Sustainability: business, life, environment

In a recent post, we discussed the importance of engaging key stakeholders in business processes.  Evidence is proving consumers to be an important stakeholder in a company’s ability to capitalize on its eco awareness, product stewardship, reputation, and overall business sustainability.

A new approach for measuring consumer perceptions comes from the Eco-Insights Survey by Earthsense. The Earthsense Business Indicator, derived from the survey, provides four different metrics that assess companies from the consumer point of view (POV):

• Sustainability: How much do you think sustainability is an important part of how they do business?
• Product Impact: What direct impact on the environment do you think the main products they make and distribute have?
• Investment Attractiveness: If it was possible and you had the funds, how likely would you be to invest in this company?
• Advocacy: How likely is it that you would recommend this company to a friend or colleague?

Among the standouts, the survey cited Whole Foods  and Trader Joe’s.  Despite their own financial challenges resulting from the current economic climate, both have clearly drawn the approval of consumers.  The report goes on to examine the wide variation in consumer perceptions within individual industries as a whole. This wide variation further indicates that an individual company’s actions and customer engagement on specific sustainability concepts may be driving consumer preferences.

Working as a sustainability consultant,we advise clients on the importance of the customer as a key stakeholder.  Beyond simply capturing consumer preference, actively engaging consumers on sustainability concepts that directly impact business direction, planning, and product development is considered a best practice.

How well do you know your customers?