The Value & Importance of Diversity, Equality, and Inclusion in B2B
It’s true that the last few years have provided significant challenges to businesses all over the world. What with the global COVID-19 pandemic, climate change, the Russian invasion of Ukraine, the UK’s exit from the European Union, and many other geopolitical events, it’s hardly surprising that other concerns can slip down the list of priorities for B2B businesses.
However, that doesn’t mean it isn’t concerning that, according to the 2022 Buyer’s Journey Survey from Forrester, diversity, equity, and inclusion only ranked at number 14 in terms of business priorities.
Before you start rolling your eyes and imagining some placating token box checking exercise, read on as we explore how making these factors a priority for your B2B business is not only the right thing to do from an ethical perspective, but can also have a significant impact on your organization’s effectiveness and profitability.
AI
With the launch of ChatGPT, AI is back in the conversation once again, with many claiming the platform heralds a new standard for the ability of computers to mimic human conversation and decision making. While the accuracy and efficacy of ChatGPT’s output has almost certainly been overstated, automation is playing an increasingly influential role in business operations, and it is here where unintentional bias can slip in.
Biased AI can fail to take a person’s gender identity, ethnicity, culture, sexual orientation, etc. into account and wind up providing inappropriate and embarrassing product recommendations and deliver a customer experience which is degrading and inconsiderate. Even basing service features on something as apparently innocuous as a zip code can inadvertently introduce unintended bias into AI algorithms and produce discriminatory output.
This is reflected in further research from Forrester which found that 20% of businesses have reported concerns regarding unintended, potentially negative, and unethical outcomes when using AI technologies.
However, having a more diverse, equal, and inclusive team behind your business will help you identify and address these biases when implementing AI automation technology. People from diverse backgrounds will be more sensitive to these biases and be able to spot them where people who are unaffected by them may not.
Marketing
When we look at the B2C world, it is often extremely easy to spot when a brand has a genuine interest in promoting issues around diversity and when it is simply hopping onto a newsworthy issue to increase its own visibility.
A fantastic example of the former would be the 2017 Kendell Jenner Pepsi commercial which caused no end of controversy a few years back. Clearly hopping on the publicity of the Black Lives Matter movement and drawing reasonable ire for making light of social justice protests, and suggesting protesters and police just need to get along, the commercial was quickly pulled from circulation and the soft drink company forced to issue an apology.
Pepsi would then go on to publish an extremely racist commercial for its Mountain Dew brand in 2013 and again ultimately be forced to pull the ad and issue another apology.
"I think authenticity is a key trait,” said Senior Global Marketing Manager at Ingram Micro Cloud, Abhi Morjaria. "I don’t think all B2C have nailed it, quite far from. Brands who jump on socio-political issues for the sake of getting in front of people are quickly noticed vs. those who do a consistent job of creating a brand that has a true purpose for driving change and stand up for issues that deeply impact their consumers.”
What’s clear from these controversies is that Pepsi Co could really do with making sure there is a more diverse range of voices on its marketing teams. Perhaps if it had made more efforts in this area, the tone deafness of these commercials would have been identified before they were made public and a change of direction could have been made – saving a great deal of backpedaling, apologizing, bad PR, and wasted money.
Don’t make the same mistakes as the B2C world in your B2B marketing teams. Prioritize diversity, equity, and inclusion in these areas and your organization stands a far better chance of reaching people of all backgrounds in a manner which is authentic and free from careless prejudice.
Final Thoughts
There are just two ways prioritizing diversity, equity, and inclusion within your organization can make your B2B business operate more effectively and profitably. Avoiding the unintentional bias which can be introduced by automation technology and ensuring a range of voices in your marketing teams will significantly reduce the chance of PR blunders which can harm reputation and revenue.
Diversity, equity, and inclusion are sure to be hot topics at B2B Online Chicago 2023, being held in May at the Marriott Chicago Downtown, IL.
Download the agenda today for more information and insights.