with concrete actions and data. This principle is embedded in Claddagh Creative’s thorough onboarding process.

“Our onboarding process is quite thorough. Clients have to answer about 60 to 70 questions in different areas, with around 15 being specific to ensuring they are genuinely committed to sustainability,” Margaret said. “If they can’t back up their claims, we guide them to invest time into understanding and improving their practices.”

This rigorous vetting process not only helps maintain the integrity of Claddagh Creative’s work but also encourages clients to critically evaluate and enhance their sustainability efforts.

 

Person-First Approach to Business

One of the most compelling aspects of Margaret’s approach is her focus on the people behind the business. She believes that ethical marketing is not just about the end consumer but also about treating employees and partners with respect and dignity.

“People will go the extra mile if they feel respected and nurtured,” Margaret stated. “It’s about engaging people, which means capturing what makes us human. Our clients’ teams are a reflection of their values, and by treating them well, we see better work and stronger relationships.”

Margaret’s person-first approach aligns closely with the ideas presented in the Forbes article discussed during the podcast. The article highlighted that companies should prioritise high-impact areas, hold themselves accountable, and put their people first to be better corporate citizens.

 

High-Impact Areas and Sustainable Practices

Margaret’s work with Claddagh Creative is a practical example of focusing on high-impact areas. She collaborates with clients to create ethical marketing strategies that resonate with their core values and drive significant positive impact.

One of her clients, PROTSAAH, a Swiss-based jewellery brand, exemplifies this approach. “They work with incredible artisans, and their focus is not just on creating beautiful products but also on ensuring fair treatment and support for their artisans,” Margaret shared. “This holistic approach is what makes their business truly sustainable.”

 

The Future of Ethical Marketing

Looking ahead, Margaret envisions a future where authenticity and personalisation are at the forefront of marketing strategies. She believes that businesses must move away from mass marketing tactics and focus on building genuine relationships with their customers.

“People want to feel like they are more than just a number,”

Margaret said. “Using data to personalise experiences and truly understand your customers’ needs will be key to building long-lasting relationships.”

This perspective aligns with the growing trend of conscious consumerism, where consumers increasingly prioritise ethical and sustainable practices in their purchasing decisions.

 

The Responsibility to Be Good

The conversation with Margaret Ward on The Responsible Edge Podcast highlights the multifaceted nature of corporate responsibility. It underscores that being “good” in business is not just about ethical marketing but also about treating people with respect, holding oneself accountable, and focusing on impactful areas.

As Margaret aptly put it,

“If you want to get to your goal, don’t hold yourself back. Trust your gut and always strive to be a good person in everything you do.”

In an era where stakeholders demand transparency and ethical practices, businesses must rise to the challenge and embrace their responsibility to be good. By doing so, they can achieve sustainable growth, build trust with their customers, and make a positive impact on the world.

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Retaining Gen-Z Employees: The Generation That Expects More

Episode 19 | 21.05.2024

Retaining Gen-Z Employees: The Generation That Expects More

This week we’re joined by James Skirrow, Head of Customer Sustainability at Futureproof and a dedicated advocate for sustainability in business. James offers his expertise on engaging and retaining Gen-Z employees, highlighting the importance of aligning company values with the expectations of younger generations. He discusses innovative strategies for creating a loyal workforce and shares insights from his career transition from the ad industry to sustainability.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

In today’s rapidly evolving business landscape, retaining key employees has become increasingly challenging, particularly with the growing presence of Gen-Z in the workforce. As businesses strive to keep their workforce engaged, productive, and loyal, it’s crucial to explore effective employee retention strategies that align with the values and expectations of the younger generation. In a recent episode of The Responsible Edge Podcast, host Charlie Martin engaged in a conversation with James Skirrow, Head of Customer Sustainability at Futureproof, to delve into this pertinent topic. This article explores insights from their discussion and offers practical strategies for enhancing employee retention.

Understanding the New Workforce Dynamics

James Skirrow, who has transitioned from the advertising industry to a leading role in sustainability, highlights a fundamental shift in workforce dynamics. “We’re seeing a high turnover rate, particularly among Gen-Z and Millennials,” James notes.

“75% of Gen-Z and Millennial respondents in a survey said they would work with a company for up to two years before moving on.”

