Brand Health in 2022: The Mystery Solved
Prioritizing brand health is essential in the fluid business market companies to navigate. In this regard, we’re seeing strategic focus shift onto the notion of sustainability and how it can be an invaluable tool for 2022 and beyond.
The practices of brand health tracking and the analysis of brand health metrics are standard practices in the world of business. After all, they serve as a critical indicator of an organization’s success, wellbeing, and long-term outlook. In this regard, the concept of bolstering brand health is popular among companies, with many looking to adopt the following best practices in encouraging it.
It’s no secret that today’s business world is highly influenced by the turbulent and ever-developing society that we live in. Organizations have learned to respond and adapt to public trends and opinions, given their direct capacity to determine how well they are received. This has proven to be essential for business viability, as it signifies the effectiveness of which they are connecting with and growing from their consumers.
With this notion in mind, many have been speculating on the following priority to the market and how brands can use it to support their long-term health. What seems to be the answer is sustainability.
Brand Sustainability As A Priority
Amidst the massive onslaught of environmental disasters, crises and dysfunctions we’ve seen over recent years, the notion of building a greener world has become a significant point of interest for people. In this regard, many are looking to major businesses as the first step in implementing a successful solution.
As a result, it’s no surprise that more and more companies are prioritizing sustainability in their missions and that we’re seeing a growing consensus on the thought that sustainability will be crucial to brand health in 2022 and beyond.
The implication for marketers is significant – in order to effectively appeal to consumers in the future, it is now more imperative than ever for them to convey the values of sustainability in what they create.
With this call to action has come a practice of taking strategic efforts to address it, with environmental, social, and governance (ESG) reporting becoming prevalent among many companies. More and more brands are employing initiatives to report their environmental impact and speak to this growing public issue’s importance in their operational future.
Empty statements aren’t seeming to cut it, either. There has been growing attention to the market for sustainable brands to back their claims up with what they do. The general public has shown a considerable demand for transparency and authenticity regarding the brands they support. When a brand’s actions and messages are connected to tangible, measurable outcomes, it drives meaningful impact and value, both for customers and society. In this way, demonstrating action matters.
Applying It Into Practice
We can see a severe opportunity for sustainable brands to emerge and establish themselves shortly. As such, the question becomes, what can be done to make a brand sustainable?
The first and most effective way to approach this is through an organization’s internal operations, which can be done by examining their material usage and environmental impact. This includes what materials are being used for products, packaging, etc., and how they manage these resources while using them. Considering the entire life cycle of a product from manufacturing to disposal/recycling is also crucial, as it has been seen that focusing on this process can significantly reduce a company’s environmental footprint.
This has already been confirmed by a number of well-known brands. Companies like Mars, Nestle, and PepsiCo have all made public announcements about their commitment to the development of sustainable practices throughout their business operations. This includes energy conservation, sustainable packaging, deforestation prevention, and much more.
Efforts such as these will prove to be crucial in actively engaging customers, both new ones and existing ones. With the growing demand for transparency and authenticity, sustainable brands will continue to rise above others who fail to prioritize these strategies into their vision.
The Promising Benefits of Brand Sustainability
Based on what we know about this issue’s prevalence and the results that we’ve seen so far from this strategy’s application to the market, integrating sustainability into branding is something that holds a lot of potential for business wellbeing. We’re seeing growth and resilience across the board when it comes to companies that have opted to take a more sustainable approach to conduct their operations.
For one, it’s become quite obvious that the landscape for business opportunities has been tilting in favor of sustainable organizations. With more and more people looking to reduce their environmental impact, it’s now more prolific than ever to be on the side of green business. This is so prevalent, in fact, that a recent report revealed that a massive 81% of individuals prefer to buy from sustainable companies.
This was demonstrated in recent market turbulence when according to Morningstar, 89% of its ESG-screened indexes outperformed their broad market counterparts in the first quarter of 2020. Furthermore, as reported by BlackRock, sustainable investment strategies globally showed resilience during the market volatility of Q1 2020.
In more ways than one, it looks like moving with market trends for sustainability in this way is proving to have real, tangible, and innumerable benefits to companies who do so.
Some of the other benefits of brand sustainability that we’re seeing include:
- Increased market value and share prices
- Decreased risk of negative public attention and brand damage/controversy
- Improved customer relationships
- Increased likelihood of securing positive business partnerships (e.g., suppliers, investors)
Whether through improved market resilience, better public appeal, or more secure operations, businesses of all industries quickly note the positive outcomes that can be garnered by addressing and acting on the environmental, social, and governance concerns of those they serve.
There is a growing consensus that as the world becomes increasingly aware of the benefits of sustainability, it can no longer be ignored. From compliance to competitive advantage, brands recognize the importance of sustainability in today’s society and adapt accordingly. As such, sustainable practices have become a critical component of any effective business strategy and are considered crucial to bolstering brand health in the years to come.
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