Sustainability means something other than compromising your business practices or profitability. Instead, it can open up entirely new markets that would otherwise be closed off to you as a company and even allow you to save money in the long run!
Check out this guide on going greener without sacrificing your bottom line, courtesy of Green Business Advisor.
The Problem with Traditional Marketing and Advertising
Traditional marketing and advertising have been a problem for a long time. It's expensive, wasteful, and damaging to the environment. For example, companies spend millions of dollars on billboards yearly with messages that quickly wash away into oblivion.
But even worse than the wastefulness of traditional advertising is that it could be more effective in getting people to buy products too. In fact, recent studies have shown that most people pay attention to ads only if they're placed in high-traffic areas like bus stops or on busy streets.
The Solution? More green marketing! People are drawn to eco-friendly products more quickly because their status as green implies that they care about saving resources and money while being socially responsible.
By investing in green advertisements, businesses can get more bang for their buck by attracting customers who want to buy eco-friendly items.
The Benefits of Going Green
There are many benefits to incorporating sustainability into your business. It will help you create a better brand image with consumers, save you money in the long run, and provide an opportunity to make some extra cash on the side.
One of the main reasons why marketing and advertising businesses should look into going green is because it can improve their brand image. The majority of people these days care about what companies do to minimize their impact on the environment. Customers who value sustainability could be more inclined to buy your product than competitors who don't have a sustainable strategy in place.
Sustainable practices also allow marketing and advertising businesses to save money in the long run by reducing costs that would otherwise be needed for things like water or electricity consumption, transportation, waste disposal, or resource extraction.
Case Studies
- Consumer marketing company, P&G, has been investing in sustainability to reduce costs and increase profits.
- The company's Home & Beauty division saw a 23% rise in operating profit between 2009-2010 due to its commitment to sustainability.
- In 2010, P&G invested over 1 billion dollars in sustainable products globally.
- As the global population increases with an expanding middle class, so does the need for cleaner products that are both healthy and ecologically sound so they don't harm our environment or create more pollution than we already have on earth.
- One way this is being done by many companies, like REI, is through garment construction practices that recycle materials while designing clothes to last.
- In addition, these brands are also turning their attention to greener packaging techniques, such as recyclable paperboard containers and durable plastic bottles instead of disposable plastic bags.
- One innovative solution comes from Shiseido Co., Ltd. This Japanese cosmetics company partnered with a waste management firm, TerraCycle, to collect used makeup applicators, cotton swabs, mascara wands, and other beauty tools used in their lipstick manufacturing process.
Taking the First Steps
Green advertising and marketing companies have been popping up all over the place. They're easy to spot because they have a green theme to their branding or ads. These businesses use sustainable practices, meaning they do not harm the environment. And that can be good for business too!
Consumers will drive the demand! Consumers are more environmentally conscious than ever, so they want to support companies that share their values. Many consumers will spend more money on products and services if they know they will help the environment. The more people who know about your company, the more likely you'll get new customers!
But how do you go green? It's actually pretty simple! Start by determining what green changes would make sense for your business. If you still need to offer paperless options, this would be an excellent chance to start with.
If you do offer paperless options but need to be more eco-friendly with them (like printing extra copies when someone forgets their laptop), this is an area where you should start cutting back.
There are lots of other great ideas for going greener and more sustainable!
The Future of Sustainable Marketing and Advertising
The future of marketing and advertising will be more sustainable with the ability to use new technologies that are not harmful to the environment. New technology like LED screens, solar panels, wind turbines, geothermal energy, and bio-diesel fuel cells can help save natural resources.
Moreover, a green business may generate renewable energy credits (RECs), allowing it to sell the energy they produce back into the power grid. These RECs could then be sold on an open market or traded as a commodity to offset any expenses related to going green.
These RECs could then be sold on an open market or traded as a commodity to offset any expenses related to going green.
