So what's the deal with Green branding and impact? Why the great interest in impact companies and is there an interest at all or is it just hype?
Well let's get a few facts straight. First fact, Millennials make over 50% of the consumer market and according to the New York Times this generation is the most educated one in history.
Meaning Millennials make more conscious decisions, they are often opinionated, they do read labels and tend to care about causes.
In fact, almost 50% of Millennials would be more will to make a purchase from a company if their purchase supports a cause.
37% of Millennials say they are willing to purchase a product or service to support a cause they believe in even if it means paying more.
To top all this off, sustainability is a good thing regardless of all the above mentioned facts.
Green and Eco-Branding a new approach that broadens the common denominator between brands and Millennials. Here are a few tips on green branding strategy:
First thing, identify who your customers are. Based on who your customers are develop your green brand strategy. Make sure your messages are short, simple with bottom line results that can be measured. Make sure you clearly define what it is you are measuring and what is the impact it creates socially and /or environmentally. Once you have that clarified, define how it is you want to update your customers and make it consistent.
What is the story behind your sustainable product or service? How did you come about this? Have you made any changes to your product or service in order to become sustainable? How are you measuring the impact of your change? Why did you make this change?
Millennials are very likely to provide you feedback. Make sure you listen, tweak, and engage with your customers accordingly. Transparency and communications is the key here.
Your green brand is only as strong as your actions. Is your staff familiar with your green corporate values? Do they follow your lead? Do they contradict it? Your staff are your best brand ambassadors. Provide your staff with what they need to be great ambassadors. Whether it's special programs within the organization, socially oriented, environmentally oriented, information, greater awareness etc.
Greenwashing is when companies claim for sustainability or impact branding without facts and actions to support their claims. Customers will see this through this and react accordingly. Make sure your green brand is developed from within supported by actual actions and metrics you can share with your market.