US marketers boost DEI spending

Marketers in the US have boosted their investment in diversity, equity and inclusion (DEI), with outlay levels rising by 10.8% on average in the last year, and funds being directed towards initiatives like talent management and brand building.

That was a key finding from a recent survey by Deloitte, the consultancy and advisory firm, of 320 senior marketing executives.

Why it matters

Many brands have outlined their support for improving DEI inside their own four walls and across society as a whole. Turning good intentions into hard action, though, depends on financial backing and, just as important, long-term focus, even as the industry grapples with other significant issues.

Tracking DEI progress

Upon being asked “what types of impact have you been able to document” around DEI:

• 40.8% of Deloitte’s marketer panel cited enhancements in talent acquisition and retention;
• 37.6% mentioned improved brand reputation;
• 27.7% highlighted better relationships with other stakeholders;
• 15.2% pointed to increased customer acquisition and retention;
• 9.6% referenced innovation with a DEI emphasis.

Obstacles to progress

When discussing barriers to further DEI marketing progress:

• 34.6% of the sample agreed that “other opportunities crowd out DEI opportunities”;
• 30.9% “don’t dedicate enough time to envision” ways forward;
• 21.7% of companies had not experienced any roadblocks;
• 18.0% had “not considered any DEI opportunities in marketing”;
• 17.3% did not regard DEI as part of their brand purpose.

Not every company is moving or measuring around DEI

• Some 24.8% of respondents had not taken any steps with regards to DEI.
• A further 13.8% do not have any specific objectives in place.

Sourced from Deloitte