The power of Green Marketing in building brand equity.

Exploring the power of green marketing and tips for how brands can use it as a competitive advantage

As we have previously uncovered in ‘Playing Our Part In Creating Sustainable Brands (Part Two)’, consumers are supportive of sustainable brands with 77% indicating that they are “looking for brands that are sustainable and environmentally responsible.” (IBM Institute for Business Value). So as a business, green marketing (also known as sustainable marketing) seems like a no brainer. However, it is essential for businesses to plan and execute green marketing carefully or brands could risk being seen as green washing consumers and, in doing so, may face losing brand equity rather than gaining it.

This article will focus on what green marketing consists of and what brands need to consider when developing an effective green marketing strategy.

What is green marketing?

Green marketing is when a brand or business has environmental and socially responsible products, practices and values incorporated into their daily functions that they can communicate to consumers.

Let’s look at a local example, Australian homeware brand, Koala. Not only are their products manufactured in a sustainable manner, but they have also woven sustainable and ethical practices into every business sector showing their commitment to sustainability. In fact, they are B-Corp certified meaning that their business meets the highest standards of verified environmental and social performance. They have considered the full lifecycle of their products and prioritise a circular economy through their mattress recycling programme. Furthermore, they give back to the planet through their partnerships with World Wildlife Fund and 1% for the planet.

What are some considerations brands need to make when developing a green marketing strategy?

  1. Define strategic goals – like any marketing strategy, set clear goals upfront so your progress can be measured.

  2. Consistency is key – for a green marketing strategy to be consistent, start by identifying the fundamental values your business is trying to support. Focus on these values by incorporating into the way you manufacture your products and translate into relevant business practices so that they are consistently woven into your business. A lack of consistency can be easily identified by consumers and can ultimately cost your brand its credibility.

  3. Clearly communicate – ensure your brand values are communicated clearly across marketing channels over the long-term to build credibility as opposed to a short-lived campaign which may be lost on loyal, long-term consumers.

To summarise, for a brand to be positioned as being truly sustainable, it needs to not only position itself as one but live up to its claims through all its daily operations. The Brand Foundry has a team trained in business sustainability that can assist in developing marketing strategies which can identify and promote your brand’s sustainability story. To learn more about how we can help your brand, contact us here.

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