{"id":6954,"date":"2022-08-25T17:15:55","date_gmt":"2022-08-25T21:15:55","guid":{"rendered":"https:\/\/thediversitymovement.com\/?p=6954"},"modified":"2023-12-11T12:13:50","modified_gmt":"2023-12-11T17:13:50","slug":"build-your-brand-by-sharing-your-supplier-diversity-stories","status":"publish","type":"post","link":"https:\/\/thediversitymovement.com\/build-your-brand-by-sharing-your-supplier-diversity-stories\/","title":{"rendered":"Build Your Brand by Sharing Your Supplier Diversity Stories"},"content":{"rendered":"<p><button id=\"listenButton1\" class=\"responsivevoice-button\" type=\"button\" value=\"Play\" title=\"ResponsiveVoice Tap to Start\/Stop Speech\"><span>&#128266; Listen to this article<\/span><\/button>\n        <script>\n            listenButton1.onclick = function(){\n                if(responsiveVoice.isPlaying()){\n                    responsiveVoice.cancel();\n                }else{\n                    responsiveVoice.speak(\"Promoting another business might not seem like a great marketing strategy, but that is exactly what organizations need to do when they use diverse suppliers.\u00a0 When organizations deliberately choose to source their goods and services from diverse vendors, there are bottom-line advantages and social benefits that help the wider community. The business also has an opportunity to demonstrate its values in a meaningful, visible way. By highlighting stories of its diverse vendors, the larger company earns brand credibility and the smaller business gains notoriety. Both companies win. Target recently partnered with nearly 30 diverse, women-owned businesses to add innovative health and beauty products to store shelves. The retailer has been able to stock a wider variety of products and consumer goods, which appeal to an increasingly diverse customer base.\u00a0 Sharing the stories of its diverse partners enables Target to boost their visibility, bringing them more attention and customers. The retailer has also created Black Beyond Measure, a section of its online space to highlight Black owners and founders. These marketing efforts help Target\u2019s partners, but they also publicly demonstrate the retailer\u2019s values and commitment to diversity, equity, and inclusion \u2013 which resonates with customers who share those values.\u00a0 And telling these stories benefits all sorts of businesses, not just retailers. During the COVID-19 pandemic, BAYADA Home Health Care was able to highlight how clear face masks, made by Safe \u2018N\u2019 Clear, enabled staff to better serve clients. BAYADA provided staff with clear masks so people with hearing impairments could still read lips. They used a certified disability-owned company to source the masks, and then they created a video to promote the partnership.\u00a0\u00a0 But supplier diversity shouldn\u2019t only be a marketing strategy. Working with diverse suppliers can benefit organizations by driving costs down and accessing new ideas and markets. Many organizations intentionally tap diverse vendors as part of their corporate social responsibility (CSR) initiatives; environmental, social, and governance (ESG) goals; and diversity, equity, and inclusion (DEI) strategy. DEI is key to building better businesses, and supplier diversity is a cornerstone of any successful DEI initiative. And in many industries, like construction, having a robust supplier diversity program can provide a competitive advantage when bidding for local, state, and federal contracts, which require supplier diversity. Increasingly, private companies are also expressing interest in \u2013 and looking favorably on \u2013 business partners with diverse supplier networks.\u00a0\u00a0 Construction firm Clancy & Theys reported in 2021 that in some locations public sector projects represented 70% of revenue. But even in privately developed projects, the company has seen an increased push to \u201cdemonstrate a successful inclusion history on all projects and continued improvement strategies for our Diversity, Equity and Inclusion program,\u201d according to a letter from the leadership team. \u201cThe DEI program ensures our diverse employees feel like they are being heard and are on a team that cares about the issues they face on a daily basis. This is absolutely critical because it\u2019s the right thing, but also because talent is so competitive right now, and we need to always think about retention,\u201d says Baker Glasgow, President of Clancy & Theys. \u201cThe world is not going to get less diverse or inclusive, just more and more, therefore we need to be a leader in educating our employees,\u201d he says. \u201cIt\u2019s not our job to change their minds overnight, but it is our job to provide them the information in some kind of steady drumbeat so they can make decisions for themselves.