Sustainability is about continuity, adopting behaviours and practices to ensure that the planet is inhabitable, and resources are available for future generations. Similarly, sustainable marketing is about longevity, swapping short-term gain for long-term success.
According to research, 77% of consumers claim that brands’ sustainability practices play a role in their purchasing decisions. To protect the future of the people living on our planet, 2021 has to be the year where brands make the move towards sustainable marketing. The main aim of sustainable marketing is to make products and services that will help save the environment and encourage their consumers to do the same.
The sustainable marketing concept includes three pillars: Environmental, Economic and Social.
A brand has to make an effort to understand its customers’ wants and needs to maintain customer loyalty.
This year the annual marketing festival of MICA, Ahmedabad- MICANVAS has introduced a new sustainability-driven event called, “Prod-It-Friendly” consisting of three rounds wherein participants have to use their practical, analytical, and critical thinking skills to solve real-world problems that revolve around sustainability.
This not only tests their creativity but also how they think and analyse issues that have a real-world impact on the world. The event has exciting rewards for the winners and runner-ups so the competition is high and fierce!
Matching your brand values to the consumers’ values is key to successful branding and business prosperity. Nowadays, people have become more eco-friendly, more sustainable, and more conscious of the environmental impact of their purchases. These value companies should strive to ensure steady customer acquisition and satisfaction.
In fact, research has shown that 47% of consumers walk away from brands that don’t take a stand on sustainability, with 17% never returning.
Some of the top advantages of opting for sustainable marketing include:
- Increased brand recognition
- Reduced costs and improved effectiveness
- Easier compliance with regulations
- Better customer and partner acquisition
- Minimized waste
- Increased ROI
For any marketers that haven’t started, it’s time to give sustainability your focus. And for the unconvinced – for those that believe that making progress on environmental impact is a job for your Sustainability team alone – we’ll leave you with a quote from Robert Swan: “The greatest threat to our planet is the belief that someone else will save it.”
Ultimately, sustainability is a part of our lives as it makes sure that the future we have is better than the present we live in. The onus of sustainable living practices is on each one of us; and through its events, partnerships, and collaborations MICANVAS 2021 aims to achieve just that!