By Mark Schaefer
When I was growing up, I was always a person that led with my heart.
Even when I was teenager, I organized efforts to build a community playground in Appalachia, raise money for our local foodbank, and tutor kids in rural communities.
I was always looking for opportunities to use resources in new ways for social good.But then I got into the business world I had to learn some hard lessons. I remember a wake-up call when I was pleading with my boss over the phone about doing “the best thing” for the customer and him telling me that we had to listen to the numbers, not our hearts.
When I got to grad school, I was introduced to the lessons of economist Milton Friedman who famously said “a firm had only one social responsibility …to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.”
This “follow the money” attitude was beat into me in every class, it seems. Sure, a business person had to be ethical and values-driven, but the goal was shareholder value. This eventually became my new business ethos.
Then about five years ago I attended a keynote speech at the SXSW event by a young man (I can’t remember his name) who preached that businesses needed to put the world first and money second. When I go to SXSW I always try to attend sessions that push me out of my comfort zone, and this one certainly did. I left the room thinking that this guy was naieve. He was young and full of passion but that is not how the business world works.
The revolution upon us: The Brand Stand
But in the following years … it turns out the young guy was right. He was on the cutting edge of a movement (as so many SXSW speakers are) and correctly predicted a business mindset that is more tuned-in to the world and social good.
I’m not sure most companies are ready to abandon the “shareholder value” model, but there is definitely a movement to create products and services that give something back to the world. Some companies are even taking a political stand (in recent weeks companies have taken a stand against the NRA and its gun policies, for example). Companies are taking a brand stand.
It is a new world … A new world that needs to be discussed on a podcast, and that’s what Tom Webster and I did on the latest episode of The Marketing Companion.
We also discuss a few quick items of interest like …
- The FDA approved first AI diagnostic device that doesn’t need a specialist to interpret the results.
- Hackers stole casino’s database through a fish tank thermometer.
- Top AI researchers are being paid more than $1m a year.
Push play and listen in on a fascinating discussion!
Click on this link to listen to Episode 127
Other ways to enjoy our podcast
- Click here to download the latest episode or subscribe in iTunes
- Find us on Google Play
- Complete Marketing Companion Episode Guide
- Find the podcast on Stitcher
Please support our extraordinary sponsors. Our content is free because of their generosity.
Many thanks to our friend Scott Monty for the awesome show intro. Be sure to check out his amazing newsletter The Full Monty and his new podcast available here: fullmontyshow.com.
BuzzSumo is the world’s best way to discover, analyze and amplify your content. Run over to BuzzSumo today for a 14 day free trial. Beyond data, BuzzSumo offers priceless insights into content discovery, monitoring, influencers and outreach, content research and planning, and competitor research.
Find out why so many Marketing Companion fans are now hooked on Buzzsumo. Check out BuzzSumo’s powerful technology to look at the hottest content trends down to the hour! Go to marketing.BuzzSumo.com/companion to receive great discounts and free offers with discount code MARKETING_COMPANION_50
Social Tribe is an agency that specializes in building social, content, and influencer marketing programs for enterprise brands. Head over to Social Tribe today for THREE FREE OFFERS to help you build & scale your social media programs. Whether it’s elevating your brand position, reaching your target customers, or generating more leads, Social Tribe can help! Special offers just for Marketing Companion Listeners at www.social-tribe.com/companion …
- Interactive Assessment – to find the right technology & tools for your business
- Presentation download – to get insights on how to grow & scale your social media programs
- Editorial Management System Template – to put those insights into action
SoloSegment’s Site Search Inspector illuminates a huge blind spot for marketing teams and helps them unlock the revenue trapped there. If you’re like 85% of companies, you have no idea what’s going on in your site’s search engine. You either don’t have measurements or you ignore what you have. Up to 30% of your visitors search and they could be your best customers. Site Search Inspector targets the site search customer experience with a set of proprietary measures designed to improve success. They’re so convinced you’re going to improve your success rates, they’ve tripled the free trial period to 45-days and they’re offering 10% off an annual subscription. You can find this special offer on solosegment.com/companion
