We all know when there is change there is opportunity.
We also know, you need to be ready for when your opportunity comes.
There is a growing interest from consumers to ‘buy local’. This benefits SMEs (small to mid-sized enterprises). But, to win those consumers, this article tells us, consumers are demanding you prove you are a Good Corporate Citizen by being a sustainable company.
- Consumers and investors are becoming better able to investigate and uncover Greenwashing (ie, saying you are sustainable when you are not);
- 9 out of 10 consumers say it is important for your company to be environmentally sustainable;
- 64% of them say your company’s performance on environmental and social issues is a factor in their purchase decisions;
- 25% of them have already switched brands due to their sustainability beliefs.
Think about that last point – 25% of consumers have already switched brands due to their sustainability beliefs. Was your company ready for when those consumers were making their decisions and did you win that business?
Those were the Innovators / Early Adaptors. The next 25% – 35% is the Early Majority. That’s happening right now. Are you taking or giving market share as they switch? If you are the giving type, think of the cost of trying to win that business back.
What about when the Late Majority’s 20% takes the plunge? Will you be ready for them?
Or will you wait for when the Laggards finally come around?