{"id":54167,"date":"2022-07-14T15:56:43","date_gmt":"2022-07-14T19:56:43","guid":{"rendered":"https:\/\/www.sogolytics.com\/blog\/?p=54167"},"modified":"2022-07-14T23:25:13","modified_gmt":"2022-07-15T03:25:13","slug":"brand-equity-diversity-inclusion","status":"publish","type":"post","link":"https:\/\/www.sogolytics.com\/blog\/brand-equity-diversity-inclusion\/","title":{"rendered":"How Brand Equity Can Help (or Ruin) Diversity & Inclusion Efforts"},"content":{"rendered":"

Brand Equity<\/strong> is all about the value of a brand, in and of itself\u2014not just the products or services it provides. For example, a well-known brand has the ability to make more money than a lesser-known one simply because of brand recognition. Customers who support the more recognizable brand have the perception that products or services from that brand are better than others. I\u2019m pretty certain that you can envision some brands that fit this classification even now!<\/p>\n

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So why is brand equity important when it comes to Diversity, Equity, and Inclusion efforts? How can brand recognition help your DEI programs? We\u2019d like to dive into that question on this installment of our \u201cKnow Better, Do Better\u201d series<\/a>.<\/p>\n

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\"diversity<\/p>\n

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Parts of a Whole<\/h2>\n

Brand equity is built on three main components that calculate the end result: consumer perception, positive effects, and negative effects. These things work together to form the overall brand equity. DEI initiatives help with all three parts, as a brand\u2019s commitment to equality has gradually become more important to consumers.<\/p>\n

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Perception is the Key<\/h2>\n

As much of brand recognition and awareness stems from people\u2019s perception of said brand, this same aspect can affect DEI efforts. A company, for example, could have all the necessary DEI trainings during onboarding, and put thoughtful policies in their handbook to develop an inclusive company culture. But if the perception from employees internally (or customers externally) is that it isn\u2019t authentic (or isn\u2019t enough), suddenly the image of the company isn\u2019t a good one.<\/p>\n

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Now, this isn\u2019t to say that good intentions and hard work won\u2019t be worth anything. In fact, often perception stems from the truth, and so if the overall perception of your company isn\u2019t good internally or externally, that is a very different matter entirely. This example is more to illustrate the importance of perception, and how one must realize that what the brand stands for publicly must match the internal decisions the company makes. The external image must also reflect the true essence of the company culture. Typically, when these are in mismatch, it has a negative impact on even well-meaning efforts.<\/p>\n

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Authenticity Leads the Way<\/h2>\n

There\u2019s more in the connection between DEI and branding\/marketing than you would believe, which means that diversity is extremely important when it comes to branding\/marketing.<\/p>\n

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Did you know?<\/p>\n

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    \n
  1. Consumers aren\u2019t looking for diversity in brands that isn\u2019t \u201creal\u201d in their company culture<\/a>. Over 65% of global consumers believe it\u2019s important to purchase from and do business with a company that promotes diversity and inclusion authentically<\/a>.<\/li>\n
  2. Workplace analytics can help you with your branding and marketing because they can give you an insight into consumers and what they feel is important. Anonymous feedback<\/a> can ensure your employees are comfortable with sharing their unbiased viewpoints<\/a>.<\/li>\n
  3. DEI initiatives can lead to greater brand equity because of better brand name recognition with consumers.<\/li>\n<\/ol>\n
    <\/div>\n

    Now is the best time to get\u202ffeedback<\/a><\/strong>\u202ffrom your employees and consumers about what matters most to them and use that info to decide which initiatives to start with. Checking the pulse<\/a> of your employees and customers can lead to deeper knowledge and better relationships. Don\u2019t know where to start?\u202fWe\u2019re\u202fhere to support<\/a>\u202fyour efforts!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    Brand Equity is all about the value of a brand, in and of itself\u2014not just the products or services it provides. For example, a well-known brand has the ability to make more money than a lesser-known one simply because of brand recognition. Customers who support the more recognizable brand have the perception that products or services from that brand are better than others. I\u2019m pretty certain that you can envision some brands that fit this classification even now! So why is brand equity important when it comes to Diversity, Equity, and Inclusion efforts? How can brand recognition help your DEI programs? We\u2019d like to dive into that question on this installment of our \u201cKnow Better, Do Better\u201d series. Parts of a Whole Brand equity is built on three main components that calculate the end result: consumer perception, positive effects, and negative effects. These things work together to form the overall brand equity. DEI initiatives help with all three parts, as a brand\u2019s commitment to equality has gradually become more important to consumers. Perception is the Key As much of brand recognition and awareness stems from people\u2019s perception of said brand, this same aspect can affect DEI efforts. A company, for example, could have all the necessary DEI trainings during onboarding, and put thoughtful policies in their handbook to develop an inclusive company culture. But if the perception from employees internally (or customers externally) is that it isn\u2019t authentic (or isn\u2019t enough), suddenly the image of the company isn\u2019t a good […]<\/p>\n","protected":false},"author":71,"featured_media":5042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,204,156],"tags":[857,794,808,856,593,858,838],"yoast_head":"\nHow Brand Equity Can Help (or Ruin) Diversity & Inclusion Efforts - Sogolytics Blog<\/title>\n<meta name=\"description\" content=\"Sound brand equity and authentic reputation is the best way to support diversity & inclusion initiatives. 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