GreenMark Public Relations®, Inc.

When does “Green” transcend the trend? Some would say the time is now. According to London-based market research firm Mintel International Group Ltd., the number of U.S. consumers who regularly buy green products tripled in 2008, to 36%. Convert that to numbers and you’ve got well over 100 million people who make the conscious choice for green. What about the rest? What about not just light-bulbs and organic food, but banks and hotels? Steve Hendershot, of Crain’s Chicago Business (”Is green enough to lure clients?” July 18, 2009) says, “Success hinges on old standards like price, service and performance.”

“My customers want me to help them save money by running more efficiently,” says Jason Howard, CEO of Greenspace Supply, which sells office supplies and janitorial products. “Environmental benefits are important, but they rank second or third. Customers move forward once we can show them the cost savings as well as the green benefits.”

A 2008 Boston Consulting Group survey revealed that 82% of U.S. consumers are willing to pay a premium for green products, as long as those products provide added benefits. That means if something says “organic” on the label, it had better live up to its expectations - and taste better, too. Likewise, if travelers shell out an extra few dollars on a green place to stay, the hotel can’t get by on novelty alone, customers aren’t going to feel satisfied with only a green mint on the pillow.

GreenChoice Bank in Chicago has yet to open, but already has 2,000 people on its waiting list. CEO Harold Sherman noticed a different attitude amongst the depositors, but said people feel good about their bank. This attitude doesn’t come lightly. GreenChoice has made clear it’s intent to be a significant improvement over any existing bank. GreenChoice will use less paper, it’ll be built to high LEED standards and will offer better interest rates to customers who decline paper statements. It’s location is good too, built on the first floor of The Green Exchange, Chicago’s first green marketplace (2545 W. Diversey Ave.). Is this enough?

Northwestern University marketing professor Tim Calkins said, “There are a lot of things that drive consumer decision-making around a bank, and environmental issues I think would rank fairly low… You’ve got to use that environmental benefit to show people you’re committed to helping their communities, that they can trust you, that you’re not going to lend their money to fancy investment bankers on Wall Street who will never pay it back.”

Calkins is right, people are still skeptical about green and especially skeptical about banks. Sustainability is something to be taken seriously and people want companies going green to treat that issue with respect. Hendershot poses a good question, “Is green enough to lure clients?” Take one step inside GreenChoice Bank when it opens. Take a stroll through the Green Exchange. You decide.

Read Steve Hendershot’s article, “Is green enough to lure clients?” on ChicagoBusiness.com (July 18, 2009).

Cash shortage in any industry is dire news, and is all too frequent in this economy. But local green-tech businesses don’t seem too concerned largely due to Obama’s promise to invest $150 billion in clean tech, and the stimulus package includes tax breaks for consumers who make renewable-energy and conservation investments in their homes. Also, businesses who’ve already developed sustainable technology have a competitive advantage. One example of this is Bob Miller’s company, Earthwise Environmental, Inc., whch began in 1995. Earthwise clients initially saved money by using fewer chemicals and less water. Now, with with a stronger focus on conservation and reducing toxic chemical waste, clients see their value in both economic savings and environmental impact. Miller expects his business to grow 50% in 2009.

Earthwise Environmental’s edge is that the company continually discovers new ways of developing sustainable solutions. To one client, Miller proposed a $225,000 project that would save more than $200,000 a year while reducing water use by 18 million gallons. This system also virtually eliminates toxic chemicals from the treatment process. “If you can give people a two- or three-year payback, they are willing to consider these projects,” Miller says. “But we’re seeing a much longer sales cycle for these green solutions.”

In previous rough economic times, ingenuity saved the day. Now, ingenuity and a green mind can both save the day and sustain the future.

Read more about clean-tech and other green businesses surviving the down economy. It’s the focus of Crain’s Chicago Business and ChicagoBusiness.com for the week of July 20, 2009 on their Web site, here.