Eco-Marketing a popular trend

We all know that red means stop and green means go (at least most of us do, anyway). But how many of us know what it means to “go green” in the marketplace? Even those who have a good grasp of the concept are often fuzzy on what the whole process can entail. So for this edition of eNews, we”ll explore the thoughts behind eco-marketing and what it truly means to go green.

One of the primary reasons for the clouds around green marketing issues is the fact that there is no simple definition of the term. Although the first workshop on “Ecological Marketing” was held in 1975 by the American Marketing Association, a majority of people still believe that green marketing is limited to the promotional activities associated with branding products that are deemed to be environmentally friendly. As with anything else, going green is easier said than done, a lesson that many businesses have learned the hard way (remember the Exxon fiasco?). However, if the issue is taken seriously and your message is executed properly, turning green into gold can be rewarding in more ways than one.

Daniel Yankelovich, considered by many to be the founding father of public opinion polls, recently conducted a study on green marketing and discovered that 21% of consumers plan to calculate their carbon footprint in the next year. In addition, about 35 million Americans are known to regularly buy green products. These statistics are encouraging, especially for businesses that are focused on embracing new environmental mindsets. Indeed many Silver Oaks clients have begun taking a proactive stance on resource preservation, paying close attention to the concerns voiced by today's consumers so that they can provide products and services which foster increased care for our future.

Even consumers with the best intentions don’t always follow through in their behaviors however, which is why green appeals aren't likely to attract the average customer unless they offer other additional benefits like cost savings or improved product performance. Green marketing is a delicate process because it involves the marriage of two equally important objectives: minimal environmental impact and customer satisfaction. Ultimately, when it comes to adopting earth-friendly buying habits, the number one question consumers ask is, “What's in it for me?” The mark of a successful greening campaign then is when the attributes of the product or service being promoted is made personally relevant to those who are purchasing them.

It is also necessary to note here that no one–size–fits–all strategy exists if you decide to go green. The key is doing your homework so that you and your customers can feel empowered. A company's perceived social responsibility is often a major selling point, but only if it is a sincere, deeply held value within the corporation. Certainly one of the most vital parts of becoming green is making your business transparent to skeptics and proponents alike. Eco-marketers must be prepared to back up their claims with substance or else they may be accused of what the industry calls “greenwashing.” There are also many government regulations that businesses need to be aware of when they make environmental claims, thus contracting a company like Silver Oaks to handle such communications logistics can be extremely beneficial.

• DO create a balance between customers’ desires for high quality, convenience and affordable pricing with minimal environmental impact.
• DO be sure to conduct market research before you invest any money in new product or service development.
• DO establish credibility for your efforts.
• DO hire professionals to coordinate your campaign.
• DO prepare to be patient. It takes time to build a proven track record.

It is difficult to calculate in numbers the rewards a company sees as a direct result of going green. Of course the cost to dispose of waste is quite high, so even the smallest decrease in the amount that is generated will surely translate into increased savings for business owners. But we also know that the modern consumer is very perceptive, and will typically respect any entity making a genuine effort to improve the quality of our environment. The bottom line here is that if your audience likes you and views your company as doing good in the world, they will want to take part in the process. This creates a new breed of customers that is suddenly not just loyal to your cause, but loyal to you. And that is what going green is really all about.