\u201d Finally, there is a broad social good realized when businesses with diverse founders succeed: the narrowing of the racial wealth gap. Nationally, the median net worth of Black and Latine business owners is more than ten times that of their peers who don\u2019t own a business. Not only is business ownership a traditional path to greater wealth, but diverse businesses also employ more folks from underrepresented groups. In this way, companies can positively influence their community by helping diverse businesses succeed. Making supplier diversity a priority has exponential benefits \u2013 for the organization, its vendors, and the community at large. Supplier diversity enables organizations to do the right thing while they are also doing the profitable thing.\u00a0\u00a0 We explore how one industry is achieving success in our guidebook How the Construction Industry is Putting Supplier Diversity at the Forefront. This resource, and many other tools, are available with a subscription to DEI Navigator, powered by The Diversity Movement. DEI Navigator offers access to our award-winning team of proven business leaders and certified diversity executives, along with expert curated content, how-to guides, specialized training, and a community of peers. Jamie Rose Ousterout, CDE, is Vice President of Client Success at The Diversity Movement and an expert in operational strategy, having spent more than a decade in creative, marketing, and digital companies, serving local, regional, and international clients. Connect with her on Linkedin.\", \"US English Male\");\n                }\n            };\n        <\/script>\n    <\/br><br \/>\n<span style=\"font-weight: 400;\">Promoting another business might not seem like a great marketing strategy, but that is exactly what organizations need to do when they use diverse suppliers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When organizations deliberately choose to source their goods and services from diverse vendors, there are bottom-line advantages and social benefits that help the wider community. The business also has an opportunity to demonstrate its values in a meaningful, visible way. By highlighting stories of its diverse vendors, the larger company earns brand credibility and the smaller business gains notoriety. Both companies win.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"alignleft wp-image-6956 size-thumbnail lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/Target_Bullseye-Logo_Red_transparent-150x150.png\" alt=\"Target logo\" width=\"150\" height=\"150\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/Target_Bullseye-Logo_Red_transparent-150x150.png 150w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/Target_Bullseye-Logo_Red_transparent-100x100.png 100w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/Target_Bullseye-Logo_Red_transparent-600x600.png 600w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/Target_Bullseye-Logo_Red_transparent-300x300.png 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/Target_Bullseye-Logo_Red_transparent.png 640w\" data-sizes=\"(max-width: 150px) 100vw, 150px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 150px; --smush-placeholder-aspect-ratio: 150\/150;\" \/>Target recently partnered with nearly 30 <\/span><a href=\"https:\/\/corporate.target.com\/article\/2021\/10\/building-blocks-for-better-products\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">diverse, women-owned businesses<\/span><\/a><span style=\"font-weight: 400;\"> to add innovative health and beauty products to store shelves. The retailer has been able to stock a wider variety of products and consumer goods, which appeal to an increasingly diverse customer base.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sharing the stories of its diverse partners enables Target to boost their visibility, bringing them more attention and customers. The retailer has also created <\/span><a href=\"https:\/\/www.target.com\/c\/black-owned-or-founded-brands-at-target\/-\/N-q8v16\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Black Beyond Measure<\/span><\/a><span style=\"font-weight: 400;\">, a section of its online space to highlight Black owners and founders. These marketing efforts help Target\u2019s partners, but they also publicly demonstrate the retailer\u2019s values and commitment to diversity, equity, and inclusion \u2013 which resonates with customers who share those values.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"alignleft wp-image-2553 size-medium lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2020\/12\/bayada-logo-400x200-1-300x150.png\" alt=\"BAYADA logo\" width=\"300\" height=\"150\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2020\/12\/bayada-logo-400x200-1-300x150.png 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2020\/12\/bayada-logo-400x200-1.png 400w\" data-sizes=\"(max-width: 300px) 100vw, 300px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/150;\" \/>And telling these stories benefits all sorts of businesses, not just retailers. During the COVID-19 pandemic, BAYADA Home Health Care was able to highlight how clear face masks, made by <\/span><a href=\"https:\/\/safenclear.