Brands and marketers are under an almost constant barrage of challenges. This is the reality that chief marketing officers, chief financial officers, CEOs and other leaders have to deal with.<\/p>\n
Welcome to the C-suite! Where each day brings a chance to tackle an ever changing business landscape and social fabric.<\/p>\n
The List, the select group of advertising, marketing and media insiders assembled by Ad Age in partnership with Meta, introduced \u201cThe Modern CMO Playbook\u201d in September with a wide-ranging look at the myriad issues top marketers are confronting today. Our recent article, \u201cNavigating Creativity in an Age of Risk,\u201d published on Oct. 30, took a deep dive into those challenges.<\/p>\n
This month, we\u2019re focusing on diversity, equity and inclusion.<\/p>\n
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To address growing industry perceptions regarding the fiscal justification for DE&I initiatives, UM released its October 2022 \u201cFuture Impact\u201d study. According to List member W. Joe DeMiero, U.S. CEO of IPG Mediabrands\u2019 global media agency network, the study \u201ccorrelates investment in DE&I with business outcomes. It\u2019s a key piece of the puzzle to help CMOs convince CFOs and other stakeholders why these investments are essential.\u201d<\/p>\n
Among the key findings:<\/p>\n
\u2022 Purchase intent more than doubles when socially conscious brands engage advertising media partners that share common values.<\/p>\n
\u2022 When a brand embodies three core values\u2014integrity, sustainability and equity\u2014purchase intent rises by 75%.<\/p>\n
\u2022 Brands that support sustainability and integrity values alongside media partnerships mirroring the same values provide the most efficient lift in purchase intent.<\/p>\n
\u2022 Brands that score low on responsibility metrics cannot improve their performance simply by advertising on media partners with higher responsibility metrics; rather, brands must evolve their practices and commitment to social values to see increased results.<\/p>\n