Transforming sustainability into a brand and business strength is no longer a choice, but a necessity in today's world. Discover the strategies to make this transition seamless, while enhancing your brand's reputation and driving business growth.
In the race to sustainability, many brands are diluting their identity and relying on undifferentiated strategies to ensure environmental efficiency and social compliance along their supply chains
The challenge lies in the quality of sustainability investments brands are willing to pursue, but also in their ability to communicate the reasoning behind these efforts.
- In the post-pandemic world, most luxury brands have decided to include a version of sustainability and social responsibility in their mission statements, but many shy away from elucidating consumers beyond these statements.
Sustainability can help de-risk the business
Focus on developing customer loyalty by leveraging social listening to understand the tangible importance of sustainability on brand value.
In the business of sustainability, to be proactive is to win
Brands proactively focused on sustainability initiatives capable of generating the greatest social and environmental impacts but also the greatest long-term business growth and brand value are set to win in the marketplace
- An uninformed approach to sustainability puts brand identity at risk and will rarely lead to meaningful supply chain improvements
Take a Stance
Taking a stance can help widen the scope of the addressable market
- By taking a stance that reflects its brand values, a company can reach consumers who wouldn’t normally consider its products
- Increasing the perceived value of products is a prerequisite for expanding the size of any brand’s reach
- This increase can be accomplished by adding emotional resonance and a symbolic dimension to a brand
Long-term thinking is a competitive advantage in itself
If the benefits of a given sustainability initiative fail to justify the investment on economic grounds, brands typically turn to initiatives that signal short-term results.
- But in sustainability management, long-sightedness can be a competitive edge in itself