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Safe \u2018N\u2019 Clear,<\/span><\/a><span style=\"font-weight: 400;\"> enabled staff to better serve clients. BAYADA provided staff with clear masks so people with hearing impairments could still read lips. They used a certified disability-owned company to source the masks, and then they created <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=KvG4lChPM44\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">a video<\/span><\/a><span style=\"font-weight: 400;\"> to promote the partnership.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But supplier diversity shouldn\u2019t only be a marketing strategy. Working with diverse suppliers can benefit organizations by driving costs down and accessing new ideas and markets. Many organizations intentionally tap diverse vendors as part of their corporate social responsibility (CSR) initiatives; environmental, social, and governance (ESG) goals; and diversity, equity, and inclusion (DEI) strategy. DEI is key to building better businesses, and supplier diversity is a cornerstone of any successful DEI initiative.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And in many industries, like construction, having a robust supplier diversity program can provide a competitive advantage when bidding for local, state, and federal contracts, which require supplier diversity. Increasingly, private companies are also expressing interest in \u2013 and looking favorably on \u2013 business partners with diverse supplier networks.\u00a0\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/thediversitymovement.com\/library\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone wp-image-8878 size-large lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/NEW-TDM-Library-Display-Ad_Large-C-1024x341.png\" alt=\"TDM Library: your one-stop-shop for update, expert DEI Resources. Explore the platform with a free trial. Click here to learn more.\" width=\"1024\" height=\"341\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/NEW-TDM-Library-Display-Ad_Large-C-1024x341.png 1024w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/NEW-TDM-Library-Display-Ad_Large-C-600x200.png 600w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/NEW-TDM-Library-Display-Ad_Large-C-300x100.png 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/NEW-TDM-Library-Display-Ad_Large-C-768x256.png 768w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/NEW-TDM-Library-Display-Ad_Large-C.png 1200w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/341;\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"size-medium wp-image-3736 alignleft lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2021\/05\/Clancy_Theys-Logo-New-300-2-300x167.png\" alt=\"Clancy and Theys Logo\" width=\"300\" height=\"167\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2021\/05\/Clancy_Theys-Logo-New-300-2-300x167.png 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2021\/05\/Clancy_Theys-Logo-New-300-2-600x333.png 600w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2021\/05\/Clancy_Theys-Logo-New-300-2-1024x569.png 1024w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2021\/05\/Clancy_Theys-Logo-New-300-2-768x427.png 768w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2021\/05\/Clancy_Theys-Logo-New-300-2-1536x853.png 1536w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2021\/05\/Clancy_Theys-Logo-New-300-2.png 1800w\" data-sizes=\"(max-width: 300px) 100vw, 300px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/167;\" \/>Construction firm <\/span><a href=\"https:\/\/www.clancytheys.com\/about\/dei-page\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Clancy &amp; Theys<\/span><\/a><span style=\"font-weight: 400;\"> reported in 2021 that in some locations public sector projects represented 70% of revenue. But even in privately developed projects, the company has seen an increased push to \u201cdemonstrate a successful inclusion history on all projects and continued improvement strategies for our Diversity, Equity and Inclusion program,\u201d according to a letter from the leadership team.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignleft wp-image-6957 size-thumbnail lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/1657192396107-150x150.jpeg\" alt=\"Baker Glasgow headshot\" width=\"150\" height=\"150\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/1657192396107-150x150.jpeg 150w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/1657192396107-100x100.jpeg 100w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/1657192396107-600x600.jpeg 600w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/1657192396107-300x300.jpeg 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/1657192396107-768x768.jpeg 768w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2022\/08\/1657192396107.jpeg 800w\" data-sizes=\"(max-width: 150px) 100vw, 150px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 150px; --smush-placeholder-aspect-ratio: 150\/150;\" \/><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe DEI program ensures our diverse employees feel like they are being heard and are on a team that cares about the issues they face on a daily basis. This is absolutely critical because it\u2019s the right thing, but also because talent is so competitive right now, and we need to always think about retention,\u201d says Baker Glasgow, President of Clancy &amp; Theys.