It Isn't Easy Being Green
Now is a wonderful time for companies that offer an environmentally friendly product or service. Political, environmental and economic concerns have created a marketplace that's extremely receptive to the idea of going green. But, before you proclaim your credentials from the treetops, consider Jacquelyn Ottman's five rules of green marketing:
Now is a wonderful time for companies that offer an environmentally friendly product or service. Political, environmental and economic concerns have created a marketplace that's extremely receptive to the idea of going green. But, before you proclaim your credentials from the treetops, consider Jacquelyn Ottman's five rules of green marketing:
- Not everyone shares the same concerns. Be sure your audience is aware of the issue your product addresses, and wants to do something about it. "Whirlpool learned the hard way that consumers wouldn't pay a premium for a CFC-free refrigerator," writes Ottman, "because consumers didn't know what CFCs were!"
- Explain how your product makes a difference. No one wants to feel like their contribution is a drop in the ocean, so provide a compelling demonstration of its environmental benefits—whether on an individual or collective basis.
- Preempt skepticism with transparency. Make it easy for customers to see your commitment is genuine. "Consumers must believe in the legitimacy of your product and the specific claims you are making," Ottman says.
- Position your product as a high-quality alternative. Reassure customers that it performs at least as well as trusted products from your not-as-green competitors.
- Consider the impact of premium pricing. Customers might understand why your product costs more, but that doesn't mean they can afford the extra outlay—or that they think it's worth it.
The Po!nt: According to Ottman, "A strong commitment to environmental sustainability in product design and manufacture can yield significant opportunities to grow your business, to innovate and to build brand equity." But do your homework before diving in.
