Industry Data Confirms That Diversity Marketing is Effective in 2021
The trend/insight:
Overall marketing spend is expected to grow by 14% in 2021. According to Hubspot, marketing spend is expected to grow in the following areas: growth marketing, marketing tech, personalization, and diversity marketing.
The opportunity:
A recent survey found that 59% of consumers think that companies need to follow up on their statements on diversity with concrete action, or they risk being seen as exploitative and opportunist. Diversity Marketing is an effective practice for marketers to commit to, especially considering that people are more likely to consider a product after seeing an ad they think is diverse or inclusive, and 64% actually take action after seeing an ad they believed to be diverse and inclusive.
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