The importance of Brand & Corporate Purpose has grown over the last decade. Companies have understood the importance of Purpose as a growth driver...
It wasn’t that long ago that I sported a sticker on my laptop that read “Tree-Hugger.” Do I remember where I got such a sticker? Of course not. All I know is that it made me come across as environmentally conscious, and that made me feel cool somehow.
I wasn’t alone, though. Until fairly recently it seems like everyone was trying to appear environmentally conscious. However, something has changed in the past few years. Now, people’s concern for the environment is transcending empty displays of support. Now people are actually doing tangible things to help the cause. One of the largest ways they are doing this is by flexing their consumer muscles, by choosing to support brands that show vigorous efforts to help the environment, while choosing not to support brands that show public indifference to the cause.
Consumer brands that demonstrate commitment to sustainability outperform those that do not, according to the 2015 Nielson Global Sustainability Report. This report also found that sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%. This growth of sustainable brands can be accounted for by the sixty-six percent of consumers that say they are wiling to pay more for sustainable brands.
So what does this mean for your brand? In short, it means you’ve got to actually take steps towards sustainability or else you will fall behind and likely fall into oblivion with the rest of the brands that were too stubborn or cheap to get with the program. Consumers are far more self-aware than they used to be. They are concerned about the environment and want to make decisions that comply with their sense of responsibly as citizens of the world. By taking a bold stance in favor of environmental sustainability, your brand will earn the trust of these global consumers and will, in turn, increase sales.
What will this look like in action? Sevendots has observed many different CPG brands’ behaviors and actions around sustainability and has implemented both intrinsic and extrinsic sustainable marketing to maximize clients’ brand growth. Extrinsic sustainability would look like a brand sponsoring or financially supporting an activity or a civic organization dedicated to sustainability. Intrinsic sustainability would look like a brand producing a product that is inherently sustainable; for example, the materials used in the product might be sustainably sourced.
At the end of the day, it pays to invest in sustainability. If your brand fails to publically invest in sustainability, you can say goodbye to all hopes of consumer growth. Environmental consciousness has proved itself to be far more than a momentary trend. It is here to stay. The sooner your company realizes that and takes progressive steps in the direction of sustainability, the sooner your brand’s growth will reach new levels.