If you’re wondering how you can better impact the environment through your business actions, you’ve come to the right place!
Did you know that big fashion companies are choosing to take actions that are thoughtful with people and the planet? The world demands fast speed and companies have to keep up with it. Recently, Nike has released the Move to Zero program, that targets the implementation of better practices and values by 2025. And, of course, this is all shared with the public, aiming the customers who purchase thinking about conscious matters.
Here in this article, you will learn what Sustainable Marketing really is. Also, how it can help change your business to become more eco-friendly for consumers and the Earth. Furthermore, you will learn why it is important to the fashion world. And we’ll share 5 sustainable marketing principles that you can implement today.
Keep reading!
What is Sustainable Marketing?
Sustainable Marketing, or Green Marketing, is when a company implements social and environmental characteristics to the company’s marketing action plan. Sustainable marketing brings awareness to the connection with their customers. In other words, it happens by making ethical choices that target a positive environment for the future.
Sustainable Marketing is not only good for the world but great for your business.
Some factors that an entrepreneur should take into play are the Triple Bottom Line. They are:
- People, Profit and Planet
- Social, Economy and Environment
The bottom line is for the companies to balance these factors to still earn profit while continuing to make sustainable decisions. For example, a business can implement eco-friendly products into their brand. They’ll ultimately impact the People (consumers), Planet and Profit in the long run.
Sustainability Marketing can include changing the product design, service design, packaging design, pricing strategies and disposal options. Companies could create sustainable products that one can recycle and reuse for the future, instead of harming the world by creating non-biodegradable products that end up in landfills.
The Importance of Sustainable Marketing in the Fashion World
Not only is Sustainable Marketing important for all businesses that ship and sell physical products, but especially for fashion businesses.
Did you know that global clothing production doubled between 2000 and 2014? The fashion industry alone is responsible for at least 10% of the carbon emissions in our world.
However, another example of how a fashion business can apply Sustainable Marketing is by using recycled materials in the fabrics and packaging and advertising that the brand cares about helping the environment. Textile recycling is helping with pollution avoidance, decreasing landfill space and greenhouse gasses and ultimately helping people in need.
Many companies with such purpose and technology are showing up in the market, but still, it is not an easy industry to get in. However, small or medium businesses should not feel stuck. That is why there are initiatives, like Fashinnovation Ventures, to support business owners in the fashion & tech industry. That is because all sizes of companies are essential to bring about better practices in the industry.
McKinsey & Company states, “the fashion industry could become 80% circular by 2030 if there is increased investment in existing recycling technologies and infrastructures. It demonstrates that pre-competitive collaborations can play a critical role in accelerating the industry’s transition to sustainable and inclusive growth, focusing on the case study of textile recycling”. Also, fashion labels are becoming more informational to keep brands accountable for the origins of their products. These are just more examples of Sustainable Marketing in the fashion realm.
As sustainability is becoming more important to consumers, having details of how, where and what the product is made of is a huge positive step for the exposure of a product’s creation process and marketing strategy.
There are 5 more marketing strategies that are a part of sustainable marketing that can help increase the liability and character of your business’s brand.
Five Principles of Sustainable Marketing
Intro to the principles here!
Here are the 5 Principles of Sustainable Marketing that you can implement into your business. These principles will take your business to the next level for understanding your consumer’s needs while instilling a circular economy.
- Consumer-Oriented Marketing: means that the company views its marketing strategy from a consumer’s point of view.
- Customer Value Marketing: means putting most efforts and resources into improving the value added to the offering. As the company creates value for the consumer, the consumer creates value for the company in return.
- Innovative Marketing: means to never stop finding better ways to develop products, services and better ways to market.
- Sense of Mission Marketing: guides the firm to define a broad mission that speaks to society rather than the product itself. This gives the company a clear long turn direction and serves the interests of the brand and consumers.
- Societal Marketing: balances decisions based on the consumer’s wants, the company requirements and the customer and society’s long-term interest.
Based on your business’s mission and purpose, you can choose which of the 5 principles best match your brand. The majority of the principles are consumer-based in order to keep consumers as brand fans and supporters.
Concluding
Summing it up, businesses including sustainable actions are expeditiously becoming more and more important for the sake of all living organisms on this Earth.
In addition to that, Sustainable Marketing is an example of an effort brands have to showcase that they are aware of the alarming situation of our environment. It is important for all business segments to promote better practices and brand values, showing the customer their engagement with such matters. Therefore, this demand can be positive to educate businesses about eco-friendly and socially responsible marketing activities.
Also, climate goals are on the rise as the COP26 (2021 United Nations Climate Change Conference) leaders realize the harmful actions from the fashion industry that are impacting our world. An open letter was even created to reduce clothing waste, change supply chains and even teach children how to revamp and recycle their clothing in order to have the mindset of sustainability from young.
Environmental positive moves are a thing of the present and the more conscious we are as consumers and business owners of the world, the faster we will be able to save our world.
For you to learn more about building a sustainable brand with a traceable supply chain, read our article about it!
