Impact Marketing. Do Consumers Actually Care About a Brand Having an Impact?
Sometimes it seems as that Green Marketing is just another hype. A trend corporates ride on to get more publicity, impact funding and other related impact benefits. So we decided to check it out and understand how significant is it to develop a Green brand. Here are ten facts we gathered from multiple researches:
- 45% of consumers pay attention to the environmental footprint in their purchasing decisions.
- According to NYU's Center for Sustainable Business - Products marketed as sustainable are driving product and category growth
- Sustainable marked products Grew 5.6x faster than products not marketed as sustainable (5-yr CAGR)
- According to Neilsen the U.S. sustainability market is projected to reach $150 billion in sales by 2021
- According to Neilsen 73% of Global Millennials Are Willing to Pay Extra for Sustainable Offerings—Up from 50% in 2014
- 47% of internet users worldwide had ditched products and services from a brand that violated their personal values.
- The modern consumer behavior is the being concerned and actually doing something about protecting the environment, caring about sustainability and the correct use of natural resources.
- According to Forbes, 88% of consumers want you to help them make a difference
- According to a survey conducted by Accenture, over 60% of respondents said they gravitate towards businesses committed to reducing plastics and improving the environment.
- IBM's recent study shows that 60% of consumers surveyed are willing to change their shopping habits to reduce environmental impact.
Looks like Green brands are actually more favorable than their counterparts.
Two tips from us:
- Beware of Greenwashing: Greenwashing is when companies claim for sustainability or impact branding without facts and actions to support their claims. Customers will identify a Green wash in no time
- Make sure your green brand's tone of voice does not project any sense of morally superiority by trying to convert into your Green values. Simply stick to these values and actions the rest will follow.