The benefits of going green as a business right now are manifold. Eco-friendly practices used by canny business owners are not only showing strong results on bottom lines; the positive effects of going green also manifest themselves in employee productivity and morale, as well as your brand’s image and reputation. Read on to learn about six key benefits of going green as a business owner.
Marketing Benefits of Environmentally Friendly Businesses
These first three benefits of going green for business involve the key marketing concepts of customer relationships and reputation.
Meet Buyers’ Expectations
Many people center their lifestyles around sustainability these days. Shoppers want to do their part for the environment by exchanging their money with businesses that they trust will make a difference. Most prominently, this expectation comes from millennials, who are eco-conscious consumers. This group has been reported as very willing to pay more for brands that they believe in, such as health/wellness, sustainability, organics, eco-friendliness, and other social values.
Strengthen Customer Loyalty
In addition to standing out to new customers, going green can also help you to strengthen your relationship with your existing customers. Whether you appeal to those who are conscious about the benefits of going green, or inspire and educate those less involved, adding this to your business’s mission is a great way to strengthen ties. Eco-conscious shoppers show extraordinary brand loyalty when they know they aren’t just getting good quality products, but also an environmental commitment and a follow through.
Improve your Reputation
Going green means you’re taking action to help the planet and the people who live on it—not just yourself and your customers. Going green also benefits the American economy as a whole, and supports a national cause to become an energy-independent country in more ways than one. One of the biggest benefits of going green is that it improves your image in the eyes of your audience as caring and aware.
Business Benefits of Going Green
The previous three benefits of going green were more focused on marketing. This next section goes over the benefits of going green that are more directly related to your business operations.
Create A Healthier Workplace Environment
Employee morale is one of the cornerstones of business. Whether it happens to be just you or an amazing, hardworking group of individuals, the people are the most important aspects of every business. Improving the quality of life at work with green technology, paperless processes and paychecks, recycled paper options, green cleaning materials, and green energy will in due course improve your entire business. Show that you care not only for the well-being of your customers and yourself but also that of your employees and the community as a whole.
Go Green and Save Money
As we’ve mentioned before, going green saves you money. Long-lasting, efficient light bulbs like CFLs and LEDs are decreasing the amount of electricity businesses use, lowering their utility bills. EnergyStar appliances and technology will keep your business running on an energy-lean diet. Not only does this help businesses responsibly use energy; it also leaves money in the budget to invest elsewhere, improving the bottom line.
Take Advantage of Available Tax Benefits
Investing in renewable energy and green technology could qualify your business for tax-related benefits, in the form of credits or deductions. Take a look at tax programs for your state and even federal programs to see if you qualify.
Going green helps the planet and your business. It can help with differentiating you from the competition, attracting customers who care about the climate, and in saving money. Start taking steps to go green and see the positive impact you can make.
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