Compliance, corporate governance and recent legislation are nothing new to executives who run the risk of exorbitant fines and even jail time for failing to conform to recent mandates. However, this same accountability is now making its way to the marketing department largely because of its sizeable budget and the enormous impact its actions have on both customers and shareholders alike. To avoid the most common risks, marketers need to understand where their vulnerabilities lie:
Racial bias. We've all seen it; the story that talks about how the Attorney General is investigating a company due to racially biased practices. More often, the culprit lies not in bad business practices but in the chaotic and random use of database marketing practices. Today, companies are forced to look seriously at marketing process re-engineering in order to protect the reputation of their organization and to avoid the financial risk associated with racial biases. As a result, companies are now looking beyond their existing marketing automation solutions in favor of newer technologies such as Marketing Operations Management (MOM) applications because they are capable of targeting potentially damaging racial biases.
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