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Sustainable Marketing Agency Gazelle Media

The Benefits of Sustainable Business Practices

Building a Community-Driven Brand: Benefits of Sustainable Business Practices 

Our market-economy systems have experienced a massive shift in the past few years. Sustainable business practices were introduced, rejected, re-introduced, questioned, and eventually crowned as the only way forward. Initially, only a small group of sustainable brands were encouraging consumers to reconsider their buying decisions and become ‘eco-friendly’. Today, the roles have changed. These consumers are independently deciding to patronize or abandon brands, depending on their level of sustainability. 

What are sustainable business practices? 

These are practices that are applied within an organization to reduce their negative impact on the environment, natural resources, and their internal and external stakeholders (e.g., employees and consumers). Some examples of sustainable business practices are reduced waste production, switching to renewable energy, empowering employees, sourcing products from ethical factories only, and so much more. 

Whether you’re a small, mid-sized, or large-scale business, you can no longer push off the importance of moving to sustainable business practices. The first and most obvious reason is that we need to protect our environment and manage our resources. The other is that your target consumers are becoming more sophisticated. They are aware of the power they have in controlling the market. And according to data provided in reports such as this Harvard review, they are voting (with their money) against non-sustainable businesses. 

This shift should be made to ensure that your business has a place in the future market. 

Here are the benefits that businesses could provide and experience through sustainable practices. 

Build a community-driven brand 

Many sustainable brands enjoy most of their marketing reach from their communities. Business, for them, goes beyond transactions. They’ve created spaces where people can connect with others who share similar interests, beliefs, and concerns. These communities are effective in word-of-mouth marketing for brands because they genuinely believe in the brand values they promote. Lush Cosmetics is a popular example of a sustainable brand that snowballed because of its community. Their strategy includes less promotional buzzwords and more of value offering to their consumers. As a result, they have one of the largest communities that create user-generated marketing content, provide glowing reviews, and encourage others to patronize all for free. 

Reduce your environmental impact 

The most significant environmental concerns of today include climate change, waste buildup, ocean pollution, and loss of animal habitat. Your business can reduce its contribution to these issues by reducing waste, recycling, and exploring alternative energy sources such as solar. 

There are also concerns that factories treat employees (or human resources) unethically by putting them in unsafe environments and paying low wages. Even in non-manufacturing companies, employees still encounter extreme pressure and burnout. You must ensure that your business is only aligned with companies that have an ethical standard. When you have these measures in place, you can answer related questions from your public with full transparency. 

Gain market share in the growing sustainable industry 

A long-held misconception is that consumers like the idea of sustainable products and services, but will go for non-sustainable options. The current market trends show that this is changing. An NYU study shows that between 2013-2018, products marketed as sustainable grew 5.6x faster than others. Sustainable products outperformed non-sustainable in over 90% of the categories examined. 

When brands can provide functionality along with a solution to sustainability concerns, consumers will give them their money. With this information, it’s easy to see that non-sustainable brands are steadily losing their market share. To protect your company’s future interests, you will have to align with the changing demands. 

Conclusion

The decision to move your company towards sustainable practices should not be put off any longer. The process will require some work, but this can be managed. Start by placing an ethical question behind all your practices. Look for alternatives where needed. If they don’t exist in your industry, maybe it’s time to create one. Finally, communicate your growth and changes in your marketing messages.

A total shift in branding is a lot of work for any business, small or large. At Gazelle Media, our team of experts is available to offer brand consultancy and re-branding services. Our mission is to help brands achieve their vision of growing their business sustainably. Reach out today for a discovery session to find out how you could become a market-driver instead of being market