Engage Everyone to a Sustainable Future
The purpose of a business is to create and keep customers. With Generation Z (born between 1996 and 2011) about to become the largest market, it’s vital to note that 92% of Future-Gen customers would switch to a brand that supports sustainability issues over one that does not.
According to the International Valuation Standards, a Framework to Assess ESG Value Creation Opportunities at the Enterprise Level identifies six characteristics:
Reliance on Brand/Brand Strength
Reliance on Human Capital and Workforce Skill Level
Nature of Customer Relationships
Premium to Book Value and Value-added Business Model
Tangible Asset Intensity
Market Dominant Technology
Everyone can claim that they are a sustainable brand, but what matters is how that brand makes potential customers feel. Brands that are truly seen as sustainable evoke an emotional reaction from consumers on a deep, personal level.
Loving a brand or caring for a brand does not automatically make it believable. True sustainability for a brand depends on the business walking the talk.
In an era of sustainability, having a systematic action plan can definitely help to focus on a common perspective, like the Sustainable Development Goals (SDGs). This fantastic list of 17 goals, created by the UN at the 2030 Agenda for Sustainable Development, provides a manageable framework to view the world’s problems.
SDGs are also becoming increasingly important to investors. A PwC survey of global companies revealed the 72% made reference to the SDGs in annual or sustainability reports.
Without this UN-backed framework, we cannot buy into a sustainable vision of the world. The SDGs also can be aligned with ESG (please contact us for details), which in turn helps companies promote sustainability, philanthropy, and public social impacts.
Without the objectives and facts, we cannot act upon or pass on accurate and useful information. But now we that we are aware of some of these problems, we must reassess for our future and take action.
With both customers and investors subjected to thousands of brand messages a day, business must make an impression quickly. Studies show that the first seven seconds that a person engages with a brand is often make-or-break.
Effectively communicating your business credentials and providing legitimate proof to back up your sustainability claims by independent third parties is important verification for all stakeholders.
Tap into potential customers – Winning the prize gives your business credibility with potential customers. This is particularly pertinent amongst younger customers.
Tap into potential investors – Companies that are both financially robust and environmentally sustainable in their operations are particularly attractive to investors. An award offers instant evidence of a company’s progress in sustainability.
Tap into staff members – Winning shows your staff that you are a caring organization and can provide positive reinforcement to staff members improving pride, loyalty, trust, and a sense of ownership.
Tap into sustainable business – Integrating annual non-financial reporting and an organizational renewal can help balance both short and long term decisions, helping to push a company towards a more sustainable business model.