What is green marketing and how to get started?
Green marketing refers to the promotion of an environmental viewpoint of products and services through marketing means. Some environmental viewpoints are: production methods that are more ecological than competing products, various environmental labels, and carbon footprint compensation. Green marketing can be leveraged when marketing a specific product or service, or it can serve the entire brand’s marketing strategy.
The corporate benefits of green marketing
The benefits companies get from green marketing are rather diverse. First of all, it helps to increase sales and market share, because as consumers’ environmental awareness increases, ever tougher demands are placed on products and services to be environmentally friendly and responsibly produced. More and more consumers are willing to pay extra for ecological products. Secondly, how the company’s image is seen among stakeholders can be influenced by green marketing. Investors, customers and partners trust companies that take environmental issues into account in their operations and dedicate time to communicating about it.When the pressure to engage more in corporate responsibility and environmental work increases, companies are looking for ways to reduce their carbon footprint, and to communicate it to stakeholders. It is advisable to communicate also about emission compensation. Combined with other ecological activities, emission compensation is at best an effective enabler of green marketing. Through their activities, businesses can inspire consumers to change their lifestyles in a direction that puts less burden on the environment, thereby bearing additional responsibility in curbing climate change. Increasing carbon sinks and communicating about it are one of the most tangible ways to practice green marketing.
Creating a green marketing strategy
There are many ways to implement green marketing, but all effective green marketing strategies are united by the veracity and effectiveness of the climate action the company markets. For example, product labels and packaging that communicate ecological operations can be utilized as a platform. Developing more ecological products and services, as well as communicating about them, enables businesses to expand their market share by addressing environmentally conscious consumers. And the cherry on top: while sales increase, nature is burdened less.
The ecological properties of the products, as well as the environmental and responsibility work of a business, should be promoted via green marketing. Fine examples are the various environmental labels and informative symbols.
Creating a marketing strategy and implementing marketing actions are essential for business activities, regardless of the industry. Green marketing starts where the business has already saved money before marketing has even increased sales. Actions, such as improving energy efficiency, optimizing logistics chains, switching to renewable energy, minimizing waste and using more efficient packaging materials, all help the business to reduce costs, but can also be communicated to various stakeholders via green marketing.
There are several things to consider when planning a green marketing strategy. It is vital to define the target market: whose attention do you want to attract with green marketing? Does the target market consist of environmentally conscious consumers or perhaps companies looking for ways to reduce the environmental effect of their value chain? Once the target market is defined, the next step is to create content that resonates in a desired way. Find out what the concerns and priorities of the target audience are and what motivates them to make ecological choices. It is important to consider in advance also practical issues for implementing green marketing. What human resources are needed and how to measure the results?
In the current, more responsible operating environment a green marketing strategy that bases on the company’s actions and goals can significantly improve its competitive position. Compensating the GHG emissions of the business is an excellent part of broader corporate responsibility work in terms of feasibility and communication.
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