Allyship in Action 299: Diversifying is the Best Way to Grow Your Business with Charlene Polite Corley and Stacie De Armas
This episode of the Allyship in Action Podcast with Julie Kratz features Charlene Polite Corley, Nielsen's VP of Diverse Insights and Partnerships, and Stacie De Armas, Senior Vice President of Diverse Intelligence & Initiatives at Nielsen.
Together we discuss the long-term value of diversity for businesses, emphasizing that engaging historically excluded consumers is crucial for growth and brand loyalty. Stacie and Charlene highlight that while people can be "trickier" than money, diversifying your workforce and your approach to consumers is as important as diversifying your financial portfolio.
Some key takeaways from this conversation:
- Diversity is a significant driver of business growth and ROI: Engaging with historically excluded consumer groups is essential for long-term business growth as they represent untapped markets and offer greater potential for building brand loyalty and achieving higher returns on marketing investment.
- Understanding nuanced cultural and consumption habits is crucial for effective marketing: A "copy-paste" approach to marketing is ineffective. Brands need to develop a deeper understanding of the media consumption habits and cultural nuances of diverse audiences to connect authentically and build lasting relationships. Data shows, for example, that Black, Hispanic, and Asian audiences spend significantly more time online.
- Centering diverse narratives benefits everyone and creates broader cultural impact: Focusing on representing specific communities authentically in content and advertising doesn't exclude other groups. Instead, it provides "windows" into different experiences, enriching everyone's understanding and often leading to broader cultural trends and significant financial success, as seen in sports and film.
Actionable Allyship Takeaway:
Organizations and individuals should actively lean into fear and commit to an inclusive data strategy, continually seeking to understand and meet diverse consumers where they are, knowing that it's both the right thing to do and a smart business decision that drives growth and loyalty, regardless of external pressures.
Learn more about Charlene Polite Corley and Stacie De Armas and their research at: