How can green businesses incorporate these findings to reach new Hispanic markets?
Start by appealing to a Hispanic customers sense of community. Create loyalty referral programs to encourage positive word-of-mouth. Take advantage of generational brand loyalty and extended families by creating loyalty group memberships rather than individual rewards. Emphasize family values and environmental stewardship.
As a Hispanic business leader, you are an instant insider in this growing community. How can you help your company capitalize on Hispanics supportive attitude toward green business?
Here are four ways to green your business and expand your consumer base:
1. Re-think green. After attending the Green Business Bureau program, JJH Autobody
Shop found new ways to support sustainability while reducing overall operating costs. How green is your business? You may be overlooking part of your business model and missing opportunities for green energy savings. Consider enrolling in a Green Business Bureau program to find new ways to improve sustainability.
2. Meet a need. Looking to expand your small business with green services or products?
Identify an unmet need in your community. For example, green cleaning products are increasingly popular both for home and office cleaning. Are green cleaning products readily (and affordably) available in your community?
Direct marketing to laundromats, cleaning services and dry cleaners allows small businesses to buy in bulk, reducing overhead costs and keeping competition low. Becoming certified in a green product or services field can also help boost credibility. Other green small business opportunities include organic yard maintenance, recycling ink and toner cartridges for businesses, home weatherization, and green energy consulting.
3. Emphasize family and community ties.
When marketing a new green product or service, emphasize your businesss place within the local community. Leverage connections with community organization and local leaders to build support for your new product or service. A family-based rewards program encourages extended families to patronize your business.
4. Be price competitive.
While family and community are important, the Hispanic market also wants to purchase affordable products with long-lasting value. Jennifer Tarazon, the Green Builds Business Program director, says, Being price competitive is key to growing sales. Green Builds Business is enabling Hispanic business success with best practices for competing on both price and values.
One way to keep prices competitive is by incorporating green business practices for energy savings. By greening their energy consumption, JJH Autobody enjoyed cost-savings that kept prices competitivehelping the company land new business.
Poised for the Future
Hispanic business leaders are poised to take advantage of new green business opportunities. Marketing sustainable green services and products using family and community ties will help Hispanic small businesses achieve success.