Consumers are demanding more green products and services and helping the environment can help your business too. The new “wave” of consciousness, and especially, after the Al Gore documentary “An Inconvenient Truth”, offers a chance for every person or company to make more money with the Eco-Responsibility issue.
Here in the U.S. about 85% of Americans would switch brands for environmental reasons according to a Cone Environmental Survey back in 2007. In 2013, Nielsen surveyed 30,000 consumers and 42 percent of those consumers in North America agree they would pay more for products from sustainable sources. A business going green makes customers feel that it is a trustworthy business.
Here bellow are five ways we think any company can make money by going green:
a) Reduce, reuse and recycle.
b) Attract people with passion for the environment.
c) Increase the amount bought per purchase in 3.5 more times – it is more significant than increase frequency of purchase.
d) Get ahead of regulations – getting ahead of potential threats, instead of reacting when they happen, gives you an overt advantage over your competition.
e) 3.7 times greater chance of achieving sustained success – the green movement offers new opportunities to differentiate your product from those at your competitor.
Most states and countries have laws on the books that mandate environmental compliance in various ways and forms, to varying extents. Every year more laws are passed on local, state, and federal levels as we understand how positive going green is in Earth’s ecology. Going green means getting ahead of the curve — if certain green laws aren’t on the books they soon will be and it gives a company a leg up to begin as soon as possible.
The conclusion is that the time and money it takes to establish new environmentally green protocols pay back in dividends over the years, not only in money but also in feeling good that the company is good to the planet.