Going Green: Build a Lifelong Bond
A few years back, Nielsen, one of the leading research firms, decided to do a survey to determine what drives people’s opinions on certain brands, and what sways their decisions when making purchases. With all the options we have in the post-Amazon world, what does drive what makes us buy from a specific brand?
Take a second to think about your own brand allegiances.
According to the research done, by an overwhelming margin across cultural and socioeconomic lines, people responded that they would choose to spend more money on a product or service that they felt was environmentally sustainable.
This research also shows that brands that had proven to have a commitment to sustainability had seen their profits grow each year. This survey dates back to 2015, and you could argue that if it took place today, the results might be even more resolute -
In a crowded field, consumers look to brands that they feel do the right thing, with being green topping the list.
More than half of survey participants also reported that they would be willing to pay a premium for a product that they know to be sustainable. Many global companies cut corners to tamp down costs and keep their products cheap. This trend led to a lot of questionable choices which now might prove to be penny-wise and pound-foolish.
It bears considering that the survey from 2015 found that younger consumers more strongly felt this way than older respondents. But, many of the “younger” respondents in 2015 (those under 20) are now entering their 20s, an age where most brand loyalty choices are made and often solidified.
To borrow an old, out-dated adage, most cigarette smokers start smoking in their late teens to early 20s and then stuck to whatever brand they choose at their age to their death.
Being sustainable looks like a very important way to develop a long-term connection with your consumers, and seems it will only grow more significant as the younger generation of consumers mature and take up more and more of the available market space.
There’s also the notion that doing little things like making your office energy efficient can help you save money in operation costs and can qualify you for government benefits and tax breaks.
Turns out, there’s more than one reason to make your company green.
Have we convinced you to try to make your company green yet? If so, check back for our tips on how you move your operations into environmental sustainability.