Sustainability marketing is a widely endorsed concept that has steadily been gaining momentum in recent years. Consumers are growing dissatisfied with the traditional marketing model that pushes lifestyle choices as the main reason that you would buy a product.
Many people consider this manipulative, as they realize that it did not provide the level of satisfaction that they desired. People are therefore moving to sustainable products as it gives them the satisfaction that they are being responsive to the needs of people and the planet. This article will discuss the importance of sustainability in modern branding and marketing in today’s world.
Why is Sustainability Important?
Sustainability may be defined as the ability of a business to consider the needs of everyone today, without compromising the needs of future generations. Companies have increasingly moved towards adapting their business practices towards sustainability to protect people and the planet.
Sustainability marketing is no longer considered a niche but, in fact, is looked upon as a commitment to the triple bottom line of people, profit and the planet. Businesses need profits to survive. However, they must also consider the needs of stakeholders both within and outside the company and the state of the planet. They have to look at events like climate change, the elimination of waste and the pollution caused by fossil fuels as some of the reasons for choosing a sustainability mindset.
Benefits of Sustainability for Business Marketing
Studies have found that many consumers are looking for sustainably produced goods while shopping. This is why marketing and public relations firms have to incorporate the goal of sustainability in branding and marketing campaigns.
Incorporating sustainability marketing requires a comprehensive change in perspective and planning production techniques that produce environmentally friendly goods, employ fair labor practices, use finances obtained from legitimate sources and practice management techniques that are ethical and transparent.
It is important to employ a holistic and comprehensive image to the issue of sustainability because it can benefit your business in both the short and the long term.
1. Sustainability helps drive sales
Statistics indicate that over 70 percent of millennials will pay more to buy from environmentally friendly companies. They are paying more attention to how firms produce their goods and treat their workers. Businesses that use sustainability principles are more appreciated by customers. This shows the benefit of being sustainable.
2. Going green is the key to the future
Sustainability marketing is here to stay. Analysts have predicted that you can expect to see an even greater prioritization of sustainability in the future. It is, therefore, better to take this as a long-term initiative. It will be a key aspect of doing business in firms representing a large spectrum of industries.
3. Not being sustainable will leave you behind
Sustainability marketing is an initiative that is being supported by an increasing number of business leaders. More than 60 percent of business leaders believe that is needed in the present marketplace. 20 percent regard sustainability as critical for the future. This shows that your business will be left behind if you do not adopt a sustainability mindset very soon.
4. It helps promote customer trust in your business
Buying and selling online makes it easier for customers to disengage with a business. They will lose trust if they find the actions of a business questionable or not based on authentic and transparent business practices. Building a sustainable brand image enables a company to engender trust and respect from its stakeholders.
Tactics for applying a successful sustainable branding strategy
Sustainable branding is the process of including the essentials of sustainability in a company’s culture, communications and operations. It includes both social and environmental sustainability.
Studies have shown that employing sustainability in business practices has resulted in advantages like better business risk management, more innovation, increased profits, more cost savings and improved logistics. You can take the following steps to convert your business and brands into more sustainable ones.
1. Convert to a sustainable operation
Given that the principles of sustainability will apply across the business, it seems a daunting task. Start small by using recycled packing and materials for products and suppliers. Use solar energy, LED lighting and battery storage. Commit to using electric vehicles for transportation. You can also choose to use local suppliers for your raw materials so that you reduce air transport and environmental pollution. You can use fair practices in hiring and wages so that your employees are not exploited.
2. Take a holistic approach
In addition to looking at environmental aspects, sustainability is also about creating a healthy social and economic infrastructure. Companies have to provide a positive quality experience for their employees, customers, community and business partners. They have to conserve resources so that these will be available for coming generations.
3. Communicate sustainable practices
You must communicate your sustainability practices to your employees and your customers. Between 10 to 60 percent of customers check whether a company is eco-friendly or not. Be truthful and authentic about your practices, and don’t exaggerate, or you could be found guilty of greenwashing.
Your sustainable practices must be integrated into messages that advertise your brands. They should become a part of your brand identity. You can ask customers to support these initiatives by purchasing your products. You can also highlight how they contribute to your mission and values and benefit society at large.
4. Request input from your customers
You can involve customers in your sustainability strategy by asking for comments and feedback on what they would like to support. Then, see if you can incorporate it into your strategy. You can have them participate in a poll or include hashtags in an Instagram post to see the level of support for an initiative. Customer feedback can help you identify priorities and timelines for sustainability projects.
5. Find ways to innovate
The use of tech in manufacturing has resulted in opportunities for brands to be more innovative. Some denim manufacturing companies have provided an app that allows for exact body measurements so that material is not wasted. There is even a company that produces jeans from plant-based materials.
Conclusion
Sustainability in marketing and branding can serve to promote a company’s products and image in a positive light. There are some customers who still would not consider eco-friendly products if it does not meet their needs. Sustainability does not mean that you have to reduce your product quality. However, incorporating sustainability principles in your branding and marketing strategies can be a great benefit for your business.
