Going Green: Can It Make Your Business More Successful?
Here's the answer: Yes, conveying your corporate focus on sustainability can make your company more successful.
In a survey conducted by The Conference Board and Nielsen, 81% of respondents said they feel strongly that companies should implement programs to help improve the environment.
Consumers are concerned. They recognize environmental factors pose threats to their health, so they look to the goods and products they purchase for change. As consumers adjust their shopping habits, they expect the companies they shop from to take responsibility for the environment.
Here are a few ways going green can make your business more successful.
Increase Shareholder Interest
Kellogg researchers released a paper that suggests a company’s sustainability stance can improve its chance of capturing shareholders’ interests.
Green companies are more likely to adapt better to and outlast any sudden industry changes like consumer interests in eco-friendly products and environmental regulations.
Shareholders look for good deals. If it seems like a company will be successful and outlast others in the process, that company will do well with investors.
Going green makes your company a better investment for shareholders.
Increase Supply Chain Efficiency
You can increase your company’s supply chain efficiency by changing your shipping practices. By investing in environmentally friendly vehicles, your company can take advantage of high-efficiency travel lanes. You can also cut down on fuel costs.
This also helps with giving your company a sustainable image to the public.
Grow Your Customer Base
Going green is also the best choice when it comes to growing your customer base. Since 2016, millennials have taken over baby boomers as the largest age group in America. According to the same survey above, millennials were the largest percentage of responders that said they care about the environment. Choosing to be sustainable can land you new and loyal business from the largest group of consumers in America.
According to the U.S. Environmental Protection Agency, up to 45% of municipal waste is generated in the workplace. By installing easy, consistent locations throughout the office for employees to recycle packaging, paper, and other materials, companies can reduce monthly waste disposal fees.
There are many reasons why going green is the responsible thing to do for your company. The fact that it can save you money is simply the cherry on top. Read more on how going green can help your company here.
Ready to take a stand and attract more customers?