Follow the Money -- Still A Smart Marketing Insurance Policy

News reporters have long been counseled to "Follow the Money" if they want to find the story.

For example:

Liggett Group Paid For Lung Cancer Study
The New York Times
A 2006 study that jolted the cancer world by claiming that 80% of lung cancer deaths could be prevented through widespread use of CT scans was underwritten almost entirely by $3.6 million in grants from the Vector Group, parent company of the Liggett Group, maker of Liggett Select, Eve, Grand Prix and Quest cigarettes.

"If you're using blood money, you need to tell people you're using blood money," says Dr. Otis Brawley, chief medical officer of the American Cancer Society. Dr. Jeffrey M. Drazen, editor in chief of the medical journal, says he was surprised by the revelations. An increasing number of universities do not accept grants from cigarette makers, and nearly all medical journals and associations demand that researchers accurately disclose financing sources.     - Read the whole story...

It's easy to get jaded in today's economic world of fudging numbers, hiding sources and strategically communicating  a slanted view of reality  for business benefits.  The players pursue the money -- and  those who seek understanding should follow that money trail.

The same advice could be given to green marketers -- "follow the money".  Who finances the research?  Who will benefit from widespread implementation of a technology?  What are the community ramifications?  What are they protecting?

Transparency is the new mantra of social responsibility.  Following the money is about transparency beyond the stats of how much greenhouse gas has been cut or virtual cars taken off the road.  Following the money is about the long term and widespread impact of a company's core business practices and strategy.

Where are R&D funds being spent?  In prevention or cure?  If it's cure, is there a balance with prevention to phase out the problem in the foreseeable future, or is the strategy one of lingering maintenance.

Before you partner with a company -- follow THEIR money flow.  Who is investing in their company?  What is their revenue model?  What is the metric for their success?

Numbers matter only when they are truthfully verified and vetted by independent sources.  All other numbers are red flags to be investigated!  And... who knows the difference?!

Vetting The Numbers

Resources that reporters rely on (but independently verify) when researching a story include:

• Trade association figures
• Insurance claims
• Federal and state government reporting and compliance reports
• Nonprofit advocacy groups and watchdogs
  
• Corporate quarterly and annual reports

Resources they use as indicators that need verification include:

• Company news releases, brochures and websites
• Corporate annual reports
• Chamber of Commerce reports and presentations
• Consultants' reports that represent their clients
• News reports
• ...and their own writings of a couple years ago!