Originally posted on Harvard Business Review by Mita Mallick, May 20, 2021.
Broaden Your Ecosystem of Agency Partnerships
Before launching marketing initiatives, ask yourself who’s sitting around the table. Are you hearing the insights and voices of the communities you want to serve? Are you collaborating with culturally competent agency partners who also have diversity of representation?
Supplier diversity initiatives are critical. Large organizations can use their dollars to support minority-owned businesses, which have struggled during the pandemic and are essential to the ecosystem. When you diversify your supplier base, you’ll in turn diversify the communities you serve with your brand, unlocking new opportunities for growth.
The Association of National Advertisers’ (ANA) recent report indicated that while 75% of their members had an organization-wide supplier diversity initiative, only 40% had one specifically for marketing and advertising services. To broaden your ecosystem, seek out agencies with diversity and inclusion at the core of their purpose, like We Are Rosie, The Joy Collective, and Diverse & Engaged. Partner with ADCOLOR, which champions diversity and inclusion in creative industries, and invite organizations like the National Urban League and Color of Change to have a seat at your table and have co-ownership in what you’re creating.