The Capitalist's Advantage - Proving the Business Value of Inclusion with Imperfect Data | Seattle Interactive 2017
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Presenter: Gabe Goldberg, Hone Marketing CEO You already have all the marketing data you need -- it's time to make sure the right people are interpreting it. New data points to the business value of including diversity of team-member background and experience to your bottom line, but this year's product & communication fails reveal many businesses are behind. How can you make short and long-term impact? I'll share practical, real world examples and show how you can use the tools you already have to improve team, business, and marketing performance.
![The Capitalist’s Advantage
Proving The Business Value of Inclusion
[even if everyone else hasn’t bought in]
Speaker: Gabe Goldberg
10.18.17](https://image.slidesharecdn.com/gabegoldberg-sic-ppt-temp-redgabegoldbergwip101017-171020182836/85/the-capitalists-advantage-proving-the-business-value-of-inclusion-with-imperfect-data-seattle-interactive-2017-1-320.jpg)
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The Capitalist's Advantage - Proving the Business Value of Inclusion with Imperfect Data | Seattle Interactive 2017
- 1. The Capitalist’s Advantage Proving The Business Value of Inclusion [even if everyone else hasn’t bought in] Speaker: Gabe Goldberg 10.18.17
- 2. My name is Gabe. We met a year ago.
- 3. Connecting with people is Tricky.
- 4. The greater the demands to insert my brand into culture; and meet people I don’t know – the bigger the minefield. Because I don’t always know what I don’t know.
- 8. But for every one of these….
- 10. Or these….
- 12. There’s this….
- 15. Or this….
- 17. Or this….
- 19. And sometimes brands recognize their wrongdoing and have a reckoning
- 23. BUT…..
- 24. What If…. I don’t have a $150 million inclusion budget like Google? I like my co-workers and they’re valuable contributors? I don’t get waves of new recruits each year (or quarter…or month)? I don’t have a perfect cultural measurement tool in place? My management team hasn’t made this a priority? I don’t have an inclusion program? I can’t afford to have one of those expensive fails like we just talked about? I just want my corner of the world to be a kittle more productive?
- 25. What If…. Source: Time Magazine
- 26. What can I really affect? Spoiler Alert: Everything
- 27. An unlikely case study
- 28. “Change the way you look at things. And the things you look at change.” - Wayne Dier
- 29. No new business data No new training No meaningful turnover No new leadership team No additional budget No new CEO All the digital communication, data, access, you could dream of.
- 30. 13-years ago the leadership team looked a lot like today.
- 32. 13 Years Later…
- 34. Take the same empowered environment. Bring people from different backgrounds to the table. Mix in 10-months….
- 37. Expand your definition of the pack. And the pack you support expands.
- 38. 1. Determine who the customer will be tomorrow.
- 39. 2. Ask the questions you don’t want the answers to. (Am I really filling a need for tomorrow?)
- 40. Think this is only relevant for tanning?
- 41. 3. Beware “Culture Fit”
- 42. When people look good. They feel better.
- 43. But…
- 44. New services had been added…. Like FDA-approved, non-UV, non-invasive light therapy options - Reduce redness & even skin tone - Reduce fine lines without needles or knives - Reduce acne without medication - Physician recommended - body contouring - Wellness & relaxation services that help people who want to just relax…or even have auto-immune disorders
- 47. Chinese men & women were coming in asking if they could lighten their skin (sort of ironic for a tanning salon) Strongest growth categories were those non-UV, safe services Indian clients were calling asking if there were services to reduce redness Moms wanted to help get rid of their kids’ acne without medication
- 48. Source 6. American Society for Aesthetic Plastic Surgery • $15B spent on cosmetic procedures; up $1.5B from 2015-2016 • Non-surgical procedures were up 7% from 2015 – 2016 • Photorejuvenation (up 36%) • Hyaluronic Acid (up 16%) • Nonsurgical Skin Tightening (up 12%)
- 52. More people through the door. More backgrounds through the door. Better ways to serve those customers.
- 53. This is not box-ticking. This is not just meetings. This is not a nice-to-have. This is inclusion. This is your business.
- 54. Want to win with inclusion – and create stronger, better, faster, higher-performing teams?
- 55. My bet is that you already have what you need.
Editor's Notes
- My name is Gabe Goldberg, and it’s nice to meet you. I’m a consumer marketer and I met many of you last year. I’ve lived and worked through many incarnations of marketing and have worked inside big brands, media companies, and with some of the largest consumer brands in the world. I run a consultancy and work inside a few companies running marketing.
