This week we’re honing in on sustainable marketing. What is sustainable marketing you ask? It’s a marketing approach that aims to promote environmentally and socially responsible products, services, and practices.
The generational shift, coupled with a growing concern for the environment and social responsibility, means sustainable marketing is becoming increasingly important for businesses to stay relevant and competitive. Sounds tricky doesn’t it?
We’re gonna chat about the future of sustainable marketing and why it’s important to roll with the times to future-proof your business.
✨ Consumer awareness and demand for sustainability
As consumers become more aware of environmental and social issues, they are increasingly seeking out products and services that align with their values (we’ll go to great lengths to avoid buyer’s remorse).
According to a survey by Nielsen, 73% of global consumers say they would definitely or probably change their consumption habits to reduce their impact on the environment. This trend is only expected to grow in the future.
As a result, businesses that prioritise sustainability in their marketing will have a competitive advantage over those that do not. In the future, companies will need to demonstrate their commitment to sustainability to remain relevant and appeal to socially and environmentally conscious consumers, so we can all sit in a supply and demand circle singing Kumbaya. Lovely.
✨ Technology advancements and innovation
Advances in technology are making sustainable marketing more accessible and effective. Digital marketing has made it easier for companies to communicate their sustainability efforts to a wider audience (and we’re pretty good at it tbh). Social media platforms, blogs (like this one), and other digital channels provide businesses with a platform to share their sustainability stories, showcase their environmental and social initiatives, and engage with customers in real-time.
Fancy new technologies are enabling businesses to develop more sustainable products and services. The use of biodegradable materials in product packaging is becoming more common. In the future, businesses will continue to invest in technology to develop innovative and sustainable products, and sustainable marketing will play an important role in promoting these products to consumers.
Recently, PepsiCo’s Frito-Lay and Quaker brands have initiated an industry-leading Greenhouse Learning Centre to field test compostable packaging, with an aim to speed up product innovation. Just a couple of powerhouse pals, teaming up for a green initiative. We love to see it.
✨Collaboration and partnerships
Sustainability is a complex issue that requires collaboration between businesses, governments, and other stakeholders. In the future, we can expect to see more collaboration and partnerships between businesses to address environmental and social issues.
Businesses can partner with non-profit organisations or government agencies to promote sustainability initiatives or fund environmental and social programs. This type of collaboration can help businesses build a positive reputation and increase their credibility with consumers. For example, partnering with organisations such as Ecologi, that allows your business to become carbon neutral.
✨ Transparency and accountability
In the future, transparency and accountability will be critical for businesses that want to be perceived as sustainable. Consumers are becoming more sceptical of greenwashing – the practice of making false or misleading sustainability claims – and are demanding more transparency and accountability from businesses.
To build trust with consumers, businesses will need to be transparent about their sustainability efforts and report on their progress regularly. Sustainability reporting can help businesses track their sustainability goals, identify areas for improvement, and demonstrate their commitment to sustainability. Brands such as Lucy & Yak ensure that customers are instantly aware of their stance on sustainability as soon as they hit their website, boasting their use of eco-friendly fabrics, as well as initiating a trade-in programme for your old Yaks.
Much to think about
The future of sustainable marketing looks bright, with more businesses adopting sustainable practices and consumers demanding sustainable products and services. To remain relevant and competitive, businesses will need to prioritise sustainability in their marketing and demonstrate their commitment to environmental and social responsibility.