Missing out: The business case for customer diversity | Deloitte Australia | Human Capital has been added to your bookmarks.
Missing out: The business case for customer diversity
Discover extra selling power by advocating for equality
In a diverse and globally accessible market place, customers have choices. Unfortunately, organisations often imagine customers come in one shape and size, their diversity has been overlooked. This presents a huge opportunity for businesses who segment and market to their diverse customers.
One in three customers from diverse backgrounds say their needs were often unmet over the past 12 months. Further, they were three times more likely to avoid an organisation and dissuade others from their potential interactions, because of an organisation’s negative reputation on diversity.
Missing out: The business case for customer diversity will help businesses ensure they are adjusting their product set and modifying their services to reflect the needs and wants of diverse customers.
In an age of social media where supporters and detractors can make or break any sales campaign, it is perhaps more true now than ever, that customers are using their individual purchasing power to endorse organisations which fit with their personal moral codes and who actively support causes that are important to them.
A big question for any organisation is, can they afford to ignore their diverse customers and in doing so, is there a hidden impact which accumulates over time?
The research contained in this report shows that organisations that cater for their diverse customers are rewarded through stalwart supporters who return for repeat business and actively campaign within their communities on behalf of that organisations, on the flipside; business that don’t are missing out.