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe world is not going to get less diverse or inclusive, just more and more, therefore we need to be a leader in educating our employees,\u201d he says. \u201cIt\u2019s not our job to change their minds overnight, but it is our job to provide them the information in some kind of steady drumbeat so they can make decisions for themselves.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, there is a broad social good realized when businesses with diverse founders succeed: the narrowing of the <\/span><a href=\"https:\/\/www.investopedia.com\/the-racial-wealth-gap-5105010\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">racial wealth gap<\/span><\/a><span style=\"font-weight: 400;\">. Nationally, the median net worth of Black and Latine business owners is more than <\/span><a href=\"https:\/\/globalpolicysolutions.org\/wp-content\/uploads\/2014\/04\/BeyondBroke_Exec_Summary.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">ten times that of their peers<\/span><\/a><span style=\"font-weight: 400;\"> who don\u2019t own a business. Not only is business ownership a traditional path to greater wealth, but diverse businesses also employ more folks from underrepresented groups. In this way, companies can positively influence their community by helping diverse businesses succeed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Making supplier diversity a priority has exponential benefits \u2013 for the organization, its vendors, and the community at large. Supplier diversity enables organizations to do the right thing while they are also doing the profitable thing.\u00a0\u00a0<\/span><\/p>\n<p><strong>We explore how one industry is achieving success in our guidebook <i>How the Construction Industry is Putting Supplier Diversity at the Forefront. <\/i>This resource, and many other tools, are available with a subscription to <a href=\"https:\/\/thediversitymovement.com\/dei-navigator\/\" target=\"_blank\" rel=\"noopener\">DEI Navigator,<\/a> powered by The Diversity Movement. DEI Navigator offers access to our award-winning team of proven business leaders and certified diversity executives, along with expert curated content, how-to guides, specialized training, and a community of peers.<\/strong><\/p>\n<p><a href=\"https:\/\/thediversitymovement.com\/library\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignnone wp-image-8045 size-large lazyload\" data-src=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-C-1024x85.png\" alt=\"Display ad for TDM Library. Text says &quot;Find more content like this in TDM Library. Start my free trial&quot;\" width=\"1024\" height=\"85\" data-srcset=\"https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-C-1024x85.png 1024w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-C-600x50.png 600w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-C-300x25.png 300w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-C-768x64.png 768w, https:\/\/thediversitymovement.com\/wp-content\/uploads\/2023\/03\/TDM-Library-Footer-Ad-C.png 1200w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/85;\" \/><\/a><\/p>\n<p><em><a href=\"https:\/\/thediversitymovement.com\/team\/jamie-ousterout\/\" target=\"_blank\" rel=\"noopener\"><b>Jamie Rose Ousterout<\/b><\/a><span style=\"font-weight: 400;\">, CDE, is Vice President of Client Success at The Diversity Movement and an expert in operational strategy, having spent more than a decade in creative, marketing, and digital companies, serving local, regional, and international clients. Connect with her on <\/span><a href=\"https:\/\/www.linkedin.com\/in\/jamieousterout\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Linkedin<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Promoting another business might not seem like a great marketing strategy, but that is exactly what organizations need to do when they use diverse suppliers.\u00a0 When organizations deliberately choose to15<\/p>\n","protected":false},"author":2,"featured_media":6931,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[57,63,5],"tags":[],"tdm_type":[92],"class_list":["post-6954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inclusive-marketing-sales","category-supplier-diversity","category-blogs","tdm_type-articles"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Build Your Brand by Sharing Your Supplier Diversity Stories - The Diversity Movement<\/title>\n<meta name=\"description\" content=\"Promoting another business might not seem like a great marketing strategy, but that is exactly what organizations need to do when they use diverse suppliers.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thediversitymovement.com\/build-your-brand-by-sharing-your-supplier-diversity-stories\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Build Your Brand by Sharing Your Supplier Diversity Stories - The Diversity Movement\" \/>\n<meta property=\"og:description\" content=\"Promoting another business might not seem like a great marketing 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