We had this idea that consumers who consciously choose to do more with their dollars by buying an environmentally sustainable or socially responsible product are great prospects to buy more kinds of products made with similar values. Then our experience with digital advertising technology gave us a simple, cost-effective way to introduce these consumers to more products they’d love – by enabling companies with similar values to gain access to each other’s audiences.
To test our idea, we conducted an experiment. As it turns out, our hypothesis was correct! Here are a few things we have learned:
- Organic tea shoppers will buy renewable energy, natural cosmetics, and sustainably produced clothing. And vice versa.
- Within a pool of like-minded consumers – the combined website audiences of our network partners – predictive analytics is a very powerful tool for identifying those most likely to buy renewable energy, natural cosmetics, etc., more precisely. This substantially improves our network partners’ ROI.
- IN CONTRAST, the same predictive analytics applied to a general population (i.e., not to consumers who have already shown an interest in sustainable products) did not identify good prospects precisely or economically. It’s essential to start with the qualified consumers we assemble through our network.
We were excited to see that our intuition about collaborative marketing was the key ingredient to making our experiment work. This idea allowed our partners to acquire new customers at a very attractive cost per acquisition.
The really exciting news is that each sustainable company already owns the solution to its own growth needs, if it can partner with like-minded companies to share access to their audiences. Our network is the mechanism that allows each one to expand its reach many times over.#Sustainable companies own the means of generating their own sales #growth through #collaboration. @SustBizPartners network makes it work, expanding each company's reach many times over. Click To Tweet
We convert our partners’ shared audiences into a virtual marketplace many times larger than any individual company’s audience. And we do it predictably, measurably, and profitably, delivering a positive return on marketing dollars spent with us. When we pool the audiences of hundreds of like-minded companies, each one can reach a highly qualified audience that is many times larger than the audience it already reaches.
Each company that joins our network increases our other partners’ reach and impact – a true win/win. Join us! We’ve built the network. Together with our partners, we are building a growth engine for each one of them and for the larger sustainable economy.
So, what’s been growing in our petri dish? Sales. Reach out to me at Chet@SustainableBusinessPartners.com to learn more.Shared audiences become a virtual marketplace of sustainably minded consumers many times larger than any individual company’s audience. @SustBizPartners does it predictably, measurably, and profitably. Click To Tweet