Last week, I wrote about the waste bin that allows you to recycle waste in the kitchen here. This turned into a long conversation with a colleague about how he thought this was not a very innovative tool and there was no need for the company to have such a product in production. Can I mention that at the time of writing this post, there are over 700 backers who have contributed to raise over half a million USD for this project. You can find all the facts at indiegogo.com
Back to my point, you see, while technology might be a valid reason for product development, it is getting obvious that the sustainability of the product is becoming equally as important. According to PWC, As sustainability moves up the boardroom agenda, it is increasingly being integrated into corporate level strategic planning. Management now need to balance increased regulation protecting the brand and ensuring stable supply chains with seeking opportunity for enhanced performance and using the sustainability agenda for strategic advantage.
As companies are looking for ways to sell more technologically advanced products, it would be wise to begin to push product sales too more on the sustainable angle. As far as your products are genuinely perfoming better, there is absolutely nothing wrong in using this angle to drive sales.
Infact, all I see is the benefit. A situation where companies become highly competitive in terms of producing better products for the environment rather than developing the next ´not so useful´ technology. Are you in the process of developing a product or improving your product? Finding more sustainable ways to use your product might be a very lucrative marketing angle to explore.
Sustainability needs to move from the corporate social responsibility desk to the product and market development desk. Non compliance should move from shaming the company to actual negative impacts on sales and brand reputation.
These are interesting times!