Sustainable Business Model
Value to customers
Over 50% of people now buy or want to buy brands that are more sustainable according to Unilever research, and this is expected to grow. As a growing segment of every sector, you face a shrinking market if you fail to address their needs. The only way you can effectively do this is genuinely look at how to increase the sustainability of your products and services across your value chain.
A typical value chain would be design, sourcing, production, distribution, sale, use and disposal. Your approach to improving sustainability within it must be authentic. It doesn’t have to be perfect – just share the progress you have made and challenges you still face with those who are interested.
Capturing feedback on the sustainable features and benefits your customers care about will help prioritise your product / service and business development. Really effective communication with them on the issues is therefore key. As a very heavily marketed group, millennial can smell marketing spin from a long way off, so avoid the temptation to self appreciate on the issue.
You value proposition to customers may not change. Sustainability could become an increasingly significant part of it. But do not rush to shout about these features until you know they are valued by customers. You will know you are heading in the right direction when customers do the appreciating.