The UK is changing. Adapting our business models to reflect societal shifts, consumer needs and those of our clients is key to our future success.
Diversity makes business sense
Advertising must appeal to the tastes and interests of a culturally diverse society and represent diverse cultural insights, which are brought into the business through a diverse workforce. Clients want to see and work with people that represent them. Lloyds Banking Group put together a fascinating report recently on the portrayal of diversity in advertising called Reflecting Modern Britain – have a read here
Diversity improves financial performance. Mckinsey’s latest research finds that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians. Read more here
There’s more money to be made in Diversity. For example, in 2015, the UK Ramadan market was worth an incremental £100m in retail sales. It addresses the skills gap.
Diversity of thought leads to greater innovation and creativity as well as increased staff motivation and retention.
Setting the context
International businesses, e.g. South Asian/African/Chinese/Middle Eastern, particularly in the UK, are among the most vibrant in Britain. Yet the marketing activity of the majority is still focused on the local communities only. The population size and economic value of these segments continues to grow. Yet the greater opportunity is to take these businesses mainstream to the population as a whole.
The mission of IPA member agencies is to help client organizations to develop, grow and add value to their brands.
IPA member agencies offer a wide range of services: including market insight, consumer insight, marketing and communications strategy, brand and creative development, media planning and buying, creative production, customer experience, e-commerce and customer relationship management solutions, market mix modelling and analytics.
The IPA promotes a culture of accountability; since 1980 we have been running the IPA Effectiveness Awards as a platform for promoting best practice and new learning. Demonstrating profitable return on investment is a core strand of our work.
IPA member agencies are employed by a wide spectrum of businesses across different sectors of the economy, in both B2B and B2C.
The majority of the top 100 global advertisers are represented on the client lists of IPA member agencies; as are the top consumer businesses in the FTSE.
According to a new PwC report ‘The PwC diversity journey’ it’s essential to create a robust organisation focused business case derived from, and positioned to support success of the organisation’s business strategy.
The Great British Diversity Experiment is the only diversity initiative designed for and by the communications industry that provides specific and practical insight into why diversity works and how to leverage it.
Last updated 19/01/2018