When exploring ways to boost back-to-school sales of PCs and printers, a marketing team at HP didn’t create a new ad campaign or experiment with novel sales strategies. Instead, they did something much simpler — they listened. The team homed in on specific geographic regions and discovered that many members of the community were Latino families in which younger generations typically translated for older ones. Armed with these insights, they created marketing materials in Spanish and English and provided face-to-face HP sales ambassadors onsite. As a result, they saw sales pop 128% year over year — a win the team might not have achieved if there weren’t diverse perspectives in the room.
“You have to reflect our markets, obtain authentic insights, and the ability to empathize with customer needs,” says Lesley Slaton Brown, HP’s chief diversity officer. “When you have diverse perspectives at the table, you generate greater creativity and innovation, which ultimately translates into profitability.”
Diverse companies are more profitable for three main reasons: they’re more innovative, more resilient, and better at retaining talent than their counterparts. Companies whose executive teams were in the top quartile for gender diversity and for ethnic and cultural diversity were 25% and 36% more likely to have above average profitability than companies in the bottom quartile respectively.
A new ad campaign from HP aimed at attracting new talent, called “Orchestra,” shows how individuals who contribute to a symphony of more diverse thinking leads to more thoughtful solutions.