What Does Diversity and Inclusion Mean in Marketing?

Diversity and Inclusion Mean in Marketing

Diversity at every company level is a key factor in its success and productivity. Diverse teams often lead to better stock performance, increased revenue, improved hiring and retention, and stronger customer loyalty. A diverse marketing team helps reach diverse markets.

Diversity and inclusion aren’t just nice-to-haves—they’re essential. Research shows that more diverse organizations often outperform those with less diversity. Building a culture of diversity and inclusion means putting policies in place that support and empower marginalized groups, focusing on real actions rather than just intentions. This approach ensures that everyone, especially those who have been historically overlooked, feels included and valued.

Trust and Representation in Marketing

Marketing is all about building trust. According to a Salsify survey, 46% of customers are willing to pay more for brands they trust. The Edelman Trust Barometer (2023) highlights that Gen Z especially values brand accountability, with 79% prioritizing trust in the brands they choose. Representing diversity in your ads is crucial for building that trust—nearly 60% of customers are more likely to trust a brand with inclusive advertising, according to a Facebook study.

However, simply featuring a variety of faces in your content isn’t enough. Using a performative approach, where diversity is shown off during specific holidays or events, can backfire and create issues with your audience. A diverse team is essential to avoid such pitfalls and ensure authentic representation.

Understanding Diversity, Equity, and Inclusion (DEI)

Diversity in marketing means showing people of different ages, abilities, ethnicities, genders, sexual identities, and other demographics in your content. It involves actively recruiting from marginalized communities to reflect the diversity of society and the audiences you want to reach.

Inclusion involves creating policies and practices that ensure everyone, especially from marginalized groups, is heard and valued. Having a diverse team is not enough; inclusive policies help foster a sense of belonging.

Equity means providing the support needed for everyone to advance, considering their unique needs. This includes training, mentorship, and safe spaces. It’s about understanding past shortcomings and ensuring they don’t happen again.

Benefits of Diversity and Inclusion in Marketing

Increased Engagement and Trust: About 60% of consumers value diversity and inclusion, with higher percentages among parents, African-Americans, and younger generations. Brands that show a commitment to diversity often see better perceptions of their products and services. Lack of representation can lead to lost sales.

Better Revenue: Ads featuring diverse models perform better, and companies with diverse teams often see higher innovation revenues. Gender-diverse boards tend to outperform financially, and high-growth brands are more likely to have diversity-related goals.

Attracting New Customers: A diverse or inclusive ad can make 64% of consumers more likely to consider or purchase a product. This is even more pronounced among specific groups like Hispanics, Black, and LGBTQ+ consumers.

Employee Acquisition and Retention: Diversity is important to 57% of employees and 67% of job seekers. Employees who see their company as committed to diversity are more likely to rate it highly and stay longer.

Steps to Embrace Diversity and Inclusion

Analyze and Seek Help: Hire consultants or team members from marginalized groups to identify challenges and opportunities you might not see.

Listen Actively: Pay attention to who isn’t speaking up and encourage their input. Ensure everyone feels heard and respected.

Educate Continuously: Ongoing training is essential for reinforcing diversity and inclusion principles.

Develop Clear Policies: Establish and communicate policies that support diversity and inclusion to build trust with employees.

Measure and Improve: Track key metrics such as compensation parity, workforce demographics, and retention rates. Use this data to make improvements.

Supporting diversity and inclusion benefits both your business and society. As marketers, you have the power to drive positive change within your organization, making a difference both commercially and ethically.