Looking to grow revenues? BBMG’s new study entitled Unleashed: How New Consumers Will Revolutionize Brands and Scale Sustainability documents the mega-trend business opportunity that Earth 2017 projects will be a global $10 trillion annual revenue economy for smart, healthy and green products by 2017.
How big is this opportunity? BBMG estimates there are 70 million consumers that have made VALUE their product purchase driver.
These 70 million consumers evaluate companies and products based upon their TRIPLE VALUE PROPOSITION. Their definition of value includes:
- Practical Benefits like cost savings, durability and style
- Social and Environmental Benefits like fair trade, waste management and preservation of rainforests
- Tribal Benefits where their purchases align with their community of people who share their values.
A second dominate characteristic of these New Consumers is that they are connected. Buying from a company or buying a product involves their use of connectivity to search how a company or product aligns with their values. And increasingly this connectivity is through social media platforms like Facebook and through smartphone apps like GoodGuides. Making this connection is a HUGE opportunity for green businesses and products to cement customer loyalty.
Part Two of this article series will outline additional findings from this BBMG study and most importantly, list best practices for growing revenues.
Bill Roth is the founder of Earth 2017 that focuses upon the emerging smart, healthy and green economy. His book, The Secret Green Sauce, profiles best practices of businesses making money going green.