IN BRIEF: THE NEW MARKETING MISSION
Sustainability and strategy have converged and become an integral part of how companies position themselves. Driven by demands from government, customers, investors and regulators, sustainability is now a business imperative.
B2B MARKETING USED TO BE FAIRLY SIMPLE. BUT THEN IT GOT COMPLICATED
The rise of sustainability and brand purpose means that the customer is no longer the marketers’ sole focus. They now have to consider stakeholders that include suppliers, investors, NGOs and employees.
Once, marketers simply had to emphasise the virtues of a product or service. Now, their role is a much more nuanced one that has to consider the impact on the planet and people — as well as profit.
of marketers claim to be “well advanced” in their journey towards sustainability, compared with 29% who say the same about their company as a whole 1
IT IS NOT ALWAYS CLEAR WHERE THE MARKETER’S ROLE BEGINS AND ENDS WHEN IT COMES TO SUSTAINABILITY
Sustainability is no longer owned outright by marketing — instead, it is spread across multiple different departments. And new roles such as the chief sustainability officer, who often reports directly to the CEO, make things even more complicated.
AND THE MEASURES OF MARKETING SUCCESS ARE CHANGING
The goal is no longer just to sell more, and selling more might even conflict with sustainability goals around the circular economy. Reputation and brand have become more complex, and the risks of getting sustainability messaging wrong have grown. Regulators are looking closely at greenwashing and companies could face severe financial and reputational penalties if they are found to mislead or misrepresent.
of companies have sustainability as a KPI on their marketing dashboard 2
FORWARD-THINKING MARKETERS HAVE ALREADY TAKEN NOTICE AND WELCOME THE EXPANSION OF THEIR ROLE
For today’s marketers, this is an opportunity. They can play a central role not only in communicating brand purpose creatively, but also in influencing behaviour. The impact of marketing can now go far beyond brand-building and performance marketing.
We spoke to B2B and B2C marketers and marketing experts to find out more about these changes. How can the marketer make sustainability and purpose a core part of their role?
Start your new marketing mission now.
IN OCTOBER, WE CONVENED A PANEL OF EXPERTS TO DISCUSS THE FINDINGS. HERE'S WHAT THEY SAID:
Footnotes: 1. ‘Marketing and Sustainability: Closing the Gaps’, World Federation of Advertisers (WFA) 2021 2. ‘Marketing and Sustainability: Closing the Gaps’, World Federation of Advertisers (WFA) 2021 3. ‘Marketing and Sustainability: Closing the Gaps’, World Federation of Advertisers (WFA) 2021