Why is Sustainable Marketing
Important in 2021?
Sustainability is no longer a hot trend. Instead, it is the need of the hour. Sustainable marketing is the way forward for companies in 2021. Environmental problems are worse than ever before and society now has a crucial social responsibility to fulfill.
With the growing awareness and the pressing needs to change, consumers are rapidly adopting brands that reflect sustainability values. For marketers, this rising demand for sustainable products and production processes means that traditional marketing techniques are outdated.
Brands have to make 2021 the year they adopt sustainable marketing, which is the only way to protect the future of earth and its inhabitants. Before we talk about why sustainable marketing is important in more detail, let’s take a look at its definition first.
Sustainable Marketing by Definition
Sustainable marketing concerns all those practices that ensure that the earth remains inhabitable and that there is no misuse of its precious resources. It adopts all those marketing techniques that are continuous and adopt behaviors that seek to preserve and protect.
At the crux of sustainable marketing is seeking long-term gain instead of short-term success and seeking longevity for all. But why does sustainability apply so deeply to marketers you may ask? The reason is that more than 33% of the consumers today consider environment protection as the biggest responsibility of brands.
The masses believe that sustainable marketing not only concerns their products but also the image of a brand and the strategy it employs. They want to see brands operating strictly upon the social values of accountability and responsibility.
This is why sustainable marketing is the need of the hour for all the brands. They must address social and environmental issues through their daily operations and ensure they adopt as many sustainable alternatives as possible.
Sustainable Marketing and Its Importance in 2021
It’s a clearly established fact now that the world population wants their favorite brands to follow sustainable marketing practices. Those companies who fail to adopt such practices are at great risk of losing a lot of customers very soon it seems.
The reason behind this possibility is simple: consumers love relating to their preferred brands. If your brand doesn’t make an effort to understand the needs and wants of the customers, you will lose your loyal ones soon.
For marketers, successful branding means matching your brand’s values to that of your customers. It is also the key to long-term success for your business. In fact, sustainable marketing is no longer a future action: it is an immediate need for your business and 2021 is just when you should be adopting this marketing branch.
Here are all the reasons why:
1. Your Brand is Responsible for the Planet’s Health
Every company’s environmental impact is monumental, no matter how hard you try to downplay it. It is important that you ensure your organization is making utmost efforts to reduce that impact as much as possible.
A great place to start is with your employees and their perception about the environment. Make them conscious so that each understands the only environment that can prevail in your company is that of sustainability. Remember the change has to begin right from the top and work its way till the bottom.
Engage every member of your company in the sustainability initiative. Perhaps joining programs such as Team Green would be a great way to implement the change.
2. Sustainability begins with People- Human Resource
Human presence is your company’s social equity and we don’t mean their job-based performance only. Your step towards sustainability in the company must begin with a reliable and transparent human resource service.
You must ensure that equality and diversity rule at all times and no employee, from the top tier to the very bottom, feels disrespected ever.
3. Sustainable Marketing means factoring in Economic Profit Value
As part of your sustainable marketing efforts, your year-end profit measurements must also include an evaluation of what economic value your brand has added. In addition to weighing your accounts, you must also weigh how the global and local economy has benefitted from your work.
Companies that are truly sustainable will not only push efforts for hefty company profits but also to changing people’s lives. Your marketing efforts must aim not just to increase company revenues but also how you can put that revenue to good use and benefiting people.
Sustainable Marketing- How it will Benefit Your Company
Now many might assume that sustainable marketing only appears to be beneficial for the society and the people, but how will our company benefit? The truth is that there’s plentiful long-term gain for your company in sustainable marketing too.
You will surely bear the fruits of it in the long run and here are some of the top benefits:
- You will enjoy a tremendous increase in ROI
- Your partner and customer acquisition will improve vastly
- Compliance with regulations will elevate your state in the eyes of governing authorities
- Your operational effectiveness will improve and your costs will decrease
- Best of all, your brand will gain positive worldwide recognition
With that said, let us look at some stats to convince you why sustainability marketing should be your absolute priority in 2021:
- There was a 50% growth in the market, according to CPG brands, from 2013-2018 all thanks to sustainability.
- A huge 70% of the entire consumer population is willing and ready to pay a premium price if you offer them sustainable products
- Stats from the USA show that 54% of Generation Z values brands that use only sustainable practices. You will find it interesting to note that Generation is the majority of the U.S population.
- Sustainable marketing protects the earth and changes people’s lives. However, it also improves customer loyalty, increases cost savings and yields greater profits
- Out of every ten customers, eight of them value and prioritize sustainability
Final Thoughts
Sustainable marketing is not only a revamping of your marketing techniques: it is truthfully a radical change of your entire business trajectory. Moreover, it is a permanent change that is highly important for business success from 2021 onwards.
One way to acknowledge why sustainable marketing is vital for your company is to take a long and hard look at your business activities. Next, you must consider the impact your business operations are making and the legacy you want your brand to leave.
