Recent statistics indicate a significant shift in the demographic landscape of the United States, with the growth rate of racial and ethnic minority populations surpassing that of Caucasians. In today’s marketing landscape, understanding the audience is paramount, but it’s equally crucial to recognize that diversity encompasses more than just race. Modern marketers must acknowledge and engage with individuals across various demographics, including age, socio-economic status, and gender, to effectively promote revenue and bolster brand image. Ultimately, remaining competitive necessitates the delivery of diverse content tailored to the multifaceted audiences of contemporary society.
In a recent Deloitte survey of 11,500 global consumers, it was found that the youngest respondents (18-25 years of age) took greater notice of inclusive advertising when making purchase decisions. In this same survey, individuals identifying as Asian or Pacific Islander, Black or African American, Hispanic American, Native American or Alaska Native, or multiracial or biracial were found to be up to two-and-a-half times more inclined to be aware of a brand that prominently champions diversity when making purchasing decisions related to products or experiences.
Merely increasing representation in marketing and advertising isn’t sufficient for brands anymore. Today’s consumers are increasingly interested in whether a brand actively supports diversity, equity, and inclusion (DEI) within both its workforce and society at large. A significant majority of surveyed consumers (57%) express greater loyalty towards brands that demonstrate a sincere commitment to addressing social inequities across all aspects of their operations.
To appeal to the loyalties of potential customers, brands may need to showcase their efforts in advancing equitable outcomes across various spheres of influence. This could involve initiatives such as enhancing hiring and retention practices, engaging with diverse suppliers, or developing accessible products, among others.
Just going through the motions on these initiatives isn’t enough. An astonishing 94% of Gen Z individuals express the expectation for companies to vocalize their stance on crucial social matters, with 90% indicating a heightened willingness to support products they perceive as contributing positively to society. However, garnering loyalty from Gen Z necessitates authenticity; these discerning consumers are likely to discern whether brands are earnestly and comprehensively striving to uphold those values of diversity, equity, and inclusion.
Moreover, over half (57%) of surveyed consumers express a stronger allegiance to brands that showcase a steadfast commitment to tackling social inequalities in all aspects of their operations.
In conclusion, as our world undergoes a significant demographic transformation, modern marketers must adapt to the evolving landscape by embracing diversity beyond racial lines. Understanding and engaging with audiences across various demographics are essential for brands aiming to thrive in today’s competitive market. Our team of YouTube experts at VuePlanner can help take your diverse and inclusive campaigns to the next level by reaching the multicultural audiences that your ad will resonate the most with. Reach out today to learn more.