Smart marketing for sustainable products and services

© relif, image #138791024, 2017, source: Fotolia.com

Information

Impacts:
General Sustainability
Sector:
Wholesale and retail trade (exc. motor vehicles) Cross-cutting
Investment cost:
High cost
Payback time:
Payback time of the marketing investments are not precisely defined; typically marketing new products aim for short-term gains (a few months up to 1 or 2 years max.)
Cost:
High cost
Size of company:
Micro (less than 10)

Companies are trying to use more sustainable processes and resources to match growing environmental and social awareness. Changing processes and resources incur some costs for the companies, but can lead to profit if properly managed. For these costs to turn into profits, the sustainability of the products must be effectively communicated to the consumers. Hence, adopting a smart marketing approach is important to be successful in a market where companies are competing over their 'green' image.

Consumers are not only looking for good-quality products that are affordable, durable, convenient and meet their needs; today issues like health and wellness, buying local, and lifestyle choices all come into play. These are a challenge for producers but also a selling point in modern marketing strategies.  

Guidelines to improve sustainable product marketing:

  • Be true: sustainability claims should have a sound basis; the product or service must be truly sustainable. Authenticity comes across to consumers while ‘greenwashing’ is tolerated far less.
  • Make sustainability part of your company DNA: sustainability is not just a selling point, it is a way to see things.
  • Tell a story: explain how your company decided to become sustainable, telling the story increases your credibility.
  • Blend sustainability features with other features: sustainability is one of your product's features, but its main one is its ability to meet consumer needs.
  • Use labels but don't rely on them: accreditations can showcase some of the company's sustainability achievements, but cannot fully communicate the commitments of the company.
  • Use social media: it can communicate your ‘brand story’ in a targeted and cost-effective way.

Smart marketing of sustainable products should help to increase your sales and profit. It will save money in the long run, even though the initial cost can be higher. It can also help in accessing new markets and finding competitive advantages.

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