Don’t Underestimate the Value of Being Green

In a day and age where the conventional thinking is that no one is willing to pay a penny more for anything… turns out that that’s not quite the case.

Researchers at the University of Missouri have found that consumers really are willing to pay more than just a little bit for a firm’s efforts to be environmentally friendly or to support businesses who have sustainable practices.

They’re even willing to pay 15-20% more.

That’s good news for the environmentally friendly firms who really are living up to their brand image, but beware posers: consumers are also skeptical of firms claims of supposed “green-ness.”

Ensure if your firm is including “sustainable” or “green” messaging in your branding that you really are living up to the image your presenting. Then, the research suggests, be sure you are communicating your product’s value.

Being green isn’t enough, the researchers note. The product still has to deliver value and still has to demonstrate a competitive difference.

 

 

Category: Environmentally Friendly

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