- Marketing’s tough, and getting tougher. It’s a global marketplace, the US is diversifying faster than ever before. I have the ability to connect with anyone, anywhere, any time — and I know a lot about who you are. There’s incredible power, promise, and potential that data and technology have. But, like you — I’ve also learned that those promises have limitations.
- And sometimes my attempts at appealing to an audience can backfire. Not Bic’s finest hour – and this tore through culture as a fail.
- McKinsey has been examining diversity in the workplace for several years. Our latest report, Diversity Matters, examined proprietary data sets for 366 public companies across a range of industries in Canada, Latin America, the United Kingdom, and the United States. In this research, we looked at metrics such as financial results and the composition of top management and boards.1The findings were clear: Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians. Companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above their respective national industry medians. Companies in the bottom quartile both for gender and for ethnicity and race are statistically less likely to achieve above-average financial returns than the average companies in the data set (that is, bottom-quartile companies are lagging rather than merely not leading). In the United States, there is a linear relationship between racial and ethnic diversity and better financial performance: for every 10 percent increase in racial and ethnic diversity on the senior-executive team, earnings before interest and taxes (EBIT) rise 0.8 percent. Racial and ethnic diversity has a stronger impact on financial performance in the United States than gender diversity, perhaps because earlier efforts to increase women’s representation in the top levels of business have already yielded positive results. In the United Kingdom, greater gender diversity on the senior-executive team corresponded to the highest performance uplift in our data set: for every 10 percent increase in gender diversity, EBIT rose by 3.5 percent. While certain industries perform better on gender diversity and other industries on ethnic and racial diversity, no industry or company is in the top quartile on both dimensions. The unequal performance of companies in the same industry and the same country implies that diversity is a competitive differentiator shifting market share toward more diverse companies.
- In 2011, only 5-states had legalized gay marriage. It’s now federal law. In 2012, Syrian refugees admission in the US was tiny. Since then, we’ve accepted 12,000; 10,000 of which happened just this year, reported the NY Times. According to PEW in February 2016, the past election was the most diverse in the history of the United States. Nearly 1 in 3 voters were be either Hispanic, black, Asian, or another ethnic minority. The non-Hispanic white vote has fallen from 71% in 2012 to 69%. Whites have had the least growth in eligible voters and that trend is expected to continue. .
- In no other medium is a companies values, more apparent – than what they decide to put out into the world.
- Kendall Jenner solving racism with Pepsi
- And the backlash. And millions lost for Pepsi
- Snapchat launches Blackface ads
- Snapchat launches Blackface ads
- And then Snapchat launches Yellowface filter less than 4 months later. Their CEO Evan Spiegel said: He believes in diversity, but it’s “not cool to quantify it” at ReCode in 2015. And Snapchat has refused to release cultural makeup of staff, though it’s common practice to. (And Facebook and Twitter are 57% white at the managerial level)
- This was Snapchat in 2016.
- And this…
- There’s a new “community commitment” that requires fellow members to treat with respect and without judgment and bias. Airbnb’s new non-discrimination policy, developed under the guidance of former U.S. Attorney General Eric Holder, who joined Airbnb in July, prohibits content that promotes things like racism and bigotry. The Congressional Black Caucus got involved, NAACP, the racial justice group: The Color of Change, Rainbow/PUSH coalition, the ACLU laid out the plan for Airbnb to move forward. And in the beginning of 2017 new tools rolled out…with a new campaign Reported by TechCrunch, AirBnB is 63% white, 7.1% latino, 2.9% black. Airbnb has set a goal to increase the percentage of employees from underrepresented groups from 9.64% to 11% by the end of 2017 — and will begin recruiting from historically black colleges.
- The leadership team matched the population
- The leadership team matched the population
- A 35-store chain was still successful
- A 35-store chain was still successful
- A 35-store chain was still successful
- A 35-store chain was still successful
- More People. More Access. 3 Lessons Learned…
- King County is diversifying faster than the rest of the United States. Bellevue is almost 36% Asian. 31% of the population wasn’t born in the United States. The population shifted dramatically.
- This was incredibly uncomfortable. People were upset, it was a conversation that was being avoided. But it’s real.
- King County is diversifying faster than the rest of the United States. Bellevue is almost 36% Asian. 31% of the population wasn’t born in the United States. The population shifted dramatically.
- King County is diversifying faster than the rest of the United States. Bellevue is almost 36% Asian. 31% of the population wasn’t born in the United States. The population shifted dramatically.
- More People. More Access. 3 Lessons Learned…
- They had just been doing this…to a shrinking consumer base
- Just by bringing together all those people, who already worked there…they started talking…
- Just by bringing together all those people, who already worked there…
- All of the lights Expand what they were known for. And make a bigger impact.