Green Business Bureau Blog
Companies Increasingly Turn to Environmental Actions to Cut Costs
While this recession has broken the mold in many ways, one surprising outcome is that corporate environmental activity has survived, even thrived during as companies increasingly turn to environmental actions to cut costs, comply with customer demands, and remain competitive, according to the annual “State of Green Business” report produced by GreenBiz.com
You may be inclined to think that the difficult economy of the past two years may have caused companies to put their green initiatives on hold. But, in a recent survey of CEO’s conducted by PricewaterhouseCoopers, more than 60 percent of CEOs said their companies are moving forward with green initiatives and believe those efforts will improve their company’s reputation. Overall, the recession had little impact on the green momentum: 61 percent of companies with green initiatives saw no effect of the recession on their strategies and 17 percent raised such investment each year.
These companies recognize that consumers’ concern for the environment has morphed into behaviors that are at least somewhat recession-resistant. When public relations firm Edelman surveyed 6,000 global consumers, they found that 87 percent believed it was their “duty” to contribute to a better environment and that even in a recession, 55 percent would pay more for a brand if it supported a cause in which they believed. Plus, as is the case with most corporate priorities, going for green makes sense in financial terms.
When it comes to your invoice, bill or statement, some simple and smart green initiatives can also provide meaningful financial benefits to your company. You can “get green (money) by going green”. Here are some tips:
- Consider changing the layout of your customer document from landscape to portrait. This will reduce the page count and potentially reduce mailing costs.
- Aim to maximize every sheet. Put some thought into your design and layout and consider options such as duplex printing. Again you will reduce production and delivery costs.
- Turn your invoice, bill or statement into a valuable marketing tool. It is the only “must read” document your customer receives from you. You have a captive audience…what are you telling them? Are you taking full opportunity of your upsell and cross sell opportunities? Done right, you can significantly increase your revenues while eliminating the costs associated with direct mail marketing campaigns and other, less effective, sales initiatives. You may even be able to eliminate certain bill inserts, by using effective messaging on the bill, or statement.
- What about converting more customers to electronic documents? This is the ultimate in cutting paper usage, as well as saving on supplies and postage.
These are just a few of the many “go green” opportunities that can translate into cold hard cash for your company. So go ahead…be green!