The Benefits of Green Marketing
Our society is becoming increasingly concerned with the environment around us. Despite the higher cost, millions of consumers have begun to purchase socially responsible products in support of helping our planet be a cleaner, better place. In fact, the sustainable market is on track to reach $150 billion this year in 2021.
In response to this trend, many companies are turning to eco-friendly products and “green” marketing strategies to tap into this growing market. Referred to as green marketing, this powerful strategy can strengthen your brand reputation and loyalty, as well as give your brand a competitive edge in the marketplace.
What is green marketing?
As you probably guessed, green marketing is when a company highlights the environmental benefits of their products in their marketing assets and campaigns. Consumers recognize these brands by terms like “sustainable,” “eco-friendly,” “organic,” or “recyclable”.
Your company could be the most environmentally-sensitive brand out there, but if you aren’t marketing it, who’s going to know? By using green marketing tactics, you can show consumers that your business is socially responsible and cares about giving back to the environment just like they do!
Do consumers really care if a brand is “green”?
In short, yes. A whopping 90% of millennials say they are willing to pay more for products that contain sustainable or eco-friendly ingredients. And products with these attributes have been steadily climbing in sales – – 19% in 2014, 22% in 2017, and now to an anticipated 25% in 2021.
Benefits of green marketing
While the demand for sustainable, eco-friendly products is certainly evident, many companies are unsure if going green will benefit their business. For example, the upfront costs of launching a sustainable product or switching current business processes to meet more eco-friendly measures can seem astronomical. However, there are several reasons why a business should consider investing in green marketing:
1.It expands your reach and attracts new audience segments.
2. It strengthens brand visibility, loyalty, and reputation.
3. It provides easy consumer education and engagement.
4. It makes your brand more personal and relatable.
5. It offers unique product positioning by helping your brand stand out.
Example of an Eco-Friendly Brand
Our team at Spectruss partnered with Double Cola to help them launch a brand new beer called Brewski. Their brand voice and design were essential in positioning their product in a saturated beer market.
The Brewski brand prides itself on providing adventurous minds with the thrill they have been seeking while also encouraging conscious choices. Brewski helps the environment with its fully recyclable cans and eco-friendly cardboard holders. Check out the full Brewski case study at https://spectruss.com/case-studies/brewski/
Green marketing is a powerful way to connect with your consumers and build a strong brand reputation for your business.