Did you know that supplier diversity is an important part of a brand's marketing strategies? It's true! When done right, not only does it help to promote the various companies that are included in a portfolio, but it also creates a well-rounded and attractive offering to consumers. And while many organizations are already making strides toward integrating supplier diversity into their overall strategy, there's still work to be done. In order to reach their full potential as a brand—and become a true leader in their industry—companies need to take steps towards implementing this type of initiative right now.
In this blog post, we will talk about how supplier diversity can be implemented into your marketing.
Educate your team on supplier diversity.
While it's easy to get excited about a new marketing campaign, it's important that you make sure your team is educated on the benefits of supplier diversity. It's important that you make sure your team understands how supplier diversity improves the bottom line before you start executing the idea. It can be easy to get caught up in the excitement of a new campaign but it's important to remember you're dealing with people who have been around for a while and may have an idea of what your company is looking for in a partner. Educating them on supplier diversity will help answer any questions they may have, and keep them on track with their goals.
Include supplier diversity content in your marketing communications plans.
Marketing communications is a critical component of any supplier diversity program because the organization’s core messages about what it does, what it believes in, who it serves, and how it serves them must reach all audiences including suppliers, customers, and employees. As companies grow more aware of their impact on the world and, more importantly, as they become more aware that their customers and employees are becoming more diverse, they are striving to create content that speaks directly to this new audience. Including supplier diversity content in your marketing communications plans can help you reach this important audience and drive your brand success. You will want to focus on topics like diversity, inclusion, and employee engagement—all of which are relevant to supplier diversity issues.
Use supplier diversity as a way to differentiate yourself from competitors.
Supplier diversity can be a very powerful way to differentiate your company from competitors. However, it's important to consider how you want to stand out from the crowd. Are you trying to be a leader in social consciousness? Do you want to make it clear that your company is ethically-minded and cares about the impact of its actions? If so, then clearly stating that you support supplier diversity (regardless of how many other businesses are doing the exact same thing) might be an effective way for you to set yourself apart from the competition. It's also important to think about how much time and effort will be involved in creating opportunities for minority suppliers and businesses.
Create a list of potential suppliers and reach out to them for collaboration.
The world is a big place, and there are plenty of companies out there who can help make your product a success. So, why not reach out to some of them? In order to do this, you'll need to create a list of potential diverse suppliers. Once you have found some suppliers who you are interested in working with, reach out! Tell them about your new business venture and ask if they'd like to collaborate with you by supplying some products for your store. You may be surprised at how many people are willing to work with you—especially if your company is committed to diversity. After all, we know that in order for our economy to thrive, we need everyone's voices heard and represented.
Showcase products from women or minority-owned businesses.
Supplier diversity marketing is a great opportunity for small businesses to support and promote women and minority-owned businesses. By showcasing products from talented, diverse suppliers in your marketing materials, you are bringing new brands to the attention of your audience, who will hopefully be inspired to buy from them as well. It's a win-win—you're supporting these businesses and helping them grow, and they're giving you access to their products that will help you make your own business more successful.
Hopefully, this blog post will help you integrate supplier diversity into your own marketing plan. You won't need to transform your entire business model or overhaul your existing strategy, but you may be able to diversify the participation and representation of groups that have traditionally been excluded. When done thoughtfully and with intent, even small changes can mean big results!