How DEI Accelerators Are Putting Purpose into Products

Companies that lead with purpose and build around it can achieve continued loyalty, consistency, and relevance in consumers' lives. Embodying that purpose within your business and the products and services you distribute brings you closer to consumers by helping you understand their needs as they evolve and change. The most successful business leaders know that to bring customers the best experiences, they must focus on diversity, equity, and inclusion. 

DEI is not a checklist item for businesses to cross off their to-do list. It’s not a campaign or project to be completed and considered done; it’s an ongoing initiative. The well-known advocate and author Vernā Myers described DEI the best when she said, “Diversity is being invited to the party. Inclusion is being asked to dance.” Brands embracing DEI practices are better equipped to create positive multicultural interactions with their customers and internal staff.

Picture this: a clothing store owner wants to expand their apparel line to include more demographics and attract more customers. They could create unisex, men’s, and women’s styles to increase customers’ choices. They could expand the colors, fits, silhouettes, and length options to cater to different body types and skin tones. The goal should be to offer alternatives that appeal to every demographic and body type, so people can look and feel amazing. Offering apparel options that give everyone a fit that’s comfortable, functional, and flattering shows your brand actively promotes diversity—and doesn’t use it as a buzzword.

While that’s only one example, more goes into implementing DEI into your company and conversations with customers than just offering more options or benefits. According to a Boston Consulting Group survey of over 16,000 employees in 14 different countries, 75% of respondents feel that the current diversity programs in place at their company deliver no personal benefits for them.

Change doesn’t happen overnight, and incorporating a more inclusive, holistic approach within your business, brand, and marketing takes time and dedication. Moreover, establishing a widespread company culture that “activates and accelerates” DEI initiatives requires genuine commitment from the top down. It starts with CEOs and boards of directors creating a workforce that is representative of the communities they serve.

What are business leaders committed to? Do they embrace setting tangible goals and tracking progress transparently? Do their values align with mine?

Customers and employees demand authenticity from businesses. They want to know that they’re putting their money and energy behind a company that does good in the world or, at a minimum, does no harm rather than one that only provides products and services.

What Purposeful Products Look Like

In Deloitte’s Success personified in the Fourth Industrial Revolution report, which covers over 2,000 C-suite executives across 19 countries, more than one-third ranked societal impact as the number one way they measure annual performance. The percentage was more than financial performance or customer and employee satisfaction. Purpose-driven companies with legitimate goals to improve the world drive their operations toward outcomes people value.

Sharon Smith-Akinsanya, CEO and founder of the Rae Mackenzie Group, an award-winning DEI marketing and strategy firm, understands creating a space for diverse voices to be heard and implementing change based on those alternative perspectives is one of the only ways to ensure DEI is supported and enforced at all times. One of the most remarkable examples she has seen is the Target Corporation.

“In the wake of George Floyd’s murder, Target promised to invest $2 billion into the Black community, and this led them to connect with Houston White, a barber and coffee shop owner, whose lifelong dream was to become a fashion designer,” said Smith-Akinsanya. “Today, White’s very own line of apparel and accessories—which celebrates self-expression, ingenuity, and Black ownership—can be found exclusively at Target.”

Target is bringing Black-owned businesses, Hispanic-owned businesses, Women-owned businesses, and others from underserved communities into its Accelerators program. Most importantly, though, Target further supports these businesses by placing their products directly into Target stores all over the country.

More companies need and should follow Target’s lead and commit to DEI at every level of the organizational structure, including product design and development. This includes recognizing and addressing common bias traps to help create more inclusive products and procure a more diverse collection of suppliers. However, getting an organization to rewire processes for running their business and move beyond a compliance mindset must start with the vision of the CEO and the Board of Directors. They must first decide what type of organization they want to lead.

As a result, employees and consumers can decide who they want to work for and do business with. The world is changing. Employees and consumers have more leverage than ever before, and it’s up to every company to do their part or risk becoming obsolete.

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