One of the emerging trends in businesses these days is Green Marketing. Find out how going green can benefit your company in this post.
In this article:
- Green Marketing Definition: What Is Green Marketing?
- What is Sustainability and How Does It Relate to Green Marketing?
- Green Marketing Examples: How are Companies Using this Approach in Their Business?
- What are Some Things to Consider If I’m Planning to Adopt Green Marketing Practices?
- Why Should I Adopt Green Marketing Practices In My Company?
Green Marketing | Is Your Business Ready to Go Green?
1. Green Marketing Definition: What Is Green Marketing?
Green Marketing is defined as the business practice of advocating for both efficiency and environmentalism in your business. This is in line with the practices of corporate social responsibility.
Given the looming problem of global warming, companies now strive even harder to reach their bottom lines while being socially responsible. Not only will being green help Mother Nature, but such practices also promote an altruistic image of the company – one that cares about society at large.
2. What is Sustainability and How Does It Relate to Green Marketing?
Green marketing is not just about companies’ grand gestures, such as investing in solar panels and shifting to eco-bricks. It can even be something on a smaller scale, like going paperless and shifting to digital files.
Moreover, green marketing is also about achieving sustainability. In a nutshell, sustainability is about using current resources without sacrificing the future’s need for resources. Sustainable office habits and practices will allow businesses to preserve their resources by minimizing waste while maintaining or even maximizing productivity.
3. Green Marketing Examples: How are Companies Using this Approach in Their Business?
Different companies have different ways of adopting green marketing. Here are examples of businesses and actual companies who have taken this step:
- Various companies, from accounting firms to law offices, have already started going paperless and shifting to digital files. They use USB drives to distribute content, as well as to store and organize their files.
- Nowadays, a growing number of cafés and restaurants advocate going organic. This initiative is done to promote healthier food, as organic production is absent of antibiotics and other hormones.
- A lot of restaurants have already resorted to using metal straws instead of the usual plastic ones. Some cities like Seattle and California have already banned most plastic straws, and it’s likely that others will follow.
- Brands like H&M have begun marketing campaigns in which they accept old clothes, even from other brands, in the hopes of being able to recycle them.
4. What are Some Things to Consider If I’m Planning to Adopt Green Marketing Practices?
Here are some considerations you have to think about before going green:
- Quality: Adopting green marketing practices shouldn’t compromise quality when it comes to products and services. Companies need to show the public that what they offer is still of the same high quality even with the changes made in the process.
- Transparency: Companies should also be transparent in the practices they’ve adopted. Otherwise, customers will perceive such efforts as just another strategy to lure them.
- Price: Businesses need to pair their altruistic marketing motives with a competitive price too. Consumers would love an environment-friendly product, but if they can’t afford it, they won’t buy it. Getting the right price is a crucial part of a marketing plan – it can make or break a your product or service.
5. Why Should I Adopt Green Marketing Practices In My Company?
Green marketing can be beneficial for companies in a lot of ways. Of course, the most obvious benefit is it allows you to give back to the planet and commit to making this world a better place.
Another benefit is it enhances the customer’s perception of the brand, thus adding value to your brand reputation. Consumers will think highly of your company if you’re being socially responsible.
Going green can also help boost sales for your company. As discussed in this Nielsen report on global sustainability, 65% of the collected data on global retail sales belong to companies who have made strong efforts toward environmentalism and corporate social responsibility. Among the respondents, 66% also say that they are willing to pay more for products or brands that advocate going green and economic sustainability.
Another benefit is higher cost savings. Here are some data from different institutions that support this:
- The United States Security and Exchange Commission (SEC) projects savings of $1.5 billion in the next decade through a recent decision to go paperless. The SEC also projects savings of around 2 million trees annually through digitalization of the financial sector.
- Healthier Hospitals has published reports discussing that going green for health systems can save more than $1 million a year of electricity bills. Health systems’ initiatives of going green can also boost national savings by $5.4 billion in five years and $15 billion in 10 years’ time.
Lastly, green marketing can also improve employee productivity. The University of California Los Angeles (UCLA) discusses in a study that employees of companies who religiously practice green marketing are more productive and motivated. They receive more training programs and have better social skills. This robust increase in productivity may produce large direct and indirect effects on a company’s growth. As cited by the UCLA report, employees do not aim for working just to earn money. They want to work for companies that will make a difference in the world.
Watch this video from Iris Lin in which she shares effective green marketing strategies:
At the end of the day, going green isn’t just about attaching a certain reputation to your brand. If your efforts aren’t sincere, consumers will see right through it and they’ll just see you in a negative light. Green marketing offers many benefits for a company, but you should also commit to it to give back to the planet. We hope this guide has helped you answer the question, “What is green marketing?”, and learn about how you can adopt greener practices for your business.
What are some green marketing initiatives that you have in mind for your business? Share them with us in the comments section below!
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