Our custom is the way Marketing is done in the Digital Age. Before we limited ourselves to local magazines and TV commercials, now we spread to the whole world with a few clicks. Advertising is reaching more people, and that’s great for those who specialize in Marketing.
Keep in mind: we are reaching more people with all kinds of tastes, interests, ethnicities, permanence, classes, opinions and life stories. And most importantly, people are now more in demand because they have stopped looking only for products and focused on finding brands that represent their values.
This is not a personal opinion. According to the Global Consumer Pulse Research, a study conducted by Accenture in 2019, Generations Y and Z can be called Generation P(urpose), and they represent almost 5 billion people.
In another Adobe survey, 38% of respondents said they are more likely to buy products from brands that include diversity in their ads, and 34% have boycotted a brand at least once because they didn’t feel their identities were represented in the ads. ads or actions.
We can say that it is undeniable that to connect with the audience, brands and companies need to represent their own views and opinionsboth in advertising and marketing campaigns, as well as in real actions.
Representation is more than a marketing tool
None diversity It is a very present topic in business conferences, movies, news and advertising, should not be treated as a marketing strategy, but as a genuine form of inclusion and respect.
Many brands misheard the message. A sample of the company of beautiful products from Love Beauty and Planet of the Unilever group.
Even carrying a clear sustainability reference in its number, the brand was involved in controversies that its cosmetic ingredients weren’t as “organic, vegan and clean” as promised, and that the brand wasn’t completely cruelty-free either.
What I really want to reflect on is that Love Beauty and Planet consumers don’t just consume their products because they like them, but because of what the brand should stand for.
Companies must pay attention to consumer demands, not only related to the products or services they sell, but also to the values, fears, hopes, flags and beliefs of their customers. This has to be the central and internal concern of the company itself, in all its areas.
Customers prefer committed brands
As we mentioned, consumers today are looking to connect with brands that support diversity and inclusion. It is clear that it is related to advertising, from which consumers are represented, but it goes further.
According to the Global Marketing Trends Executive Survey, it is also important to consumers how well a company applies diversity in its workplace, understanding and opening space for women, blacks, LGBTQIA+ and other minority groups.
This is particularly relevant for the youngest: the survey showed a growing behavior in relation to diversity, especially for Generation Z, the new force of consumption.
These young people, born between the early 1990s and early 2000s, are what we call digital natives, that is, they were born and raised during the digital transformation.
We know that they care about issues related to our planet, hence we find references from young activists like Greta Thunberg, and with sustainability for both conscious production and business growth.
The Executive Survey of Global Marketing Trends found that 57% of consumers are more loyal to brands engaged in social action. It also showed that companies with better growth results strengthened KPIs for DEI business objects, a difference from the competition with a lower level of growth.
The same survey also indicates that 94% of Generation Z expect companies to take a stand on social issues, and 90% said they are more willing to buy products that benefit society.
This data even promotes diversity in all the efforts of companies: in advertising, recruiting, retaining talent, showing alignment with the proposal and investments in social initiatives that reduce inequality.
Correct representativeness leads consumers to pay more
Beware: representativeness is not an exclusive concern of young consumers.
People in the world are reflecting not only on how a product is made, but also if the company that produces it compares the same values. An example of this is a study by McKinsey & Company that found that African-American consumers are paying a 20% increase for products and services that meet their needs.
One company that learned after a lot of controversy was Choice Target. In 2020, due to its accusation of promoting ideas of racial exclusion in its advertisements, the company has come to invest in opportunities for historically marginalized and ignored people by adopting black-owned brands in its portfolio.
My point here is that the company can make an excellent inclusive campaign and, at the same time, eliminate minorities in its hiring processes. Or you may succeed in fostering an extremely diverse and inclusive environment in your workplace, but run an unfortunate and controversial campaign.
Brands need to pay attention to how to really promote diversity, equity and inclusion in all their areas. But this is not easy, and requires constant evolution.
The best way to do this is by knowing your consumers deeply, and having strong values at the core of your brand.
Customers consume from companies in which they can pour represented. And, many times, that means that the company has to publicly express its support and invite its customers to the cause.
It’s not enough for beauty brands to produce makeup for all skin tones. Customers may also want to know if the company has racial and ethnic diversity in its workforce and what freighters it operates.
Fenty Beauty, a brand created by pop star Rihanna, offers 40 shades of makeup. In its first month, Fenty reportedly earned $72 million and sold out in stores, showing that there is a market waiting for companies to meet their demand.
When we looked at the presentation of the products made by Fenty in its collection show, the concern to represent all kinds of people was clearly present.
Diversity at all your touchpoints
To target this new consumer, the path is more conducive to investing our not only in ads that encourage consumer diversity, but also in representing the within the company itself.
A diverse workforce, including professionals of different ages, genders, sexual orientations, races, ethnicities, and who share different life experiences, areas of study, and culture, increases the richness and knowledge base of a team. It also benefits from the work and productivity of the entire company, as well as promoting greater creativity and, consequently, innovation.
According to data from a study conducted by the Boston Consulting Group (BCG), companies that invest in diversity, particularly in leadership roles, also reported 19% more innovation revenue than companies with below-average leadership diversity. , which demonstrates the value of representativeness and diversity of management positions.
This scenario can cost business opportunities and a crucial innovation to create a negotiation, since, according to HBR, a team with less than one member who compares the ethnic origin of a client is 152% more likely to understand the real needs.
Increasing results are a consequence of a greater purpose
Supporting a social proposal is also a strategic agenda for the growth of your negotiation. By proposing to be a company that promotes diversity, equity and inclusion, it is necessary that you extend your actions to society, worry about reducing environmental impacts and activating social causes.
At Rock Content, the concern for our environment is evident: we treat the uniqueness of each person with due fairness and respect, we listen carefully to all voices and act to transform realities beyond our employees and consumers.
For us, social impact means generating employability opportunities for people who, due to their gender, race or socioeconomic status, are in a vulnerable situation. This is achieved through the promotion of education, allowing inclusion in the market and ensuring fairness in the negotiation.
There are various ways to contribute socially to building a brand committed to diversity, equity and inclusion. It is possible to issue less paper, encourage the use of public transport and even implement recycling in the company.
However, it is interesting to associate your product or service, if possible. Product donations, offering social discounts to certain groups or even sharing the knowledge of your workforce can bring results not only in the development of a more sustainable society, but also in the company’s income.
When a company’s commitment is clear and shows its contribution to society, it is possible to generate value, whether for shareholders, employees or customers, and then create authentic and trustworthy relationships with all these audiences, and also attract new consumers.
Having a purpose is a path to competitive advantage and sustainability within the company itself, which is essential for long-term financial success.
Knowing all this information and having clear criteria for your target audience, you need to analyze how committed your company is to this new consumption scenario and start investing more and more in building a diverse and inclusive approach.
It’s good for society. They are good for your business.
This article will also be read in the new issue of Rock Content Magazine, published this August. In this issue we bring incredible content on diversity, inclusion and accessibility, a very important topic for brands and today’s society. You can download the magazine here, it’s completely free! Enjoy it!
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