No matter the type of business, competition is fierce out there. There’s a constant battle to win the hearts and minds of consumers, employees, investors, suppliers, and others. Features that once distinguished one brand from another become less relevant as market dynamics change over time.
Price, convenience, quality, profit margins, delivery times, and customer service are a few selling points companies use to set themselves apart. But when it’s difficult to market much of a difference among them, it’s time to latch onto something new. Of course, that “something new” has to resonate with stakeholders to have an impact.
More and more people are placing environmental issues at the top of their list of priorities. As they do, companies need to embrace sustainability and corporate responsibility. Then, they need to use that commitment to their advantage. Here’s how businesses can leverage sustainability to edge out their competition.
Make Sustainability Part of a Company’s Core Mission
Making sustainability a priority requires a lot more than paying lip service to saving the planet. If a company wants to tout its commitment to sustainability, it’s going to have to demonstrate it all day, every day. Making it part of a business’s core mission means it won’t be just a sideline issue. Instead, it will be a major consideration in all operational strategies.
It’s easy to see where the disparities could be. For example, a brand that says it produces green products but packages them in single-use plastics is problematic. To prove itself, the company needs to work with a packaging manufacturer that provides options with the least environmental impact. That may cost more, but it’s the proof of life necessary to use it honestly and effectively in a marketing strategy.
Company business models and strategies should incorporate sustainability at every turn. That means supply chains, procurement, fulfillment, shipping, and every other operation should address the issue. Every conversation about the company should turn to sustainability at some point.
Shaping a business committed to sustainability is an investment in the future of the company and the planet. That’s what stakeholders are looking for when they’re deciding who to buy from, where to work, and who to partner with. Companies that make it a core part of their mission will have a leg up on the competition.
Use It for Investment Capital
Companies are always looking for ways to increase profitability. Often, that involves upgrading equipment, technology, and systems. Or it may mean ramping up R&D and expanding product and service lines. Because all those cost money, businesses often look outside for those willing to lend or invest money with them.
Brands can implement a sustainability risk management strategy to make them more attractive to lenders and investors. That means linking goals for profits to their environmental, social, and governance policies. Again, companies can’t just offer empty promises about their commitment to sustainability. They must demonstrate the issue’s strategic importance for them.
Lenders and investors are looking for businesses that pose limited risks on multiple issues. Brands that build a sustainability strategy address climate change, clean energy, supply chains, and other potential risks to their viability. That kind of evidence makes those companies attractive targets for investment.
For most companies to grow, they’re going to need financing at some point. Those whose ESG goals are part and parcel of their overall business strategy are prepared for the future. And that will instill confidence in those considering where to put their money.
Feature It in Content Strategy
People are increasingly concerned about sustainability. Companies that champion it in their mission and operations are naturally going to appeal to those who are. But brands shouldn’t just hope browsers will read the ESG page on their website. They should put the issue front and center in their marketing content.
Great content should inform, educate, and inspire readers and viewers. When a company features sustainability in its strategy, it’s taking the opportunity to do all of that. In the end, it’s creating a more informed market that may realize the positive impact sustainable practices have on the future. That could be the difference between that company and every other one.
Businesses that don’t engage in sustainability may think their lower price gives them a competitive edge. But educated consumers are usually willing to pay a premium for sustainability, even in the midst of rising prices for everything. That gives these brands the lead over their environmentally unconscious competitors.
If target audiences are concerned about sustainability, the content they absorb will position those brands out front. And if they aren’t too concerned about the issue, environmental-facing information won’t turn them off. It’s simply an added bonus to doing business with companies committed to helping the planet.
Use Leverage to Get Ahead
It’s tough for businesses to rise above the noise and get noticed. Those that make sustainability part of their core mission can be heard. They can use it to protect themselves against future risk, which is what lenders and investors want to hear. They can remind stakeholders that they’re making a difference in the world by featuring sustainability in content marketing strategies. Smart companies that pull those levers whenever possible will edge out the competition.