Per a recent study discussed in this article:
- 92% of consumers are now doing sustainability research prior to purchase – Let that soak in.
- If they cannot confirm you are a sustainable company, 46% will call a sales rep to find out if you are – How will that turn out for you?
- 27% won’t ask a sales rep; they will simply move on to another vendor – Think about the cost of winning them back.
Given that less than 1% of SMEs are certified sustainable and 9 out of 10 consumers are asking if you are sustainable, odds are, the above is going to happen to you.
You’re damned if you do and damned if you don’t –
- If you say you are certified sustainable, but are not (ie, if you greenwash), you will be exposed, and your company will suffer brand damage, financial damage and possibly legal damage.
- On the other hand, if you simply ignore becoming certified sustainable, you will lose 27% of your prospects and, if the sales rep does not lie for you, over time, you are going to lose 73% of your customers to a certified sustainable vendor.
Of course, you will not survive long enough to lose 73%. At some point after you’ve lost 20 – 30% of your customers, you will fold tent.
Or you will try to greenwash, thinking, “I am going down anyway, what’s the difference?”
Or, as a laggard, you will become certified sustainable, yelling, “Me too!” and still lose, as you are now overspending on advertising, and cutting margins, in an attempt to win some customers back; while your competitors ridicule you for only caring about the environment when you were forced to.