This trend reflects a broader change in career trajectories, where younger employees prioritise diverse experiences and rapid career progression over long-term tenure at a single company.

 

The Cost of High Turnover

High employee turnover is not just a matter of inconvenience; it’s a significant financial burden. The Society for Human Resources estimates the cost to hire a new employee averages $4,700. Moreover, the loss of institutional knowledge and the disruption caused by frequent staff changes can hinder a company’s growth and stability. James emphasises the importance of understanding why employees leave and addressing those factors proactively. “Learning about why people leave through exit interviews and employee satisfaction surveys is crucial,” he says. “It helps organisations understand what they can do better to retain their talent.”

Strategies for Retaining Young Talent

  1. Dynamic Onboarding Process:
    A robust onboarding process is crucial for making a positive first impression and setting the stage for long-term engagement. According to James, “The onboarding process should make new recruits feel welcome and informed. It’s about making them understand their role in the team and the prospects of a bright, long-term future.” Personalised welcome packages, mentorship programs, and a clear itinerary for the first few weeks can significantly enhance the onboarding experience.
  2. Flexibility as a Necessity:
    Flexibility in the workplace is no longer a perk but a necessity. A LinkedIn survey revealed that a majority of workers have left a job or considered leaving due to a lack of flexible work policies. James points out, “The UK government’s new flexible working policies, allowing requests for flexible working from day one, are a step in the right direction.” Embracing flexible work arrangements, such as remote work and adjustable hours, can greatly improve employee satisfaction and retention.
  3. Thoughtful Promotion Practices:
    Promotion is often seen as a reward for good performance, but it needs to be handled thoughtfully. “A three-year survey by ADP found that 29% of people left their companies within a month of receiving their first promotion,” James mentions. This indicates that promotions without adequate preparation, compensation, or resources can lead to dissatisfaction. Regular performance reviews and timely, well-supported promotions can help retain top performers.
  4. Comprehensive Training Programs:
    Providing continuous learning and development opportunities is essential for employee retention. “People who are given more responsibility without adequate preparation are more likely to quit,” James warns. Companies should invest in training programs that equip employees with the skills they need to succeed in their roles and progress in their careers. This includes mentoring, executive coaching, and access to relevant courses.
  5. Creating a Compelling Mission and Values:
    A strong, clear mission and set of values can significantly enhance employee loyalty. Skirrow shares,

“We set a really clear mission at Futureproof, aiming to build a business that benefits people and the planet. It’s about being mission-driven, entrepreneurial, and a team player.”

Companies should articulate their mission and values clearly and ensure they are reflected in everyday practices and communications. This alignment can make employees feel part of a larger purpose, increasing their commitment to the organisation.

Measuring Success

To understand the effectiveness of these strategies, it’s important to track key metrics over time. James explains, “We launched a metric system that allows companies to track attrition rates, employee satisfaction, and other key indicators. This data helps us understand what’s working and what needs improvement.” Regularly reviewing these metrics and making data-driven adjustments can help companies refine their retention strategies and achieve better outcomes.

In conclusion, retaining young talent requires a multifaceted approach that addresses their unique needs and expectations. By implementing dynamic onboarding processes, embracing flexibility, promoting thoughtfully, providing comprehensive training, and creating a compelling mission and values, companies can cultivate a loyal and engaged workforce. As James aptly puts it,

“It’s about being curious and always looking to improve. That’s how you build a company that people want to stay with and grow with.”

By adopting these strategies, businesses can navigate the challenges of the modern workforce and create a thriving, sustainable organisational culture.

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No More Excuses: How Recycling Is Accessible to Big Corporates and the ‘Little Guy’

Episode 18 | 14.05.2024

No More Excuses: How Recycling Is Accessible to Big Corporates and the ‘Little Guy’

This week we’re joined by Richard Hills-Ingyon, Co-founder of The Recycled Candle Company and a passionate advocate for environmental sustainability in business. Richard shares insights into the innovative world of creative recycling and how small businesses can make a significant impact. He discuss’s the journey of turning discarded materials into valuable products and the challenges and opportunities of maintaining ethical practices in a competitive industry.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

In an age where technological advancements rapidly make devices obsolete, the ethical management and recycling of electronic waste (e-waste) have become increasingly pressing issues. The global accumulation of discarded electronics presents not only environmental hazards but also vast opportunities for sustainable practices. By comparing the large-scale corporate efforts of companies like Apple with the innovative approaches of smaller ventures such as The Recycled Candle Company, we can explore a spectrum of strategies in e-waste management, highlighting the effectiveness and impact of different recycling practices across industries.

