Going green is a change many companies will have to make sooner or later for long-term business sustainability. Going green has great benefits for companies who have begun to realise and started to advocate for green practices in their businesses. By adopting green practices, your products or services help your customers to be eco-friendly while your operations will help support and save the Earth. If your business has not embarked on any green strategies, it is definitely time to do so! For many others, incorporating green strategies into their operations has become a main business success driver. We share 5 reasons why going green is beneficial to your business.
1. Competitive Advantage
The immediate payoff for businesses to go green is gaining competitive advantage and staying ahead of competitors. It helps to attract new green customers and open up new markets, ultimately enhancing the perception of the company customers, suppliers, vendors and other stakeholders may have. More consumers, especially those who are green advocates, will prefer to buy from companies that shares same values as they do. It generates goodwill, which is especially important for SMEs that rely heavily on positive word-of-mouth. Such practices can be seen and recognised by the consumers and it encourages community engagement, consumers’ trust and loyalty.
2. Bottom Line
In the long-run, companies will save cost by adopting green practices. Companies can reduce energy and other resource usage, recycle and minimise waste, optimise the supply chain, adopt new technologies for productivity, etc. With reduced costs, profitability will increase, helping businesses to stay sustainable and relevant.
Consumers care about the planet and they expect their favourite brands to care as well. To be successful in branding and marketing, companies need to be customer-centric. With the increased awareness of the need for environment sustainability, there have been an increasing number of people who are supportive of the ‘Go Green’ movement. Companies with a genuine effort to go green push out these green values be it in their business operations, marketing, or communication collaterals. They are generally able to better connect with their consumers and other stakeholders as well.
As such, brands that are associated with going green will be perceived with an enhanced brand image, reputation and credibility. This serves as a great marketing communication strategy.
Working with a company that practises green initiatives helps to greatly increase the productivity of employees, improve their overall morale and retain them as well. New employees who are also eco-consicous will be attracted to join the company too. Overall, it helps to promote a healthier and safer work environment.
5. Protecting Mother Earth
Companies advocating the green movement are practising good corporate social responsibility. The practices greatly helps to reduce harmful environmental impacts, helping to save and sustain the planet we live in, Earth.
Companies such as Gu Ma Jia Restaurant, Ganbanyoku Hot Stone Therapy and iRoo ladies' fashion boutique have started to go green and have seen susbstantial positive impact on their respective business. We take a look at some of the ways they have gone green, how the leaders think about taking charge and embracing the green concept, and look into other green measures they hope to achieve in the near future.
- Agnes, Founder, AT Marketing Consultancy, (ATMC) -