Over 90% of advertisers and marketers say that reducing bias and discrimination in campaigns is now a priority, and are adapting their marketing approach as a result, confirmed a new White paper.
Advertisers also anticipate addressing internal diversity to increase 11% over the next three years, according to the report, carried out by Matterkind, part of the Interpublic Group of Companies (IPG) in partnership with international research consultancy MTM.
Entitled Diversity & Equity in Advertising: A Holistic Approach, the report anticipates a 23% increase in advertisers adopting strategies to address underrepresented groups over the next three years. There is an anticipated 5% increase in advertisers adopting strategies to address underrepresented groups over the next three years compared to the last three.
CUSTOMERS FAVOUR DIVERSE ADVERTISERS
The findings are not surprising given that customers favour diverse advertisers. In fact, according to the report, over 50% of people think it’s important for advertisers to ensure they reach a diverse range of audiences, and this rises to 70% for people who are likely to engage with ads. Additionally, 50% of customers agree that they are more likely to recommend a product or service if their advertisements are diverse and representative. Furthermore, 45% of customers feel that they are more likely to buy a product or service if its advertisements are diverse and representative.
The white paper also revealed that 44% of customers would not engage with a brand they felt was not taking diversity and representation seriously. Interestingly, 36% of customers have boycotted a brand because of issues with diversity and representation. The findings are clear in that the consumer public at large has, in recent years, become more aware of discrimination and inequity for diverse groups resulting in an increased demand for advertisers to act.
REACHING DIVERSE AUDIENCES
In the white paper, Matterkind emphasises the importance of intentionally prioritising DE&I efforts for advertisers, and what can be done to make meaningful improvements within current strategies. It provides a roadmap to establish holistic and actionable approach for brands prioritising DE&I in marketing and communications.
“Yesterday’s customer is not today’s customer, and it is mission critical that brands and advertisers do everything in their power to engage their audiences consciously, with relevance and respect. The best way to do that is by authentically investing and acting on impactful DE&I strategies, and what we’re seeing throughout both the report’s findings and general consumer behaviour is that audiences are demanding representation and inclusion to be key brand priorities for advertisers. Matterkind’s goal is to help brands take actionable and meaningful steps in turning their DE&I goals into reality,” highlighted Erica Schmidt, Global CEO of Matterkind.
The importance of ensuring that advertisements are reaching diverse audiences “has never been more clear, as impactful ad campaigns have the potential to shape and address social issues”, added Dr. Femi Olu-Lafe, SVP, Culture and Inclusion at Acxiom, Kinesso and Matterkind. “As consumers continue to demand that brands take a stand against inequity, brands must adapt a holistic DE&I programme that ensures campaigns prioritise diversity, equity, and inclusion across all stages of campaign development to authentically build their audiences and reach.”
The report, offers practical, actionable advice for brands wanting to put DE&I at the heart of their marketing and communications. Click here to download the report.
Authentic Representation Crucial to Connect with Global Audience, reveals another recent report.
Another report has confirmed that the majority of consumers prefer to buy from brands with diverse and inclusive advertising. Click here to read more.
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