When consumers have a good experience, they tell three people. When they have a bad one, they tell ten. Doing a deep dive into conversations taking place on the ground is essential to identifying and combating false narratives that can derail a multicultural marketing campaign. This is especially important when that campaign is in the interest of public health.
Market researchers and strategists have a symbiotic relationship. Strategists offer a hypothesis or point of view, creating meaningful relationships between data and facts. It’s a matter of connecting the dots, not collecting the dots. While data gives voice to the consumer, strategists factor in cultural context to present a holistic picture of the narrative the data is trying to tell.
Organizations often launch diversity and inclusion initiatives as strategic imperatives to create more equitable and inclusive work environments. While it’s the right thing to do, it’s often assumed that there’s immediate buy-in across the board. That’s not always the case, however. Within the company, there are ways to be an intrapreneur and make an impact.
Modern-day corporate America has a uniform – typically white, male, and of certain affluence and political view. However, diverse talent across the board is calling for a new lens that promotes diversity, equity, and inclusion initiatives both within and outside of organizations. Marketers and researchers of color, for example, seek equity in pay and more seats at the table, as well as equal opportunity.
How consumers choose to identify is changing, breaking away from conventions historically used to categorize and hypothesize about who people are and how they live their lives. Yet, traditional constructs aren’t keeping pace with the evolution of identity and leaves no room for the grey areas an increasing number of consumers choose to live in.
At this point, the business case for diversity, equity, and inclusion is a no-brainer. Not only is it a moral obligation, but research suggests maintaining a diverse and inclusive workforce improves business outcomes and financial performance. So, essentially, implementing DEI initiatives within your organization is common sense and just makes cents, right? Yet, many firms fail to look at how DEI supports the overall business strategy.
The symbiotic relationship between data and storytelling has emerged as a powerful tool for diversity and inclusion initiatives within companies. Post-2020, organizations are now prioritizing D&I under mounting pressure from employees and other stakeholders demanding representation within the workplace, product and service offerings, and marketing and advertising. Storytelling is the catalyst for change. It creates intentional moments of intimacy that enable people to learn more about one another and appreciate similarities and differences.
Customer expectations are much higher in 2021. Today’s empowered consumers know who they are, expect brands to understand their needs, and use their social currency to influence perception in favor of or against brands. Enlightened brands listen, build intelligence, and use those insights to make products more attractive to buyers. Product Managers play a vital role in bringing new products to market. They work with R&D to develop the product and create strategy and oversee the tactical execution of that strategy.
Miami is quickly becoming the next Silicon Valley. Fueled by the tech explosion permeating South America and corporate America’s waning interest in settling out west, Miami has become a bustling hub for upwardly mobile Hispanics. Tech companies looking to put down roots in the coastal city are either looking to secure tech talent or are scouting locations to set up shop, or both. The result, an empowered Hispanic base with the disposable income to buy what they want and need to support multigenerational households or, in some cases, extended family in their countries of origin.