 

Corporate Giants

Large corporations, particularly in the tech industry, have developed structured programs to handle e-waste. Apple, for example, has positioned itself as a leader in environmental responsibility with its comprehensive recycling programs. These programs are designed to reclaim valuable materials from old devices, such as gold, copper, and rare earth elements, which are then recycled and reused in new products.

Apple’s approach to e-waste is driven by a dual motive: reducing environmental impact and recovering valuable resources. The company employs sophisticated machinery to dismantle devices and sort their components, ensuring maximum material recovery. This not only mitigates the waste but also reduces the need to mine new materials, aligning with global sustainability goals.

However, the scale and scope of such corporate recycling programs often face criticism. Critics argue that despite their efficiency in material recovery, these programs may prioritise corporate profits over genuine sustainability. Richard notes,

“It’s a real minefield of a situation… you just gotta choose which hat you wanna wear when you’re passionate about it.”

 

The Creative Approach

In contrast to the high-tech, industrial scale of corporate e-waste recycling, small ventures often adopt more creative and community-oriented approaches. The Recycled Candle Company, co-founded by Richard Hills-Ingyon, exemplifies how small businesses can innovate in recycling practices. Originally focused on transforming discarded wax into new candles, the company has expanded its philosophy to encompass broader environmental impacts.

Richard shares,

“Transparency and the conversation allow you as a business owner to develop based on what your customers want, what your audience is actually interested in, rather than you just throwing stuff out there.”

Small ventures like The Recycled Candle Company often operate with a higher degree of transparency and community engagement. They are typically more flexible in adapting their business models to incorporate ethical practices that resonate with local communities. For instance, by involving local residents in the collection and sorting of recyclables, these businesses foster a sense of community responsibility and environmental stewardship.

Moreover, smaller companies may also experiment with unique recycling methods that are not economically viable on a larger scale but offer substantial environmental benefits. These can include upcycling or repurposing materials in ways that preserve more of the original product’s value, rather than breaking them down into raw materials.

 

Comparative Impact and Effectiveness

When comparing the impact and effectiveness of these two approaches, it becomes clear that both have their merits and limitations. Large corporations have the capacity to process vast quantities of e-waste efficiently and are crucial in managing the sheer volume of global electronic scrap. However, their programs are often rigid, lacking the personal touch that can drive deeper behavioral change among consumers.

On the other hand, smaller ventures, while limited in scale, can play a pivotal role in innovating and demonstrating alternative recycling methods. They are also more likely to engage directly with consumers, educating them about the importance of sustainability and responsible consumption.

 

Integrating Best Practices

The future of ethical e-waste management lies in integrating the strengths of both corporate and creative approaches. Large companies can learn from the agility and community focus of smaller ventures, perhaps adopting more transparent practices and supporting local recycling initiatives. Meanwhile, smaller ventures can benefit from the technological advancements and resources of large corporations, scaling up their impactful practices without compromising their ethical foundations.

For policymakers and industry leaders, the challenge is to create a regulatory environment that encourages innovation while ensuring that all players in the e-waste recycling market operate under fair and environmentally sound practices. This could include incentives for companies that prioritise extended product lifecycles and provide support for local recycling initiatives that aim to up-cycle rather than just recycle.

As we navigate the complexities of electronic waste and its implications for the environment, it becomes increasingly important to foster a collaborative approach that leverages the strengths of both large corporations and small creative ventures. By doing so, we can develop a more sustainable, responsible, and impactful e-waste recycling industry that not only preserves the planet but also enriches our communities.

