Explore essential insights for marketers on sustainability, guiding eco-friendly practices, and green marketing strategies. Stay informed to integrate sustainability into your marketing efforts effectively.
The interest in sustainability among consumers, especially Gen Zers, is growing rapidly. Nearly half of Gen Zers prefer brands that support sustainability, according to data from ISCS and Big Village in March 2023. Here’s a closer look at how brands and marketers are accepting sustainability in 2024.
1. Businesses Need to Speak Up About Climate Change
A whopping 55% of US adults believe that businesses should take a public stance on climate change, making it the top issue for businesses to address, as per data from Gallup and Bentley University in May 2023.
2. Sustainability Isn’t a Priority for Most Marketers Yet
Surprisingly, only 18% of senior marketers worldwide considered sustainability a top priority in 2023, according to a report from MediaLink in October 2023. However, this focus on sustainability has more than doubled from 8% in 2022.
3. Marketers Are Shifting Focus to Sustainability
The tide is turning as 64% of marketing professionals worldwide expect social impact and environmental sustainability to become more important in the next two years, surpassing even customer acquisition and brand purpose, based on data from Eco consultancy in July 2023. This shift aligns with consumer sentiment, with 78% considering sustainability important when buying a new product, according to Blue Yonder.
4. Marketers Are Investing in Sustainability Efforts
Many North American marketers are putting their money where their mouth is, with 56% allocating between 11% and 40% of their budgets to promoting business sustainability efforts, as revealed by Dentsu in August 2023. However, 32% are still dedicating only 10% or less of their budget to sustainability.
5. Focus on Ad Supply Chain Sustainability is Growing
In 2024, 22% of US media brands and agencies are expected to prioritize ad supply chain sustainability, according to the Interactive Advertising Bureau (IAB) in November 2023. Companies like Microsoft Advertising are taking steps to reduce carbon emissions by offering ad blocking on high-emission sites, while new ad tech firms are emerging to assist advertisers in reducing environmental impact. This focus is crucial as inefficiencies not only harm the environment but also waste advertising dollars.
In conclusion, sustainability is gaining traction among consumers and marketers alike. Businesses that prioritize sustainability in their messaging and actions stand to gain both environmentally and economically in the long run.
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