The New Age Ecopreneur.

Let’s be clear: Sustainability is not a marketing trend anymore!

With catastrophic environmental events happening daily, conscious consumerism is on the rise and is a business imperative. There has seemingly never been a better time to integrate sustainable practices into your business or launch a sustainable product.

Consumers are now increasingly aware of how their lifestyle choices impact the planet and are looking to make a difference. A good product or service is no longer enough for the conscious buyer; the social and environmental impact is in the spotlight.

A report by Research Insights (Meet the 2020 consumers driving change) data explains that Sustainability has reached a tipping point. As consumers increasingly embrace social causes, they seek products and brands that align with their values. Nearly six in 10 consumers surveyed are willing to change their shopping habits to reduce environmental impact. Almost eight in 10 respondents indicate Sustainability is crucial for them. And for those who say it is essential, over 70 percent would pay a premium of 35 percent, on average, for sustainable and environmentally responsible brands.

The concept of marketing green and clean is at the forefront of all global companies, small or large. 

Hence, we have identified a few concepts for the Eco-preneur to consider on their road to building a sustainable brand: 

Brand Story:

Impressive shots of melting glaciers or depressing statistics may not be the best strategy to effectively convey your story and dedication to build a sustainable brand. The key is Authenticity & Transparency. How you communicate with your consumer, who you are as a company, what you believe in and why, the problems you face, and your journey to build a sustainable business throughout the entire product lifecycle from sourcing ingredients to the recycling process. Even if it’s a small, simple step towards a sustainable action in the whole production process, it’s a start, and it is a reality that your consumer will value. 

Target Audience:

Unlike other industries, “green” brands have a target audience that is much harder to define. Why do consumers buy your product? Are they interested in the product or the environmental impact of it? Do they care about giving back to the environment or preserving their health? Will they spend more to buy a sustainable product? Lastly, where can you find more people like them? Knowing your answer to these questions can certainly help find the right audience to target. The best way to do that is by incorporating a CRM software to track your customer journey and understand the needs and wants of your customers. A CRM Software (Customer Relationship Management) helps you connect with your consumers personally and helps with engagement and retention.

Product Development:

It’s not enough to slap a green label on your product. Eco-labels like Fairtrade, IFOAM Organic, IndoCert, and others play an essential role in establishing the product’s credibility and accountability. But accreditations are not enough. Core expectations of the consumers like price points, durability, quality, convenience, and design are equally important for your brand to work on in this competitive space. If the product doesn’t work, it doesn’t matter how green it is. A brand is successful when people can continue their lifestyle comfortably and make positive environmental and social impacts with their purchasing decisions through green credentials that are effortlessly woven into your brand.

Marketing Strategy:

Competing on Sustainability in today’s market requires more than buzzwords. Whether you are selling an eco-friendly product or innovating your manufacturing process to reduce the environmental impact, the demand for environmentally friendly products and services continues to grow. 

Sustainable marketing requires additional consideration when compared to marketing traditional brands. Delivering value and performance is a prerequisite. Marketers need to be creative in their marketing strategies to address areas that may be perceived as deficient, like a higher price than traditional products or services.

When launching a product, campaign, or approaching a potential vendor as a marketer, promoting Sustainability using negative advertising can backfire. According to the Harvard Business Research Review (The elusive green customer: Katherine White,2019), White and her colleagues suggest that guilt (negative emotion) can be an effective motivator but should be used carefully. In one experiment, when accountability was subtly highlighted (participants were asked to make a product choice in a public setting), consumers reported anticipating future guilt if they failed to shop for green products, and 84% chose fair trade options. However, when an explicit guilt appeal was used (“How can you enjoy a cup of tea knowing that the people who produce it are not treated fairly?”), they became angry, upset, or irritable, and only 40% chose the fair-trade option. People are more likely to engage in a behavior when they derive positive feelings from doing so. This core precept is quite often overlooked when it comes to Sustainability. Her in-depth research has found that positive hope and pride are instrumental in driving consumers’ sustainable consumption. 

Avoid Greenwashing:

Brands investing more time and money on advertising and marketing their products as green rather than putting effort into achieving a sustainable product is called greenwashing. And there are far too many companies making people believe that they are doing more to protect the environment than they really are. Greenwashing marketing strategies with deceptive eco-friendly jargon without full transparency as a lucrative strategy to appease customers is not only misleading but morally and ethically wrong. 

Key Takeaway

With the landscape of sustainable marketplaces becoming highly competitive, it’s best not to underestimate the genuine commitment, knowledge, patience, and innovation needed to participate in forming and marketing a sustainable brand. These are not just trending buzzwords but intentional, dedicated practices to reduce the coming generation’s environmental impact. The question that arises is: ‘Is your brand willing to put its money where its mouth is?