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Navigating Founder Identity and Avoiding Burnout

Episode 17 | 06.05.2024

Navigating Founder Identity and Avoiding Burnout

This week on The Responsible Edge Podcast, we’re joined by our very own Charlie Martin, usually the host but now on holiday, with Zacc Tullett stepping in as host. As founders of The Anti-Greenwash Charter, they delve into the trials and triumphs of managing a startup with a focus on maintaining ethical standards and transparency in business. In a honest conversation, they explore the challenges founders face, particularly how to manage stress and avoid burnout while passionately pursuing business goals. They share personal coping strategies and the importance of maintaining a balanced identity separate from their entrepreneurial roles.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

In the fast-paced world of startups, the line between personal identity and business success often blurs, bringing with it a risk of burnout that can derail even the most dedicated founders. The Responsible Edge Podcast, hosted by Charlie Martin and temporarily led by Zacc, explores this nuanced challenge in a recent episode. Both founders of The Anti-Greenwash Charter, Charlie and Zacc, delve into their experiences, offering firsthand insights into maintaining balance and integrity while pursuing ambitious business goals.

 

The Challenge of Founder Burnout

Startup founders are notoriously susceptible to burnout. The intense pressure to succeed, coupled with the constant challenges of business management, can lead to mental and emotional exhaustion. This phenomenon is well-documented in the startup ecosystem, prompting discussions on how founders can sustain their health and their enterprises without succumbing to stress. The Inc.com article, “4 Ways to Avoid Founder Burnout,” highlights similar concerns, advocating for strategies that manage the intense demands placed on entrepreneurs.

Insights from The Responsible Edge Podcast

Charlie Martin, typically at the helm but now on holiday, joins Zacc, the show’s producer now turned host, to share reflections on their journey navigating the ups and downs of startup life. Charlie’s approach to stress stands out during their conversation:

“I’ve always just felt like it… I just absolutely love it… I just find it super exciting… scary, terrifying you know at times overwhelming but… not stressful just more exciting.”

This mindset exemplifies a powerful method of stress management – seeing it as an inherent, even exhilarating, part of the entrepreneurial journey.

 

Strategies to Avoid Burnout

  1. Reframing Stress: Charlie advocates for viewing stress not as an adversary but as an exciting element of the entrepreneurial journey. He states, “I think the article was talking about viewing stress as a challenge… I’ve just always loved it so much… it’s such a thrill.” This perspective can transform the daunting into the motivational, altering how founders engage with their daily stresses.
  2. Prioritising Recovery: Critical to combating burnout is the prioritisation of recovery, a theme that resonates deeply in the podcast. Charlie discusses the importance of substantial breaks, suggesting that founders should take meaningful time off to recharge, reflecting on how these periods help rejuvenate one’s enthusiasm and creativity for work.
  3. Support Networks: The value of support networks is emphasised through the founders’ experiences. Zacc highlights the creation of a local entrepreneurial group that serves as a mutual support system, focusing on emotional rather than technical support. Charlie’s reflection on these interactions underscores the benefit: “It was always less about the technical support of one another and far more about the emotional support.”
  4. Maintaining a Balanced Identity: Perhaps the most crucial strategy discussed is maintaining a balanced identity that distinguishes the personal from the professional. The conversation on the podcast sheds light on this struggle, with Zacc questioning, “You have to be so in it, and it’s so easy [for the business] to become part of your identity… but do you think that your identity should be aligned with the startup, or do you think you need to keep that separate?”

 

Applying Podcast Insights to Everyday Practices

Listeners can take away several actionable strategies from the podcast:

  • Engage in activities outside of work that enrich personal life, such as hobbies or community involvement, which can provide a refreshing counterbalance to the demands of startup life.
  • Establish routine physical activities, like cold-water swims or resistance training, as mentioned by Charlie. These activities introduce controlled discomfort that can help condition the body and mind to handle stress more effectively.
  • Regularly schedule breaks and vacations to ensure complete disconnection from work, allowing for mental and emotional recovery.
  • Develop a robust support network that provides not just professional connections but emotional support during challenging times.

 

Conclusion

This episode of The Responsible Edge Podcast offers a revealing look at the challenges faced by founders Charlie Martin and Zacc as they navigate the complexities of their entrepreneurial roles. Through their personal experiences and strategic insights, they illuminate the pressures inherent in startup culture and discuss essential strategies for maintaining a healthy work-life balance. Their conversation highlights the importance of personal well-being in achieving sustainable business success.

