Companies that enhance their customer experience by utilizing insights from the disability market and employing people with disabilities continuously outperform their peers in revenue growth.
Here's some background to put this massive opportunity to attract customer loyalty and increase profits into perspective.
- People with disabilities represent over 1.3 billion people globally. When combined with friends and family, the disability market touches 53% of consumers and controls over $8 trillion US dollars in annual disposable income.
- In this largely unrealized market, there is a strong emotional connection to businesses that employ people with disabilities. A 2006 US study showed 92% of consumers reflect favourably on businesses known to hire people with a disability.
- Meanwhile, a 2008 poll found 78% of Canadians are more likely to buy a product or service from a business that has a policy of hiring people with disabilities than a company that does not.
- More recently, a 2016 study revealed companies that clearly communicate their inclusive hiring practices to the public are rewarded by customer loyalty.
- Another study in 2016 concluded households with people with disabilities demonstrate higher brand loyalty than those outside the disability market.
Top organizations understand this model and use it to their advantage.
Learning from the Industry Leaders
Disney incorporates park design features for the disability market, enhancing customer experience for all. It continually incorporates the disability experience into its on-screen characters, bonding with it's customers, and making Disney a leader in value creation.
Google's disability-driven innovation leads to product design it then applies to its core customers. From the beta stage, disability market needs are the inspiration for Google's many now mainstream innovations.
TD Bank is a leader in value creation, due to the inclusion of people with disabilities in their talent pipeline, as well as how the company talks about the disability market as a driver of their business. TD sets an excellent example for brands wishing to communicate the connection of disability to business results.
Learn from these top-performing companies to attract the disability market and grow your customer experience and loyalty.
"Information is power, particularly when the competition ignores the opportunity to do the same." - Mark Cuban
Looking for ways to do this? One of the best places to start is right here at the Ontario Disability Employment Network.
We have the resources and the right people to help your business increase customer loyalty. Connect with our team today for more information.