Becoming a B Corp reaps a host of benefits, one of these is boosted customer sales and brand loyalty. We call it the double whammy ROI of B Corp.
Around the world, we’re seeing a tidal wave of consumers demanding to know more about the provenance of what they’re buying. From clothes to cars and food, consumers are voting with their wallets and increasingly choosing ethical goods and services, which is driving massive shifts in the business sector.
A few statistics to highlight this shift…
- US sales of products marketed as sustainable grew 5.6 times faster than other products from 2013 to 2018 – NYU Stern Center
- In 2015, a survey of 30,000 consumers in 60 countries found that 66% of consumers are willing to pay more for products or services from companies committed to positive social and environmental impact – Nielsen, 2015
- In the UK alone, the market for ethical products grew to more than £81.3 billion in 2017, with demand for sustainable fish growing by nearly 37% in 2016 (Ethical Consumer, 2017)
- 73% of UK consumers want to be more sustainable in 2021 – YouGov
- Two thirds of consumers support carbon labelling on products across France, Germany, Italy, the Netherlands, Spain, Sweden, UK and US – YouGov
- Millennials (80%) are almost twice as likely than Baby Boomers (48%) to pay more for sustainable products – Nielsen… and Gen Z are likely higher.
Given this soaring demand for sustainable products and services, companies are trying to figure out how to both be more sustainable and market themselves as such without risking accusations of greenwashing.
That’s where B Corp Certification comes in. As an independently verified certification, it’s the gold standard and gives credibility to ethical claims.
As well, it offers customers who are worried about issues like plastic pollution, climate breakdown, and social justice, an easy way to spot a truly sustainable business from a greenwashing fake one that’s just saying the right things but not doing anything.
When customers see the logo on a product or service, they tend to automatically trust that brand more than a non-B Corp competitor and thus be more inclined to buy.
In summary, having the B Corp logo on your packaging, marketing materials and pitch documents, is a clear sign to prospective clients/customers that your firm is committed to ethical practices. It gives your business an edge over non-certified competitors when pitching for business and is proven to have a direct positive impact on sales and profits.
Is your organisation ready to B Corp?
Certified B Corps are a new form of business that seeks to value people and planet while making as much profit as possible.
If you think B Corp might be for you, check out our free e-book “2B Or Not 2B: The What, Why & How Of B Corp Certification” here.