Quick to cash in on going green
Brandon Wall
Issue date: 4/1/09 Section: News
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Armed with hard facts and a compelling story, Al Gore's award-winning documentary made the effects of global warming a dinner table topic of conversation not only across America, but across the globe. The discussion quickly evolved to a form that was sure to grab attention of consumer-minded Americans; not just how to save the environment, but how to save money.
Businesses small and large quickly jumped on the "green marketing" bandwagon. From light bulbs and power generation to household cleaners and automobiles, this phenomenon seems to be not so much a trend as it is our new way of living.
About.com describes green marketing as, "the process of selling products and/or services based on their environmental benefits."
In an age where consumers are slowly coming to distrust and even despise "dirty" companies like Exxon Mobil, entire consulting firms have popped up based solely around crafting a "green" image for a company. But if the past is any indication, consumers cannot rely on the word of a company alone.
Susan Ward, a small business writer for About.com, outlines the keys to successful green marketing. Her very first point outlined is to be honest with the consumer. She explains that, "Being genuine means that that you are actually doing what you claim to be doing in your green marketing campaign."
There is no doubt that green marketing has quickly become a profitable business.
"Green has gone mainstream," explains Adam Adamson, managing director for Landor Associates in an interview with USA Today. "Research shows many folks will pay more for eco-friendly goods or services."
Wal-Mart is one of the few companies that has actually found increased business in these tough economic times. While the company is known for clashing with labor groups and local citizens (complaints frequently revolve around it driving local businesses to close and its distaste for unions are relatively well-known), it has found economic sense and cents in adopting green policies to cut business costs.
Wal-Mart is the single largest private consumer of electricity in the United States but has pledged to cut energy consumption by a whopping 30 percent in the next decade. In 2005, company CEO and President Lee Scott hired Conservation International, a nonprofit group more known for working with indigenous people to protect their lands, to assist Wal-Mart in adopting sustainable practices.
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