the 3 “P’s”- Marketing Cleantech
The question asked by everybody, including greentech types, is what it takes to sell products and services in this poor economy? We suggest for greentech the answer is; most of the same factors that have always made products attractive to consumers and businesses, but now with even more focus. We call these factors the three P’s: price, performance and don’t underestimate panache.
3 P's facilitate green product introduction - click to enlarge
Many of you familiar with marketing know the typical “S” shaped curve describing the penetration of new products in the marketplace. When a product is introduced there is typically a period of time where it experiences modest sales. This is the relatively flat, left “tail” of the “S” as people learn about the product and a few bold, early adopters them try it out. Then, if the product appeals for various reasons based on performance, price or the great intangible, panache (the fun, cool, or buzz factor), sales begin take off among progressive consumers, moving along a steeper portion of the curve.
Finally, if the product is popular and achieves mass market status, it hits the steepest section of the curve. Ultimately, sales flatten as most people who might be in the market for the product or service have now bought it, and replacement sales and conservative purchasers dominate.
While most greentech firms are undoubtedly pushing price and performance factors today we’re suggesting they also study the entertainment and luxury markets carefully and try to add as much panache to their offerings as possible, without compromising the other two “P’s.”
Three of our favorite examples of green marketing panache are ZipCar, GreenBox, and TerraPass. Each of these takes what’s essentially a fairly prosaic but environmentally desirable service and turns it into something more fun. ZipCar recasts short term auto rental and creates a community of “Zipsters” driving cute, energy efficient vehicles around metropolitan areas. GreenBox takes home energy monitoring (yawn!) and turns it into an engaging online activity with a community of fellow energy savers. TerraPass promotes purchasing carbon offsets as not only responsible but an interesting endeavor.
Tell me about your favorite green product or service that delivers the “3 P’s.” We need to make our offerings as attractive to consumers as possible.