Solar energy is now mainstream. Adding solar to a company’s energy portfolio makes economic sense because it is lucrative, reliable and, cost-competitive with traditional forms of energy. Federal tax credits, the MACRS bonus depreciation, and various state-level incentives are keeping C-suite executives excited about the financial benefits and long-term returns they can gain by going solar.
While CEOs and CFOs usually make the final decision to go solar based on the financial returns shown in the proposal, Chief Marketing Officers become the communication champions once a company decides to begin a solar installation. The marketing value, which is outlined below, demonstrates why all CMOs should become “solar champions”.
A 2012 National Geographic study found that 61% of global consumers are very concerned about the environment, a percentage that only continues to increase. Furthermore, a survey completed by Aflac Corporate shows that 92% of Millennials are more likely to purchase from environmentally-friendly companies.
These studies represent an overall trend that U.S. consumers are including environmentalism in their purchasing decisions. In addition, the 2015 Cone Communications Millennial CSR Study reveals that more than 90% of Millennials switch brands to one associated with a cause, including sustainability.
Going solar will help your company win over new customers and retain valued customers since their purchasing decisions are shown to be influenced heavily by corporate commitments to green initiatives.
No matter the industry, brand image is defined by how consumers perceive your company compared to market competitors. Environmental sustainability has become a market differentiator.
If you are already competitive in terms of quality, performance, and price, adding sustainability and green initiatives to your communication strategy can enhance your brand image and improve your market share among the growing number of environmentally concerned consumers.
There is no doubt that going solar has financial benefits. It also creates marketing and public relations content focused on sustainability initiatives that will build brand awareness. Leveraging public relations and marketing events, like a “groundbreaking” and a project “ribbon cutting”, can help communicate a strong sustainability message.
Ribbon Cutting Event: PowerFlex and Clare Rose
PowerFlex prides itself on providing our clients with a turnkey solar solution. Our consultative approach not only includes an agnostic and thorough approach to solar economics but also includes thoughtful marketing insights and holistic marketing solutions.
Smart CMOs, the time to act is NOW!