Even as many corporations see great losses and a few go bankrupt, their leadership is still failing to recognize that politics in marketing for business is not a good idea. Using ESG index and DEI initiatives as indicators for business is driving too many out-of-business by alienating customers and landing on "Go Woke Go Broke" boycott lists. Those alienated customers are now looking for entrepreneurs who start-up businesses with either the opposite politics or preferably no politics at all.
Business magazines, newspapers, and blogs are taking note and urging companies to return to concentrating on profits over politics.
- Newsweek article "As 'Woke' Businesses Face Right-Wing Wrath, Culture War Capitalists Cash In" emphasized consumers are "are likely to boycott over a political position they don't like but are not likely to "buycott" over stances they agree with." Newsweek also published "Now Conservatives Embrace Boycotts and Regulations" and "Go Woke, Go Broke? Millennials Say It's True" which suggests this generation greatly disagrees with the supposed new marketing genius of young Gen-?.
- In blog post "Go Woke, Go Broke: 8 Examples of Companies Facing Consequences," a digital marketing professional explains "From a business mindset, politics should be a big no-go zone. If you are silent about an issue, you might receive pressure from a few activist groups, but things will likely quiet down soon enough, and people will forget about it."
- New York Post shared a former CEOs opinion in article "Woke, Inc: Why I’m blowing whistle on how corporate America is poisoning society." where he notes "... the answer is to do the hard work of rediscovering who we really are."
- The liberal-left VOX media website admits "ripple effects of conservative consumer activism are real" in finance and business article "The conservative boycott playbook is kind of working."
If businesses want to survive, company leadership needs to stop listening to bad advice, research the facts, and understand that politics in marketing can kill their profits and possibly drive them out of business. Corporate leadership needs to get back to basic business concerns and strategic planning based on items key to success.
Some companies claim they are supporting social issues because their human resources think it might get younger people to be interested in working for the organization as employees. But, does it get loyal or competent employees? Which matters most to the bottom line - customers or employees?
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