Reflect on the insights shared by Charlie and Zacc in this episode to evaluate and possibly revitalise your own approach to managing the demands of entrepreneurship. As you consider their strategies, think about how you might implement similar practices to protect your own health and ensure the longevity of your business endeavours.

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Ethical Business Strategies Inspired by Earth’s Systems

Episode 16 | 24.04.2024

Ethical Business Strategies Inspired by Earth’s Systems

This week, we’re joined by Sarah O’Sell, Principal Consultant and Founder of Anim8 Collective. Sarah brings over a decade of experience in technology, communications, and circular economy strategies to discuss regenerative growth and its impact on modern marketing. She delves into how businesses can implement sustainable and ethical practices by learning from Earth’s regenerative systems, offering actionable insights for companies looking to align profitability with environmental stewardship. Tune in to discover how integrating nature’s principles into marketing strategies can foster long-term success and resilience.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

In the modern business landscape, the call for sustainable practices rings louder each day, prompting a rethink of traditional growth tactics. This concept of sustainable growth can take inspiration from an unexpected source – nature itself. The principles of regenerative and interconnected systems, which sustain and enhance the natural world, can similarly revolutionise marketing strategies, making them not only more effective but inherently ethical and sustainable. In this article, we will explore how businesses can emulate Earth’s regenerative systems to create resilient, sustainable marketing strategies that drive long-term growth.

 

Embracing a Regenerative Mindset in Marketing

The regenerative approach in nature is characterised by systems that renew, evolve, and enhance their capabilities over time. For example, a forest ecosystem thrives by continuously recycling nutrients, supporting diverse life forms, and adapting to environmental changes. In a business context, this translates into marketing strategies that are not only designed to sell but to create value that grows and evolves with the community and the ecosystem it inhabits.

Sarah O’Sell, a principal consultant and founder of Anim8 Collective, champions this approach by integrating principles of the circular economy into marketing strategies. She explains,

“Systems thinking is about recognising that you are operating within a broader ecosystem. This approach is fundamental to developing sustainable practices that aren’t just beneficial in the short term but are regenerative over time.”

 

Strategies for Regenerative Marketing

1. Systems Thinking: The first step towards regenerative marketing is adopting a holistic view. Understanding how various components of a business ecosystem interact allows marketers to anticipate the impact of their strategies on all stakeholders, including customers, communities, and the environment. This approach requires a shift from linear to circular thinking – where the end of one campaign or product lifecycle feeds into the beginning of another.

2. Sustainable Storytelling: Like the narratives within a thriving ecosystem, every brand has a story that can educate, engage, and inspire stakeholders. Sustainable storytelling goes beyond promoting a product’s features; it highlights the ethical efforts behind a product and the real-world impact of a consumer’s purchase. This builds a brand’s credibility and fosters a deeper connection with its audience. Sarah notes,

“Creating the story around sustainability – that’s what moves groups of people. It’s about crafting narratives that are not only compelling but also deeply rooted in genuine, responsible practices.”

3. Data-Driven Decisions: Just as ecosystems rely on feedback loops to adapt and thrive, data-driven marketing strategies can optimise resources and maximise effectiveness. By analysing customer data and feedback, businesses can continuously refine their approaches, ensuring they remain relevant and respectful of changing consumer values and environmental constraints.

4. Collaborative Growth: Ecosystems thrive on diversity and interconnectedness, principles that can also benefit business strategies. Collaborative marketing efforts, such as partnerships with NGOs, other businesses, or thought leaders, can amplify impact and foster a network of growth that benefits all participants. As Sarah puts it, “Marketing is about being in a powerful position to be internal and external network accelerators.”

5. Transparency and Traceability: Just as transparency within natural systems allows for the tracking of energy and nutrients, clear and open marketing practices build trust with consumers. This involves being upfront about the sourcing of materials, the labor practices involved in production, and the environmental impact of products and services.

 

Case Study: Anim8 Collective’s Approach

Under Sarah’s leadership, Anim8 Collective serves as a prime example of how businesses can implement regenerative marketing strategies. The collective helps companies in the circular economy and industrial spaces to not only grow but also integrate sustainability at every step of their development. Sarah elaborates,

“We’re helping businesses grow their ecosystems in a way that they’re not just surviving, but thriving by integrating sustainable, regenerative practices from the start.”

