In today’s business world, everyone talks about “going green.” Being environmentally friendly is no longer just the right thing to do; it’s become an expected behavior. Today, people demand more from companies they do business with and brands they intend to buy.
EMA conducted a national survey to gain insights on business leaders’ drivers and barriers of implementing energy-efficient initiatives or purchases. The main driver for all decision-makers when it comes to implementation is cost savings. But beyond this, there is another driver we as marketers must help them see: The edge.
Cost aside, what else matters?
Here are four insights gathered from our research that show how companies can get an edge from implementing sustainable practices.
1. Saving energy means saving money
According to EMA’s study, 61% of respondents place an emphasis on practices that improve energy efficiency and consumption due to cost savings. In fact, 63% say that cost savings is the key benefit of energy-efficiency measures.
Adding greener strategies not only reflects positively on a company’s leadership, it also allows the business to run more efficiently by conserving energy and spending less. These savings can be applied to other business goals, which bring value to all stakeholders while demonstrating care for the environment.
Nearly half (47%) of respondents believe that energy-efficient practices help sustain business.
Sustainability can lead to broader benefits, such as increased productivity and enhanced brand reputation. Predictable energy costs and environmental stewardship are additional benefits of an energy-efficient or sustainable practice.
3. Attract and retain talent
Of those surveyed, 34% believe it’s extremely important for a company to be perceived as environmentally responsible in the recruitment of talent and acquiring new business.
Prospective and current employees will appreciate an organization that cares about the community and environment.
4. Show customers you care
As many as 37% report that they do not communicate their energy-efficiency or sustainability initiatives to the public or market.
Energy-efficient investments demonstrate a caring image. Consumers are more likely to buy products from a company they can relate to and trust.
As our research shows, corporate sustainability doesn’t just positively affect a brand — it strengthens relationships, demonstrates leadership and improves overall business strategy in an increasingly competitive market. By communicating these principles, marketers can help decision-makers realize how this “greener” edge will pay dividends for the company.