top of page

How Rewarding Sustainability Can Bolster Your Business


Rewarding eco-friendly behaviour can bolseter your business

As an ever-evolving world continues to confront the repercussions of climate change, sustainability is becoming the norm rather than the exception. Indeed, embracing sustainable practices is not just altruistic. It can have tangible benefits for businesses, making them more attractive to eco-conscious patrons while contributing positively to the world.


The Importance of Sustainability

A business's impact on the planet matters—quite a lot. People have grown increasingly mindful of their environmental footprints, and that sentiment also extends to their consumer habits. No longer is sustainability an added extra; it's a must that directly influences purchasing decisions. In other words, businesses have more than an ethical imperative to go green; it's also an economic one.


How Independent Retailers Can Reward Their Customers for Sustainable Behaviours

Now comes the million-dollar question—how can you, the independent retailer, bank on this growing trend? Here are a few ideas:


Coffee Shops

Encourage customers to bring their coffee cups by offering a small discount for every reuse. Get creative with this idea; maybe run a week-long campaign where every fifth purchase with a reusable cup knocks a dollar (or pound!) off the total.


Retail Shops

Take a two-pronged approach here. Celebrate customers who choose products made from recycled materials or who reuse bags on their shopping trips with a loyalty stamp system. Customers love a good deal, so offering them rewards such as discounts, free items, or early access to new collections can work wonders.


Services

Nudge your customers towards sustainable choices, like changing a dirty filter on an HVAC system, insulating their attics, or installing LED lightbulbs, by offering incentives such as discounts on future service costs.


The takeaway? Your business and the planet mutually benefit when you reward sustainable behaviours.


Sustainable Business Practices: Good for the Planet, Good for Your Business

Shifting the spotlight onto businesses brings our findings into sharp relief. According to new research, just over a fifth of companies believe sustainability is vital to their customers. Unsurprisingly, over a third implement recycling and waste management programmes, while only 17% use sustainable materials or suppliers. Interestingly, two-thirds have introduced more energy-efficient equipment or appliances.


What is the most popular way that small businesses reward eco-friendly behaviour? Discounts. 78% of respondents claimed to offer such incentives, with nearly half affirming that they did so regularly. In addition, over 40% use promotions and social media to promote sustainability.


Advice from Small Business Owners

Here's some advice from small business owners: don't just reward—engage. Make sustainability a two-way conversation with your customers. When they bring in those reusable cups or bags or choose a recycled product, take a moment to thank them—not just for supporting your business, but for caring about the environment. It's a human touch that can build lasting relationships.


To put it simply, sustainability is a winning bet for your business. You play your part in saving the planet, you attract environmentally aware customers, and you foster an image of corporate responsibility. It's a winning trifecta for your business, customers, and the environment.


About meed

meed helps businesses maximise revenue from their customers by connecting with them through their mobile phones without the need to set up, maintain or install an app or its associated infrastructure.

meed is a platform built on a hybrid Web2/Web3 infrastructure that bridges the traditional and decentralised economy. With meed, customers have the one app they need to participate in almost every loyalty program to which they belong.


meed is launching in the Spring of 2024. Join the waitlist!

7 views0 comments
bottom of page