Sustainable marketing is more important than ever!

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Sustainability is more than just a digital marketing trend . Incorporating environmental considerations into your business strategy allows your company to remain socially relevant and impactful for years to come.

According to the Harvard Business Review, companies that incorporate sustainable business practices experience more innovation, effective risk management, and better financial performance.

However, marketing eco-friendly products is about more than sustainability. It’s about using ethical practices and being aware of the social issues that your customers care about. Increasing profits is not the main concern of sustainable marketing , as there is more focus on creating longer-lasting relationships with your customers.

A powerful consumer-facing marketing tactic
If green marketing is focused on selling products that encourage environmental sustainability, what is sustainable marketing?

According to Diane Martin and John Schouten, sustainable marketing is the “process of creating, communicating and delivering value to customers in such a way that both natural capital (resources that nature provides) and human capital (resources that people provide) are preserved or enhanced throughout”.

It is clear from this definition that sustainable marketing canada whatsapp data is concerned with both customer experience and environmental impact. This is an essential point for marketers to understand because there are now more environmentally and socially conscious consumers in the market.

A study revealed that 63% of consumers prefer to buy from purpose-driven brands. The sentiment has only grown since then, as seen in a 2020 IBM study where more than half of consumers are willing to change their purchasing habits to become more environmentally conscious .

For marketers, the imperative is clear: understand sustainable marketing and explore ways to incorporate it into corporate efforts.

This article will provide a clearer view of the popularity of sustainable marketing , areas in your business where you can adopt such practices, examples to learn from, and more.

What are the key drivers of sustainable marketing?
Increase in the number of socially responsible consumers
As more consumers become aware of the deterioration of the environment, they are changing their consumption behavior in its favor. Studies have shown that at least one in three consumers would rather spend more on sustainable products than those that are not.

Thriving competition between companies
It’s no surprise that companies are changing their marketing strategies to meet the growing demands of modern customers. According to the survey, more than half of CEOs have implemented initiatives to ensure ethical business practices across the value chain, among other governance improvements.

The competitiveness of companies grows as more and more adopt sustainable marketing.

Growing popularity of socially responsible suppliers
The use of environmentally friendly materials is an essential component of sustainable marketing . Many consumers prefer to buy products made with natural ingredients, which are less industrialized and also less harmful to the environment.

Additionally, companies that adhere to their corporate responsibility goals can develop better relationships with their suppliers.