Several movers have complained to us recently that Millennials (the generation currently aged 18-38) are only interested in low prices, so it’s a real struggle for the bigger companies to win their work.
Whilst it’s true that Millennials are very cost conscious (and who can blame them given that they grew up in a recession and are now struggling to get on the property ladder!), most of them are willing to pay more for goods or services that are sustainable, or environmentally friendly.
When you really think about it, it’s not surprising that our young people care so passionately about the planet. They are travelling more widely and more frequently than any before them, so they are witnessing at first-hand how our consumer behaviour is affecting the world.
As consumers, they are leading the way on recycling, upcycling and the boom in eco-energy companies. Many of them are swapping to vegan or vegetarian diets, since plant-based food uses up less natural resources than meat and dairy.
They also tend to be passionate about reducing plastics, be that through buying reusable shopping bags, campaigning against over-packaging, or supporting charity projects that are helping to clean our oceans.
According to market research company Nielsen, around 75% of millennials are willing to pay more for sustainable offerings, and that percentage has been gradually rising for the last few years. And in case you think Millennials aren’t your target market, over half of the Baby Boomer generation (currently in their 50s and 60s) are also willing to pay more for companies who are protecting our planet.
So what can you do to appeal to this important consumer base?
• Promote what you’re already doing for the environment – from buying recycled loo roll for the office to installing energy efficient bulbs, we bet it wouldn’t be hard to find some good deeds to talk about.
• Do more! Why not sit down with your staff and brainstorm how your company can be more eco-friendly. Ideas may range from the huge (solar panels and electric vehicles) to the tiny (using thermos flasks to avoid boiling the kettle so much, recycling all your paper and cardboard waste, and encouraging employees to walk or cycle to work), but there are bound to be some suggestions you can act on right away.
• Keep at it – some initiatives will actually save you money, so reinvest the savings into your business to allow you to tackle more ambitious green projects.
• Get certified – once you are up and running with an eco-friendly programme, why not look into getting an ISO 14000 certifications? This will communicate to the public and other businesses that you are serious about going green.
Whatever you are working on or already doing, don’t forget to tell your prospective customers on your website and, of course, on your social media accounts, and make a big deal of it next time you do a quote for someone in their twenties or thirties – it might just start winning you those jobs.