You have choices when it comes to your business energy supply. And choosing the right plan can have a big impact on your bottom line. It's important to consider more than just the lowest rate on the market, because shopping for a new energy rate is the perfect time to take your business to the next level. By investing in a green energy plan you can leverage your commitment to the environment and maximize your return on investment.
Gain a competitive advantage
In an age where consumers are so hyper focused on green or organic products, it's surprising that not every company has jumped on the chance to buy green energy. Purchasing a renewable energy plan today can help you differentiate your brand, get ahead of the curve and beat your competition to the green scene.
While the case for switching to green energy may be strong, perhaps it’s the risk of not switching that really puts things in perspective. According to Edelman's 2012 goodpurpose® study, 73% of consumers would switch brands if a different brand of similar quality supported a good cause. That means if you're not supporting a good cause, such as the environment, you run the risk of losing customers to competition.
Build brand loyalty and maximize promotional opportunities
More and more consumers are choosing to stay loyal to companies that demonstrate a commitment to the environment, and purchasing a green energy plan could help your business build a loyal customer base.
With so many consumers interested in purchasing products from green companies, promoting your green commitment could produce a significant return on investment. According to Edelman's survey, 76 percent of respondents said they would purchase from a company that actively supports a good cause. And the word of mouth from these consumers can help build up your brand as well. In the same study 72 percent of respondents would recommend a product that supports a good cause, while 71 percent would even help a brand promote their products and services.
In order to generate that word of mouth advertising and let your customers know about your commitment to protecting the environment you can promote your green purchase on Facebook, your website or even print it on your sales receipts. And if you purchase from one of the providers featured on SaveOnEnergy.com®, you can also get promotional materials to help jump start your efforts to spread awareness of your green commitment to your customers. For example, some energy companies might provide you with posters, stickers or decals that commend you for your commitment. By posting these materials in a highly visible place or passing them out to your customers you can start spreading the word on your company's environmental endeavors.
Make more money
Research shows people are willing to pay more for your products if you support the environment. In fact, a Nielson study reports that 50 percent of global consumers are willing to pay more for goods and services from companies that have implemented programs to give back. By purchasing a green energy plan for your business and properly promoting it, you might be able to improve your bottom line.
Attract top talent
Your customers aren't the only ones to think about when you consider buying a green energy plan. Employees can be just as concerned for the environment, so making a green commitment could help you retain or even attract top talent for your business. A survey for the Society for Human Resource Management found that 49 percent of businesses engaging in sustainable workplace or business practices report that their involvement is important in creating a positive employer brand that attracts top talent.