In today's business world, inclusive marketing is not just a progressive idea but a vital strategy for success. As our society becomes increasingly diverse, businesses that adopt inclusive marketing are setting themselves apart. This approach goes beyond mere representation; it's about creating marketing campaigns that resonate with various segments of society. This ultimately impacts your company’s bottom line, because it means that your message will be more effective and your products will reach a wider audience.
The ROI on Inclusive Marketing
Inclusive marketing is about recognizing and valuing diversity in all its forms. This means acknowledging and reflecting the myriad identities that make up our society — from race and gender to age, sexuality, and ability — in marketing strategies. Such an approach ensures that a brand's messaging speaks to a broad audience, capturing the true essence of the communities it serves.
When a company embraces inclusive marketing, it opens the door to enhanced ROI. By targeting a broader audience, inclusive campaigns are more likely to increase sales and maximize the marketing budget's impact.
But we’re not only talking about reaching more diverse customer bases. A study by Microsoft found that inclusive ads led to a significant increase in purchase intent regardless of whether the person seeing the ad was personally represented.
More and more research shows that today’s consumers expect diversity. In a survey by Adobe, 61% of respondents said that diversity in ads was important to them. According to Think with Google, 64% of consumers said they took some sort of action after seeing an ad that they considered to be diverse or inclusive. The numbers are clear: inclusive marketing gets better results.
A Modern Approach to Marketing
Today’s business landscape demands a new approach to marketing. Consumers are increasingly looking for companies that value diversity and positive social impact. Furthermore, the demographics of the market are changing, with the buying power of minority groups in the U.S. expected to reach $7 trillion by 2025.
Embracing diversity leads to fresh and innovative marketing strategies. Inclusive marketing challenges traditional norms and pushes brands to think outside the box, resulting in unique and memorable campaigns that stand out in a crowded marketplace. By incorporating diverse perspectives, brands can develop unique and memorable campaigns that distinguish them in a crowded market.
Additionally, inclusive marketing can be instrumental in building a brand's reputation. Adobe’s survey found that 62% of US adults considered diversity in advertising an important factor in their perception of that brand’s products and services. Brands that prioritize diversity in their marketing strategies are often viewed as socially responsible and forward-thinking. This enhanced perception attracts new customers and top talent to the business.
An inclusive marketing approach can even help businesses create a positive social impact on their community. Inclusive marketing requires a respectful and authentic portrayal of diverse individuals through thoughtful campaigns that avoid capitalizing on stereotypes. With this approach, businesses can not only build their brand image and expand their customer base, they can also promote a more just and inclusive society.
4 Ways to Improve Your Inclusive Marketing
In an article for Business Insider, several experts shared their insights into how businesses can build more effective inclusive marketing strategies.
- Be inclusive year-round. While special events like Black History Month or International Women’s Day are convenient moments to highlight diversity, experts like Curtis Sparrer of Bospar Public Relations and Marketing advise that small businesses “should focus on diversity and inclusion all the time and reflect these values in their business practices.”
- Be genuine and authentic. According to Beth Booker, CEO and founder of Gracie PR, brands “need to practice what they preach” in order to avoid being seen as “using a demographic as a marketing tool.”
- Champion local causes. Abegail Cal, owner of AJC PR, recommends supporting “a nonprofit or charity that's near and dear to the company's heart” and impacts the local community.
- Do your research. It’s essential to know your audience and use data to plan effective marketing campaigns. Booker recommends using previous campaigns or even other companies’ ads to gather information. "Take stock of what they did that worked, what didn't, and how you can improve on what they did for your campaign."
As society evolves, so too must marketing strategies. Inclusive marketing keeps brands relevant and relatable in an ever-changing world. It enables companies to unlock new market segments, foster customer loyalty, drive innovation, and enhance their overall brand image. In a world where consumer expectations and global diversity are constantly evolving, inclusive marketing is not just a good practice — it's essential for any forward-thinking business.