The soaring temperatures during the summer of 2022 left no doubt about the urgency of tackling climate change. Sustainable pricing models, enabled by data and technology, are part of the solution, and can be adopted by businesses of any size.
Sustainable pricing steers customers towards buying environmentally conscious products and services directly as well as spending money with organisations that will help to achieve sustainability.
We wrote a Best Practice paper for the Sustainability Hub at WARC discussing the topic in detail:
Tackling the climate crisis can feel overwhelming; sustainable pricing is a way for all business owners to play a part.
The wealth of data made available by digitalisation enables the development and adoption of smarter techniques for pricing; it’s no longer a case of ‘one size fits all’.
The cost-of-living crisis makes pricing a sensitive issue, but taking a sustainable approach offers new models that address some fundamental issues.
The paper also lays out a framework for achieving sustainable pricing strategies; this is based on three core concepts: streamlined, engaged, and evolving – bound together by a customer-centric approach.
Now is the time for change, the moment to introduce pricing models that have a role to play in better, more sustainable consumption. There is no doubt that disruption is uncomfortable – but the alternative of doing nothing will have long-term effects and far-reaching consequences for the future.