 

Challenges and Opportunities

While the transition to regenerative marketing strategies offers numerous benefits, it also poses challenges. These include overcoming the inertia of traditional marketing methods, the initial costs of implementing sustainable practices, and the complexity of measuring the impact of these strategies. However, the opportunities – such as increased consumer trust, long-term viability, and the potential for innovation – are compelling reasons for businesses to adopt this approach.

 

Conclusion

Regenerative growth strategies offer a promising path forward for businesses aiming to thrive in an increasingly conscious market. By learning from Earth’s systems, marketers can create more sustainable, ethical, and effective strategies that not only drive growth but also contribute positively to the world. As businesses like Anim8 Collective demonstrate, integrating nature’s principles into marketing is not just a trend but a transformational approach that aligns profitability with planetary health. This approach is not merely a choice but a strategic imperative for future-focused businesses.

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Unpacking What Went Wrong at FTX: A Senior Marketer’s View

Episode 15 | 18.04.2024

Unpacking What Went Wrong at FTX: A Senior Marketer’s View

This week’s guest is Amber Skinner-Jozefson, CEO and Co-Founder of ePOP AI, a company at the forefront of analysing retail consumer behaviour within the fintech sector. Amber has a diverse background that includes leading marketing and communications at SWIFT and various other fintech startups. Transitioning from journalism to fintech leadership, Amber has consistently prioritised ethical marketing and transparency. Her experiences provide valuable insights into the importance of ethics in marketing, especially in light of the FTX collapse.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

​

In an time where technological advancements are rapidly transforming financial services, the fintech sector stands at a crossroads between innovation and ethics. The recent legal developments surrounding Sam Bankman-Fried, the founder of FTX, underscore the dangers of neglecting ethical standards. Amber Skinner-Jozefson, CEO and co-founder of ePOP AI, offers insights into navigating this landscape responsibly.

 

The Importance of Ethical Marketing in Fintech

In fintech, where financial stakes are high, transparent and ethical marketing is not just beneficial; it’s imperative.

“Marketing isn’t just about what you sell; it’s also about communicating your values,”

Amber explains. This philosophy is particularly vital in an industry where trust is the cornerstone of customer relationships.

 

Case Study: The Fall of FTX

The collapse of FTX, a giant in the cryptocurrency exchange market, clearly illustrates the consequences of ethical neglect. Amber comments,

“The FTX saga shows us that no amount of marketing brilliance can save a company if it’s built on unsound ethical practices.”

Mismanagement and misleading marketing eroded investor and customer trust when the firm failed to honour withdrawal requests, revealing deeper financial instability and misuse of funds. This crisis highlighted the essential role of ethical practices in maintaining both compliance and trust.

 

The Broader Impact of Ethical Marketing

“Ethical marketing fundamentally shapes the longevity and reputation of a fintech firm,” Amber states. She highlights how ethical practices contribute to sustained growth and customer loyalty, distinguishing companies in a crowded market. By adhering to high ethical standards, fintech firms not only enhance their reputations but also build robust defenses against market volatility.

 

Regulatory Framework and Compliance

Engaging with regulators is not just about compliance – it’s about collaboration. Amber advocates for ongoing dialogue with regulatory bodies to ensure that marketing strategies not only meet current standards but also anticipate future regulatory landscapes.

 

Technological Innovations

Discussing the potential of AI in marketing, Amber mentions,

“AI allows us to enhance the user experience significantly, offering personalisation that respects the user’s privacy.”

This approach aligns with modern expectations of data usage without infringing on privacy.

 

Educating and Engaging Consumers

Transparency is key in educating consumers about the benefits and risks associated with fintech services. Amber supports initiatives that empower consumers through knowledge, enabling them to make informed decisions about their financial interactions.

 

A Call to Action

Under Amber’s leadership, ePOP AI exemplifies the integration of ethical practices in every aspect of business operations. As the fintech industry continues to evolve, the commitment to ethical marketing will undoubtedly play a pivotal role in shaping its future. The path forward requires a concerted effort from all industry players to embrace transparency, responsibility, and consumer-centric practices, ensuring fintech’s growth is both sustainable and respectful of the very consumers it serves.

​

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